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Bernie Madoff, former Wall Street kingpin and mastermind of the largest Ponzi scheme in history, died Wednesday at the age of 82 in prison while serving his 150-year sentence. He spent about 12 years in prison for engineering a fraud as high as $65 billion. His death resulted from natural causes as he had been [...]

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Regulators need to know what happens out in the world to understand and to oversee the industries under their supervision. Information flow may be a particular challenge for overseeing payday lending. At present, most states do not have database systems to track payday lending operations. Even when states do have database systems, federal regulators may [...]

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Convicted Ponzi-schemer Bernie Madoff filed a petition for clemency with the Justice Department Monday. Madoff was arrested in December 2008 for defrauding investors of billions of dollars while head of the investment firm Bernard L. Madoff Investment Securities LLC. In June 2009 Madoff was sentenced to 150 years in prison for his crimes. According to [...]

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Under current leadership, the federal Consumer Financial Protection Bureau (Bureau) seems committed to only grudgingly protecting consumers from unfair and exploitative financial products.  In its strategic plan, former Acting Director Mick Mulvaney explained that the Bureau had “committed to fulfill the Bureau’s statutory responsibilities, but go no further.”  This language aligns with Mulvaney’s earlier change [...]

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