New Yorks financial regulator promoted Scott Fischer to be the states top insurance watchdog, a position that involves overseeing about 1,700 companies with more than $4 trillion of assets.
U.S. District Judge Rosemary M. Collyer said that the Financial Stability Oversight Councils action was arbitrary and capricious and that the panel didnt follow its own guidelines.
Automakers, facing stiff fines for lackluster recall completion rates, are going to new lengths to reach owners of the millions of cars with known safety defects that remain on the road.
U.S. safety regulators proposed a remake of the 5-star crash-test ratings system for automobiles to take into account new technologyand new test dummies.
The allegations illustrate the challenge facing banks and credit-card processors already under heightened pressure to detect suspicious transactions and thwart money laundering.
A record penalty that could reach $105 million isnt the only imposition U.S. auto-safety regulators are making on Fiat Chrysler: Its also getting a house guest.
Identity thieves stole information on 104,000 U.S. taxpayers from the IRS website and used the data to file fake tax returns that yielded as much as $50 million in refunds, agency Commissioner John Koskinen said.