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☆ Crypto relationship scams pose 'catastrophic harm,' SEC official says. Here's how to avoid them
▼ + stars: | 2024-10-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

krisanapong detraphiphat | Moment | Getty ImagesInvestors are at a heightened risk of cryptocurrency scams tied to fake relationships established over social media, dating apps and networking sites, federal officials warn. Last month, the SEC brought its first-ever enforcement actions tied to crypto relationship frauds. Crypto scam losses 'can be huge'Crypto, examples of which includes bitcoin and ethereum, is a digital currency. watch nowThere are "many variations" of crypto investment fraud, but the most prominent last year was the relationship scam, the FBI said. Jules, a victim of a crypto relationship scam, detailed her experience with the crime on a new FINRA podcast.

Persons: krisanapong, Fraudsters, Grewal, CoinW6, Kim Casci, Palangio, Micah Hauptman, Hauptman, Jules, —, Crispin La Valiente Organizations: Finance, FBI, Securities, Exchange Commission's, SEC, LinkedIn, Federal Bureau of Investigation, Consumers, Support, Financial Industry Regulatory Authority, Consumer Federation of America Locations: Seattle

☆ Wall Street's typical career path might have a massive detour thanks to AI
▼ + stars: | 2023-09-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

As for today's edition, we're looking at how AI could upend the job of the junior banker, and the effect that'll have on Wall Street's traditional career path. AdvertisementAdvertisementAspiring financiers need to look no further than investment banks' analyst programs to get a foot in the door. But this crucial piece of Wall Street's ecosystem could be upended by the rise of artificial intelligence. AdvertisementAdvertisementBuy-side firms have largely held off on going after college graduates, instead pointing them toward banks' analyst programs. Regardless of what direction things go, what's clear is the type of work AI excels at falls directly in junior bankers' wheelhouse.

Persons: Insider's Bianca Chan, Emmalyse Brownstein, Alyssa Powell, Steve Cohen's, Cohen, millennials, Elon Musk, Mark Zuckerberg, Jeff Bezos, ChatGPT, Xavier Lalanne, It's, Saint, Givenchy, Donald Glover, Childish Gambino, Will Smith, Catherine Zeta, Jones, krisanapong detraphiphat, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Guild of America, Hollywood, Tech, LinkedIn, Meta, National, Costco, Lowe's, Tractor Supply, Brands, Getty Images Finance Locations: Wall, Silicon, Paris, New York City, San Diego, London, New York

☆ Average consumer carries $5,947 in credit card debt — a 10-year high
▼ + stars: | 2023-08-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

On the heels of another rate hike last month by the Federal Reserve, the average credit card rate is now more than 20% on average, an all-time high. "People aren't financing purchases at 20% because they have other options," said Greg McBride, chief financial analyst at Bankrate. "As a result, they are tapping into these available credit products to help them cope with rising expenses." As the number of credit card accounts in the U.S. rose, delinquencies notched higher, the report said. How to tackle high-interest credit card debtkrisanapong detraphiphat | Moment | Getty Images

Persons: John Sedunov, Greg McBride, Sedunov, Gen, TransUnion, Michele Raneri, Raneri Organizations: New York Fed, Villanova University's School of Business, Federal Reserve, Bankrate, TransUnion Locations: U.S

☆ Another interest rate hike is likely coming from the Federal Reserve: Here are 5 ways it could affect you
▼ + stars: | 2023-07-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

"Rising interest rates can sometimes feel like a double-edged sword," said Kelly LaVigne, vice president of consumer insights at Allianz Life. As the federal funds rate rises, the prime rate does, as well, and credit card rates follow suit. The average credit card rate is now more than 20% — an all-time high, while balances are higher and nearly half of credit card holders carry credit card debt from month to month, according to a Bankrate report. Student loans Federal student loan rates are also fixed, so most borrowers aren't immediately affected by the Fed's moves. For now, anyone with existing federal education debt will benefit from rates at 0% until student loan payments restart in October.

Persons: Stefani Reynolds, they've, Kelly LaVigne, Brett House, WalletHub, Freddie Mac, Edmunds, Ivan Drury Organizations: Eccles Federal Reserve, Bloomberg, Getty, Reserve, Fed, WalletHub, Allianz Life, Columbia Business School, Treasury, Istock Locations: Washington, Edmunds

Following the trade, Jim Cramer's Charitable Trust will own 275 shares of PANW, decreasing its weighting in the portfolio to 2.21%, from 2.41%. Now that our trading restrictions have cleared, we're taking profits in cybersecurity leader Palo Alto Networks . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: we'll, Jim Cramer's, Palo, Jim Cramer, shouldn't, Jim, Krisanapong Organizations: Palo Alto Networks, Palo, CNBC Locations: Palo Alto, overbought

☆ Healthcare, college education, and childcare started getting worse decades ago. Now we're all finally feeling it.
▼ + stars: | 2023-04-08 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

Americans are accruing billions in debt to pay for things like education and healthcare. But that would require shifting the idea of childcare, education, and healthcare and thinking of them as public goods — not businesses. That ultimately meant millions in funding for public childcare. "If the US health system was a country, it would be about the fourth-largest country in the world," Cooper said. There's much less government involvement in the US healthcare system than in other countries, Cooper said.

☆ I spent hours exploring 2 virtual worlds in Walmart's new shopping metaverse. It provided a relaxing pace, but I decided I'd rather shop the store in person.
▼ + stars: | 2022-09-28 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: 1 min

My final verdict is that the Walmart metaverse is not for me. There's an incredible amount of freedom to explore these virtual worlds at your own pace. Yet that left me ambling aimlessly from one virtual stone pathway to another. I could feel my eyes glazing over as I neared my third hour in the metaverse. Justice Scales and books and wooden gavel - stock photo krisanapong detraphiphat / Getty Images

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