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NEW YORK (AP) — The squabble over billion of dollars in overdraft fees that Americans get charged every year is intensifying. While banks have drastically cut back on overdraft fees in the past decade, the nation's biggest banks still take in roughly $8 billion in overdraft fees every year, according to data from the CFPB and bank public records. Political Cartoons View All 253 ImagesBanks charge a customer an overdraft fee if their bank account balance falls below zero. What started off as a courtesy offered to some customers, the popularity of debit cards beginning in the 1990s led to Americans wracking up tens of billions of dollars in overdraft fees. While big banks have cut back on overdraft fees, smaller banks have not, and a number of them heavily rely on overdrafts to be profitable, industry analysts said.
Persons: Biden, “ It's, Joe Biden, , Greg McBride, , Aaron Klein, ” Klein, Rohit Chopra, ” Chopra, Chopra, Barack Obama, Carter Dougherty, overdrafts, can’t Organizations: Consumer Financial, Biden Administration, Federal Trade Commission, Bank of America, Banking, Bankrate, Brookings Institution, Armed Forces Bank, Republican, Trump Administration, American Bankers Association, Financial Reform
That explains why Trump got about half of all the Republican votes in Iowa, leaving DeSantis far behind. That should tell you a lot about Iowa voters, but enough of them also voted for DeSantis and Haley. When I spoke to the Haley campaign early Monday morning, before the Iowa caucuses had begun, they said they were shifting toward Trump, seemingly writing DeSantis off as their closest threat. DeSantis himself said last week that his finish in Iowa could “upend” Trump’s lead in the GOP primary. Join us on Twitter and FacebookAnd as one DeSantis campaign committee member said, “a close second would be a successful outcome,” and “third place is not good.”Needless to say, DeSantis did not win.
Persons: Donald Trump’s, Ron DeSantis, Patrick T, Brown, Donald Trump, Michael Brendan Dougherty, Christopher Rufo, DeSantis didn’t, I’d, Elon Musk, Semafor’s David Weigel, dinging Trump, It’s, Trump, Nikki Haley, Haley, George W, she’s, Nikki Haley wasn’t, They’re, Ron DeSantis ’, MAGA, Joe Biden’s, , She’ll, DeSantis, Kim Reynolds, , it’s Haley Organizations: CNN, Florida Gov, Republican, Manhattan Institute, Twitter, Elon, Trump, Republican Party, Public Policy Center, South Carolina Gov, Iowa Republicans, Iowa, DeSantis, Iowa Caucus, Iowa Gov, GOP, Facebook, New Hampshire Locations: Iowa, Florida, America, New Hampshire, Washington ,, New
The strategy of association was evident as Democratic leader Hakeem Jeffries of New York castigated Republicans in comments leading up to Santos' expulsion on Friday. “Look, House Republicans knew a lot about George Santos before he was elected. In May, all five of the Republicans voted to refer to the Ethics Committee a Democratic-sponsored resolution to expel Santos. Rep. Richard Hudson, chairman of the campaign arm for House Republicans, dismissed the threat of Santos tainting other Republicans. Ellie Dougherty, a spokesperson for the Democratic Congressional Campaign Committee, said New York Republicans spent months protecting Santos.
Persons: — George Santos, Hakeem Jeffries, Santos, George Santos, ” Jeffries, coddle George Santos, Anthony D’Esposito, Michael Guest, D'Esposito, Nick LaLota, Mike Lawler, Joe Biden, Biden, Lawler, Marc Molinaro, , ” Molinaro, ” Santos, Brandon Williams, Molinaro, “ George Santos, , Mike Johnson, Johnson, ” D’Esposito, Tom Suozzi, Richard Hudson, Hudson, Ellie Dougherty, we’ll, Lisa Mascaro Organizations: WASHINGTON, York, Republicans, Republican, Committee, New York Republican, Wall, Democratic, White, New, Democrat, House Republicans, Democratic Congressional, New York Republicans, Republican Party, AP Locations: New York, Santos, Mississippi, D'Esposito's, New York City, New Yorkers, Long, Hudson, Central New York
Jan Sramek has spent the past several months in restaurants and conference rooms pitching politicians, environmentalists and labor unions on a plan to erect a new California city on open farmland in an eastern corner of the San Francisco Bay Area. The project is backed by a host of big Silicon Valley names, including the venture capitalists Michael Moritz and Marc Andreessen, the LinkedIn co-founder, Reid Hoffman, and the Emerson Collective founder, Laurene Powell Jobs. At an event Wednesday evening, Mr. Sramek, the chief executive of a company called California Forever, took his case to the Solano County voters. Mr. Sramek took it in stride, patiently answering questions and appearing mostly unruffled. He promised improved infrastructure, employment and middle-class homes for the county’s 450,000 residents.
Persons: Jan Sramek, Michael Moritz, Marc Andreessen, Reid Hoffman, Laurene Powell Jobs, Sramek, , “ Flannery Will Ruin Organizations: San Francisco Bay Area, LinkedIn, Emerson Collective, Solano County voters, Vallejo Naval, Historical Museum Locations: California, San Francisco Bay, Solano County
From 2011 to 2015, about 100,000 properties — more than a quarter of the Detroit lots — were auctioned in tax foreclosures, according to Regrid, a Detroit-based provider of parcel data nationally. (Speculators recently made money after the city bought out vacant lots to help revive an auto plant that would bring jobs to the area.) Mr. Allen said his main project at the agency was finding new ways to stimulate growth that didn’t rely on grants and tax breaks. After reading “Progress and Poverty” years earlier, he’d become obsessed with the problem of speculation, and suggested a land-value tax. A tax break for residents — paid for by nameless investors who are “taking advantage of the city” — would seem like a political layup.
Persons: Duggan, Nick Allen, Allen, he’d, Henry George, Organizations: Massachusetts Institute of Technology, Mr, Poverty Locations: Detroit
The US housing market looks like it's headed for a recession, Wells Fargo has warned. AdvertisementAdvertisementThe Federal Reserve's aggressive interest-rate hikes could be about to trigger a housing-market recession that echoes the slowdown of the 1980s, Wells Fargo has warned. "Although mortgage rates may gradually descend once the Federal Reserve begins to ease monetary policy, financing costs are likely to remain elevated relative to recent norms," they added. Please Lower Interest Rates." AdvertisementAdvertisement"The plea for assistance from housing industry participants, both in the early 1980s and more recently, illustrates the severe impact higher interest rates can have on the residential sector," Dougherty and Barley wrote.
Persons: Wells Fargo, , Charlie Dougherty, Patrick Barley, Freddie Mac, Jackson, Paul Volcker, National Association of Homebuilders, Jerome Powell, Dougherty, Barley Organizations: Service, Federal, Fed, Wells, National Association of Realtors, Mortgage Bankers Association, National Association of Locations: Redfin
First, Jewish donors probably can’t win the identity politics game. But this strategy also has inherent limits, insofar as the free speech protected by campus administrators is only as diverse as the people who are speaking. Which brings us to the second point for would-be reshapers of the university: If you can’t influence faculty hiring and tenure, you may be wasting your money. Will the University of Pennsylvania miss the collection of major donors who’ve denounced the school in the past week? But not with the goal of using such student groups as a means of conflict with the administration or the faculty.
Persons: Jason Willick, specter, Willick, you’re, Donald Trump, there’s, Bernie, Sanders, they’re, who’ve, Leland Stanford ”, Rather, Michael Brendan Dougherty, Chris Caldwell, Anthony Grafton, Anthony Lane, Arthur Brooks, George Orwell, Zvi Mowshowitz, Keith Phipps, Martin Scorsese’s “, Foucault, — Maxi, Organizations: The Washington Post, Cornell, University of Pennsylvania, Big, Hillel, Penn, Locations: The Washington, State, Israel, tokenism, Harvard, Poland, Foucault’s
With interest rates rising and mortgage costs with them, homebuilders are pulling in yards, tightening living rooms and lopping off bedrooms in an attempt to keep the monthly payment in line with what families can afford. In a recent survey of architects, John Burns Research and Consulting found that about half expected their average house size to decline. New communities will have more duplexes or small-lot single-family homes that are just a few feet apart. Even in Texas, where land is abundant, builders are adding more homes per acre, the company found. “The monthly payment matters more than anything else and builders have responded with smaller, more efficient homes,” said John Burns, the company’s chief executive.
Persons: John Burns, , Hayden Organizations: John Burns Research, Consulting Locations: Texas, Pacific Northwest, exurbs
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CNN —Demolition of the Los Angeles area home where Marilyn Monroe spent her last months has been put on hold by Los Angeles City Council, following a last-minute motion aimed at designating the house a Historic-Cultural Monument. Baron/Hulton Archive/Getty Images Norma Jeane Mortenson, who later changed her name to Marilyn Monroe, was born in 1926 in Los Angeles. Hulton Archive/Getty Images She was in several movies in 1950, including "The Asphalt Jungle" and "All About Eve." Hulton Archive/Getty Images Monroe wins a trophy at the "Star Of Tomorrow" Awards in Los Angeles in 1952. Bettmann Archive/Getty Images Monroe and former Yankees baseball player Joe DiMaggio leave city hall after their wedding.
Persons: Marilyn Monroe, Traci, Baron, Norma Jeane Mortenson, Gladys Baker, Marilyn, Claudette Colbert, Monroe, Jim Dougherty, Grace McKee, Grace, Michael Ochs, Norma Jeane, Emmeline Snively, Richard C, Miller, Donaldson, they're, Ben Lyons, Lyon, Theisen, he'd, Mira Sorvino, Frank Cronenweth, Peggy Martin, Shutterstock Monroe, Phil Moore, J R, she's, Johnny Hyde, Nancy Lee Andrews, you'll, Earl Leaf, Ray Anthony Band, Shutterstock, David Wayne, Christina Newland ., Kardashian, Amber Tamblyn, Alfred Eisenstaedt, Jane Russell, Joe DiMaggio, Amy Greene, Monroe's, Matty Zimmerman, DiMaggio, Joe, it's, Ella Fitzgerald, that's Ella Fitzgerald, Ed Feingersh, Elizabeth Winder, Ellen Burstyn, Arthur Miller, ullstein, He's, Harold Clements, Queen Elizabeth II, Laurence Olivier, Sugar Kane, Billy Wilder, I'm, Christina Newland, John F, Kennedy, Robert Kennedy, It's, Cecil W, Marilyn Monroe's, , Organizations: CNN, Los Angeles City Council, Department of Building, Safety, Hulton, Michael Ochs Archives, Model Agency, Century Fox, Columbia Pictures, Columbia, West Hollywood, Photoplay, Getty, Gentlemen, Fox, Hollywood, Bettmann, Yankees, US, Tiffany Club, New York, Grand Central, Queen, Royal, Daily Herald, Stoughton, Alamy, Los Angeles City, Historic Resources Locations: Los Angeles, Brentwood, Monroe, West Virginia, Columbia, Warrenburg , New York, American, Hollywood, Korea, York, New York, California, Hollywood , California, New, Grand, London, England, Polyclinic, Madison
What if you built a new city from the ground up? Mr. Sramek, a former Goldman Sachs trader, had moved to the San Francisco Bay Area to make it in tech. He was a European immigrant smitten with the energy of local start-ups, but he preferred more walkable cities like Zurich. Soon, he began taking fishing trips to Solano County on the San Francisco Bay’s eastern edge. A rural corner of the county eventually became the centerpiece of a plan hatched by Mr. Sramek to build a city from scratch.
Persons: Jan Sramek, Sramek, Goldman Sachs, Flannery Organizations: San, San Francisco Bay Area, Flannery Associates Locations: San Francisco Bay, European, Zurich, Solano County, San Francisco, Silicon Valley
Jan Sramek was 15 years old the first time he tried to get a government to do something he wanted. The problem was his town of 1,400 people had only dial-up internet service. He persuaded the local government to pay an internet service provider to bring the town a broadband connection. He was even paid a commission for it, Mr. Sramek wrote in “Racing Towards Excellence,” a sort of self-help book for ambitious young adults he co-wrote in 2009. The next campaign for Mr. Sramek could be more profitable.
Persons: Jan Sramek, Sramek Organizations: Silicon Locations: Drevohostice, Czech Republic, Northern California
The suits allege that downed power lines operated by the company contributed to the deadliest U.S. wildfire in more than a century. The wildfire risk posed by aboveground power lines is well documented. Lives lost, billions in damagesThe Maui fires have killed at least 115 people with hundreds still missing. But Mitchell said insulating aboveground power lines with a protective covering is also an effective solution that is cheaper and can be rolled out more quickly. There is also technology coming to market that can de-energize power lines automatically when there's a problem, he said.
Persons: Mike Blake, Fitch, Berkshire Hathaway's, Paul Starita, They're, Singleton Schreiber, Alexandra von Meier, von Meier, Marshall, Michael Dougherty, Bob Frenzel, Xcel, Berkshire Hathaway, PacifiCorp, aboveground, Scott Aaronson, Aaronson, Joseph Mitchell, Mitchell Organizations: Reuters Electric, Hawaiian Electric, National Weather Service, Hawaii Electric, . Pacific Gas & Electric, PG, Xcel Energy, U.S . Forest Service, University of California, Moody's, Fitch, Electric, Alcohol, Tobacco, Firearms, Explosives, Xcel, Marshall Fire, Marshall, Boulder, Labor, Fire, American Society of Civil Engineers, ASCE, The Edison Electric Institute, California Public Utilities Commission Locations: Lahaina, Maui, Hawaii, U.S, Maui County, Hurricane, California, Berkshire, Berkshire Hathaway's PacifiCorp, Oregon, Colorado, Berkeley, Minnesota, Boulder County, Paradise, Golden
In 2017, Michael Moritz, the billionaire venture capitalist, sent a note to a potential investor about what he described as an unusual opportunity: a chance to invest in the creation of a new California city. The site was in a corner of the San Francisco Bay Area where land was cheap. He painted a kind of urban blank slate where everything from design to construction methods and new forms of governance could be rethought. And it would all be a short distance from San Francisco and Silicon Valley. “Let me know if this tickles your fancy,” he said in the note, a copy of which was reviewed by The New York Times.
Persons: Michael Moritz, Moritz Organizations: The New York Times Locations: California, San Francisco Bay, Paris, New York, San Francisco, Silicon Valley
Traditional public housing, financed by the Department of Housing and Urban Development and operated by one of the nation’s roughly 3,300 public housing agencies, is locked in steady decline. Today, instead of building taxpayer-owned buildings, much of the federal housing money flows through the private sector. The underlying message of those programs is that the era of government-owned housing is over. In Montgomery County, however, the stock of government-owned housing has steadily grown for decades while the definition of what it can be has expanded. The reason: In the Washington region, as in every other high-growth metropolitan area, the demand for affordable housing is way beyond what federal housing programs can provide.
Organizations: Department of Housing, Urban Development Locations: Montgomery County, Washington
Ahmad Al Aliwi Alissa, suspect of the King Soopers grocery store shooting, appears in a Boulder County District courtroom at the Boulder County Justice Center in Boulder, Colorado, U.S. May 25, 2021. Matthew Jonas/Boulder Daily Camera/Handout via REUTERS/File Photo Acquire Licensing RightsDENVER, Aug 23 (Reuters) - A man accused of killing 10 people in a 2021 supermarket shooting in Colorado has been determined competent to stand trial, the prosecutor's office said Wednesday. A judge had ordered Ahmad Al Aliwi Alissa in December 2021 to undergo treatment at the state's mental hospital after ruling he was incompetent to stand trial following two court-ordered psychological evaluations. On Wednesday, Boulder District Attorney Michael Dougherty's office said the Colorado Department of Human Services had recently provided a re-evaluation report that concluded Alissa had been "restored to competency." Alissa is charged with 10 counts of first-degree murder stemming from the March 22, 2021 shooting at a King Soopers grocery store in Boulder, Colorado, about 28 miles (45 km) northwest of Denver.
Persons: Ahmad Al Aliwi Alissa, King, Matthew Jonas, Michael Dougherty's, Alissa, Keith Coffman, Donna Bryson, Bernadette Baum Organizations: Boulder County Justice Center, REUTERS, Rights DENVER, Boulder District, Colorado Department of Human Services, Ruger, Authorities, Thomson Locations: Boulder County, Boulder, Boulder , Colorado, U.S, Colorado, Alissa, Denver
Thanks to their ability to store large amounts of energy in a small package, lithium-ion batteries have become increasingly popular, powering such devices as laptops and vape pens as well as electric cars and bikes. While most of the batteries operate safely, a small percentage can malfunction and catch fire, sometimes with lethal results.
“There is a pretty foundational bias against renters in American sociological and political life,” said Jamila Michener, a professor of government and public policy at Cornell. But the number of renters has grown steadily over the past decade to about 44 million households nationwide, while punishing housing costs have migrated from coastal enclaves to metropolitan areas around the nation. More salient to politicians, perhaps, is that renters are increasingly well-off — households that make more than $75,000 have accounted for a large majority of the growth in renters over the past decade, according to the Harvard Joint Center for Housing Studies. At the same time, the struggle to find something affordable has escalated from lower-income tenants to middle-income families that in past generations would very likely have owned their homes. In other words, renter households are now composed of families much more likely to vote.
Persons: , Jamila Michener, Organizations: Cornell, Harvard Joint Center for Housing Studies
“NAFO” stands for the North Atlantic Fellas Organization and is a decentralized online volunteer organization that is waging its own social media war against Russia and its invasion of Ukraine. Over the weekend, the group held its own summit in Lithuania’s capital, which was opened by the country’s foreign minister. A cartoon Shiba Inu, wearing the blue and yellow colors of Ukraine's flag, pops up behind Estonian Prime Minister Kaja Kallas in a video she shared on Twitter. Some fellas are Ukrainian soldiers, who are fighting on the front lines and provide pictures from the battlefield, mocking the incompetence of the Russian military or praising Ukrainian bravery. After identifying Russian propaganda or pro-Russian sympathizers, fellas pile on their posts with memes, humor, wry logic, and dismissive comments.
Persons: Kaja Kallas, Kallas, Petras Malulas, NAFO, Kamil Dyszewski, Gabrielius Landsbergis, Keir Giles, Matt Moores, you’ve, Maria Zakharova, ’ ”, Defense Oleksii Reznikov, , Shiba, Shiba Inu, Ben Wallace, Adam Kinzinger Organizations: CNN, Estonian, Atlantic Fellas Organization, Twitter, Getty, Georgian Legion, Center for Strategic, International, Russian Foreign, Union, Ukraine’s, Defense, United Kingdom’s, Ukraine Locations: Vilnius, Lithuania, Estonian, Russia, Ukraine, Lithuania’s, AFP, Russian, Egypt
But after 10 rate hikes, the housing market — traditionally one of the most interest-rate-sensitive areas of the economy — is anything but predictable. Mortgage rates then continued to climb in tandem with the Fed’s hikes until November, when mortgage rates peaked at 7.08%, despite four subsequent rate hikes since then. Higher mortgage rates have reduced home inventoryIn theory, when mortgage rates go up, home prices should fall since it raises the cost of homeownership, thereby reducing demand. That’s partly because the higher mortgage rates that came after the Fed hiked rates created a major lock-in effect, said Kiefer. “That tells the crux of the story for why the housing market seems a bit odd right now,” Divounguy said.
Persons: , Orphe Divounguy, Banks, Freddie Mac, Charles Dougherty, Dougherty, , Len Kiefer, ” Kiefer, Kiefer, Divounguy, Zillow’s Divounguy, ” Divounguy Organizations: New, New York CNN, Federal Reserve, Zillow, Fed, National Association of Realtors, , CNN, homebuying Locations: New York, That’s, Wells Fargo, Realtor.com
CNN —The bizarre tale of Yevgeny Prigozhin, Russian President Vladimir Putin’s former pal-turned-mutineer, just got a whole lot weirder. His men had three choices: follow Prigozhin to Belarus, join the regular Russian military, or stop fighting and go home. He was a tough guy strutting about in camouflage, whose fighters could win battles in Ukraine that the regular Russian military couldn’t handle. Prigozhin’s ultimate fate is still unclear, but he is only one of Putin’s problems. And that portends more repression, more “settling scores,” and more fighting behind the scenes in Putin’s Russia.
Persons: Yevgeny Prigozhin, Vladimir Putin’s, Wagner, , , Alexander Lukashenko, Lukashenko, Prigozhin, Putin, Vlad Karkov, Organizations: CNN, Putin’s, Locations: Russian, Belarusian, Russia, Belarus, St . Petersburg, Moscow, Prigozhin’s St, Petersburg, Ukraine, Rostov, Vesti
The crisis in Russia erupted Friday when Prigozhin accused Russia’s military of attacking a Wagner camp and killing his men – and vowed to retaliate by force. Russian President Vladimir Putin addresses the nation after an insurrection led by Wagner boss Yevgeny Prigozhin, on June 24. The Wagner group is “an independent fighting company” with different conditions than the Russian military, said retired US Army Maj. Mike Lyons on Saturday. Whatever it is, it’s really bad news for Putin.”Video shows Prigozhin leaving Russian military headquarters 01:46 - Source: CNNWho is Prigozhin? Wagner was thrust into the spotlight during the Ukraine war, with the fighters appearing to win tangible progress where regular Russian troops failed.
Persons: Vladimir Putin, Wagner, Putin, , Yevgeny Prigozhin, Alexander Lukashenko, Prigozhin, Alexander Ermochenko, Reuters Wagner, It’s, Russia’s, Pavel Bednyakov, , Tsar Nicholas II, What’s, Mike Lyons, we’ve, “ Putin, , Jill Dougherty, CNN’s, , Dougherty, ” Dougherty, it’s, Steve Hall, Hall, ” Hall Organizations: CNN, Belarusian, Kremlin, Russia’s Ministry of Defense, Reuters, Sputnik, AP Russia’s Defense Ministry, Putin, Russia, Saturday, US Army, , Russian Ministry of Defense, CIA Locations: Russia, Moscow, Belarus, Ukraine, Rostov, Don, Voronezh, Russian,
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From the pedestrian to the dodgy, it all seems to underscore the manner in which the nation’s real estate market has been frozen by regret. In lieu of acceptance, a determined few are trying to use imagination and fine print to build a portal to the cheap-money days of 2021. In theory, any of the millions of homeowners holding a assumable low-rate mortgage have a valuable perk to sell with their home. Still, real estate agents say it can be hard in practice to transfer them. For instance, homeowners who transfer a V.A.-backed mortgage can lose their ability to get another similar loan unless they can find a V.A.-eligible buyer to take their original mortgage.
Persons: , influencers, “ It’s, Scott Trench, Sellers, Michael Fratantoni, Black Knight Organizations: Federal Housing Administration, Department of Veterans Affairs, Department of Agriculture, Mortgage, Association Locations: U.S
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