“New York State Department of Financial Services (“DFS”) Superintendent Adrienne A. Harris on December 21, 2022 announced new proposed guidance for New York State-regulated banking and mortgage institutions (“Institutions”) to help them manage safety and soundness risks related to climate change. DFS is issuing the proposed guidance to support efforts by Institutions to identify, measure,… Continue Reading
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Category Archives: Economy
Regulators warn US banks on crypto risks including ‘fraud and scams’ after FTX collapse
CNBC: “U.S. banking regulators warned financial institutions on Tuesday that dealing with cryptocurrency exposes them to an array of risks, including scams and fraud. “The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector,” the regulators said in a joint statement from the Federal… Continue Reading
The History of the House – McCarthy loses speaker bid in third vote
Update, January 7, 2022 – McCarthy elected House speaker after historic battle with GOP rebels “The House has a webpage devoted to its history titled History, Art & Archives. “This site is a collaborative project between the Office of the Historian and the Clerk of the House’s Office of Art and Archives. Together, the offices… Continue Reading
2022’s US climate disasters, from storms and floods to heat waves and droughts
Ars Technica: “The year 2022 will be remembered across the US for its devastating flooding and storms—and also for its extreme heat waves and droughts. By October, the US had already seen 15 disasters causing more than $1 billion in damage each, well above the average. The year started and ended with widespread severe winter… Continue Reading
Google will pay $9.5 million to settle Washington DC AG’s location-tracking lawsuit
engadget: “Google has agreed to pay $9.5 million to settle a lawsuit brought by Washington DC Attorney General Karl Racine, who accused the company earlier this year of “deceiving users and invading their privacy.” Google has also agreed to change some of its practices, primarily concerning how it informs users about collecting, storing and using… Continue Reading
Ways and Means Committee Votes to Release Investigation of the IRS’s Mandatory Audit Program Under the Prior Administration
WASHINGTON, DC, December 30 2022 — The Ways and Means Committee voted to publicly release the Committee’s investigation of the Internal Revenue Service’s (IRS) Mandatory Audit Program under the prior administration. The Committee’s investigation found the mandatory program was dormant, at best, with only one audit opened while the former President was in office, and… Continue Reading
Subpoenaed Fossil Fuel Documents Reveal an Industry Stuck in the Past
The Intercept: “…As part of its investigation into climate disinformation, the House Oversight Committee subpoenaed documents in November 2021 from four of the world’s largest oil companies; their U.S. trade association, the American Petroleum Institute; and the U.S. Chamber of Commerce. The chamber did not comply with the subpoena, but the rest submitted a variety… Continue Reading
World Weather Attribution
“Since 2015 the World Weather Attribution (WWA) initiative has been conducting real-time attribution analysis of extreme weather events as they happen around the world. This provides the public, scientists and decision-makers with the means to make clear connections between greenhouse gas emissions and impactful extreme weather events, such as storms, floods, heatwaves and droughts. We… Continue Reading
What’s gone at Twitter? A data center, janitors, some toilet paper
The New York Times: “Twitter is said to have stopped paying rent at its Seattle office, leading it to face eviction. Janitorial and security services have been cut, and in some cases employees have resorted to bringing their own toilet paper to the office…Elon Musk has reduced the company to a bare-bones operation, and employees… Continue Reading
AI paper mills and image generation require a co-ordinated response from academic publishers
LSE Impact Blog: “The role of AI in the production of research papers is rapidly moving from being a futuristic vision, towards an everyday reality; a situation with significant consequences for research integrity and the detection of fraudulent research. Rebecca Lawrence and Sabina Alam argue that for publishers, collaboration and open research workflows are key… Continue Reading
Cyber attacks set to become ‘uninsurable’
FT.com $ – “The chief executive of one of Europe’s biggest insurance companies has warned that cyber attacks, rather than natural catastrophes, will become “uninsurable” as the disruption from hacks continues to grow. Insurance executives have been increasingly vocal in recent years about systemic risks, such as pandemics and climate change, that test the sector’s… Continue Reading
How Much Lifetime Social Security Benefits Are Americans Leaving on the Table?
How Much Lifetime Social Security Benefits Are Americans Leaving on the Table? David Altig, Laurence J. Kotlikoff, Victor Yifan Ye, November 16, 2022: “Americans are notoriously bad savers. Large numbers are reaching old age too poor to finance retirements that could last longer than they worked. This study uses the 2018 American Community Survey to… Continue Reading
