Tag

Regulatory Problems

All articles tagged with #regulatory problems

Amtrak's Acela trains plagued by delays, cost overruns, and federal standards issues
transportation2 years ago

Amtrak's Acela trains plagued by delays, cost overruns, and federal standards issues

Amtrak's new high-speed Acela trains may face further delays due to regulatory problems and defects, according to a report by Amtrak's inspector general. The report highlighted issues such as water drainage problems causing corrosion and spontaneously shattered windows. The new trains were originally scheduled for service in 2021 but have encountered multiple challenges, including the COVID-19 pandemic. The delays are disappointing for passengers eagerly awaiting the improved train sets, which could reach speeds of 160 mph. The report raises doubts about the project's timeline and final cost, leading to potential higher maintenance costs for the aging fleet.

Credit Suisse Accused of Helping Americans Evade Taxes
finance2 years ago

Credit Suisse Accused of Helping Americans Evade Taxes

Credit Suisse has been helping wealthy American clients hide assets from the IRS for years, according to two former Credit Suisse bankers who spoke in exclusive interviews with CNBC and are working with the U.S. government as whistleblowers. The bank notoriously pleaded guilty in 2014 to criminal charges for "knowingly and willfully" helping thousands of U.S. clients conceal their offshore assets and income from the IRS. The Senate Finance Committee released a report detailing ongoing and rampant abuse since then, which could trigger a host of repercussions if the Justice Department presses the case.