Ken Sweet

  • Facebook Oct 13, 2019

    Facebook's Libra Currency Battered by Defections, Pushback

    Facebook faces a rough road ahead with Libra, but defections by high-profile partners are still unlikely to spell the end for the digital currency.

  • United States Jun 17, 2019

    Mastercard to Allow Transgender People to Use Chosen Name

    Mastercard will allow transgender people to use their chosen names on credit and debit cards in an effort to combat discrimination at the cash register. That means that the name on the credit card owned by a transgender person could be different than that found on their birth certificate or driver’s license. It is up to the banks that issue...

  • lawyer Feb 14, 2019

    Watchdog Finds Problems With Student Loan Servicing, Oversight

    The nine companies and organizations tasked with servicing the accounts of the nation’s 30 million student loan borrowers repeatedly failed to do their jobs properly over a period of years and their regulator neglected to hold them responsible, a new report finds. The report released Thursday by the Department of Education’s independent inspector general’s office shows some borrowers weren’t getting...

  • spokesman Nov 7, 2018

    New Advance Pay Service Hopes to Reduce Use of Predatory Payday Loans

    Americans take out roughly $50 billion in payday loans a year, each racking up hundreds of dollars in fees and interest. But a small and growing service that allows its users to take an advance on their paycheck might be giving the payday loan industry a run for its money. San Francisco-based financial technology company Even made headlines late last...

  • North Carolina Sep 17, 2018

    Florence Likely to Expose Gaps in Flood Insurance

    The number of Americans with flood insurance is on the rise, yet Hurricane Florence is likely to make it painfully clear that too many homeowners in the Carolinas and other vulnerable regions remain unprotected. An analysis of federal flood insurance records by The Associated Press found there were roughly 5.1 million active flood insurance policies in the U.S. as of...

  • North Carolina Sep 17, 2018

    Dealing With Insurance After Florence

    Homeowners are being advised to check in with their insurance agencies to jumpstart the rebuilding process after Florence – even if they haven’t returned yet.

  • Donald Trump Aug 27, 2018

    Top US Student Loan Official Resigning, Says WH Betrayed Americans

    The government’s top official overseeing the $1.5 trillion student loan market is resigning in protest, citing what he says is the White House’s open hostility toward protecting the nation’s millions of student loan borrowers....
    Seth Frotman will be stepping down as student loan ombudsman at the end of the week, according to his resignation letter, which was obtained Monday by The...

  • Department of Justice Aug 1, 2018

    Wells Fargo to Pay $2.1 Billion for Role in Housing Bubble

    Wells Fargo agreed Wednesday to pay a $2.1 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble that ultimately led to the 2008 financial crisis.

  • Facebook Jul 18, 2018

    Twitter Suspended 58 Million Accounts in 4Q

    Twitter suspended at least 58 million user accounts in the final three months of 2017, according to data obtained by The Associated Press. The figure highlights the company’s newly aggressive stance against malicious or suspicious accounts in the wake of Russian disinformation efforts during the 2016 U.S. presidential campaign. Last week, Twitter confirmed a Washington Post report that it had...

  • bank Jun 20, 2018

    Banking by Smart Speaker Is Here, Along With Security Issues

    Hey Alexa, what’s my bank account balance? Big banks and financial companies have started to offer banking through virtual assistants — Amazon’s Alexa, Apple’s Siri, and Google’s Assistant — in a way that will allow customers to check their balances, pay bills and, in the near future, send money just with their voice. And with the rapid adoption of Zelle,...

  • driver May 10, 2018

    Equifax Now Says Some Passport Information Was Stolen in Breach

    Equifax acknowledged a relatively small number of passport images and information were stolen as part of last year’s security breach, despite previously denying such a thing occurred. The credit monitoring company said 3,200 passport images were stolen last year, according to a letter sent last week by lawyers representing Equifax to the Senate Banking Committee. That’s compared to the 148...

  • lawyer Apr 20, 2018

    Fixing Your Bike: How to Adjust a Seat Post

    Believe it or not, there actually are right and wrong ways of sitting on your bike.

  • driver Mar 28, 2018

    Equifax Hires Former GE Exec Mark Begor as New CEO

    Equifax tapped longtime financial industry executive Mark Begor as its new permanent CEO, the company said Wednesday, as Equifax continues to try to recover from fallout surrounding the company’s massive data breach. The 59-year-old Begor will take over from Paulino do Rego Barros Jr., who became interim CEO in September when Richard Smith stepped down from the post. Smith’s departure...

  • Ken Sweet Mar 19, 2018

    Equifax Finds Additional 2.4 Million Impacted by 2017 Breach

    Equifax said Thursday that an additional 2.4 million Americans were impacted by last year’s data breach, however these newly disclosed consumers had significantly less personal information stolen. The company says the additional consumers only had their names and a partial driver’s license number stolen by the attackers, unlike the original 145.5 million Americans who had their Social Security numbers impacted....

  • attorney Mar 14, 2018

    Former Equifax Exec Hit With Insider Trading Charge

    A former Equifax executive who sold stock for nearly $1 million before the company’s massive data breach was publicly announced faces insider trading charges. Federal prosecutors announced Wednesday that a grand jury indicted Jun Ying, the former chief information officer of Equifax’s U.S. Information Solutions. They say Ying exercised all his available stock options and sold his Equifax stock after...

  • Governor Nov 25, 2017

    Consumer Watchdog Head Names a Successor, and Trump Does Too

    The director of the Consumer Financial Protection Bureau resigned Friday and named his own successor, leading to an open conflict with President Donald Trump — who announced a different person as acting head of the agency later in the day.
    That means there are now effectively two acting directors of the CFPB, when there should only be one.

  • Donald Trump Nov 15, 2017

    Consumer Financial Protection Bureau Chief Who Sparred With GOP Plans to Resign

    Richard Cordray, the aggressive first director of the Consumer Financial Protection Bureau, plans to leave the agency by the end of the month, giving President Donald Trump a chance to appoint a replacement likely to be friendlier to the financial industry. Cordray was a holdover from the Obama administration, appointed to his position in 2013 for a five-year term. Under...

  • lawyer Sep 26, 2017

    Equifax CEO Steps Down in Wake of Huge Personal Data Hack

    Embattled Equifax CEO Richard Smith stepped down Tuesday, less than three weeks after the credit reporting agency disclosed a disastrous hack to its computer system that exposed the sensitive personal information of 143 million Americans. His departure follows those of two other high-ranking executives who left in the wake of the hack, which exploited a software flaw that the company...

  • Associated Press Sep 21, 2017

    The ATM at 50: How It Changed Banking, and Consumers Too

    An automated teller machine. The cash machine. In Britain, a cashpoint. ATMs, known for spitting out $20 bills (and imposing fees if you pick the wrong one), turn 50 years old this year. They’re ubiquitous — and possibly still a necessity, despite the big changes in how people pay for things. It was a radical move when Barclays installed cash...

  • Congress Sep 13, 2017

    New Lawsuits, Gestures to Customers in Equifax Data Breach

    Equifax faces new lawsuits and is trying to make new gestures to customers in the wake of its disclosure last week that it exposed vital data like Social Security numbers of about 143 million Americans....
    It’s already come under fire from members of Congress, state attorneys general, and customers....
    Here’s the latest on what you need to know about the...

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