Federal Reserve Bank Of New York News
Credit card debt surpasses $1 trillion in the US for first time
U.S. consumers’ total credit card debt exceeded $1 trillion for the first time, according to a new study by the personal finance website WalletHub. Consumers took on an additional $92.2 billion in debt last year, the highest single-year amount since 2007. The average U.S. household owes $8,600 on
United States remains vulnerable to North Korean cyber-attack, analysts say
As North Korea blusters about launching missile strikes against the United States and its allies, experts are warning that aggressive action from North Korea is more likely to come from cyber space. While Kim Jong-Un has struggled to develop a traditional arsenal to rival those of his enemies as
New Bank Hacks Revealed as Financial Institutions Urged to Improve Security
The operator of the messaging system that connects thousands of banks around the world has revealed new attempts to hack member banks that have taken place since the digital heist of $81 million from Bangladesh Bank in February. The disclosure, which took the form of a letter sent by SWIFT to
Excerpt: Ben Bernanke's 'The Courage to Act'
Excerpted from The Courage to Act: A Memoir of A Crisis and Its Aftermath by Ben S. Bernanke. Copyright © 2015 by Ben S. Bernanke. With permission of the publisher, W. W. Norton & Company, Inc. All rights reserved. Prologue: I Can Still Stop This . . . It was 8:00 p.m. Tuesday, September 16, 2008.
Obama’s Pick for Attorney General in the Hot Seat
The possible new attorney general of the United States in the hot seat Loretta lynch right there are taking an oath. She's president Obama's pick to succeed Eric Holder as the top prosecutor in the country. But first she'll have to convince the Senate Judiciary Committee. Hello everyone I'm
The 5 Most Interesting Cases of Attorney General Nominee Loretta Lynch’s Career
President Obama will nominate Loretta Lynch, currently the U.S. Attorney for the Eastern District of New York, to succeed Eric Holder as the next U.S. Attorney General, ABC has learned. If confirmed, Lynch would become the first African-American woman to lead the Justice Department. Appointed U.S.
7 Credit Mistakes That Could Wreck Your Retirement
Yes, just like clockwork it happened again this year: I got older. As of this week, the Beatles song, "When I'm Sixty-Four," went from being a hypothetical to a reality for me. This means that next year, I will officially become a senior citizen. It's a jarring prospect. Like most baby boomers, I
Fed Plot Terrorist Begs for Leniency, Gets 30 Years
A “serious stammering problem,” a cheating girlfriend and a lack of “real friends” led a young Bangladeshi man down the path of a terrorist, according to a pre-sentencing letter Quazi Mohammed Nafis wrote to a federal judge in New York. Nafis, 21, faces up to...
The Note's Must-Reads for Tuesday, March 26, 2013
The Note’s Must-Reads are a round-up of today’s political headlines and stories from ABC News and the top U.S. newspapers. Posted Monday through Friday right here at www.abcnews.com Compiled by ABC News’ Jayce Henderson, Amanda VanAllen and Carrie Halperin PRESIDENT OBAMA: The Washington Times’ ...
Debt Creates Long-Term Burdens for Student Borrowers
The number of students who graduate from college saddled with significant debt is growing, and the process of repaying loans can be contentious for all involved. The Consumer Financial Protection Bureau said on Thursday that it wants to regulate the companies hired by lenders to maintain records,