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Deutsche Bank pays New York $150 million for dealings with Jeffrey Epstein

Photo: Stephanie Keith/Getty Images

Deutsche Bank has agreed to pay the state of New York a $150 million penalty for "significant compliance failures" related to its dealings with now-dead convicted sex offender Jeffrey Epstein, the State Department of Financial Services announced Tuesday.

Why it matters: Deutsche Bank "failed to properly monitor account activity conducted on behalf of the registered sex offender despite ample" public information about Epstein's criminal history, according to regulators. It's the first time any financial institution has been penalized for its dealings with Epstein.

FBI director says China aims to become "world's only superpower"

FBI Director Christopher Wray speaks to the media during a news conference at FBI Headquarters on June 14, 2018 in Washington, DC. Photo: Mark Wilson/Getty Images

FBI Director Christopher Wray gave a speech today at the Hudson Institute in Washington, D.C. in which he laid out "more detail on the Chinese threat than the FBI has ever presented in an open forum."

Why it matters: China's increasingly aggressive behavior under General Secretary Xi Jinping is ringing alarm bells in the U.S.

41 mins ago - Health

Trump administration invests $2 billion in coronavirus drugs

A Novavax researcher prepares to test the vaccine. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

The Department of Health and Human Services and Department of Defense have awarded $1.6 billion to Novavax and $450 million to Regeneron Pharmaceuticals as part of the federal government's efforts to speed up the development of coronavirus treatments.

The bottom line: Federal scientists are holding out hope that these companies' treatments, along with other vaccines in development, will snuff out the spread of the coronavirus.