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CTH is spending time on this issue because the food distribution sector is the most important sector in all commerce. Having some familiarity with the supply chain might help people to understand the challenges; and possibly help you locate product.The Inversion – Big chain markets; those who spent millions developing their own proprietary ‘just-in-time’ distribution networks and automated ordering systems; are currently the least equipped to deal with the level of demand.  Meanwhile smaller chains, or mom-and-pops, who rely on third-party brokered distribution are faster to respond.Several factors have increased retail market demand for food products and non-perishables.  People stocking...

JPMorgan Chase says it will close 20% of its branches because of the coronavirus pandemic... https://www.cnbc.com/2020/03/18/jpmorgan-says-it-will-close-20percent-branches-because-coronavirus-pandemic.html

Former Federal Reserve chairs Ben Bernanke and Janet Yellen are recommending that the central bank continue trying to shore up the economy against the coronavirus threat, even suggesting that it go beyond the powers it now has. In a Financial Times essay, the two say the Fed should look for more authority that would give it the power to purchase corporate bonds on top of the Treasurys and mortgage-backed securities it already plans to buy. “The Fed’s intervention could help restart that part of the corporate debt market, which is under significant stress,” Bernanke and Yellen wrote. “Such a program...

Congress is taking aim at short-term loans. The Veterans and Consumers Fair Credit Act (H.R. 5050) would set a federal cap on loan interest rates. The intention is to protect consumers, but capping interest rates would have the opposite effect, doing the most harm to those with the least financial means. Proponents cite high annual percentage rates (APR) on small-dollar loans to argue that lenders are taking advantage of desperate borrowers. One problem with this argument is that an annual rate is a poor metric by which to judge a loan with a two-week term. For example, the 36 percent...

JPMorgan Chase announced Monday that it is planning to end loans to companies pursuing fossil fuel drilling in the Arctic Circle, according to reports. The Washington Post reported that the bank said that it will soon complete a 2017 commitment to help fund $200 billion in projects to help meet the U.N.'s sustainable development goals, as well as $50 billion for "green initiatives." The bank also plans to phase out all existing and future loans to the coal industry by 2024, and end the financing of oil and gas extraction projects in the Arctic, a region vulnerable to the effects...

Rep. Jim Banks (R-Ind.) on Thursday said that he has written a letter to California Gov. Gavin Newsom (D) to voice concerns over the state's public pension fund chief and his connections with China. The Indiana congressman is calling out the California Public Employees' Retirement System (CalPERS), the largest state pension fund in the U.S., for allegedly investing in numerous select blacklisted Chinese companies that manufacture military products. The California-based fund invested $3.1 billion into 172 different Chinese companies, Banks said in an appearance on Fox Business Network. He said that some of the companies invested in have been blacklisted...

Imagine starting a business, risking everything and deciding to give it a go on your own. That entrepreneurial spirit is what sets the United States apart from most of the rest of the world; the American Spirit. Now imagine, after all that hard work and risk, some leftist decides they don’t like you or what you’re doing and sets out to ruin what you’ve built, to destroy you. It happens all the time, actually. The “cancel culture,” as it’s called, is just one of many tools in the progressive arsenal. And while stories like the attempted destruction of Gibson’s Bakery...

A group of 15 Democratic senators wrote to 11 major banks last week asking them to ban funding oil and gas drilling or exploration in the Arctic National Wildlife Refuge. "The scale of your banks’ assets individually, let alone together, give you the ability to drive change in protecting the Arctic National Wildlife Refuge and in shifting towards a U.S. financial sector that effectively analyzes and plans for climate risks," the senators wrote. "We respectfully urge you to reassess your current environmental and climate policies and update them to include a prohibition on funding for oil and gas drilling or...

A Detroit man is suing a Michigan bank for refusing to cash a settlement check awarded to him in a racial discrimination lawsuit, according to a report. Sauntore Thomas, 44, claims TCF Bank employees refused to cash or deposit his settlement check on Tuesday at a branch in Livonia, leading cops to respond and a fraud investigation to be launched, the Detroit Free Press reports.

In an explosive legal complaint filed last month in Delaware, attorneys for a major Ukrainian bank alleged that two oligarchs who founded the bank and controlled it from 2006 to 2016 laundered hundreds of millions of dollars in fraudulent corporate loans to purchase assets in the United States and unjustly enrich themselves and their associates. Dubbed the "Optima Schemes" in the 104-page document, these "brazen fraudulent schemes" were successful, among other things, in making the oligarchs and their co-defendants the largest commercial real estate holders in Cleveland. With money siphoned from public bonds and 20 million private Ukrainian citizens who'd...

CHARLOTTE, N.C. — If you're systematically stealing money from a bank vault, it may not be a good idea to post the evidence on your social media pages. A bank employee in Charlotte, North Carolina, allegedly stole $88,000 from the bank's vault, according to a release from the United States Attorney's Office, Western District of North Carolina. And he wasn't bashful about advertising to his social media followers the life of luxury he was funding. The release said a criminal indictment was unsealed this week in federal court after the arrest of Arlando Henderson, 29, by the FBI in San...

The Chinese communist regime is heading towards disintegration and the West needs to be prepared to manage the fallout, according to a leading China scholar. Arthur Waldron, China historian and Lauder Professor of International Relations in the Department of History at the University of Pennsylvania, made the remarks in a recent interview on The Epoch TimesÂ’ American Thought Leaders. He shared his views on the Chinese Communist PartyÂ’s (CCP) imminent collapse, U.S. foreign policy on China, and the relentless Hong Kong protests that have posed a major challenge to BeijingÂ’s rule. CCPÂ’s Disintegration The CCP has started on a path...

In October Cuba’s communist government said citizens could open bank accounts that receive dollars, yen, euros and other European currencies. They will be able to use the money to buy imported goods from new state-owned shops, called Tiendas Moneda Libremente Convertible (or convertible-currency shops), where prices are given in dollars. More than 70 are planned. This ends a ban on dollar transactions introduced in 2004.

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, December 5, 2019 Russian National Charged with Decade-Long Series of Hacking and Bank Fraud Offenses Resulting in Tens of Millions in Losses and Second Russian National Charged with Involvement in Deployment of “Bugat” Malware Reward of up to $5 Million Offered for Information Leading to Arrest or Conviction The United States of America, through its Departments of Justice and State, and the United Kingdom, through its National Crime Agency (NCA), today announced the unsealing of criminal charges in Pittsburgh, Pennsylvania, and Lincoln, Nebraska, against Maksim V. Yakubets, aka...

Rep. Jennifer Wexton, D-10th, wants banks and credit card companies to flag purchases that could signal a person is preparing to carry out a mass shooting, a solution she said could circumvent the usual partisan debate on gun violence. She introduced a bill that would direct an agency of the Treasury Department to figure out how to track buying patterns the same way the government looks for behavior indicative of money laundering, fentanyl trafficking and human smuggling.

A group of Democratic senators, half of whom currently running for president, are supporting a new bill that would direct the Federal Reserve to formally factor climate-change risks into its oversight of large financial firms. Sen. Brian Schatz, (D., Hawaii) announced on Wednesday that he was joining with nine other Democrat senators on the legislation—including presidential hopefuls Sens. Elizabeth Warren (D., Mass.), Michael Bennet (D., Colo.), Cory Booker (D., N.J.), Amy Klobuchar (D., Minn.) and Kamala Harris (D., -Calif.). Rep. Sean Casten (D., Ill.) has introduced a companion bill in the House of Representatives. The bill, if passed, directs the...

Part One: The Banking Houses of Morgan and Rockefeller [VIDEO] The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch. According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation.[1] So who then are the...

Former Vice President Joe Biden bills himself as one of the regular guys and gals, but as a Democratic Senator from Delaware, he cozied up to credit card executives while championing their cause in Congress, making it tougher for average Americans to file for bankruptcy. “Joe Biden pretends that he’s middle-class Joe, and in reality he’s corporate Joe,” Adam Levitin, a law professor at Georgetown University who specializes in bankruptcy, commercial law, and financial regulation, told the Washington Examiner. Biden was a key architect of and whip for the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, which made it...

https://twitter.com/freeHKer/status/1180810938548547584 "China banks are running out of cash in HKD and USD. Maximum withdrawal limit drop from USD1300 to USD38. A drop of 34 times. China financial doom day coming. @Jkylebass @GordonGChang @robert_spalding

Lenders thought it was time to shrink their mortgage businesses. Now they’re finding they were wrong. With rates for home loans sinking to their lowest levels since late 2016, Wells Fargo & Co., the biggest mortgage lender in the U.S., has boosted staffing for the business by about 10% this year and plans to keep hiring. Bank of America Corp. is hiring in areas including sales, processing, and underwriting. The mortgage industry has added almost 5,000 employees since March, a 1.5% gain, according to the Bureau of Labor Statistics. It’s a stark reversal from a year ago, when the Federal...