>>Clients In FTX Scandal Could Be Revealed In Court Today
(Wilmington, DE) -- A federal judge could decide today whether to reveal the names of the roughly one-million clients caught up in the FTX crypto scandal. Bankruptcy Judge John Dorsey will hear arguments from the New York Times, Dow Jones, Bloomberg and Financial Times about why clients of the cryptocurrency company no longer deserve anonymity. FTX representatives say revealing the names would violate privacy rules and allow rivals to "poach" their clients.
>>JPMorgan Chase CEO Revises Economic Outlook
(New York, NY) -- The CEO of JPMorgan Chase is walking back predictions of an economic "hurricane" this year. CEO Jamie Dimon now says there may be more "storm clouds" on the economic horizon, but he's more optimistic for the American consumer. He has previously said the "hurricane" was taking the shape of a hard-hitting recession. He said Tuesday the U.S. could actually see a "Goldilocks mild recession."
>>U.S. Household Debt Hits $16.5 Trillion
(Undated) -- The average U.S. household is around 165-thousand-dollars in debt. That's according to a new study by NerdWallet, which found the national U.S. household debt total has risen to 16-point-five-trillion-dollars, nearly eight percent higher than last year. While the average amount of student loan debt has gone down, mortgages, auto loans, and overall debt has increased. According to the study, the median household income only grew by four-percent last year, while cost of living rose eight-percent.
>>Wells Fargo Is Stepping Back From Mortgage Servicing
(San Francisco, CA) -- Wells Fargo is pulling back from the U.S. housing market. CNBC is reporting that the biggest mortgage-lending bank in America is shrinking its mortgage business and instead will focus on home loans for its existing customers and for borrowers in minority communities. The decision appears to have been made because climbing interest rates have made it more expensive to buy a home in the U.S. The move is expected to result in layoffs in Wells Fargo's mortgage operations, but they haven't said how many jobs could be lost.
