Daily business news in the Great State of New York!
The Federal Deposit Insurance Corporation (FDIC) Board of Directors wants to implement a special assessment on the nation’s largest banks to recover the cost associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank earlier this year. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action in […]
CENTRAL ISLIP, NY – A 13-count indictment was unsealed today in the U.S. District Court for the Eastern District of New York charging George Anthony Devolder Santos, better known as “George Santos,” a United States Congressman (R) representing the Third District of New York, with seven counts of wire fraud, three counts of money laundering, […]
Charlie Javice, the founder of college financial platform Frank, has been charged with fraud after inflating user figures in a $175 million sale to JPMorganChase in 2021. Damian Williams, the United States Attorney for the Southern District of New York, and Patricia Tarasca, the Special Agent in Charge of the New York Regional Office of […]
Governor Kathy Hochul, Senate Majority Leader Charles Schumer and MTA Chair and CEO Janno Lieber, along with federal and local elected officials [photo above] celebrated the official opening of Grand Central Madison with full Long Island Rail Road service beginning Monday, February 27. The new schedules provide increased service levels by a historic 41 percent […]
The minimum wage is going up on December 31 for workers in upstate New York. Workers outside of New York City, Long Island, and Westchester County will see an increase by $1.00 per hour, from $13.20 to $14.20, following a statutorily required economic analysis conducted by the New York State Division of the Budget. Additionally, […]
Publicly filed court documents, including a 16-count indictment unsealed this week in Brooklyn, charge five Russian nationals – including a suspected Russian Federal Security Service (FSB) officer – and two U.S. nationals with conspiracy and other charges related to a global procurement and money laundering scheme on behalf of the Russian government in which the […]
A federal grand jury in Manhattan returned an indictment this week charging Samuel Bankman-Fried, aka SBF, 30, of Stanford, California, with conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the Federal Election Commission and commit campaign finance […]
Damian Williams, the United States Attorney for the Southern District of New York, and Tyler Hatcher, the Special Agent in Charge of the Internal Revenue Service, Criminal Investigation, Los Angeles Field Office (“IRS-CI”), announced that JAMES ZHONG pled guilty to committing wire fraud in September 2012 when he unlawfully obtained over 50,000 Bitcoin from the […]
With high inflation, Social Security and Supplemental Security Income (SSI) benefits for 70 million Americans will increase 8.7 percent in 2023, the Social Security Administration announced. On average, Social Security benefits will increase by more than $140 per month starting in January. The 8.7 percent cost-of-living adjustment (COLA) will begin with benefits payable to more […]
Governor Kathy Hochul has announced nearly 1,000 new future nurses will receive free tuition at CUNY or SUNY campuses starting this fall. The program is part of efforts to strengthen and bolster New York State’s health care workforce. Applicants were announced as winners of the “Nurses for Our Future” Scholarship Program – an initiative designed […]
This summer has been hot and mostly dry with more hot weather forecast for the next week. Governor Kathy Hochul has directed the New York State Department of Environmental Conservation to issue a drought watch for 21 New York counties mostly in Western New York and Long Island after consulting with the State Drought Management […]
Governor Kathy Hochul announced the suspension of certain taxes on motor fuel and diesel motor fuel starting June 1, 2022. The motor fuel excise tax, State sales tax, and Metropolitan Commuter Transportation District sales tax on motor fuel and diesel motor fuel will remain suspended through the end of the year. This fuel taxes suspension […]
NY Governor Kathy Hochul announced that her administration has reached a contract agreement with the New York State Law Enforcement Officers Union, Council 82, AFSCME, AFL-CIO for a 7-year term running until March 31, 2023. The agreement is subject to ratification by union membership, which will occur later this month. The contract, covering corrections, law […]
NY Governor Kathy Hochul announced that the Cannabis Control Board approved 52 Adult-use Cannabis Conditional Cultivator Licenses across the state. These are the first adult-use cannabis licenses granted in New York State and they advance the Seeding Opportunity Initiative. The approved licenses are from a pool of more than 150 that have been submitted to […]
NY Lieutenant Governor Brian Benjamin has resigned Tuesday afternoon after being indicted on bribery and other offenses. Governor Kathy Hochul released the following statement: “I have accepted Brian Benjamin’s resignation effective immediately. While the legal process plays out, it is clear to both of us that he cannot continue to serve as Lieutenant Governor. New […]