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Tech Support Scammers Stole $85,000 From Him. His Bank Refused a Refund.

✇NYT | Top Stories
By: Tara Siegel Bernard
12 December 2025 at 18:01
A retired lawyer lost the money in a tech support scam, a type of online fraud that is surging. Citibank said it couldn’t recover the funds, which criminals wired from inside his account.

© Victor J. Blue for The New York Times

David Welles, 87, was ensnared in a tech support scam that allowed fraudsters to take over his personal devices with remote access software. They made a wire transfer of $85,000 from his bank account.

This Isn’t the First Time the Fed Has Struggled for Independence

✇NYT | Top Stories
By: Jeff Sommer
11 December 2025 at 22:57
The Trump administration is threatening the Fed’s autonomy, which the central bank regained with the Treasury-Fed accord in 1951.

© Anna Rose Layden for The New York Times

In the decades before 1951, the Federal Reserve functioned, to a large extent, as an adjunct of the Treasury and the White House.
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