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BREAKING: CFPB Issues Alert - Beware of New CFPB Imposter Scams
Vermont Captives Off to an Even Stronger Start This Year - Captive.com 01.11.24
"In a recent statement from the Vermont Department of Economic Development, 2023 reflected a strong year for captive insurance in the State of Vermont, and 2024 is already off to an even stronger start. Beyond being recognized globally as the leading domicile for captive insurance, Vermont licensed a total of 38 new captive insurance companies in 2023, making it home to 659 licensed captives, consisting of 632 active and 27 dormant captives."
Consumer Debt Just Topped $5 Trillion for the First Time Ever. Is There Cause for Worry? - Deseret News 01.10.24
"New data from the Federal Reserve shows overall outstanding debt carried by U.S. consumers breached the $5 trillion mark last November, marking an all-time high. Robust holiday spending helped drive up consumer debt by $23.8 billion over October levels and marks the third straight month of increases. A report from Wells Fargo economists notes the main driver of this increase was revolving consumer credit, a category primarily composed of credit cards, which accounted for $19.1 billion of the overall increase. Non-revolving debt also contributed to the increase in November, though it was a more muted $4.6 billion gain and in line with the pace of increases in the two months prior, according to the Wells Fargo report. The 1.5% month-over-month jump marks one of the biggest ever in terms of both percentage change and dollar amount."
Competitive Fees Offered for Potential Spot Bitcoin ETFs to Attract Investors - Bennington Banner 01.10.24
"Crypto investors are anticipating the SEC's potential approval of spot bitcoin ETF applications on Wednesday. Fees for prospective spot bitcoin ETFs are already competitive, with many issuers waiving fees for the initial 6 months to attract investors. Fees range from 0% to a maximum of 1.5%. It's unclear how well a spot bitcoin ETF will track the price of bitcoin itself and bitcoin futures contracts. Performance will need to be monitored once launched. Initial inflows to spot bitcoin ETFs are estimated at $2-3 billion in the first month and $10-20 billion for the full year."
BREAKING: SEC Approves 11 ETFs Holding Bitcoin - Law360 01.10.24
“The U.S. Securities and Exchange Commission on Wednesday approved requests from exchanges to list 11 exchange-traded products holding physical bitcoin in a landmark decision highly anticipated by crypto advocates.”
Vermont Investors to Receive Full Restitution – Public. 01.09.24
February 12, 2024, is the due date defined in the recent DFR order requiring Colomont, Inc. and its former CEO, Christopher Santee, to pay at least $419,000 in restitution to at least 375 individuals to whom Colomont and Mr. Santee sold corporate shares that were not registered with the Department of Financial Regulation. "Last month the Commissioner of Financial Regulation ordered Colomont, Inc. and its former CEO, Christopher Santee, to pay at least $419,000 in restitution to at least 375 individuals to whom Colomont and Mr. Santee sold corporate shares that were not registered with the Department of Financial Regulation (Department). Under the order, Colomont and Mr. Santee are required to repay Colomont investors the amount that each investor originally paid for their shares by no later than February 12, 2024. Colomont and Mr. Santee are also required to pay the Department an administrative penalty of $37,500." (media release)
ESG Programs Struggle for Support - LinkedIn News 01.09.24
"ESG – the term for environmental, social and government efforts – is no longer the sweetheart of corporate jargon. Instead, companies like Coca-Cola are rebranding their social efforts as ‘responsible business’ in an effort to avoid regulatory or public scrutiny, The Wall Street Journal reports. Others are quietly continuing their ESG programs without much fanfare, leading to a drop in the number of companies that mentioned ESG on earnings calls in 2023. However, it appears that many companies remain committed to the values behind the acronym, especially environmental causes in the face of climate change."
Americans Are Racking Up More ‘Phantom Debt’ — Why That’s a Problem - CNBC 01.07.24
"Over the holidays, the use of 'buy now, pay later' loans hit an all-time high. • Because the lenders generally don’t report to the major credit-reporting companies, it’s hard to know exactly how much of this debt is currently out there. • These loans can also be hard for consumers to keep track of, which can lead to debt problems, experts say.| Some types of debt can haunt you. 'Buy now, pay later' loans, especially, can be hard to track, making it easier for more consumers to get in over their heads, some experts say — even more than credit cards, which are simpler to account for, despite sky-high interest rates. Over the holidays, the use of installment payments hit an all-time high, up 14% year over year, according to Adobe’s latest online shopping data. Buy now, pay later is now one of the fastest-growing categories in consumer finance, according to a separate report by Wells Fargo."
Fidelity Sets Bitcoin Fees - LinkedIn News 01.04.24
"As the Securities and Exchange Commission prepares to approve Bitcoin exchange-traded funds (ETFs), two issuers have moved to set their fees. Fidelity Investments plans to charge an annual fee of 0.39% for investors in its Wise Origin Bitcoin Trust, according to Fortune, which cites a court filing. Invesco Galaxy has said it will charge BTCO fund holders 0.59% annually, with the fee waived for the first six months. Although the SEC has yet to approve a spot ETF, signals that it will have led to issuers 'jockeying for an early advantage' to attract investors."
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