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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the Fed expects more bank failuresOf about 4,000 U.S. banks analyzed by the Klaros Group, 282 banks face stress from commercial real estate exposure and higher interest rates. The majority of those banks are categorized as small banks with less than $10 billion in assets. "Most of these banks aren't insolvent or even close to insolvent. They're just stressed," Brian Graham, Klaros co-founder and partner at Klaros. "That means there'll be fewer bank failures.

Persons: They're, Brian Graham, Klaros Organizations: Fed, Klaros

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy so many U.S. cities are in financial troubleSpending cuts are occurring across many U.S. cities as inflation lingers and pandemic-era stimulus dries up. At least 53 major cities have debt obligations that outstrip assets, according to an estimate from Truth in Accounting. The nonprofit group estimates higher debt burdens than many public officials acknowledge because of allegedly underreported retiree benefits. The rising public debt may potentially leave future generations on the financial hook for decisions made by today's leaders.

Organizations: today's Locations: U.S

☆ Here's why FEMA has spent about $4 billion to help destroy flood-prone homes
▼ + stars: | 2024-04-22 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +5 min

'I have no regrets'Andrea Jones accepted a floodplain buyout for her home in the Charlotte, North Carolina, area. CNBCAndrea Jones, 59, sold her home in the Charlotte, North Carolina, area in a floodplain buyout. On average, federal buyouts can take two to five years, though 80% of the FEMA acquisitions are approved in less than two years. Jones' buyout was delayed by the pandemic, but once she started the process up again in May 2022, things moved quickly. In addition to FEMA, the U.S. Department of Housing and Urban Development and many state and local communities fund floodplain buyouts.

Persons: Siders, Andrea Jones, CNBC Andrea Jones, Jones, Andrea Jones Jones, they're, Mathew Sanders, Sanders Organizations: Federal Emergency Management Agency, FEMA, University of Delaware's, Program, CNBC, Finance, Charitable, Congressional Research Service, U.S . Department of Housing, Urban Development Locations: Charlotte , North Carolina

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow floodplain buyouts workThe U.S. government is buying up and destroying American homes. Homeowners in the floodplain are choosing to voluntarily sell their doomed properties to the government. Since 1989, FEMA has helped fund around 45 to 50,000 home buyouts. FEMA is estimated to have spent somewhere around $4 billion on the project so far but that's just a fraction of the total amount spend on buyouts, since there are programs outside of FEMA. But not everyone is convinced buyouts are a good idea.

Organizations: Homeowners, FEMA Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhere a $100,000 salary still buys the American DreamMore than half (52%) of Americans say they would need at least $100,000 a year to be financially comfortable, according to the August 2023 CNBC Your Money Survey. It's becoming increasingly more difficult to achieve the American Dream, especially as younger generations are beginning their adulthood with thousands of dollars in student loans. Watch the video above to learn more about how much it costs to achieve the American Dream.

Organizations: Survey

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Congress is regulating artificial intelligenceSome businesses using new artificial intelligence tools have reported big gains in labor productivity. These AI assistants, backed by some of the biggest names in tech, could someday change how work gets done in the U.S. As the technology shuffles up white-collar work in the U.S., some policymakers are pitching ideas like 32-hour work weeks and robot taxes. Meanwhile, other countries are banning high-risk uses of AI in sectors like education and financial services.

Locations: U.S

☆ New EPA limits on 'forever chemicals' in drinking water could cost $1.5 billion to implement
▼ + stars: | 2024-04-10 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +1 min

Signage is seen at the headquarters of the United States Environmental Protection Agency (EPA) in Washington, D.C., U.S., May 10, 2021. The Environmental Protection Agency, EPA, released long-awaited regulations Wednesday on some toxic "forever chemicals" found in drinking water. The bonds are incredibly strong and take a very long time to break down, earning them the nickname "forever chemicals." The EPA's new final rule sets limits on 5 individual PFAS: PFOA, PFOS, PFNA, PFHxS, and HFPO-DA (also known as GenX Chemicals.) The EPA also set a Hazard Index level for PFAS when two or more of four are mixed: PFNA, PFHxS, HFPO-DA, and PFBS.

Persons: Tom Neltner Organizations: United States Environmental Protection Agency, Washington , D.C, Environmental Protection Agency, EPA, CNBC, Environmental Defense, Safer Chemicals, . Geological Survey, GenX Chemicals Locations: Washington ,

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's how you know it's time to leave your jobA majority of Americans, 95%, said they plan to look for a new job in 2024, according to a survey by job site Monster. Money's a big part of this: 45% of American workers say they need a higher income. Data from the Federal Reserve shows that job switchers increase their salary more quickly on average than those who stay put, but hiring professionals say it's still important for candidates to be strategic when making career moves.

Organizations: Federal Reserve

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy shipping containers can fuel inflationContainer shipping is responsible for moving 90% of the world's goods, according to the World Economic Forum. But, if shipping containers aren't at the right place at the right time, the global supply chain may face serious problems. It could result in high inflation, shortages of key materials and products as well as revenue losses to large and small businesses alike.

Organizations: Economic

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomists discuss the effects of climate change on the U.S. economyAs the climate crisis continues to pose a global threat, top economists are debating its effects on the U.S. economy. In this episode of "The Bottom Line," see how renowned economists such as Jeffrey Sachs and Mark Zandi forecast the economic impact.

Persons: Jeffrey Sachs, Mark Zandi Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the U.S. can't solve immigration2023 saw record-breaking numbers of migrant crossings at the southwestern border, with Border Patrol reporting nearly 250,000 encounters in December alone. But today, less than 1% of those looking to reside permanently in the U.S. can do so legally, according to the CATO institute. Transactional Records Access Clearinghouse estimates that the immigration court currently has a backlog of over 3 million cases. So how did the immigration system in the U.S. get so broken? And can it ever be fixed?

Persons: CATO Organizations: Border Patrol Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow California became a hot spot for expensive gas pricesCalifornia is home to some of the highest gas prices in the United States, according to AAA. High taxes are partly to blame since the Golden State has the highest gasoline taxes in the nation, according to the U.S. Energy Information Administration. But, there's more to the story. Watch the video above to learn more about what is driving gas prices higher and how drivers can save money.

Organizations: AAA, Golden State, U.S . Energy Information Administration Locations: California, United States

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the immigration crisis is bankrupting U.S. citiesThe ongoing migrant crisis is unprecedented, both in scale and the effect it has had beyond the border states to cities located deep within the country. Major cities such as New York, Denver and Chicago are finding themselves under extreme financial pressure, exacerbated by the lack of federal funding or assistance. So just how long can cities withstand the recent surge of migrants and what do they need to end the crisis?

Locations: U.S, New York, Denver, Chicago

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe hidden reason some U.S. homes are losing valueMany homeowners in the U.S. are losing their home insurance policies. Major insurers like State Farm and Allstate are no longer offering new policies in California. State Farm attributes this to increased wildfire risk, inflation and other challenges in the region. Louisianan and Floridian homeowners are facing similar issues due to flood risk. Watch the video to learn more about why homeowners are receiving non-renewal notices and what that means for the U.S. real estate market.

Organizations: Farm, Allstate, U.S Locations: U.S, California ., Louisianan

☆ Insurers such as State Farm and Allstate are leaving fire- and flood-prone areas. Home values could take a hit
▼ + stars: | 2024-02-05 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +3 min

What happens when a homeowner can't get insuranceDarlene Tucker and Tom PinterWithout insurance, many homeowners can find themselves in big financial trouble. Darlene Tucker, 66, and Tom Pinter, 68, are longtime homeowners in Sonora, California. Darlene Tucker and Tom Pinter's home in Sonora, California. Dogs play at Darlene Tucker and Tom Pinter's home in Sonora, California. Darlene Tucker and Tom Pinter

Persons: Darlene Tucker, Tom Pinter, Tucker, Pinter, Tom Pinter's, — that's, Porter, That's, Kevelighan Organizations: Allstate, CNBC, Insurance, homebuyers Experts, Insurance Information Institute Locations: Sonora , California, California

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow RealPage influences rent prices across the U.S.RealPage software is used to set rental prices on 4.5 million housing units in the U.S. A series of lawsuits allege that a group of landlords are sharing sensitive data with RealPage, which then artificially inflates rents. The complaints surface as housing supply in the U.S. lags demand. Some of the defendant landlords report high occupancy within their buildings, alongside strong jobs growth in their operating regions and slow home construction.

Locations: U.S ., U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy getting a job feels so difficult right nowThe job market looks solid on paper. In 2023, U.S. employers added 2.7 million people to the payroll, according to the Bureau of Labor Statistics. But it's a different story for active job seekers. A staffing firm Insight Global found that recently unemployed full-time workers applied to an average of 30 jobs, only to receive an average of four callbacks or responses. So why does it feel so hard to get a job right now and is the U.S. labor market as strong as it seems?

Organizations: Bureau of Labor Statistics, Insight Global Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow cargo thieves are infiltrating U.S. supply chainsCargo thieves are stealing millions of dollars worth of goods every year. Strategic cargo theft is surging, where criminals engage in identity theft and internet-based fraud. CNBC visited supply chain risk management company Overhaul's Louisville, Kentucky, operations to get an inside look at how the industry is fighting back. Watch the video above to learn more.

Organizations: CNBC Locations: U.S, Louisville , Kentucky

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the U.S. will remain the world's leading economy for longer than expectedEconomists believe the U.S. could lose its ranking as the world's leading economy in the 21st century, as measured by gross domestic product. But the U.S. is set to extend its run through the 2020s, on the back of slower-than-expected growth trends in China. Investors are now placing fresh bets on emerging markets as the working-age population booms in the Indo-Pacific.

Organizations: Investors Locations: U.S, China

☆ How to set an annual budget
▼ + stars: | 2023-12-30 | by ( Juhohn Lee | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to set an annual budgetIn 2023, 40% of Americans said they don't make New Year's money resolutions and 68% said they have no written financial plan at any point in the year. But having a budget and an awareness of exactly how much is coming in and going out is a key part of managing personal finances. CNBC asked financial experts how to set an annual budget for the New Year.

Organizations: CNBC

☆ U.S. tap water has a $47 billion forever chemicals problem
▼ + stars: | 2023-11-30 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +3 min

The U.S. Environmental Protection Agency is adding some "forever chemicals" to the list of toxins that must be reported by drinking water utilities. That's why they got the nickname 'forever chemicals,'" explained Tom Neltner, senior director of safer chemicals at the Environmental Defense Fund. About 300 million people in the U.S. receive their water from a public water system, according to the EPA. At least 45% of tap water in the U.S. is known to have PFAS in it, according to the U.S. Geological Survey. Watch the video above to learn more about how safe tap water is in the U.S.

Persons: Radhika Fox, they're, Tom Neltner, Cheryl Norton, Fox, Neltner, Sydney Evans, Evans, Norton Organizations: Environmental Protection Agency, EPA's, Water, CNBC, Environmental Defense Fund, Utah Department of Environmental, . Geological Survey, Environmental Locations: U.S

☆ How safe is tap water in the U.S.?
▼ + stars: | 2023-11-30 | by ( Lindsey Jacobson | Jason Reginato | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow safe is tap water in the U.S.? The U.S. ranks only 23rd in the world for safe drinking water, which is near the bottom of comparable nations. There are issues with both what is in tap water and how it is transported. Toxins like PFAS, arsenic and lead pollute some drinking water. Watch the video to find out how safe tap water is in the U.S., how to protect yourself and how investments can clean up U.S. water.

Organizations: U.S, EPA Locations: U.S

☆ How the American Red Cross makes and spends its billions
▼ + stars: | 2023-11-26 | by ( Juhohn Lee | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the American Red Cross makes and spends its billionsThe American Red Cross has long been recognized as the universal symbol of humanitarian services — and it's an expensive operation. In 2022, the American Red Cross had net assets of about $2.7 billion and spent just more than $3 billion in operating expenses the same year. But the sheer size of its budget has also raised concerns over the years. So how does the American Red Cross make and spend its billions?

Organizations: American, Cross

☆ How taxpayers grow the private sector: Mariana Mazzucato
▼ + stars: | 2023-11-16 | by ( Mark Licea | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow taxpayers grow the private sector: Mariana MazzucatoA "citizens' share" would give wealth invested by taxpayers back to the public, says University College London Professor Mariana Mazzucato. In this episode of "The Bottom Line," Mazzucato discusses why risk and failure should be normalized and how AI can be calibrated for positive change.

Persons: Mariana Mazzucato, University College London Professor Mariana Mazzucato, Mazzucato Organizations: University College London Professor

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the U.S. lost thousands of high-skilled workers to CanadaIn July, Canada opened applications for a pilot program that would allow up to 10,000 H-1B visa holders in the U.S. to apply for a three-year open-work permit in Canada. Since then, more than 6,000 high-skilled U.S. foreign workers have arrived in Canada. CNBC spoke with several foreign tech workers and immigration consultants to uncover the story of how the U.S.'s bureaucratic visa process pushed thousands of high-skilled workers north.

Organizations: CNBC Locations: U.S, Canada

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