TD Bank to pay $3B, face growth cap over money laundering violations
Toronto-Dominion Bank, commonly known as TD Bank, pleaded guilty Thursday to violating federal anti-money laundering and bank transparency laws, agreeing to pay more than $3 billion and restrict its future growth. Canada-based TD Bank will pay billions of dollars in fines and fines to multiple federal agencies, including the Federal Reserve and the Office of […]
Trump pledges to nix double taxation for Americans abroad
New to former President Trump's list of campaign tax proposals is a plan to eliminate double taxation on Americans living abroad. “I support eliminating double taxation on Americans overseas,” President Trump said in a statement shared with The Hill on Thursday. Americans living abroad may have tax obligations both to the United States and to […]
Social Security announces 2.5 percent cost-of-living adjustment for 2025
For social security recipients, 2.5 percent bump As part of the 2025 Cost of Living Adjustment (COLA). The increase announced Thursday was the smallest in years and was in line with experts' expectations as inflation appears to be easing to some extent. Millions of recipients saw the biggest increase in benefits last year, at 8.7%, […]
Post-Milton gas in Florida will be a challenge: GasBuddy founder
(news nation) — Many gas stations in West Florida are out of gas, and replenishment won't happen overnight even after Hurricane Milton passes, experts who track gas prices across the country said. . “Nearly a quarter of Florida's gas stations are out of gas,” said Patrick de Haan, the institute's petroleum analyst director. Gasoline analysis […]
Fed shrugs off downturn concerns in latest minutes
Despite recent concerns from business leaders that the economy could slide into contraction within the next six months, U.S. central bankers see the economic outlook as fundamentally sound. Minutes from the latest meeting of the Federal Reserve's rate-setting committee show that bankers are confident about the immediate state of the U.S. economy. “The majority of […]
FEMA has enough money to respond to Hurricanes Helene and Milton
Despite the misinformation swirling in recent days, the Federal Emergency Management Agency (FEMA) is in no danger of running out of funds to help survivors in the immediate aftermath of a disaster. The agency has enough funds to deal with the effects of hurricanes Helen and Milton, although long-term funding is questionable. “I have funding […]
Mortgage applications drop 5.1 percent as rates rise despite Fed cuts
Mortgage applications fell earlier this month as interest rates rose following September's strong employment report. Recent data from the Mortgage Bankers Association's (MBA) Weekly Application Survey shows the number of applications for mortgage loans. decreased by 5.1% In the first week of October. Mike Fratantoni, Senior Vice President and Chief Economist, said, “Following strong economic […]
CVS, UnitedHealth press for FTC Chair Khan to be removed from PBM lawsuit
UnitedHealth and CVS Caremark have asked a federal judge to block Federal Trade Commission (FTC) Chair Lina Khan and two other commissioners from the agency's lawsuit against the nation's largest pharmacy benefit manager (PBM). I'm asking for it to be taken away from. Lawyers for UnitedHealth's OptumRx and CVS Caremark say Khan, along with Commissioners […]
Honda recalling 1.7M vehicles over steering concerns
honda has recalled Approximately 1.7 million units Wednesday's announcement was due to defective parts in the steering gearboxes of various Honda and Acura models manufactured from 2022 to 2025. The defect can result in unusual steering noise, increased steering force, or “sticky” steering, the company said. This recall affects Honda models including the 2022-25 Civic […]
Ocasio-Cortez promises 'brawl' if 'billionaires' force out Lina Khan
Rep. Alexandria Ocasio-Cortez of New York said Wednesday that wealthy Democratic donors would “fight a fight” if they tried to oust Federal Trade Commission Chairwoman Lina Khan from a potential Harris administration. I swore it would happen. “Let's be clear: Billionaires are trying to play tricks on tickets. If anyone approaches Lina Khan, there will […]