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>>Regulators Point Finger At Executives For Recent Bank Failures

(Washington, DC) -- Top regulators are testifying before Congress on the collapses of Silicon Valley Bank and Signature Bank. Michael Barr, the Fed's top banking overseer, told a Senate panel Tuesday that Signature Valley Bank failed because management failed to appropriately address clear interest rate risk and liquidity risk. Barr noted the bank's problems were pointed out to Silicon Bank by supervisors starting in November 2021. Meanwhile, Nellie Liang, the Treasury Department's under secretary for domestic finance, explained how regulators stabilized the banking system and "provided depositors with confidence their funds are safe."

 

>>SBF Allegedly Bribed Chinese Official With $40 Million

(Washington, DC) -- Former crypto-king Sam Bankman-Fried is being charged with bribery. Bankman-Fried is accused of bribing a Chinese government official with a 40-million-dollar payment in 2021 when he was the FTX CEO. The new indictment alleges Bankman-Fried directed an employee to bribe the official after Chinese authorities froze several of his accounts worth more than one-billion-dollars. He's already waiting trial after being hit with a list of charges due to the collapse of FTX, formerly one of the globe's biggest cryptocurrency firms. >>Mega Millions Jackpot Grows (Undated) -- The Mega Millions lottery is soaring. There was no grand prize winner in Tuesday night's drawing. That pushes the jackpot up to 355 million ahead of Friday's drawing.

 

>>Tax Tips: Beware of Tax Scams This Filing Season

(New York, NY) -- Tax season often prompts apprehension, but something else stressing out millions of Americans is the presence of tax scams. Among the most common scams are robocalls claiming to be the IRS requesting personal information, calls or texts offering to collect or accelerate your tax refund, or those who say they will do your tax prep for free. Mark Steber, Chief Tax Information Officer at Jackson Hewitt says as a general rule if something sounds too good to be true, it probably isn't, and he adds the best way to stay safe is to arm yourself with knowledge by checking out resource pages like IRS.gov. He also noted the IRS will not initiate contact via phone, adding that if you have concerns about a suspicious offer you can always just ask a tax pro who can usually identify scams quickly.

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