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Treasury officials told of IRS probe in June 2012
Senior Treasury officials were made aware in June 2012 that investigators were looking into complaints from tea party groups that they were being harassed by the Internal Revenue Service, a Treasury inspector general said Friday, disclosing that Obama administration officials knew there was a probe during the heat of the ...
US wholesale prices fall 0.7 pct., most in 3 years
Sharp drops in fuel and food costs reduced a measure of U.S. wholesale prices in April by the most in three years. Outside those volatile categories, inflation stayed tame. The producer price index, which measures price changes before they reach the consumer, fell a seasonally adjusted 0.7 percent in April ...
Federal Reserve: Smartphone Fraud Rising
There's growing concern at the Federal Reserve and the banking industry about increasing attacks on smartphones by fraudsters. (May 15)
Feds in NYC: Hackers stole $45M in ATM card breach
A worldwide gang of criminals stole $45 million in a matter of hours by hacking their way into a database of prepaid debit cards and then draining cash machines around the globe, federal prosecutors said Thursday — and outmoded U.S. card technology may be partly to blame. Seven people are ...
Van maker backed by Energy Dept. loans shuts down
A Michigan company that received a $50 million federal loan to make vans for the disabled has stopped production and laid off its 100 workers. Vehicle Production Group, or VPG, suspended operations in February after its finances dipped below a minimum level required as a condition of the federal loan. ...
House passes bill to prioritize US debt payments
The GOP-controlled House voted Thursday to make sure U.S. bondholders and people on Social Security get paid if the government hits its borrowing limit. The move comes as Republicans grapple with the hot-potato issue of raising the government's borrowing limit later this year, one of the few must-do items on ...
High hospital bills go public, but will it help?
For the first time, the government is publicly revealing how much hospitals charge, and the differences are astounding: Some bill tens of thousands of dollars more than others for the same treatment, even within the same city. Why does a joint replacement cost 40 times as much at one hospital ...
As the Dow breaks 15,000, is it too late to buy?
Are stocks worth buying now? With the Dow Jones industrial average breaking through 15,000, it's natural to worry that stocks have gone up too far. But higher priced stocks aren't necessarily overpriced. They may still be a good deal if corporate earnings are rising fast, and you think that trend ...
Fed keeps stimulus, says taxes and cuts have hurt
The Federal Reserve cautioned America's political leaders Wednesday that their policies are hurting the economy. The Fed stood by its aggressive efforts to stimulate the economy and reduce unemployment. But it sent its clearest signal to date that tax increases and spending cuts that kicked in this year are slowing ...
Congressman, former lobbyist get housing, FCC nods
President Barack Obama acted Wednesday to fill two top regulatory posts, tapping a veteran Democratic congressman to lead the Federal Housing Finance Agency at a pivotal time for the housing market and naming a top campaign fundraiser and former lobbyist to head the Federal Communications Commission. Rep. Melvin Watt, D-N.C., ...
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