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Rep. Cori Bush, D-Mo., a key progressive and former Black Lives Matter organizer, is being investigated by the Justice Department for her campaign's spending on security services, she confirmed in a statement Tuesday. As a rank-and-file member of Congress I am not entitled to personal protection by the House, and instead have used campaign funds as permissible to retain security services," Bush continued in her statement. "I have not used any federal tax dollars for personal security services. Any reporting that I have used federal funds for personal security is simply false." Asked about Bush at a leadership news conference, House Democratic Caucus Chair Pete Aguilar, D-Calif., said Tuesday he had no comment and called it "something for the Justice Department."

Persons: Cori Bush, Bush, Louis, Lacy Clay, Cortney Merritts, Susan Cole, William McFarland, I, Cole, Pete Aguilar, Aguilar Organizations: U.S, Capitol, Justice Department, House, DOJ, PunchBowl News, Democratic, Louis Post, Dispatch, Conservative, Federal, Commission, U.S . Department of Justice, Republican, House Democratic Locations: Washington , U.S

LONDON (AP) — Italian regulators said they told OpenAI that its ChatGPT artificial intelligence chatbot has violated European Union’s stringent data privacy rules. The watchdog started investigating ChatGPT last year, when it temporarily banned within Italy the chatbot that can produce text, images and sound in response to users' questions. The growing popularity of generative AI systems like ChatGPT are also drawing increasing scrutiny from regulators on both sides of the Atlantic. Competition regulators in the 27-nation EU and Britain, meanwhile, are also examining Microsoft's OpenAI investments. AI systems also face broader oversight in the EU, which is f inalizing its groundbreaking AI Act, the world's first comprehensive rulebook for artificial intelligence.

Persons: OpenAI, chatbot, ChatGPT, “ Organizations: San, EU, Data, U.S . Federal Trade Commission, Google, Microsoft, Competition Locations: San Francisco, Italy, EU, Britain

☆ UK opens antitrust probe into Vodafone merger with CK Hutchison's Three mobile network
▼ + stars: | 2024-01-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

A pedestrian walks past a Vodafone store in central London on May 16, 2023. British mobile giant Vodafone is to axe 11,000 jobs over three years in the latest cull to hit the tech sector, as new boss Margherita Della Valle slammed recent performance. Britain's competition watchdog on Friday said it is opening an investigation into the proposed merger between Vodafone and the Three UK mobile network owned by CK Hutchison . The initial probe will look at whether the deal will lead to a "substantial lessening of competition," according to the U.K. Competition and Markets Authority (CMA). "The CMA will assess how this tie-up between rival networks could impact competition before deciding next steps."

Persons: Margherita Della Valle, CK Hutchison, Sarah Cardell Organizations: Vodafone, CK, U.K, Competition, Markets Authority, CMA Locations: London, British

Political Cartoons View All 253 ImagesMicrosoft’s years-long relationship with OpenAI is the best known of the partnerships. Google and Amazon have more recently made multibillion-dollar deals with Anthropic, another San Francisco-based AI startup formed by former leaders at OpenAI. The European Union and the United Kingdom have already signaled that they might also scrutinize the relationship with Microsoft and OpenAI. Antitrust advocates welcomed the actions from both the FTC and Europe into the deals that some have derided as quasi-mergers. The companies have 45 days to provide information to the FTC that includes their partnership agreements and the strategic rationale behind them.

Persons: OpenAI, ”, Lina Khan, Khan, Microsoft didn't, Matt Stoller, Satya Nadella, Kara Swisher, Sam Altman, Nadella, “, ” Nadella, Altman’s, It’s, They’re, Kelvin Chan Organizations: Google, Microsoft, U.S . Federal Trade Commission, FTC, Anthropic, OpenAI, European Union, Antitrust, Big Tech, American Economic Liberties, “, Intel, Bloomberg, Economic Locations: San Francisco, United Kingdom, Europe, OpenAI, Davos, Redmond , Washington, Iowa, Switzerland, London

Its 18-month investigation found that Petr “Gara” Garabik had engaged in repeated sexual harassment and unwanted sexual contact with Reid. “New women on the team were warned about him,” Reid told the AP. Garabik told the AP in an email that the case against him was "complete nonsense from the start." By that I mean other team members.”Last May, six months after SafeSport concluded its investigation, U.S. Biathlon retroactively changed the criteria for being pre-qualified for the World Cup team — and Reid was bumped off. During the SafeSport investigation Reid underwent hours of questioning, a process that retraumatized her, she said.

Persons: Joanne Reid, Deedra Irwin, Reid, ” Irwin, Petr “ Gara ” Garabik, Wax, ”, Larry Nassar, Garabik “, “, Beth, Heiden, Eric Heiden, ” Reid, Garabik, SafeSport, —, Jack Gierhart, ” Gierhart, “ We’re, pats, Bernd Eisenbichler, Irwin, Lowell Bailey, Bailey, ’, Ju’Riese Colón, there's Organizations: Biathlon, Army National Guard, U.S . Center, SafeSport, The Associated Press, U.S, AP, World, U.S . Locations: Czech, U.S, Slovenia, ’ ”, Garabik, Austria

He said shots suddenly hit the back of the truck, striking Abdel Jabbar. Hafeth Abdel Jabbar said that when he arrived, he found his son’s lifeless body in the pickup, amid shattered glass and blood stains. They jumped in the family truck and headed out, he said, but realized they'd forgotten charcoal. Later Tuesday, investigators took the truck, Abdel Jabbar said. Also Tuesday, Abdel Jabbar said, he accompanied Salameh to provide witness testimony to Israeli investigators.

Persons: Mohammed Salameh's, Tawfic Abdel Jabbar, “, ” Salameh, Abdel Jabbar, Salameh —, Abdel Jabbar's, Hafeth, Mazra’a, Sharquiya —, Salameh, Hafeth Abdel Jabbar, —, wasn't, ” Hafeth, Abdel Jabbar family's, Tawfic, Yesh Din, Rami, Mona, Joe Biden's, ” Mona Abdel Jabbar, ” Organizations: West Bank, Associated Press, Bank, Police, AP, U.S, West Locations: American, Louisiana, Al, Israel, Ramallah, Mona, Gretna , Louisiana, West Bank

Even by the standards of a news business whose fortunes have plummeted in the digital age, the last few weeks have been especially grim for American journalism. Prominent newspapers like The Washington Post are shedding reporters and editors, and on Tuesday, The Los Angeles Times laid off more than 20 percent of its newsroom. Esteemed titles like Sports Illustrated, already a shadow of their former selves, have been gutted overnight. An average of five local newspapers are closing every two weeks, according Northwestern University’s Medill School, with more half of all American counties now so-called news deserts with limited access to news about their hometowns. Of 1,100 public radio stations and affiliates, only about one in five is producing local journalism.

Persons: — Organizations: Los Angeles Times, Cable, Sports, Northwestern University’s Medill School Locations: Washington

☆ Some X users are convinced Elon Musk rigged the results of a MrBeast ad experiment where he earned $250,000
▼ + stars: | 2024-01-23 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

He tested how much ad revenue one video generated, and after three days, he said it earned $250,000. AdvertisementSome X users are convinced that Elon Musk rigged the results of MrBeast's ad revenue experiment to inflate his earnings to $250,000. "I'm curious how much ad revenue a video on X would make so I'm reuploading this to test it. Will share ad rev next week ❤️ pic.twitter.com/amSSmddFht — MrBeast (@MrBeast) January 15, 2024Donaldson, though pleased with the result, said it was "a bit of a facade." Musk seemed to respond to the claims he rigged the results in an X post on January 20.

Persons: MrBeast, Elon, —, Elon Musk, Jimmy Donaldson, X's, Donaldson, ❤️, Musk, Evan, Kat Lo, Jack Appleby, Rebecca Mardon, Mardon, Chris Kubbernus, Kubbco, TikTok, Kubbernus Organizations: Service, YouTube, Apple, Walmart, Twitter, Mashable, Cardiff University

☆ Mr. Beast posts video to X, receives thousands
▼ + stars: | 2024-01-23 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

“MY FIRST X VIDEO MADE OVER $250,000!” MrBeast, whose real name is Jimmy Donaldson, said in a post on the platform. He also shared what appeared to be a screenshot of X’s creator payment screen, showing the post had earned $263,655. But last week, MrBeast decided to test the X ad revenue sharing program by posting one of his old videos, about trying out various expensive cars, to the platform. Following his payment from X, MrBeast said in a post on the platform that he planned to give away the money he earned to “10 random people that repost this and follow me” on X. Progressive media watchdog Media Matters, for example, reported in November that an X user who had praised Adolf Hitler had posted about receiving around $3,000 in payouts from X’s ad revenue sharing program.

Persons: Influencer MrBeast, MrBeast, Jimmy Donaldson, Elon Musk, —, ”, Musk, Logan Paul, Charli, Dan Bongino, he’d, Adolf Hitler Organizations: New, New York CNN, Meta, YouTube, ’, X, Progressive, Media Locations: New York

(Both men already hold sizable amounts of Alibaba stock.) Alibaba itself bought back $9.5 billion worth of stock last year, reducing its share count by over 3 percent. The stock purchases will probably bring attention back to Ma, a former English teacher who helped start Alibaba as an e-commerce platform. Ma, who hasn’t held a management role at Alibaba or Ant in years but remains a lifetime partner in the Alibaba Partnership, now largely focuses on Bill Gates-style philanthropy. And she’s expected to take swipes at Trump’s economic record as president.

Persons: Tsai, Ma, Alibaba, Ant, hasn’t, Bill Gates, Nikki Haley, Donald Trump, Eric Rosengren, Robert Kaplan, Kaplan, Rosengren, Archer, Daniels, Vikram Luthar, Scott Stuber, Spike Lee, Martin Scorsese, Jane Campion, Stuber, Ted Sarandos, Netflix’s, Bela Bajaria, Biden’s, Janet Yellen, Lael Brainard, they’re, Biden, ” Ray Fair Organizations: Pool Management, Alibaba, Brooklyn Nets, New York Liberty, Nets, Boston Fed, Dallas Fed, Republican, Biden, Yale, Times Locations: U.S, Hong Kong, China, Ma, Beijing, ’, Paris, New Hampshire, Dixville

☆ P&G's beauty sales hurt by an unlikely headwind: A wastewater release in Japan
▼ + stars: | 2024-01-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

While Japan and the United Nations' nuclear watchdog said the move was safe, China retaliated by banning all seafood imported from Japan. Chinese consumers followed with boycotts on Japanese brands, including P&G's SK-II, fearing that their products would be tainted by radiation. While the brand took a hit in the previous quarter, P&G executives said SK-II is already seeing sales turn around. "Our consumer research indicates SK-II brand sentiment is improving, and we expect to see sequential improvement in the back half," CFO Andre Schulten said on the company's earnings conference call. CEO Jon Moeller also reminded investors that previous tensions between Japan and China have hurt SK-II's sales, but the brand always bounced back.

Persons: Gamble, Andre Schulten, Jon Moeller Organizations: Procter, SK, United Nations, G's SK Locations: Greater China, Japan, —, China

(AP) — A federal appeals court has ordered the appointment of an independent examiner in the bankruptcy case of FTX amid concerns about widespread fraud preceding the collapse of the multibillion-dollar cryptocurrency exchange. A three-judge panel in Philadelphia issued the ruling Friday in an appeal filed by the U.S. bankruptcy trustee, who serves as a government watchdog in Chapter 11 reorganizations. U.S. Bankruptcy Judge John Dorsey denied the trustee’s request last February. The appeals court reversed Dorsey’s ruling, agreeing with the trustee that the bankruptcy code mandates the appointment of an examiner. “Such is the case here.”Restrepo also noted that an examiner is required to make his or her findings public, whereas a debtor or creditors committee conducting an internal investigation has no such obligation.

Persons: John Dorsey, Dorsey, John Ray III, FTX, Sam Bankman, Fried, Prosecutors, ”, Luis Felipe Restrepo, ” Restrepo Organizations: —, U.S, FTX, Alameda Research Locations: Del, Philadelphia, FTX

☆ Watchdog report is critical of former Fed officials in stock trading controversy
▼ + stars: | 2024-01-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

A watchdog review into market trading from two former high-ranking Federal Reserve officials criticizes their actions but does not accuse either of doing anything illegal. Revelations showed that some Fed officials engaged in market trading at a time when they also were considering important and delicate policy matters in the early days of the Covid pandemic in 2020. The report concludes that their actions resulted in conflicts of interest that raised issues over impartiality and the proper conduct of central bank officials. On Kaplan, the report states that the OIG "did not find that his trading activities violated laws, rules, regulations, or policies related to trading activities as investigated by our office." Since the controversy, the Fed has revamped its trading rules and now prohibits officials from owning stocks, bonds and cryptocurrencies.

Persons: Robert Kaplan, Eric Rosengren, — Kaplan, Jerome Powell, Richard Clarida, Raphael Bostic, Clarida, Kaplan Organizations: Eccles Federal, Federal, Fed's, Dallas, Atlanta Fed, Fed, Kaplan, CNBC, Federal Reserve, Dallas Fed Locations: Washington , DC, Boston, U.S

And the DeSantis campaign made many of them, his advisers, allies and supporters have acknowledged to CNN in interviews. Republican presidential candidate and Florida Governor, Ron DeSantis, speaks during a campaign event in Hampton, New Hampshire, on January 17, 2024. Michael Reaves/Getty Images DeSantis and his wife, Casey, have three children: from left, daughters Mamie and Madison and son Mason. But that approach was rejected by the woman who would be announced as DeSantis’ campaign manager, Generra Peck. And yet, in the face of this overwhelming rejection of his pitch to Make America Florida, DeSantis refused to change gears.

Persons: Ron DeSantis steeled, Donald Trump, DeSantis, Trump, “, Nikki Haley, Trump hadn’t, ” DeSantis, Elon Musk, ”, Curt Anderson, Alex Castellanos, Ron DeSantis, Joseph Prezioso, It’s, Casey, God, Rupert Murdoch’s, Will Lanzoni, Jane, Zuma Press DeSantis, Dunedin High School DeSantis, US Navy DeSantis, John Boehner, Charles Dharapak, Bill Clark, Tom Williams, Trey Gowdy, Al Drago, Zack Wittman, Patrick Farrell, Andrew Gillum, Chris O'Meara, Jeff J Mitchell, Stephen M, Dowell, Chris Kleponis, Lynne Sladky, Steve Cannon, Fernando Medina, Deborah Birx, Doug Mills, Kimberly Guilfoyle, Saul Loeb, Madison, Tori Lynn Schneider, Vera Leip, Joe Raedle, Michael Reaves, Mamie, Mason, WFTS DeSantis, Joe Biden, Hurricane Ian, Charlie Crist, Marco Bello, Reuters DeSantis, Sophie Park, Jordan Gale, –, Stormy Daniels, Jeff Roe, Ken Cuccinelli, Roe, scrappy, Ken Griffin, bankroll DeSantis, Griffin, Dana Bash, Generra Peck, Musk, ” Donors, Peck, Christina Pushaw, Bryan Griffin, Hugh Hewitt, Scott Olson, Ryan Tyson, Zuckerbucks, Kim Reynolds, Reynolds, Iowa –, Anna Moneymaker Organizations: CNN, Trump, New, GOP, Former South Carolina Gov, Christian Broadcasting Network, Elon, Republican, “ JV, ”, Politico, Florida Governor, Getty, Republican Party, New York Post, Disney, Florida Gov, Little League Baseball, Petersburg Times, Zuma Press, Dunedin High School, Yale University, US Navy, Navy, General's Corps, District, DeSantis, First, Bloomberg, Miami Herald, Tribune, Service, Democratic, Orlando Sentinel, White, Orlando Magic, NBA, Coronavirus, New York Times, Tallahassee Democrat, USA, Conservative Political, Conference, University of South, Reuters, Iowa State University football, PAC, “, Fox News, Florida, Central Bank Digital Currency, Iowa, Gov, “ Iowa Republican, Republicans Locations: Iowa, Florida, New Hampshire, Hawkeye, Hampton , New Hampshire, AFP, Wally's, Jacksonville , Florida, Dunedin , Florida, Windsor, V, St, Florida's, Tampa , Florida, Orlando, Jacksonville, Sanford , Florida, Tallahassee , Florida, Tallahassee, Pompano Beach , Florida, Miami, Surfside , Florida, University of South Florida, Covid, Tampa, Bedford, Bedford , New Hampshire, Ames , Iowa, New York, Dunedin, Newton , Iowa, Park City , Utah, Tennessee, South Carolina, Trump, Des Moines, West Des Moines , Iowa, Myrtle Beach, “ Iowa, America Florida

☆ Ian Bailey, suspect in notorious West Cork murder case, dead at 66
▼ + stars: | 2024-01-22 | by ( Lianne Kolirin | Kara Fox | ) edition.cnn.com time to read: +3 min

Back in 2019, the Paris Criminal Court convicted Ian Bailey in absentia of the murder of TV producer Sophie Toscan du Plantier and sentenced him to 25 years’ imprisonment. Sophie Toscan du Plantier's brutalized body was discovered outside her home in West Cork. Patrick Zimmermann/AFP/Getty ImagesOn December 23, 1996, 39-year-old Toscan du Plantier was found bludgeoned to death near the gate of her vacation home near Toormore, in Ireland’s West Cork region. The case was widely publicized as the victim had been married to Daniel Toscan du Plantier, a well-known French film producer. Weeks after the murder, Bailey’s editor at the now defunct Sunday Tribune told police that he told her that he killed Toscan du Plantier to resurrect his career.

Persons: CNN —, Ian Bailey, Sophie Toscan du Plantier, Bailey, Sophie Toscan du, Patrick Zimmermann, Plantier, Daniel Toscan du, Frank Buttimer, “, Ian, du, Buttimer, ”, Weeks, Toscan du Plantier, Antoine Crouin Organizations: CNN, Criminal, Netflix, Police, PA Media, Sunday Tribune Locations: French, Ireland, West Cork, Toormore, Ireland’s West Cork, France

☆ Four survive charter jet crash in Afghanistan but condition of two others unclear, Russia says
▼ + stars: | 2024-01-21 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Two Taliban provincial officials said four survivors were now with Taliban administration officials who had reached the remote, mountainous site of the crash. The Taliban administration’s top spokesman Zabiullah Mujahid said the pilot of the plane was among four who had survived. The Russian-registered charter plane with six people on board disappeared from radar screens over Afghanistan a day earlier, Russian aviation authority Rosaviatsia said on Sunday, after Afghan police said they had received reports of a crash. The pilot then reported that one engine had stopped, and then that the second one had also stopped, SHOT reported. Afghanistan police had received reports of a plane crash in a remote, mountainous region of Badakhshan in Afghanistan’s far north, a provincial police spokesperson said on Sunday.

Persons: Zabiullah Mujahid, ”, Rosaviatsia, “, Zabihullah Amiri Organizations: CNN, Taliban, Thailand’s Utapao, Dassault Aviation, Falcon, Reuters, Russia’s, Athletic Locations: Moscow, Afghanistan, Islamic, Thailand’s, Pattaya, India, Uzbekistan, Tajikistan, Russian, Indian, Thailand’s Pattaya, Bangkok, “, Russia, Badakhshan, Afghanistan’s, Fayzabad

☆ Stocks making the biggest moves premarket: Spirit Airlines, Nvidia, Wayfair and more
▼ + stars: | 2024-01-19 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

This is Wayfair's third restructuring since 2022 and is expected to save the company about $280 million. Hertz — Hertz shed 2.8% on a Jefferies price target cut and downgrade to hold from buy. AMD added 1.6%, after reaching its highest-ever closing price on Thursday amid increased investor interest in the second-largest standalone GPU maker. DraftKings — Shares of the sports betting company rose more than 1% after Stifel upgraded DraftKings to buy from hold. J.B. Hunt Transport Services – Shares rose more than 3% after the company posted mixed quarterly results.

Persons: Hertz, Wells, Stifel, J.B, J.B . Hunt, Macheel, Samantha Subin, Jesse Pound Organizations: Jefferies, EV, Spirit Airlines, JetBlue, Texas, UBS, Nvidia, AMD, ESPN Bet, Hunt Transport, LSEG

☆ Biden administration plans to slash overdraft fees at big banks: 'I call it exploitation,' president says
▼ + stars: | 2024-01-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

The Consumer Financial Protection Bureau on Wednesday proposed a set of new rules that would slash the fees banks charge customers for withdrawing more than the available funds in their account. Americans have paid an estimated $280 billion in overdraft fees since 2000, according to data from the consumer watchdog agency. "For too long, some banks have charged exorbitant overdraft fees — sometimes $30 or more — that often hit the most vulnerable Americans the hardest, all while banks pad their bottom lines," President Joe Biden said in a statement. Overdraft fees affect some 23 million households in a given year, and the proposed cutbacks would save Americans about $3.5 billion annually, the CFPB says. Much of that money would theoretically return to the pockets of lower income bank customers: Consumer Reports says 8% of bank customers generate nearly 75% of banks' revenue from such fees.

Persons: Joe Biden Organizations: Consumer Financial, Biden, Consumer

☆ Stocks making the biggest moves after hours: iRobot, Super Micro Computer, PPG Industries and more
▼ + stars: | 2024-01-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

The lower end of PPG's range for full-year earnings guidance was also well below what analysts called for. On the other hand, the company's earning and revenue for the fourth quarter of 2023 topped what analysts had anticipated. Super Micro Computer — Shares of the information technology firm gained 6% after Super Micro Computer reported preliminary second-quarter adjusted earnings of between $5.40 and $5.55 per share, higher than its previous guidance of between $4.40 to $4.88 per share. Super Micro also reported a preliminary revenue of between $3.6 billion to $3.65 billion, topping its prior guidance of $2.7 billion to $2.9 billion. The Wall Street Journal reported late Thursday that the European Union's antitrust watchdog anticipates blocking Amazon's acquisition of iRobot.

Persons: Hunt, Kirk Tanner, Todd Penegor, iRobot Organizations: PPG Industries, Micro Computer, Micro, Hunt Transport, LSEG, Wendy's, PepsiCo, Blackwells, Street Journal

☆ iRobot shares tank 30% on report EU plans to block Amazon acquisition
▼ + stars: | 2024-01-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

Shares of iRobot plunged more than 33% in extended trading on Thursday after a report said the EU's antitrust watchdog intends to block Amazon 's planned acquisition of the Roomba vacuum maker. A representative from the European Commission didn't immediately respond to a request for comment. The European Commission, the European Union's top antitrust enforcer, opened an in-depth probe into the purchase last July. The group warned the planned acquisition raises competition concerns, saying it found Amazon may hinder iRobot's rivals from competing on its online marketplace. Earlier this month, Politico reported Amazon doesn't plan to offer concessions to resolve the group's concerns about the acquisition.

Persons: vacuums, iRobot Organizations: Street Journal, European, Amazon, European Commission, Politico, U.S . Federal Trade Commission, Markets Authority Locations: San Rafael , California

☆ Winklevoss' crypto exchange Gemini gets nod to launch in France amid clash with U.S. regulators
▼ + stars: | 2024-01-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Tyler Winklevoss and Cameron Winklevoss (L-R), co-founders of crypto exchange Gemini, on stage at the Bitcoin 2021 Convention in Miami, Florida. Cryptocurrency exchange Gemini has been awarded crypto registration to launch its services in France, the company told CNBC exclusively. The firm, which was founded and is owned by twins Tyler and Cameron Winklevoss, said it was approved as a virtual asset services provider by French markets watchdog Autorite des marches financiers (AMF). "This latest regulatory approval in France represents a significant moment in our European expansion," Gillian Lynch, head of EU at Gemini, said in emailed comments. Institutional clients will get access to Gemini eOTC, Gemini's electronic over-the-counter trading solution.

Persons: Tyler Winklevoss, Cameron Winklevoss, Gemini, Tyler, Gillian Lynch Organizations: CNBC, AMF, EU, Gemini Locations: Miami , Florida, France

☆ Consumer watchdog agency proposes limits on overdraft fees at big banks and credit unions
▼ + stars: | 2024-01-17 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

New York CNN —The Consumer Financial Protection Bureau on Wednesday said it is proposing a rule that would curb excessive overdraft fees charged to customers of large banks and credit unions, potentially saving consumers as much as $3.5 billion a year. Too often, the consumer watchdog agency has noted, bank customers are surprised by overdraft fees and those who can least afford them are charged the most frequently. Annual overdraft fee revenue in 2019 was an estimated $12.6 billion,” CFPB said. Today, big banks have made many modifications to their overdraft practices, effectively lowering their overdraft revenue to roughly $9 billion a year. The CFPB rule would lower that amount further by requiring big banks and credit unions to be as forthcoming about the terms of extending an overdraft loan as they are for other lending products.

Persons: ”, Rohit Chopra, CFPB, ” CFPB Organizations: New, New York CNN, Consumer Financial, Biden Administration Locations: New York, United States

☆ Indonesia Presidential Hopefuls Pledge to Boost Troubled Anti-Graft Agency
▼ + stars: | 2024-01-17 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

JAKARTA (Reuters) - Indonesia's presidential candidates have pledged to strengthen the government's anti-corruption agency, laying out their plans ahead of the country's Feb. 14 election, to counter pervasive graft in Southeast Asia's largest economy. Anies, the former governor of the capital Jakarta, said he would bring Indonesia's battle against graft back on track by strengthening the KPK and revising the law governing the agency. The revision, made under current President Joko Widodo, who is known as Jokowi, triggered mass protests at the time. We have the capability, we are not poor," he added, without elaborating on the budget plan for the wage increase. In 2022, Indonesia dropped four places on global graft watchdog Transparency International's corruption perception index to 110 out of 180 countries.

Persons: Prabowo Subianto, Ganjar Pranowo, Joko Widodo, Prabowo, Jokowi, Jokowi's, Firli Bahuri, Stanley Widianto, Ananda Teresia, Christian Schmollinger Locations: JAKARTA, Asia's, Jakarta, Central Java, Indonesia

☆ Biden administration unveils proposed changes to big banks' overdraft fees
▼ + stars: | 2024-01-17 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

Samuel Corum/Bloomberg via Getty ImagesWASHINGTON — The Consumer Financial Protection Bureau on Wednesday unveiled long-awaited changes to how the nation's biggest banks structure overdraft protection plans. Since 2000, American consumers have paid an estimated $280 billion in bank overdraft fees, according to CFPB data. During that time, the annual revenue big banks derived from overdraft fees soared, helped along by the boom in consumer debit cards tied directly to checking accounts. Taken together, these banks typically account for more than 80% of the overdraft fees charged in any given year. Banking trade groups deeply opposed to any changes in the overdraft rules have already begun to mobilize opposition, which is only expected to grow.

Persons: Washington . Samuel Corum, Joe Biden, Parks, Lael Brainard, Andrew Caballero, Reynolds, CFPB, Biden Organizations: Consumer Financial, Bloomberg, Getty Images WASHINGTON, National Economic, White, AFP, Getty, Banking, Consumer Bankers Association Locations: Washington ., Washington ,

☆ Climate deniers are turning to new tactics, spreading a wave of misinformation on YouTube, watchdog says
▼ + stars: | 2024-01-16 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +6 min

Researchers gathered transcripts from more than 12,000 videos posted between 2018 and 2023 across 96 YouTube channels that have promoted climate denial and misinformation. “The climate movement has won the argument that climate change is real, and that it is hurting our planet’s ecosystems,” he told CNN. As the impacts of the climate crisis — from scorching heat waves to fierce storms — affect a broader swath of the global population, narratives that deny the existence of climate change are becoming less effective. “There aren’t many companies that would be happy about seeing their advertising appear next to clear climate denial content,” Ahmed said. “We’re asking other platforms that claim to be green in one breath not to profit from, to revenue share, and therefore, reward or to amplify clear climate denial content that contradicts scientific consensus,” Ahmed added.

Persons: you’ve, Imran Ahmed, CCDH, it’s, ”, ” Ahmed, Charlie Cray, Michael Mann, ” Mann, “ We’re Organizations: CNN, YouTube, Pew Research Center, Greenpeace, University of Pennsylvania, Google

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