Westor Capital Group, Inc. of Herkimer, NY and President Richard Hans Bach are to immediately stop the further misappropriation and misuse of customer funds and securities under the terms of a Temporary Cease-and-Desist Order (TCDO) filed by the Financial Industry Regulatory Authority (FINRA). FINRA is seeking the TCDO to prevent further customer harm that would […]
The 57th Presidential Inauguration took place today in Washington, DC. Watch the President take the oath of office in the video below. President Obama also gave his second inaugural address at the U.S. Capitol. The President pledged: “America’s possibilities are limitless,” he said, “for we possess all the qualities that this world without boundaries demands: […]
Citigroup Global Markets, Inc. failed to disclose certain conflicts of interest in its research reports and research analysts’ public appearances, according to The Financial Industry Regulatory Authority (FINRA). The company was fined $725,000. Citigroup and/or its affiliates managed or co-managed public securities offerings, received investment banking or other revenue from, made a market in the […]
Citigroup marketed high risk investments to wealth management clients without fully disclosing the degree of risk, according to a recent New York Times article by Gretchen Morgenson titled “Secrets of a Sales Machine.” Details came to light in recent court filings, after Citigroup appealed an award of $54 million granted by a securities arbitration panel. […]
Passengers were shaken up but not hurt when two jetliners collided on the ramp at Miami International Airport yesterday evening. An Aerolineas Argentinas Airbus was heading to the gate with 240 passengers onboard after arriving from Buenos Aires, when it encountered an Air France 777-300 plane preparing to depart for Paris with more than 300 […]
Florida homeowners who lost their home to foreclosure between Jan. 1, 2008 and Dec. 31, 2011 and had their mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase or Wells Fargo may qualify for financial compensation under the $25 billion National Mortgage Settlement. The filing deadline is this Friday, January 18, 2013. Florida Attorney […]
Lance Armstrong comes clean in an interview with Oprah Winfrey scheduled for this Thursday and Friday. He has repeatedly denied charges of doping up to this point. Watch an interview of Oprah Winfrey talking about the upcoming Lance Armstrong interview: In June of 2012 the U.S. Anti-Doping Agency announced that written notice of allegations of […]
A new source of Internet-based funding may soon be available to Florida’s more than 2 million small businesses. Crowdfunding (also known as crowd financing, equity crowdfunding, or hyper funding) is defined as “the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via […]
The U.S. Consumer Financial Protection Bureau (“CFPB”) has issued “Ability to Repay” rules designed to make mortgages more affordable for homeowners. Key features of the new guidelines include the following: Potential borrowers have to supply financial information, and lenders must verify it; To qualify for a particular loan, a consumer has to have sufficient assets […]
American Express, the second largest employer in the Fort Lauderdale area with a local payroll of 3,000 employees, is taking a $400 million restructuring charge to cover severance payments related to the elimination of an estimated 5,400 jobs across the U.S. and overseas. The firm’s Plantation office focuses on commercial and consumer financial services, as […]