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Spokespeople for the Justice Department and PRAC declined to comment. Due to the unusual circumstances, the government promised lenders as the program launched in April that they would not be held responsible if borrowers flouted program rules. To date, the Justice Department, working with other agencies, has charged over 80 individuals for stealing more than $250 million. Congressional investigators last month singled out some large PPP lenders for prioritizing their existing customers, disadvantaging women and minority-owned businesses. [L4N2H73KE]Depending on the circumstances, policies that hurt such “protected” groups - even if inadvertently - can violate fair lending rules.
Persons: Andrew Kelly, , Spokespeople Organizations: of Justice, United States Department of Justice, Washington , D.C, REUTERS, Justice Department, SBA’s, FAIR, National Community Reinvestment Coalition, Federal Deposit Insurance Corporation, New York Department of Financial Services, Consumer Financial Protection Bureau, Reuters, Georgia’s United Community Bank Inc, US Bank, SBA, Department of Treasury Locations: BOSTON, Washington ,, Washington
Kent Insley is the chief investment officer of Tiedemann Advisors, a $20 billion family office for high-net-worth individuals, families, trusts, foundations, and endowments. In an interview with Business Insider, he explains the team's investment philosophy and shares three outperforming managers — including a hidden gem manager —on his buy list. As the head of a 17-person investment team, Insley is tasked with overseeing the firm's investment process related to asset allocation and implementation, which he anchors around three pillars. "Our clients all have a very long time horizon, so our investment philosophy is to use a long-term investment orientation that emphasizes risk management, valuation, and sustainability to achieve the clients' goals," he said. These are all areas of focus for us and then we do focus on the hedge fund industry as well."
Persons: Kent Insley, Insley, , Chuck Akre, Terry Smith, Rajiv Jain, that's, Jeff Gundlach's, you've Organizations: Tiedemann Advisors, Business, Washington D.C, Boston, MFS Investment Management, Partners, Akre Capital Management, London, Equity, Vontobel, Management, GQG Partners, Trust Locations: Washington, New York, Middleburg , Virginia, millennials
Index funds, also known as passively managed funds, are less costly. Index funds cost about five times less than active funds. Managers have to achieve greater returns to beat index funds in order to overcome their larger fees. Only 24% of all active funds beat the average of their rival index funds in the decade ended June 2020, according to Morningstar. Index funds beat the highest-cost active funds in all categories over that time period.
Persons: Thomas Barwick, Charlie Fitzgerald, Moisand Fitzgerald Tamayo, Morningstar, Ben Johnson Organizations: Morningstar, Investment Company Institute, Federal Reserve Bank of Boston, CFA, Investors Locations: Orlando , Florida, U.S
From Friendly's to J. Crew, Main Street bankruptcies continue
  + stars: | 2020-11-23 | by ( Emily Pandise | ) www.nbcnews.com + 0.00   time to read: +11 min
True Religion ApparelTrue Religion, a clothing brand known for its jeans, filed for Chapter 11 bankruptcy on April 13. CMX CinemasCMX Cinemas, a chain of movie theaters with dine-in options, filed for Chapter 11 bankruptcy on April 25. Rubie’s Costume CompanyRubie’s, which manufactures costumes, wigs, and other festive gear, filed for Chapter 11 bankruptcy on April 30. AscenaAscena Retail Group, which owns several women's and girls' clothing brands, filed for Chapter 11 bankruptcy on July 23. Friendly’s RestaurantsFriendly’s parent company, FIC Restaurants, filed for Chapter 11 bankruptcy on Nov. 1.
Persons: Deluca, FoodFirst, Rubie’s, ” Neiman Marcus, Neiman Marcus, Le Pain, Pain Quotidien, GNC, Chuck E, Peter Piper’s, Lucky Brand, Matthew A, Brooks, Brooks Brothers, Muji, Ann Taylor, Lane Bryant, Lou, Grey, Jim Hyatt, Taylor Lord, Taylor, Men’s Wearhouse, Dinesh Lathi, Stein, Stein Mart, Hunt Hawkins, Raymond Gindi, Sizzler, Ruby Tuesday, , Shawn Lederman, George Michel said, Ron Japinga Organizations: Dean, New, Pace Food Retail, Apex Parks Apex Parks, Bravo, Global Holdings, Cinemex Holdings, Star, Palais Royal, JCPenney, Home, Hertz, Hertz Corporation, PQ, Aurify Brands, CEC, CEC Entertainment, SPARC Group, Retail, Le Tote, . Bank, Stein, Town Sports International, Sports International, York Sports Club, Boston , Washington D.C, Guitar Locations: U.S, New York City, New Jersey , California, Florida, Goody's, Peebles, Gordman’s, Plano , Texas, Texas, York, French, Seattle, United States, California, York City, Jos, Boston , Washington, Philadelphia, USA, East Coast
Alissa Eckert, MS; Dan Higgins, MAM/CDC/Handout via REUTERSAstraZeneca COVID-19 vaccine shows up to 90% efficacyAn interim analysis of late-stage trials of AstraZeneca's COVID-19 vaccine finds it prevented 70% of COVID-19 cases with no confirmed serious adverse effects, the company announced on Monday. Staff with antibodies were also less likely to test positive for COVID-19 without symptoms, the researchers said. Among more than 800 COVID-19 patients over age 65 who showed up at emergency departments around the country, nearly 30% had delirium, they found. They may present without what we consider typical COVID-19 symptoms, such as fever, shortness of breath and cough." Compared to the other patients, those with COVID-19 were on average younger, more overweight, and had fewer preexisting conditions other than dementia, which was more prevalent in COVID-19 patients.
Persons: Alissa Eckert, Dan Higgins, AstraZeneca's, SVB Leerink, Danny Altmann, David Eyre, Maria van Kerkhove, Delirium, Dr, Maura Kennedy, Kennedy Organizations: Reuters, Centers for Disease Control, Prevention, MAM, AstraZeneca COVID, Pfizer, Moderna, Investment, AstraZeneca, Imperial College London, Oxford's Nuffield Department, Population Health, World Health Organization, U.S . Centers for Disease Control, Massachusetts General Hospital Locations: Wuhan, China, Atlanta , Georgia, U.S, Boston, COVID
Patrick Quinn, who helped popularize the viral Ice Bucket Challenge that has raised over $220 million for global research into amyotrophic lateral sclerosis, or ALS, died on Sunday, according to the ALS Association. The Ice Bucket Challenge proved hugely popular, with videos of high-profile participants from Bill Gates, to Lady Gaga and former President George W. Bush clocking millions of hits. Download the NBC News app for full coverage of the coronavirus outbreak"It dramatically accelerated the fight against ALS, leading to new research discoveries, expanded care for people living with ALS, and significant investment from the government in ALS research," the ALS Association wrote in a statement on its website on Sunday. It typically strikes between the ages of 40 and 70, and average life expectancy after symptoms begin is three years, the ALS Association says. "The Ice Bucket Challenge connected with a sweet left hook to the jaw of ALS and shook the disease up," Quinn told a crowd in Boston in 2019, five years after the social media campaign.
Persons: Patrick Quinn, Peter Frates, Anthony Senerchia, Quinn, Kate Warren, Lou Gehrig's Disease, Bill Gates, Lady Gaga, George W, Bush, Pat Organizations: ALS Association, Twitter, The Washington Post, New York Yankees, NBC, ALS, CDC Locations: Yonkers , New York, United States, Boston
Yo-Yo Ma and the Meaning of Life
  + stars: | 2020-11-23 | by ( David Marchese | ) www.nytimes.com + 0.00   time to read: +20 min
“People need each other for support beyond the immediate staples of life,” Ma says. “They need music.”Do you think music is fundamentally good? Think about language, think about agriculture, think about navigation, think about engineering. I’m using culture.” It doesn’t need to be defined as “I’m going to play for you this piece of music.” It’s not that. I’m going to figure out what I can do with the cello.” He says, “I’m going to learn everything about the instrument.” He writes the first suite, second, third suites.
Persons: Bráulio Amado, Ma, , Kathryn Stott, ” Ma, I’ve, You’re, don’t, you’ve, David, Newton, you’re, It’s, ” It’s, , who’s, Tell, I’m, Teddy, Oliver, It’ll, Ted Thai, we’ve, Bach, “ I’m, Clive Barda, Seiji Ozawa, ” — Anthony McGill, He’s, Manny Ax, Jeff Vespa Organizations: YouTube, Carnegie Hall, Getty, English, Orchestra, Boston Symphony Locations: London, United States, United States of America, Europe
At Motional, Laura Major leads a team of hundreds of engineers and technical program managers working to make self-driving cars a reality. In October, the company resumed service of its public robotaxi fleet, which operates on the Lyft network in Las Vegas. This month, Motional announced its plans to begin fully driverless testing on public roads in the coming months. Major then served as VP of engineering and CTO at Aria Insights, Inc, a US-based drone manufacturer. Laura MajorWhile balancing work and family life is never easy, it's much easier because I'm passionate about my work.
Persons: Laura Major, She's, , Here's, Robin Madell, Motional, Major, she'll, that's, I'm, I've, Coke, Karl Iagnemma Organizations: Hyundai Motor Group, Via, astronautics, MIT, Draper Laboratory, Inc, Business, Motional's Locations: Motional, Las Vegas, US, Massachusetts, Boston, Motional's, England, Iran, South Korea, Singapore, Asia
During the mortgage bubble in the early 2000s, when investors were feverishly trading faulty subprime bonds, a few savvy skeptics recognized the bonds were doomed, so they bet against them. He's doing it based on the risks to the housing market from climate change and the coronavirus pandemic. That's what he was doing back in 2005, analyzing vast pools of subprime mortgage bonds that Wall Street was creating and trading. "He could tell you, for example, what would happen to mortgage loans zip code by zip code in various house price scenarios." Floods, fires and windBurt now says he can do the same thing when it comes to climate risk.
Persons: Dave Burt, Burt, Michael Lewis, Lewis, Fannie Mae, Freddie Mac, Jesse Keenan, Keenan Organizations: Tulane University, Biden Locations: Boston
Employees at the Museum of Fine Arts, Boston Vote to Unionize
  + stars: | 2020-11-23 | by ( Zachary Small | ) www.nytimes.com + 0.99   time to read: +1 min
An overwhelming majority of the employees eligible to unionize at the Museum of Fine Arts, Boston, have voted to join the United Auto Workers, becoming one of the latest bargaining units within a leading American cultural institution. “I find this redistribution of power meaningful,” Jon Feng, a members and visitors services representative at the museum, said. The Boston museum enacted a number of cost-saving measures over the summer after projecting a budget shortfall of about $14 million. Those moves included executive pay cuts and a staff reduction of about 100 employees — through layoffs or early retirement. The museum closed in March, then reopened in September with a work force that had decreased by 20 percent.
Persons: Jon Feng, Organizations: Museum of Fine Arts, Boston, United Auto Workers Locations: American, Boston
Sportsdigita, an all-in-one cloud-based presentation software company owned by former National Hockey League executive Angelina Lawton, sees opportunity amid the pandemic as sports teams conduct business online instead of in person. Sportsdigita is a subscription-based software company that's seen growth since Covid-19 halted in-person meetings. It competes with other services, like Microsoft PowerPoint and Microsoft Teams, both of which are included in an Office subscription. Lawton said the Sportsdigita's Digideck platform's professional services, which come with subscriptions, help it stand out against competitors. Lawton said the coronavirus pandemic sped up Sportsdigita's development cycle, too.
Persons: Angelina Lawton, Sportsdigita, Lawton Organizations: National Hockey League, Chicago Bears, Los Angeles Lakers, Boston Red Sox, Pittsburgh Steelers, New York Yankees, Covid, Microsoft
Radha Dhruv assistant general manager, using Toast software, February 23, 2018 in Denver, Colorado. Of late, business has been booming, The company responded to the recent upswing by giving stakeholders a chance to cash out some of their shares. The company last raised a primary round in February, just before the coronavirus hit the U.S., reeling in $400 million at a $4.9 billion valuation. DoorDash's revenue more than tripled in the third quarter, providing enough momentum to convince the delivery company to try and go public before the end of the year. Meanwhile, Uber's main ride-sharing business has been hammered this year, but its delivery business Uber Eats, which competes with DoorDash, saw revenue jump 190% in the latest quarter.
Persons: Radha Dhruv, Joe Amon, Toast, Chris Comparato, Comparato, Uber Organizations: Denver, Getty Images, CNBC, DoorDash Locations: Denver , Colorado, Boston
Bain Capital Raises $800 Million for Second Impact Investing Fund
  + stars: | 2020-11-22 | by ( Laura Kreutzer | ) www.wsj.com sentiment -0.86   time to read: +1 min
Bain Capital has raised $800 million in fresh capital to back businesses that the firm bets will benefit not only fund investors but also society at large. Bain Capital Double Impact, the Boston firm’s impact investment unit, has raised its second fund as investment vehicles focused on generating environmental, social and governance benefits have faced their share of marketing headwinds. Lockdowns and travel restrictions imposed as a result of the coronavirus pandemic have made fundraising more challenging as investors conducted due diligence remotely. At the same time, a new rule by the U.S. Labor Department made it somewhat trickier for certain investors to back impact funds. While temporary stay-at-home orders slowed the firm’s fundraising, Todd Cook, managing partner of Bain Capital Double Impact, said he believes investor interest in the strategy remains strong.
Persons: Todd Cook Organizations: Bain Capital, U.S . Labor Department, Global, Preqin Locations: Boston
Robotics company Boston Dynamics announced that its robot dog, Spot, is now for commercial sale Canada, the EU, and the UK, following earlier release in the US. Visit Business Insider's homepage for more storiesSpot, Boston Dynamics' famous four-legged robot, is officially available to purchase in Canada and Europe. In the UK, frequent Apple collaborator Foster and Partners are using Spot on their Battersea Power Station project. Previously, companies used Spot as part of the "Early Adopter Program," which meant they could lease the robot under certain conditions. If customers violated the agreement, Boston Dynamics could reclaim the robot and end the relationship.
Persons: Foster, Steve Jobs Organizations: Boston Dynamics, EU, Partners, Apple, Battersea Power, Steve Locations: Canada, Europe, London
President Trump's legal team is attempting to overturn the result of the election, which according to experts is essential a coup attempt. Silvercorp, the private security firm that backed the coup attempt, was inexplicably live-Tweeting the beginning of the attack. You don't have to study at West Point to know that a secret coup attempt requires an element of...secrecy. Trump's team meant to book the luxury Four Seasons hotel to formally launch their voter-fraud case into the public eye, and Trump even Tweeted as much. She scolded reporters for complaining that the conference contained little evidence, saying that they didn't "understand the legal process at all."
Persons: Trump's, Nicolás Maduro, Joe Biden's, Donald Trump, Rudy Giuliani —, Trump, Charles Fried, Giuliani, presser, Drew Angerer, Rudy, Jenna Ellis, Ellis, Vinny, Biden, Michael Dorf, Jacob Shamsian, Bill Maher, Obama Organizations: US Special Forces, Twitter, strikeforce, New York City, Harvard, Boston Globe, Trump, Politico, Cornell Law School, Navy Seals Locations: Venezuelan, West, New York, Venezuela, Philadelphia, Philly, Pennsylvania
The Centers for Disease Control advises Americans not to travel during the Thanksgiving period. As you rethink your holiday plans and brainstorm creative solutions, you might be wondering what steps you should take to celebrate safely. Married Yale experts are doing just the nuclear family"We're going to have a family Thanksgiving, but it's just going to be our nuclear family," Jeffrey Townsend, a biostatistician at the Yale School of Public Health, tells CNBC Make It. "Cases are just too unpredictable right now," Gandhi tells CNBC Make It. "We're eating separately," he tells CNBC Make It.
Persons: Dr, Anthony Fauci, it's, Jeffrey Townsend, Townsend, Alison Galvani, Rajesh Gandhi, Gandhi, William Schaffner, We're, Schaffner, Iahn Gonsenhauser, Gonsenhauser, grandmas Organizations: Disease Control, Yale, Yale School of Public Health, CNBC, Yale University, Infectious, Massachusetts General Hospital, Harvard Medical School, HIV Medicine Association, Vanderbilt University Medical Center, The Ohio State University Wexner Medical Center, Skype, Public Locations: U.S, Massachusetts, Boston, Nashville , Tennessee, Colorado, coronavirus
According to Bureau of Labor Statistics (BLS) projections, the top 30 jobs on our ranking are set to collectively add as many as 2.3 million jobs between 2019 and 2029. It found six of the 10 fastest-growing jobs were in healthcare, including nurse practitioners and home health aides. Not all healthcare jobs with bright futures ahead of them require a college degree. Amanda Voisard/The Washington Post/Getty ImagesThe path into education: The big pictureSimilar to healthcare, education jobs usually have certain certifications that you need before working in the industry. The following chart illustrates the slow recovery in the number of people employed in local education jobs over time.
Persons: Bianca Banuelos, Jannet Wharton, Banuelos, Karen Ducey, AnnElizabeth Konkel, Earl Dalton, Dalton, Konkel, Amanda Augustine of TopResume, Augustine, Lisa Eadicicco, Amanda Voisard, Elise Gould, Augustine of TopResume, David L, Ryan, mangers, Anthony Carnevale, Glassdoor Organizations: Ventura Training Institute, Sinai Medical Center, Labor, of Labor Statistics, Harborview, BLS, Bureau of Labor Statistics, Census Bureau, Health, Association of American Medical Colleges, JAMA, American Nurses Association, New York Times, Wall, Forbes, Business, General Assembly, Microsoft, Bladensburg, School, Washington Post, Peace Corps, Economic, Institute, EPI, US News, ABA, American Bar Association, Brigham, Women's Hospital, Boston Globe, Department of Labor, Georgetown University Center, Education, Workforce, of Labor's Locations: Southern California, Los Angeles, Seattle, Silicon, Bladensburg , Maryland, New Jersey, Jersey, California, Boston
Here is her story about Emily McCarthy, a recent Boston College graduate, and her job search amid the coronavirus pandemic. Emily McCarthy celebrated her college graduation at home with family and close friends after being sent home from Boston College in late March due to the coronavirus pandemic. That's why Emily McCarthy, a Boston College 2020 graduate, jumped in a lake. Prior to the pandemic, McCarthy had planned on conducting service work in Spanish-speaking countries to teach local underprivileged women English to assist with their immigration applications. In addition to networking, McCarthy sent her resume to a variety of companies in different industries, even though she hopes to do service work.
Persons: Nicole Dienst, Emily McCarthy, Cindy Perman, McCarthy, I'd, I'm Organizations: CNBC, Colgate University, Boston College, Boston College alumni Locations: Spanish, Invest, Milfoil, Green, New Jersey
Dow Jones Industrial Average futures were little changed in overnight trading on Sunday as a rising number of Covid-19 cases continued to weigh on markets. All three major averages finished Friday's session lower, while the Dow and S&P 500 also posted a loss for the week, falling 0.73% and 0.77%, respectively, for their first negative week in three. The Nasdaq Composite managed to eke out a 0.22% gain for the week, marking its second straight week of gains. The move lower came as Covid-19 cases continue to rise, with the U.S. reporting a record-high spike of more than 195,500 new cases on Friday. The seven-day average of new cases are up by at least 5% week over week in 43 states and the District of Columbia, Hopkins data shows.
Persons: Shannon Saccocia, Gavin Newsom, Bill de Blasio's, Regeneron's, Donald Trump, BioNTech Organizations: Dow Jones Industrial, Dow, Nasdaq, Boston, Public, CNBC, Johns Hopkins University, District of Columbia, Hopkins, Thursday California, New, JPMorgan, Treasury Department, Federal Reserve, Drug Administration, Pfizer, FDA, CNBC PRO Locations: New York City
FILE PHOTO: The General Electric Co. logo is seen on the company's corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019. REUTERS/Alwyn ScottWASHINGTON (Reuters) - General Electric Co. and a Vietnamese company on Saturday signed a memorandum of understanding to develop a liquified natural gas power plant, according to GE and a senior Trump administration official. GE said the Long Son LNG facility in Ba Ria-Vung Province would provide 3,600-4,500 megawatts of power to the country. Pacific Corp., Vietnam’s Power Engineering Consulting Joint Stock Company 2 and TTC Group, and Mitsubishi’s Corp.’s local subsidiary, also will participate in the project, GE said. O’Brien was scheduled to meet government officials and speak to students during his visit.
Persons: Alwyn Scott WASHINGTON, Robert O’Brien, Donald Trump’s, Vietnam’s EVNGenco3, O’Brien, Michael Nguyen Organizations: General, Co, REUTERS, General Electric Co, Saturday, GE, Trump, . Pacific Corp, Power Engineering, Company, TTC Group, Mitsubishi’s Corp Locations: Boston , Massachusetts, U.S, Vietnamese, Hanoi, Vietnam, Massachusetts, Ho Chi Minh City, Son, Ba Ria, Vung Province
Less than 24 hours later, the bureau issued a statewide Amber Alert citing "new information and growing concern" about his well-being. An Amber Alert was not issued for Quawan, because Baldwin police said his disappearance did not meet the criteria. Griffin said he has looked at more than 2,000 media reports of Amber Alert cases in the past 15 years. The problem isn't the Amber Alert, he said, but how people think about it. via Ronald Haley Jr."We think it’s some kind of silver bullet -- if you issue an Amber Alert, you get the kid back safe.
Persons: Jordan Gorman, Amber, Bobby, Charles, Quawan, Baldwin, wasn't, Nick Manale, Chase, Trichell, Timothy Griffin, It’s, Griffin, Ronald Haley Jr, they’re, Mary Parish, Quawan's, couldn't, Haley, Samuel Wise, Wise, Coletta Gorman, Josh DeVine, DeVine, Jordan, James Alan Fox, they're, Fox Organizations: Tennessee Bureau of Investigation, Tennessee Bureau, Tenn ., of, Louisiana State Police, Media Advisory, University of Nevada, Iberia Parish Coroner's, Baldwin Police Department, Iberia Parish Sheriff's, NBC, Sheriff's, Tennessee Bureau of, Authorities, County Rescue, Northeastern University Locations: Tennessee, Ashland City, Nashville, Tenn, Tenn . Tennessee, Baldwin , Louisiana, Jordan's, Baton Rouge, Reno, Iberia Parish, St, Mary, Baldwin, Boo, Loreauville, Cheatham, Kentucky, Boston
Now valued at $39 billion, the Massachusetts biotech is at the forefront of a revolution in vaccine research, driven by its promising technology. Read more: Biotech execs hunting for COVID-19 vaccines and treatments have raked in $1 billion by selling company stock this year. Typically, vaccine research happens in three phases, with each study being larger and more costly than the previous one. Ninety people who'd received a placebo shot got sick, compared with just five who got Moderna's vaccine. "So the Zika vaccine, the CMV vaccine, if this vaccine shows high efficacy, they are going to have high efficacy.
Persons: Moderna, Stéphane Bancel, Frenchman, Barney Graham, Graham, Bancel, Anthony Fauci, Al Drago, haven't, Fauci, John Mascola, Lisa Helfert, Andrew Harnik, Robert Langer, Barry Chin, Bob Langer, , Graham's, Jennifer Haller, Ted S, Warren, Read, who've, Kath Olmstead, Melissa Harting, Hans Pennink, Moderna's, who'd Organizations: COVID, Moderna, National Institutes of Health, Street, US National Institutes of Health, NIH, Pfizer, BioNTech, pharma, National Institute of Allergy, Diseases, Getty, Vaccine Research, Business, White, Boston Globe, MIT, Kaiser Permanente Washington Health Research Institute, Biotech, US, Zika Locations: Massachusetts, France, China, MERS, Bethesda , Maryland, Seattle, COVID
He explains wearing masks are critical for catching respiratory droplets that can linger in the air — especially at family gatherings. He recommends keeping well-fitted reusable masks clean and dry, discarding or washing it regularly, wearing it above your nose, and only removing it from the straps when you need to eat or drink. Here are answers to some key questions about how and when to wear masks, and how to manage their use during the holidays. The Centers for Disease Control and Prevention now estimates that when both people are wearing masks, the likelihood of infection is low. Face masks stop many of those droplets, reducing the amount of virus in the air.
Persons: Jason Farley, epidemiologist, Farley, it's, they're, Read, shamefully Organizations: Johns Hopkins University School of Nursing, Disease Control, CDC, New Hampshire, Creative Locations: Boston
Auto group sues to block Massachusetts vehicle data initiative
  + stars: | 2020-11-20 | by ( David Shepardson | Tina Bellon | ) www.reuters.com sentiment -0.99   time to read: +2 min
WASHINGTON/NEW YORK (Reuters) - A group representing General Motors Co, Toyota Motor Corp, Volkswagen AG and other major automakers filed suit on Friday to block a Massachusetts state ballot initiative that seeks to dramatically expand access to vehicle data. Earlier this month, voters in Massachusetts overwhelmingly approved an initiative to revise the state’s 2013 “Right to Repair” law to require automakers to provide expanded access to mechanical and electronic repair data and allow independent shops to repair increasingly sophisticated technology. The auto group asked a U.S. district court judge in Boston to block the law, which is set to take effect in the 2022 model year. They argue such data is complex and sensitive, and that using content to repair modern cars requires extensive training by those with proprietary technology. They are also concerned by automakers increasingly pushing for wireless repair data transfers, which will limit third-party access.
Persons: general’s Organizations: WASHINGTON, General Motors Co, Toyota Motor Corp, Volkswagen AG, Alliance, Automotive Innovation, Traffic Safety Administration Locations: Massachusetts, U.S, Boston
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