Financial industry regulation

Perry Santillo walks outside the federal courthouse in Scranton, Pa., Monday, Nov. 4, 2019, after pleading guilty to a federal fraud charge. Prosecutors say Santillo masterminded a Ponzi scheme that took in more than $115 million from investors around the country. (AP Photo/Michael Rubinkam)
November 04, 2019 - 5:31 pm
SCRANTON, Pa. (AP) — The fraudster called himself "King Perry," and for a while he lived like royalty. Perry Santillo masterminded a long-running investment scam that collected more than $115 million from 1,000 investors around the country, using some of the proceeds to fund a lavish lifestyle of...
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FILE - In this Nov. 8, 2018, file photo, the U.S. Medicare Handbook is photographed, in Washington. A new study finds that more than half of seriously ill Medicare enrollees _ 53% _ struggle to pay their medical bills. Prescription drugs are the leading problem. The researchers who wrote Monday’s report in the journal Health Affairs were surprised by their findings, since Medicare is considered relatively good coverage. (AP Photo/Pablo Martinez Monsivais, File)
November 04, 2019 - 4:03 pm
WASHINGTON (AP) — More than half of seriously ill Medicare enrollees face financial hardships with medical bills, with prescription drug costs the leading problem, according to a study published Monday. The study in the journal Health Affairs comes as legislation to curb drug costs for seniors...
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John Gold, self-employed graphics designer, poses at a farmer's market outside his office in Portland, Maine, Wednesday, Oct. 23, 2019. Gold has been covered by the Affordable Care Act since it started, plans on shopping for plans for 2020 again when the enrollment season starts Nov. 1. The 2020 sign-up season for the Affordable Care Act is getting underway with premiums down slightly in many states and more health plan choices for consumers. (AP Photo/Charles Krupa)
October 31, 2019 - 2:22 pm
WASHINGTON (AP) — More Americans are going without health insurance, and stable premiums plus greater choice next year under the Obama health law aren't likely to reverse that. As sign-up season starts on Friday, the Affordable Care Act has shown remarkable resiliency, but it has also fallen short...
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Akamine Kiarie, a college student, says working for Lyft as an independent contractor gives him the freedom to work when he wants and still be able to attend classes, during a news conference in Sacramento, Calif., Tuesday, Oct. 29, 2019. Kiarie supports a proposed ballot initiative by a group called Protect App-Based Drivers and Services that it will push a ballot initiative challenging a recently signed law that makes it harder for companies to label workers as independent contractors. If approved by voters the initiative would guarantee that drivers remain independent contractors but also receive a minimum wage and money for health insurance. (AP Photo/Rich Pedroncelli)
October 29, 2019 - 5:39 pm
SACRAMENTO, Calif. (AP) — Some of the country's largest ride-sharing companies proposed a California law on Tuesday that would let them continue to treat drivers as independent contractors while also guaranteeing them a minimum wage and money for health insurance. The state Legislature enacted...
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Facebook CEO Mark Zuckerberg testifies before a House Financial Services Committee hearing on Capitol Hill in Washington, Wednesday, Oct. 23, 2019, on Facebook's impact on the financial services and housing sectors. (AP Photo/Andrew Harnik)
October 23, 2019 - 6:19 pm
WASHINGTON (AP) — Facebook CEO Mark Zuckerberg endured hours of prickly questioning from lawmakers Wednesday as he defended the company's new globally ambitious project to create a digital currency while also dealing with widening scrutiny from U.S. regulators. Representatives also grilled...
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FILE - In this April 11, 2018, file photo, Facebook CEO Mark Zuckerberg pauses while testifying before a House Energy and Commerce hearing on Capitol Hill in Washington about the use of Facebook data to target American voters in the 2016 election and data privacy. Zuckerberg plans to tell Congress Wednesday, Oct. 23, 2019, that the company’s planned Libra cryptocurrency won’t launch unless all U.S. regulators approve. (AP Photo/Andrew Harnik, File)
October 22, 2019 - 5:25 pm
SAN FRANCISCO (AP) — Facebook CEO Mark Zuckerberg aims to reassure Congress on Wednesday that his company won't try to evade financial regulators as it prepares its planned digital currency Libra. In prepared remarks released Tuesday ahead of a hearing before the House Financial Services Committee...
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FILE - This April 22, 2005, file photo, shows logos for MasterCard and Visa credit cards at the entrance of a New York coffee shop. Visa and Mastercard are dropping out of Facebook’s Libra project, a potentially fatal blow to the social network’s plan for a worldwide digital currency, Friday, Oct. 11, 2019. (AP Photo/Mark Lennihan, File)
October 12, 2019 - 8:05 am
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. On Friday, Visa and MasterCard announced their departures from the Libra project, as did e-commerce giant eBay and payments startup Stripe. Last week,...
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October 10, 2019 - 3:43 pm
WASHINGTON (AP) — The Federal Reserve has approved a package of rules that will ease restrictions imposed on banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump, a vocal critic of the more stringent rules. The Fed's rule changes approved...
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FILE - In this April 11, 2018, file photo, Facebook CEO Mark Zuckerberg testifies before a House Energy and Commerce hearing on Capitol Hill in Washington about the use of Facebook data to target American voters in the 2016 election and data privacy. Attorney General William Barr wants Facebook to give law enforcement a way to read encrypted messages sent by users, re-igniting tensions between tech companies and law enforcement. (AP Photo/Andrew Harnik, File)
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October 09, 2019 - 3:34 pm
WASHINGTON (AP) — Facebook CEO Mark Zuckerberg will appear before Congress this month as the tech giant is under pressure from lawmakers and regulators over its massive market power and record of privacy breaches. Rep. Maxine Waters, the California Democrat who heads the House Financial Services...
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In this, Monday, Oct. 7, 2019 photo, David Schaecter, president of the Holocaust Survivors Foundation USA (HSF), gestures as he speaks during an interview with The Associated Press in Aventura, Fla. Aging Holocaust survivors are trying to recover insurance benefits that were never honored by Nazi-era companies, which could be worth billions of dollars. The companies have demanded original paperwork, such as death certificates, that were not available after World War II. The survivors want to take insurance companies to court in the U.S. to recover the money, but it would take an act of Congress to allow it. (AP Photo/Wilfredo Lee)
October 08, 2019 - 5:00 pm
AVENTURA, Fla. (AP) — When David Schaecter was a child in Slovakia in the 1930s, he counted more than 100 people in his extended family. By the end of World War II, he alone survived. The rest had been killed in Nazi concentration camps or by roving SS death squads. Schaecter lost not only his...
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