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During the first weeks of the Biden administration, Americans have been treated to an unusual sight in Washington: regulators who believe in regulation. Donald Trump seemed to scour the earth for candidates who would produce the most liberal tears, appointing former lobbyists, financiers, ideologues and corporate titans.
President Biden’s appointees and nominees, by contrast, do not adamantly oppose the mission of the agencies they aspire to lead. More than that: Some of his early choices are among the most aggressive financial and corporate regulators of recent years.
Key financial regulatory positions remain unfilled, and progressives oppose some leading candidates. Still, the left is experiencing a once-inconceivable feeling: It’s … not unhappy?
Lessons from the 2008 recession for 2021
Published 2 months ago
The latest GDP figures showed that the UK is on track for a ‘double-dip recession’ with the Chancellor, Rishi Sunak, warning of ‘harder’ times to come as GDP fell 2.6% during the second coronavirus lockdown in November. While news of another recession will come as little surprise to most given the restrictions enforced on businesses during the pandemic, the scale of it is nevertheless shocking. The 11.3% decline is the biggest in three centuries, far exceeding the 6% financial crash of 2008.
Back then, the economy took five years to recover to the size it was before the recession. And, although the scale and nature of the economic crash is different to anything ever experienced previously, there are still some useful lessons we can learn from 2008 to help accelerate our recovery:
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ACNB Corporation Reports 2020 Financial Results
ACNB CorporationJanuary 29, 2021 GMT
Fourth Quarter and Year-End 2020 Highlights Net income for the three months ended December 31, 2020, totaled $7,049,000, which is an increase of $1,968,000 or 38.7% over comparable period results for the three months ended December 31, 2019. Basic earnings per share was $0.81 and $0.72 for the three months ended December 31, 2020 and 2019, respectively. Net income for the year ended December 31, 2020, totaled $18,394,000, with basic earnings per share of $2.13. This reflects a decrease of $5,327,000 or 22.5% below comparable period results for the year ended December 31, 2019, and is due primarily to one-time merger-related expenses of $5,965,000 in connection with the Frederick County Bancorp, Inc. (FCBI) acquisition and a higher provision for loan losses of $9,140,000 resulting mainly from the in
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STAMFORD, Conn., Jan. 29, 2021 /PRNewswire/ Synchrony Financial (NYSE: SYF) today announced fourth quarter 2020 earnings results amid the continuing Coronavirus (COVID-19) pandemic. Synchrony reported fourth quarter 2020 net earnings of $738 million, or $1.24 per diluted share.
Key Highlights .
Interest and fees on loans decreased 11% to $4.0 billion
Purchase volume decreased 1% to $39.9 billion
Average active accounts decreased 10% to 66.3 million
Deposits decreased $2.3 billion, or 4%, to $62.8 billion
Renewed Payment Solutions programs with Mattress Firm and Kawasaki, and added a new program with Doosan Bobcat
Added new CareCredit programs with Walgreens and the Community Veterinary Partners, renewed program with Aspen Dental, and acquired Allegro Credit, a leading provider of point-of-sale consumer financing for audiology products and dental services