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Every paycheck I get goes to Navient," Pucci, 59, told BI. I feel trapped, and this has been so traumatic, especially the last couple of months, it's been really, really difficult." The lender, instead, can decide how it wants to craft a relief process, if at all. AdvertisementBut Linssen's efforts paid off — she got $70,000 in private loans discharged in May. While Nave also eventually got her private loans relieved after filing complaints with the CFPB, she doesn't understand why it has to be this way.
Persons: , Leandro Pucci, Joe Biden's, hasn't, Pucci, it's, " Pucci, Sen, Elizabeth Warren, Holder, Warren, Navient, he's, Julia Barnard, Barnard, Theresa, Christman, Theresa Christman Theresa Christman, Eileen Connor, PPSL, haven't, Connor, I've, Victoria Linssen, Jennifer Nave, Linssen, aren't, Brooks, Victoria, Victoria Linssen Victoria Linssen, Nave, they're, — Navient, Nick Eucker, Eucker Organizations: Service, Art Institute, Business, Joe Biden's Education Department, Navient, Education Department, Consumer Financial, Bureau, Education, BI, International Academy of Design, Technology, Brooks Institute, DeVry University, Victoria Linssen Victoria Locations: Venezuela, California, Navient, Cardona
Mike Segar | ReutersBEIJING — Chinese authorities this week announced new policy for supporting venture capital, raising hopes for faster approvals of initial public offerings in the near future. The new policy included a section on expanding exit channels for venture capital, with an emphasis on supporting companies with technological breakthroughs. Investors, especially those who put U.S. dollars into China-based venture capital funds, have preferred IPOs in the U.S. as the largest and most liquid market. Separately, the U.S. has increased its scrutiny of U.S. capital going into China, especially military-related entities. The China Securities Regulatory Commission has increased fines for misleading investors and clarified requirements for overseas IPOs.
Persons: Mike Segar, Marcia Ellis, Morrison Foerster, Ellis, Winston Ma, Ming Liao, Didi, Morrison Foerster's Ellis, Fang Xinghai, Fang Organizations: New York Stock Exchange, Reuters, State Council, U.S, Venture, NYU School of Law, Investors, Prospect, CNBC, China Securities Regulatory Commission Locations: Manhattan, New York City , New York, U.S, Reuters BEIJING, China, Prospect Avenue, Hong Kong, London
In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTThe Apple Siri AI icon is being displayed on a smartphone, with Apple Intelligence in the background. Apple Intelligence is the Cupertino giant's play that aims to bring AI across its devices. Apple's China AI challengesNavigating these rules will be tricky for Apple. "Localising the Apple Intelligence experience will be a major challenge for Apple," Wood told CNBC. CCS Insights' Wood said Apple's focus on privacy could help introduce AI features to the market.
Persons: Siri, Jonathan Raa, Apple, Bryan Ma, Nicole Peng, Ben Wood, Wood, Neil Shah Organizations: Apple Intelligence, Nurphoto, Getty, Huawei, CNBC, Apple, IDC, Baidu, Insight, Counterpoint Research Locations: China, Beijing, Cupertino
Adobe is having a terrible month
  + stars: | 2024-06-18 | by ( Shubhangi Goel | ) www.businessinsider.com   time to read: +4 min
On Monday, the Department of Justice sued, saying Adobe violated consumer protection laws by hiding expensive fees and making it difficult to cancel subscriptions. Regulators said in the complaint that Adobe entices people to "enroll in its default, most lucrative subscription plan without clearly disclosing important plan terms." Earlier this month, the tech giant asked users to sign new terms with language that some thought implied that their content could be reproduced, displayed, or modified by Adobe — a big concern since Adobe is pushing hard into generative AI. AdvertisementThe news even frustrated Adobe employees, who complained internally about the company's poor communication, Business Insider reported last week. "Pretending that this wasn't intentional only makes Adobe and its employees look even more pathetic," said Sasha Yanshin on X. Yanshin said that he canceled his Adobe subscription after many years as a customer.
Persons: , Maninder, David Wadhwani, Dana Rao, Adobe's, Sasha Yanshin, Yanshin Organizations: Service, Department of Justice, Federal Trade Commission, Business, Regulators, Adobe, DOJ, Prosecutors
AdvertisementHomosexuality isn't illegal in Egypt, but the country is famous for its discrimination against the LGBTQ+ community. "Not all states have equal protection laws, especially for transgender and gender-diverse individuals," John Tanzella, president and CEO of the International LGBTQ+ Travel Association, told Business Insider. Airbnb hosts can indicate they're LGBTQ-friendly in their listings, and there are companies and entire cruise lines dedicated to gay travel. Perhaps the most comprehensive is the IGLTA, which has been helping members of the community travel safely since 1983. "The future of LGBTQ+ travel is bright," Tanzella said, though he cautioned significant hurdles still remain.
Persons: Trent, peck, we'd, we've, I'd, Equaldex, John Tanzella, Ron DeSantis, you've, Dan Leveille, it's, Leveille, Tanzella, , I've, It's, there's, I'm Organizations: Business, Ferrari, United Arab, International, Travel, Equity, Gov, Technology Locations: Jamaica, Trent, Spain, Morocco, United Arab Emirates, Egypt, United States, Florida, Berlin, Puerto Vallarta
Read previewThere's a process for some private student-loan borrowers to get debt relief — but many of them might not know about it. In April, Business Insider first reported that Sen. Elizabeth Warren, along with eight of her Democratic colleagues, were calling on Navient — a major private student-loan company — to cancel "decades-old predatory private student loans" under consumer protection law. While some borrowers have started to receive the application from Navient, Warren and her colleagues still urged the company to automate the process and give private borrowers the same relief federal borrowers may have already received. Still, Warren wrote on X that the process should not be "wildly confusing" — and all private borrowers who qualify for debt relief if they were defrauded should have no problem getting it. Have you received an application for private student-debt relief from Navient, or are you still struggling to get relief?
Persons: , Sen, Elizabeth Warren, Holder, Navient, Eileen Connor, We're, Warren Organizations: Service, Business, Democratic, Navient's, Consumer Financial, The New York Times Locations: Navient
The Consumer Financial Protection Bureau on Monday finalized a plan to create a public registry of nonbank businesses that have been penalized for violating consumer protection laws, a roster some have called a “rap sheet” for companies. The goal, the consumer bureau said, is to make it easier for consumers, watchdogs and government prosecutors to identify patterns and recurrences. “Too many American families and businesses have been harmed by repeat offenders in a rinse-and-repeat cycle of illegal activity,” Rohit Chopra, the bureau’s director, said at a news conference. “When companies believe that violating the law is more profitable than following it, this totally undermines public trust and harms businesses who are playing by the rules.”The bureau estimates that at least 1,500 and as many as 7,750 companies will be subject to inclusion in the registry. The database will compile orders from state, federal and local governments and courts against companies that have faced sanctions for lawbreaking.
Persons: Rohit Chopra Organizations: Consumer Financial
They said my building was covered under the new Good Cause Eviction law, and my rent increase would instead be 8%. AdvertisementWhat is Good Cause Eviction? Good Cause also has what's called the reasonable rent increase measure: Buildings covered under Good Cause have limits on how much landlords can raise rent. I was under the impression that this building falls under the good cause eviction umbrella. Will Good Cause Eviction change or impact your life?
Persons: Weaver, , Ellen Davidson, Davidson, Allia Mohamed, it's, Mohamed, that's Organizations: Service, Business, New, New York, Housing Justice, , Legal Aid Society Locations: New York City, Central Park, New, New York, Bronx, Brooklyn
Read previewApple recently reached a $35 million settlement with iPhone 7 and iPhone 7 Plus users who said their phones had audio problems. It argues the iPhone 7 and iPhone 7 Plus had audio issues related to the "audio IC chip." Apple iPhone 7. AdvertisementHow much money could iPhone customers receive? If customers don't select a payment method and provide payment information, they'll remain in the settlement class but cannot receive payment.
Persons: , Apple, Spencer Platt, Andrea Gold, Greg Coleman, Coleman Organizations: Service, Business, Apple, Getty, United States Locations: United
This is the eighth lawsuit against Combs since November – the seventh directly accusing him of sexual assault. Another lawsuit accused his son Christian Combs of sexual assault, and Sean Combs is accused of aiding and abetting. Lampros claims that Combs raped her after she “pleaded with Mr. Combs to stop.” “She was nude, sore, and confused” the next morning, according to the lawsuit. According to Lampros, she was also not allowed to talk about her relationship with Combs to anyone, the lawsuit claims. Mr. Combs would also threaten to blacklist her in the industry if she tried to mess with him in any way,” the suit said.
Persons: Sean “ Diddy ” Combs, Lampros, Combs, , ” Lampros, Cassie Ventura, Christian Combs, Sean Combs, , “ Ms, Lampros “, she’s, Lampros ’, Tyrone Blackburn, Rodney Jones, Grace O’Marcaigh, Crystal McKinney, drugging, Aaron Dyer, “ Mr Organizations: CNN, New York’s Fashion Institute of Technology, Bad Boy Records, Arista Records, Sony Music Entertainment, Diddy’s, Records, Lampros, Department of Homeland Security Locations: New York, New York City, Manhattan
CNN —Sean “Diddy” Combs has been accused of sexual assault in a new lawsuit filed on Tuesday by Crystal McKinney, a former model and winner of MTV’s 1998 Model Mission competition show. McKinney “felt confused but hopeful that Combs would fulfill his promises to help her career,” and Combs invited her to his recording studio later that night, the complaint continues. In the bathroom, Combs “began kissing her without her consent” and later “forced her to perform oral sex on him,” according to the complaint. “As her consciousness returned, Plaintiff realized that she had been sexually assaulted by Combs,” the complaint reads. One of the six suits names Combs as a defendant but was was brought against Combs’ son, Christian Combs.
Persons: Sean “ Diddy ” Combs, Crystal McKinney, McKinney, , Combs, McKinney “, , Combs “, Sean John Clothing, ” McKinney, Tommy Hilfiger, Cassie Ventura, Ventura, ” Combs, Meredith Firetog, Cassie, Combs ’, Christian Combs, Ventura’s Organizations: CNN, Plaintiff, Combs, Bad Boy Records, Sean John Clothing LLC, Universal Music Group Inc, New, New York City Council, IMG, MTV, Authorities, Department of Homeland Security Locations: New York, New York City
But the ruling falls far short of eliminating the bureau’s legal obstacles. Immediately after the ruling was announced, lawyers for the bureau, which is charged with preventing consumer abuse in the financial industry, began preparing dozens of legal filings to try to unfreeze its activities. Among them are requests to federal judges to end stays on new rules and on subpoenas to financial firms. While the Supreme Court’s ruling should resolve a few of the stays, the bureau will still struggle to overcome other roadblocks. He noted that Justice Samuel A. Alito Jr.’s dissent cited three recent consumer bureau actions that, in Justice Alito’s view, would be “major changes” in consumer protection law.
Persons: , Graham Steele, Samuel A, Alito Jr, , Alito’s Organizations: Consumer, Treasury Department
regulators could ultimately fine Meta up to 6 percent of its global revenue, which was $135 billion last year, as well force other product changes. The investigations are part of a growing effort by governments around the world to rein in services like Instagram and TikTok to protect minors. Meta has for years faced criticism that its products and recommendation algorithms are fine-tuned to hook children. In October, three dozen states in the United States sued Meta for using “psychologically manipulative product features” to lure children, in violation of consumer protection laws. People younger than 13 are not supposed to able to sign up for an account, but E.U.
Persons: Meta Organizations: Facebook, European Commission, United, Meta, Digital Services Locations: United States
Read previewRogelio Villarreal Jasso got extremely lucky when he found heavily discounted Cartier earrings online. On December 1, 2023, the Mexico native noticed an Instagram advertisement for gold-and-diamond Cartier earrings priced at 232 pesos, or about $13, he told Business Insider. AdvertisementThe Cartier earrings purchased by Rogelio Villarreal Jasso. After being contacted by the agency, Cartier seemingly took matters into its own hands and settled the issue by sending Jasso his order. "It is more important to be honorable than to have Cartier earrings," she wrote.
Persons: , Rogelio Villarreal Jasso, Cartier, Jasso, Champagne, Lilly Téllez Organizations: Service, Business, Federal, The New York Times, The Times, Times Locations: Mexico, Cartier's Mexico
CNN —Iraq has passed a new law that penalizes same-sex relations with up to 15 years in prison, a move condemned by rights advocates as the latest attack on the country’s LGBTQ community. Samar called on the US and other countries to put diplomatic pressure on the Iraqi government to revoke the law. He warned that international business coalitions have already signaled that such discriminatory practices could negatively impact Iraq’s economic growth. “Respect for human rights and political and economic inclusion is essential for Iraq’s security, stability, and prosperity. This legislation is inconsistent with these values and undermines the government’s political and economic reform efforts,” Miller said on Saturday.
Persons: ” –, Raad al, Mohsen Al, ” Al, Mandalawi, , I’ve, ” Samar, Samar, Mohammed Shia, Joe Biden, , ” Matthew Miller, ” Miller, Sarah Sanbar, ” “, Organizations: CNN, Iraq, Maliki, Iraqi, US Department of State Locations: Iraq, Iraq Samar, Samar, Al
Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom : Broadcom's AI business, which includes co-designing custom chips for tech giants such as Club holding Alphabet, is booming. The newspaper reported April 12 that Salesforce was in talks to buy Informatica, which sent the Club holding's shares plunging. Wells Fargo : Another trim is due for our Wells Fargo position after a great run for the bank stock, Jim argued. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer's, Jim, Johnson, Abbott, Andy Jassy, Bausch, Salesforce, Salesforce didn't, Tom Jorden, We've, It's, Walt Disney, Nelson Peltz's, Bob Iger's, Estee Lauder, there's, Eaton, We're, he's, Locker, he'd, Vimal Kapur, Linde, Eli Lilly, Eli Lilly's, TikTok, Joe Biden, Morgan Stanley, Morgan Stanley's, Ted Pick, Jensen Huang, Nikesh Arora, haven't, Laxman Narasimhan, Sands, Stanley Black, Decker, TJ Maxx, TJX, Wells, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Johnson, Web Services, Broadcom, VMWare, GE Healthcare, GE, Bausch Health, Costco Wholesale, Costco, Street, Informatica, Coterra, DuPont De Nemours, DuPont, Walt, Disney, Ford, GM, Philips, Siemens, Google, Honeywell, Linde, Facebook, Meta, Microsoft, Nvidia, Investors, AMD, Oregon State University, Palo Alto Networks, UnitedHealth, Procter & Gamble, Constellation Brands, Constellation, Modelo, TJX, Marshalls, Home Goods, Wynn Resorts, Jim Cramer's Charitable, New York Stock Exchange, Afp, Getty Locations: China, Informatica, Ford, Estee, U.S, mater, Palo, Corona, Wells Fargo, Wells, Macao, New York City
Read previewA class action claim filed against LGBTQ+ dating and hookup app Grindr alleges that "potentially thousands" of UK app users had their private information, including HIV statuses, shared with third parties. The claim, lodged on Monday by UK-based law firm Austen Hays, accuses Grindr of breaching UK data-protection laws by sharing sensitive information with third parties without users' consent. Austen Hays alleges that the data breaches occurred before April 2018 and between May 2018 and April 2020, "although they may extend to further periods," it said. With more of us finding love and connections online, the risk of extremely personal data being shared and potentially monetized is growing. In an email statement sent to Business Insider, a Grindr spokesperson said: "We are committed to protecting our users' data and complying with all applicable data privacy regulations, including in the UK."
Persons: , Austen Hays, Grindr, Chaya Hanoomanjee Organizations: Service, Business, Norwegian Data Protection Authority, Data
A major private student-loan company is leaving the servicing industry. But before that happens, a group of Democratic lawmakers want it to give some borrowers debt relief. On Wednesday, Sen. Elizabeth Warren led eight of her Democratic colleagues in sending a letter — first reviewed by Business Insider — to Navient's CEO David Yowan, requesting that the company cancel "decades-old predatory private student loans" using a consumer protection law established by the Federal Trade Commission. AdvertisementBut there might be an avenue to still get those borrowers debt cancellation. "Navient should stop making borrowers apply for relief and instead automatically cancel student debt using information the company already has about whether borrowers attended schools that would entitle them to relief," they wrote.
Persons: Sen, Elizabeth Warren, David Yowan, Navient, Warren, Holder Organizations: Service, Democratic, Business, Federal Trade Commission, Family Education, Education Department, Minnesota Attorney Locations: Minnesota, MOHELA, Navient
Read previewA veteran Boeing engineer told a panel of lawmakers that he received verbal and physical threats for voicing safety concerns to the company. In a Senate hearing on Wednesday, Sam Salehpour, a veteran Boeing employee turned whistleblower, said the company repeatedly ignored his reports of safety lapses during the production of at least 1,400 widebody airplanes. Salehpour said a Boeing quality manager told him not to document concerns or notify experts of the gaps he said exist on the fuselage of hundreds of Boeing 787 Dreamliners. Salehpour — who said he still has his job thanks to whistleblower-protection laws — told lawmakers that has has also received threats against his physical safety. He told lawmakers that although he has "no proof" of where or who the nail came from, he believes it happened at work.
Persons: , Sam Salehpour, Salehpour, Salehpour —, Sen, Richard Blumenthal, Drew Angerer, Taylor Rains Organizations: Service, Boeing, Business, Getty, BI, Alaska Airlines, FAA Locations: AFP, Boeing's Washington
Dachshunds, the German dog breed known for their distinctive long bodies and short legs, face an uncertain future if proposed changes to an animal protection law are approved, Germany’s kennel club said. A draft of the bill, from the German Ministry of Food and Agriculture, was published in February and aims to combat “torture breeding,” or breeding to produce animals with characteristics that will cause them to suffer, and to regulate the online trade of animals. However, the draft contains requirements that could end the breeding of certain dogs, such as the dachshund, according to a statement from the V.D.H., Germany’s kennel club. The bill lists various disease characteristics, like anomalies of the skeletal system, that would be outlawed. That could be interpreted as a ban on breeding animals with any significant size deviation from the “original wolf type,” the V.D.H.
Organizations: German Ministry of Food
Waldi, the official mascot of the 1972 Olympics, was modeled on a dachshund called Fritz (the real dog in the middle). Courtesy Kerstin Schwartz“The sausage dog is part of Germany’s cultural heritage,” Marion Michelet, chairwoman from the Deutscher Teckelklub Berlin-Brandenburg kennel club and owner of a dachshund called Pepper, told CNN Wednesday. Michelet told CNN that the “abnormalities of the skeletal system” could be seen as a ban on breeding for “any significant size deviation from wolves,” which are the ancestor of all modern-day dogs. Germany’s agriculture ministry denied that the new draft bill would amount to a ban on particular breeds, including the sausage dog. “For 136 years we have not changed our standard breeding practices.”“If the breeding ban happens it would have a significant impact” on dog breeders like her, she said, adding: “I hope it won’t come to that.”
Persons: CNN —, Snoopy, Fritz, Napoleon Bonaparte, Germany’s, Kaiser Wilhelm II, “ Erdmann, , Pablo Picasso, Le Chien, Germany's, Kerstin Schwartz, ” Marion Michelet, Pepper, Michelet Organizations: CNN, German Kennel, Bettmann, Olympic, Deutscher Teckelklub Locations: Germany, Brandenburg, Berlin
Washington CNN —The Federal Trade Commission is looking into Reddit’s plans to license its platform content to artificial intelligence companies, the social media company disclosed Friday in a securities filing. The FTC sent Reddit a letter on Thursday outlining the scope of the inquiry, Reddit said in the filing. “The FTC’s staff is conducting a non-public inquiry focused on our sale, licensing, or sharing of user-generated content with third parties to train AI models,” Reddit disclosed. The company has entered into an agreement to share its platform data with Google in order to train the tech giant’s AI models. Reddit said earlier this week that it expects to price shares between $31 and $34 each when it makes its IPO offering.
Persons: Reddit, ” Reddit, Organizations: Washington CNN, Federal Trade Commission, FTC, Google
A Montana rancher was charged with illegally selling offspring from a cloned sheep across state lines. There's nothing illegal about selling sheep for exorbitant prices — unless those animals are Marco Polo argali sheep, or in Schubarth's case, hybrids of Marco Polo argali sheep. Marco Polo argali sheep are native to central Asia and are considered threatened under the US Endangered Species Act. Shortly thereafter, Schubarth allegedly got his hands on some of those sheep parts and, in 2015, paid a deposit of $4,200 to produce cloned sheep embryos from the dead argali's remains. AdvertisementIn May 2017, a pure argali sheep was born from one of those cloned embryos.
Persons: , Arthur, Jack, Schubarth, Marco Polo, George Schaller, Joyce Tischler, Lacey, King, Matthew Polak, Dolly, it's, Alison Van Eenennaam, Davis, Van Eenennaam, Gregory Kaebnick, isn't, Rula Rouhana, Reuters It's, Kaebnick, didn't Organizations: Service, Department, Lewis & Clark Law School's Center for Animal Law, European Union, Getty, University of California, and Wildlife Service, The Hastings Center, Reproductive Biotechnology, Reuters Locations: Montana, Asia, Kyrgyzstan, Dubai
According to a federal complaint filed this week seeking class-action status, it was because his 2021 Cadillac XT6 had been spying on him. When Mr. Chicco requested his LexisNexis file, it contained details about 258 trips he had taken in his Cadillac over the past six months. The data had been provided by General Motors — the manufacturer of his Cadillac. In a complaint against General Motors and LexisNexis Risk Solutions filed in the U.S. District Court for the Southern District of Florida, Mr. Chicco accused the companies of violation of privacy and consumer protection laws. LexisNexis Risk Solutions, and another data broker called Verisk, claim to have real-world driving behavior from millions of cars.
Persons: Romeo Chicco, XT6, Chicco, General Motors Organizations: Liberty Mutual, LexisNexis, General, General Motors, Southern, Southern District of, The New York Times, Solutions Locations: U.S, Southern District, Southern District of Florida
Under the disclosure, public companies will have to release their greenhouse gas emissions, environmental risk impacts, and risk management strategies. Climate disclosure will create a standardized way for companies to report environmental impactPreviously, companies only disclosed their climate impact information on a voluntary basis. Bryan McGannon, managing director of the nonprofit sustainable investment forum US SIF, said the climate disclosure is "a really good first step" toward increasing transparency. The SEC might also be facing litigation from corporate America, which hopes to challenge the new climate disclosure in court, McGannon said. Some companies might be concerned about the potentially high costs of gathering data and complying with the disclosure, SEC officials said.
Persons: Gary Gensler, Steven Rothstein, Rothstein, Bryan McGannon, McGannon, Gavin Newsom Organizations: Service, US Securities and Exchange Commission, Business, Economic, SEC, BI, Ceres Accelerator, Sustainable Capital, US, CNBC, Clean Energy, Jobs Locations: America, California, Michigan
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