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financial 4 articles

NY AG proposes financial industry whistleblower law


New York’s Attorney General proposed a bill Thursday that would protect and reward big bounties to whistleblowers who report fraud and other misconduct in the banking, insurance, and financial service industries. Attorney General Eric Schneiderman said New York “has a unique opportunity to set the gold standard for states seeking to expose and hold individuals accountable for financial crimes.” Currently the state has no program or laws to protect or incentivize whistleblowers in the financial sector. The proposed Financial Frauds Whistleblower Act would open the door to big whistleblower rewards with the intent of encouraging those who witness securities fraud ... Read More

UNC-Chapel Hill whistleblower says academic fraud scheme kept many athletes enrolled

osha whistle

A University of North Carolina at Chapel Hill whistleblower told school officials Tuesday that many students, most of them athletes, were taking classes that actually never occurred. Mary Willingham, an instructor and advisor, has become a key figure amid ongoing accusations and investigations of academic fraud at the school. Ms. Willingham told UNC’s Faculty Athletics Committee the school was aware of a long-running scam to help some students meet the university’s academic requirements and remain eligible. She was one of the first people to speak out against the alleged practice, which occurred within the African and Afro-American Studies program. An ... Read More

Sudden acceleration, other woes spell long recovery for Toyota

Toyota has fallen, but it might take years for it to get back up. According to Forbes, the Japanese auto giant’s share of the U.S. market has slid from 17 percent for all of 2009 to 11.5 percent in September. Making matters worse for the company is the fact that its sales were eclipsed last month by Chrysler Group LLC, an automaker that almost ceased to exist a couple of years ago and one which historically has always trailed far behind Toyota. Just four years ago, Toyota usurped General Motors as the world’s leading automaker, so what happened? Most analysts ... Read More

One year after BP oil spill, many Gulf Coast businesses on brink of collapse

One year ago today BP’s Deepwater Horizon rig was consumed by flames, its weakening frame on the verge of collapsing into the sea it fed upon. Today, that image provides a fitting metaphor for thousands of small businesses in Louisiana, Mississippi, Alabama, and the Florida panhandle that continue to struggle with severe declines in revenues ever since BP’s massive oil slick overtook this part of the Gulf. According to a report by the Wall Street Journal, many small business owners in the tourism and seafood industry fear the year-old oil spill will put them out of business soon if visitors ... Read More