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Search resuls for: "Federal Register"


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☆ U.S. Treasury proposes climate data collection rule for insurers
  + stars: | 2022-10-18 | by ( ) www.reuters.com   time to read: +2 min
Destroyed buildings are seen after Hurricane Ian caused widespread destruction, in Fort Myers Beach, Florida, U.S., October 4, 2022. The Treasury's Federal Insurance Office said in a Federal Register notice that it was seeking public comment on the proposal, under which it would collect current and historical underwriting data on homeowners’ insurance. The zip-code level data would provide the insurance office with "consistent, granular, and comparable insurance data needed to help assess the potential for major disruptions of private insurance coverage in regions of the country that are particularly vulnerable to the impacts of climate change." Treasury said the proposed data collection rule would help the Federal Insurance Office to assess both the availability of insurance for millions of Americans as well as the affordability of such insurance. “Today’s action by the Federal Insurance Office is an important step in determining how Americans are being affected by the increasing costs of climate change,” Yellen said in a statement.
☆ Uber, Lyft and DoorDash tumble as Biden administration proposes gig-worker rule that eases path to full employee
  + stars: | 2022-10-11 | by ( Brian Evans | ) www.businessinsider.com   time to read: +2 min
DoorDash, Lyft and Uber all fell Tuesday after the Biden administration proposed a change to employee classifications. The companies say the contractor classification is more attractive to workers seeking a flexible schedule. Shares of Uber tumbled 7.6% to $25.43 in midday trading, while DoorDash fell 3% to $46.21, and Lyft plummeted 7.4% to $11.86. The Biden administration took steps last year toward changing the classification by rescinding a Trump-era rule that made it easier for gig employers to classify workers as contractors. Instead of waiting to see the full ramifications of the Trump Labor Department's rule, the Biden administration said in its notice to the Federal Register that it's moving to walk back the rule now.
☆ Uber, Doordash plunge after Labor Department proposes change to gig worker classification
  + stars: | 2022-10-11 | by ( Lauren Feiner | ) www.cnbc.com   time to read: +3 min
The Biden Labor Department released a proposal Tuesday that could pave the way for regulators and courts to reclassify gig workers as employees rather than independent contractors. The proposed rule, if adopted, could raise costs for companies like Lyft , Uber , Instacart and DoorDash that rely on contract workers to pick up shifts on their own schedules. Shares of Uber and Lyft fell more than 11% Tuesday morning, while DoorDash dropped about 9%. The new proposed rule will still need to make its way through the formal regulatory process, including allowing time for the public to submit comments, before it is adopted. It added that the rule "Does not reclassify Lyft drivers as employees," and also doesn't force it to change its business model.
☆ Biden wants to clamp down on airlines charging hidden fees, which can lead to families spending hundreds of dollars more than they planned
  + stars: | 2022-09-27 | by ( Stephen Jones | ) www.businessinsider.com   time to read: +2 min
President Biden aims has announced new proposals to help customers find the best airfares. Under new proposals, airlines would have to tell customers the total ticket cost upfront. The proposals, announced Monday, aim to stop airlines charging passengers hidden fees. Airlines often charge customers additional fees to check baggage, choose seats, or alter flights after they have selected a flight based on its ticket price alone. The fees can lead to people paying hundreds of dollars more than they'd planned.
☆ U.S. Treasury Seeks Comment on Crypto’s Illicit Finance Risks
  + stars: | 2022-09-19 | by ( Mengqi Sun | ) www.wsj.com   time to read: +3 min
The U.S. Treasury Department is seeking public comment on the possible illicit finance and national security risks posed by the use of digital assets, as part of the agency’s mandate under President Biden’s March executive order to study the development of cryptocurrency. The request for comment, issued Monday, also asks the public for suggestions to mitigate these risks by the deadline of Nov. 3. The Treasury, in a version of the request-for-comment document on the Federal Register website, said crypto has been used in sophisticated cybercrime-related financial networks and activity, including through ransomware. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. The request for comment comes as the crypto market sees another wave of volatility, adding to calls for greater regulatory oversight.
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