Money
From the US Justice Department: A Florida Man Pleaded Guilty in the Southern District of Florida For His Role in a $73 Million Conspiracy to Defraud Medicare
"The Fraud Section leads the Health Care Fraud Strike Force. Since its inception in March 2007, the Health Care Fraud Strike Force, which maintains 15 strike forces operating in 24 federal districts, has charged more than 4,600 defendants who have collectively billed federal health care programs and private insurers for approximately $23 billion. In addition, the HHS Centers for Medicare and Medicaid Services, working in conjunction with the HHS-OIG, are taking steps to increase accountability and decrease the presence of fraudulent providers." "On May 17, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus." more »
Federal Reserve Chairman Jerome Powell: Monetary Policy in the Time of Covid
The Path Ahead: Maximum Employment - The outlook for the labor market has brightened considerably in recent months. After faltering last winter, job gains have risen steadily over the course of this year and now average 832,000 over the past three months, of which almost 800,000 have been in services (figure 2). The pace of total hiring is faster than at any time in the recorded data before the pandemic. The levels of job openings and quits are at record highs, and employers report that they cannot fill jobs fast enough to meet returning demand. These favorable conditions for job seekers should help the economy cover the considerable remaining ground to reach maximum employment. The unemployment rate has declined to 5.4 percent, a post-pandemic low, but is still much too high, and the reported rate understates the amount of labor market slack.5 Long-term unemployment remains elevated, and the recovery in labor force participation has lagged well behind the rest of the labor market, as it has in past recoveries. more »
AFL-CIO: Liz Shuler Has Been Elected to Serve as President of the Federation of 56 Unions and 12.5 Million Members
The AFL-CIO Executive Council has elected Liz Shuler, a visionary leader and longtime trade unionist, to serve as president of the federation of 56 unions and 12.5 million members. Shuler is the first woman to hold the office in the history of the labor federation. As an international representative in the union’s Political/Legislative Affairs Department in Washington, D.C. In that role, Shuler ran grassroots political mobilization efforts and lobbied Congress on a range of issues important to working families. In 2004, she was promoted to assistant to the international president, where she served President Hill, who had succeeded to that position, in driving the agenda of the nearly 1-million member union. more »
CFPB Report: Mortgage Servicers’ Pandemic Response Varies Significantly: Supervisory Data Show Some Servicers Struggled to Assist Borrowers
The report’s data metrics include call handling and loan delinquency rates, and they highlight the industry’s widely varied response to the pandemic. “Many emergency mortgage protections are winding down, and servicers have had ample time to prepare for the millions of distressed homeowners who need their assistance,” said CFPB Acting Director Dave Uejio. “Today’s report should inform servicers’ own data reviews as they determine whether they are doing enough for borrowers. Servicers who find themselves at the bottom of the pack should immediately take corrective steps. The CFPB will hold accountable those servicers who cause harm to homeowners and families.” more »