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The agreement currently applies to some 3,900 children separated from their parents during Trump's presidency from 2017-2021, according to the American Civil Liberties Union (ACLU), which represents separated families in a lawsuit first filed in 2018. An estimated 500-1,000 children remain separated and the number covered by the settlement will likely expand, the ACLU said. Trump, the frontrunner to become the Republican nominee for president in 2024, has criticized Biden's handling of border security and pledged to implement hardline immigration policies if reelected. As part of the settlement, separated families will have access to temporary housing support for one year, according to court documents. The Biden administration in 2021 broke off class-wide settlement talks that would have provided monetary compensation to separated families.

Persons: Jose Luis Gonzalez, Donald Trump, Joe Biden's, Trump, Alejandro Mayorkas, Lee Gelernt, Biden, Ted Hesson, Deepa Babington Organizations: U.S, REUTERS, Firms American Civil Liberties Union Follow WASHINGTON, American Civil Liberties Union, ACLU, Joe Biden's Democratic, Government watchdogs, Republican, Homeland, Biden, U.S . Citizenship, Immigration Services, Reuters, Thomson Locations: United States, Rio Bravo, Mexico, Ciudad Juarez, U.S, Washington

☆ We're finally seeing the impact of Fed tightening on the economy, says Fmr. TD Ameritrade CEO
▼ + stars: | 2023-09-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're finally seeing the impact of Fed tightening on the economy, says Fmr. TD Ameritrade CEOJoe Moglia, Former TD Ameritrade CEO, joins 'Closing Bell Overtime' to talk the market's performance over the past quarter, Fed policy's impact on the economy and more.

Persons: Fmr, TD, Joe Moglia

☆ Mark Zuckerberg’s new return-to-office mandate is a clear problem, says Harvard expert: It’ll cause a ‘huge amount of distrust’
▼ + stars: | 2023-08-25 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

The latest twist in Meta's return-to-office saga doesn't reflect well on CEO Mark Zuckerberg, says a Harvard University expert. Meta established a widely encompassing remote-work policy in 2021, before announcing its intention to move toward a hybrid schedule in June. Employees can still apply for full-time remote status, the memo noted. "Leaders must make sure that they're practicing transparency, and that their actions match their words," Gardner says. "Establishing trustworthiness is an essential part of being a leader, and it takes empathy to create that trust."

Persons: Mark Zuckerberg, it's, Heidi K, Gardner, Meta Organizations: Harvard University, Meta, Employees, Harvard Law School, CNBC

Considering contributing to a 529 plan for their college education, or making them your life insurance beneficiary. But when that generosity comes at the cost of depleting your own retirement savings, the prospect becomes a lot less compelling. At current levels, most American families will have absolutely zero interaction with federal estate taxes. Amorello explained: "Gifting money actually can help grandparents lessen their own net worth to lower estate taxes. Because if you're leaving behind an inheritance, but half of it is going to the estate taxes, that can be a daunting realization."

Persons: Kathryn Amorello, Don, It's, Amorello, you've, they're, we've, — Organizations: Service, Financial, Internal Revenue Service Locations: Wall, Silicon, Amorello

☆ A conservative group filed a lawsuit to block $39 billion in debt relief for 800,000 borrowers on income-driven repayment plans
▼ + stars: | 2023-08-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Conservative groups just filed a lawsuit to block Biden's latest student-debt relief effort. Last month, Biden announced $39 billion in relief for 800,000 borrowers through an adjustment to income-driven repayment plans. Last month, the Education Department said it would be automatically canceling $39 billion in student debt for 804,000 borrowers as a result of changes to the department's income-driven repayment plans. The relief was for borrowers who have completed the necessary 20 or 25 years of qualifying payments. They argued that as nonprofits, "unlawful cancellation of student-loan debt reduces the amount of a borrower's PSLF-cancellable debt and thus reduces the amount by which PSLF benefits qualified employment."

Persons: Biden, Joe Biden's, —, Biden's Organizations: Service, New Civil Liberties Alliance, Cato Institute, Mackinac Center for Public Policy, Education Department, Court, Eastern, Eastern District of Michigan, Department, Public Locations: Wall, Silicon, Eastern District

☆ Dollar teeters near one-year low while euro scales 17-month peak
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: +3 min

"I think the dollar can stay under selling pressure," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. Money markets have largely priced in a 25-basis-point rate hike from the Fed at its policy meeting later this month, though see rates coming down as early as December. Conversely, investors expect the European Central Bank and the Bank of England to have further to go in their rate-hike cycle. Elsewhere, the Japanese yen rose marginally to 138.66 per dollar and remains more than 4% clear of a seven-month low it hit last month. The Bank of Japan, or BOJ, holds its monetary policy meeting next week, with investors on the lookout for whether the central bank will start phasing out its ultra-dovish policy stance.

Persons: Carol Kong, Ryota Abe, China's, Khoon Goh Organizations: greenback, U.S, Federal Reserve, Commonwealth Bank of Australia, Fed, European Central Bank, Bank of England, Bank of Japan, SMBC, Reserve Bank of Australia's, New Zealand, ANZ Locations: Asia

If we had not had homeowner's insurance, my parents would have spent thousands of dollars per storm just fixing the essential parts of our house. After living through many hurricanes, here are three times when homeowner's insurance helped my family's finances stay afloat after a storm hit us hard. Most homeowner's insurance policies cover damage caused by wind. See Insider's guide to what homeowners insurance covers »2. Our homeowner's insurance policy didn't cover flood damage.

Persons: we'd Organizations: Service Locations: Florida, Wall, Silicon

The amorphous lag explains the cat-and-mouse game between the Fed and markets that has played out since the central bank began its tightening cycle last year. For their part, markets have long expected the Fed to quickly pivot to a pretty aggressive series of rate cuts, largely to counter the accumulated lag effects of the tightening cycle. Taken at its most literal level, the 500 basis points of tightening since March 2022 - 17 months ago - have still not registered at all. There is a growing body of opinion that the lags have shortened considerably since Friedman shared his 'long and variable' theory. Reuters ImageData on Wednesday showed that consumer prices rose at an annual rate of 3.0% in June, down from 4.0% in May.

Persons: Keen, Milton Friedman, Friedman, Christopher Waller, Phil Suttle, Jamie McGeever, Paul Simao Organizations: Fed, Kansas City Fed, Reuters, Thomson Locations: ORLANDO, Florida, U.S

☆ Fed's Logan says more rate hikes needed amid unexpected economic strength
▼ + stars: | 2023-07-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

Logan is a voting member of the rate-setting Federal Open Market Committee this year. Officials were still worried about inflation and flagged a still strong job market, while a minority of policymakers expressed interest in raising rates at the June meeting. Logan also said that she doesn’t see anything tied to the Fed’s balance sheet drawdown affecting the Fed’s rate choices right now, and said the Treasury’s work to rebuild its cash account is unlikely to hit bank reserves, with the cash instead drawn from the Fed's reverse repo facility. Logan said after her formal remarks that she was surprised markets expect a sooner end to the balance sheet drawdown than she bets is likely. Reporting by Michael S. Derby Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Lorie Logan, ’, ” Logan, ”, Logan, Jerome Powell, John Williams, it’s, “, Michael S, Nick Zieminski Organizations: YORK, Federal Reserve Bank, Dallas, Columbia University, , New York Fed, Fed, Thomson Locations: ,

☆ Bank of Japan deputy governor Uchida vows to keep yield control for now, Nikkei reports
▼ + stars: | 2023-07-06 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

Summary BOJ 'strongly acknowledges' side-effects of YCC - UchidaUchida rules out chance of early end to negative ratesJapan seeing signs of change in corporate behaviour - UchidaTOKYO, July 7 (Reuters) - Bank of Japan (BOJ) Deputy Governor Shinichi Uchida said the central bank will maintain its yield curve control policy from the perspective of sustaining ultra-loose monetary conditions, the Nikkei newspaper reported on Friday. With inflation exceeding its 2% target for more than a year, markets are simmering with speculation the BOJ will tweak yield curve control (YCC) - a policy that guides short-term interest rates at -0.1% and caps the 10-year bond yield around 0%. Uchida said the BOJ "strongly acknowledges" the side-effects of YCC such as the impact on market function, according to Nikkei. But the central bank must support the economy amid recent signs of change in corporate wage and price-setting behaviour, Uchida was quoted as saying. Reporting by Leika Kihara; Editing by Leslie Adler and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Uchida Uchida, Uchida TOKYO, Shinichi Uchida, Uchida, YCC, Leika Kihara, Leslie Adler, Sandra Maler Organizations: Bank of Japan, Nikkei, Thomson Locations: Japan

☆ Fed's Powell does not rule out rate rise at coming meetings
▼ + stars: | 2023-06-28 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

June 28 (Reuters) - Federal Reserve Chairman Jerome Powell reiterated Wednesday that more rate rises likely lie ahead for the central bank, and did not rule out a boost in the cost of borrowing at a policy meeting scheduled for the end of July. "We've come a long way" with rate rises, Powell said at a European Central Bank conference held in Sintra, Portugal, noting that holding off on a rate rise earlier this month was a move to take stock of how the rate hike campaign is affecting the economy. Powell said future policy actions will be driven by how the economy is performing, noting "the only thing we decided was not to raise rates at the June meeting." But even with that pause, Fed forecasts from that gathering penciled in half a percentage point worth of further rate rises, raising the question of when those increases might happen. "The least unlikely case is that we do find our way to better balance without a really severe downturn," Powell said.

Persons: Jerome Powell, Powell, we've, it's, Michael S, Chizu Organizations: Federal, European Central Bank, Fed, Thomson Locations: Sintra , Portugal, U.S

☆ Term life insurance is often best, financial advisors say — but most people buy another kind
▼ + stars: | 2023-06-27 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Supersizer | E+ | Getty ImagesHow term and permanent life insurance differLife insurance is a form of financial protection that pays money to beneficiaries, such as kids or a spouse, if a policyholder dies. Term insurance only pays out a death benefit during a specified term, perhaps 10, 20 or 30 years. By contrast, permanent insurance policies — such as whole life and universal life — offer continuous coverage until the policyholder dies. Most people just need term insurance. Carolyn McClanahan founder of Life Planning PartnersSome shoppers buy permanent life insurance for the cash value, thinking they can borrow against that cash value or use it as a retirement savings account.

Persons: They're, Marguerita Cheng, McClanahan, Carolyn McClanahan Organizations: Planning Locations: Gaithersburg , Maryland

☆ Dreaming of life on a remote island? Ireland will pay you almost $100,000 to move to one
▼ + stars: | 2023-06-22 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Moving to a remote island in Ireland could secure you a cash grant — but there are conditions. If you've ever dreamed of leaving everything behind and living on a remote island, now might be your chance. Ireland will give you a grant of up to 84,000 euros ($92,297) if you settle one of the country's coastal islands. Between 1996 and 2016, the population of the islands covered by the policy was found to have fallen by 12.8%. Improving infrastructure and increasing job opportunities, including the option for remote work, are also part of the 10-year plan, she added.

Persons: you've, —, Heather Humphreys Locations: Ireland

☆ EU Parliament delays renewable energy vote after late backlash
▼ + stars: | 2023-05-22 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

BRUSSELS, May 22 (Reuters) - The European Parliament has delayed a planned vote to approve new EU renewable energy targets, after France and other countries lodged last-minute opposition to the law last week, according to an internal email seen by Reuters. The vote in the Parliament's energy committee had been due to take place on Tuesday. The European Union is attempting to finalise a key pillar of its climate agenda - a law containing a binding goal for the EU to get 42.5% of its energy from renewable sources by 2030. Parliament had been due to hold a first vote on Tuesday, followed by a final vote in July. The EU Parliament and EU countries' approval of the law was supposed to be a formality, after negotiators from both sides agreed what was supposed to be a final deal earlier this year.

☆ US home solar installers brace for slowdown as California reform looms
▼ + stars: | 2023-04-10 | by ( Nichola Groom | ) www.reuters.com time to read: +4 min

California boasts 38% of the nation's residential solar capacity, buttressing the U.S. market's 40% surge in 2022, according to the Solar Energy Industries Association trade group. More than 1.5 million Golden State homes have solar, state data show. They and others have noted a spike in California installations this year as consumers scrambled to get systems connected before the policy change on April 15. California Solar & Storage Association Executive Director Bernadette Del Chiaro called the transition difficult. Residential solar installers are already grappling with higher interest rates that cut into the value of financed systems, and tighter available credit.

☆ Obama wants companies to strip degree requirements from more six-figure jobs to address the labor shortage
▼ + stars: | 2023-03-20 | by ( Jason Lalljee | Ethan Dodd | ) www.businessinsider.com time to read: +5 min

Former President Barack Obama said more states should drop degree requirements for government jobs. It's an example of "a smart policy that gets rid of unnecessary college degree requirements and reduces barriers to good paying jobs," Obama said on Twitter. In recent years, states have eliminated four-year degree requirements to shore up their understaffed governments, and Republican governors have led the way. Arizona and Oregon have temporarily loosened degree requirements to address a teacher shortage. Georgia and Alaska are considering dropping degree requirements to fill government vacancies as well.

Indexed universal life insurance: Another type of permanent life insurance, these flexible policies carry lifelong coverage but few guarantees. While Mutual of Omaha's term life insurance rates are average, its Guaranteed Whole Life Insurance (the company's only whole-life option) is one of the industry's cheapest insurance plans. Before beginning, be sure you have the following details:Policyholder's information (including dates of birth and death)Insurance policy numberBeneficiary's informationMutual of Omaha Life Insurance FAQsWhat is life insurance? Experienced life insurance agents can run quotes and advise you on premiums, life insurance loans, accelerated death benefits, and more. Mutual of Omaha Life Insurance Competitors New York Life InsuranceNorthwestern Mutual LifeLife Insurance Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

☆ Hundreds of Amazon employees join a new Slack channel to support the company's return-to-office policy after 'sensing the danger' of others calling for permanent remote work
▼ + stars: | 2023-02-28 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Some Amazon staff created a new Slack channel to support the company's new return-to-office mandate. The move came after thousands of employees joined a separate Slack channel opposing the RTO plan. Amazon employees are showing far more support for the Slack channel that opposes the new RTO policy. Hundreds of Amazon employees joined a new Slack channel last week that supports the company's new return-to-office policy, Insider has learned — just days after a much larger group of staff rushed to a separate Slack channel that's fighting against the RTO mandate. Still, remote work seems to have more support from Amazon employees, at least based on the number of people in each of the Slack channels.

Premiums can increase by almost 50% after an at-fault accident claim, according to an analysis by The Zebra, an insurance comparison website. If you run into a deer or other animal, your comprehensive car insurance would kick in. When you might not need to file a claimWhile filing a claim for damage caused to others is always encouraged, there are instances where you might consider not filing a claim. When your claim is less than the deductibleIf the repair cost is lower than your insurance policy's deductible, it's probably not worth filing a claim. "Even if you're not at fault, filing a claim could still increase your premium," says Cox.

☆ Demise of Biden's student loan forgiveness plan would be 'disastrous blow to Black Americans'
▼ + stars: | 2023-02-10 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

In August, when President Joe Biden rolled out his historic plan to cancel up to $20,000 in student loan debt for tens of millions of Americans, one of the policy's stated goals was "to help narrow the racial wealth gap." Shortly after the president's announcement, critics of student loan forgiveness brought a series of legal challenges against the plan, saying it was an abuse of executive authority, and soon the Biden administration had to pause its program. Legal experts say the policy faces a narrow path to survival with the court, given its conservative majority. "Not only would this be a disastrous blow to Black Americans, but to our economy as a whole — the racial wealth gap will widen, and the vicious cycle of economic inequality will continue," said Wisdom Cole, the national director of the youth and college division at the NAACP. Here are three reasons why the student loan crisis is worse for Black Americans, and why they'd especially feel the loss of loan forgiveness, experts say.

☆ Close to 1,000 migrant children separated by Trump yet to be reunited with parents
▼ + stars: | 2023-02-02 | by ( Ted Hesson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 2 (Reuters) - Nearly 1,000 migrant children separated at the U.S.-Mexico border by the administration of former President Donald Trump have yet to be reunited with their parents despite a two-year effort by President Joe Biden. The U.S. Department of Homeland Security (DHS) said on Thursday of the 998 children still separated, 148 were in the process of reunification. Biden, a Democrat, issued an executive order shortly after taking office in January 2021 that established a task force to reunite children separated from their families under Trump, a Republican and immigration hardliner, calling such separations a "human tragedy." The Trump administration split apart thousands of migrant families under a blanket "zero-tolerance" policy that called for the prosecution of all unauthorized border crossers in spring 2018. To date the task force has reunited 600 families.

With the tax-advantaged investing component of a permanent life insurance policy, life insurance is the gift that keeps giving. Life insurance is more affordable than you may thinkPerceived cost is one factor that deters people of color from buying adequate life insurance. Unfortunately, we've seen licensed life insurance agents who still tell buyers term to whole conversions are "guaranteed," or rates will stay the same in those life insurance conversions. Life insurance doesn't have to cost a pretty penny, and life insurance is constantly changing. Permanent life insurance is generally more expensive than a term life insurance policy and can vary highly based on various factors.

When purchasing a traditional life insurance policy, you ensure their financial well-being once you're gone. Buyers also choose between permanent life insurance policies, which are projected to last the entire lifespan of the person's life, and term life insurance policies which last a certain number of years. You may also pay penalties begging the question: When is it appropriate to draw from the cash value of a life insurance policy? Understanding how cash value worksPermanent life insurance policies, sometimes called cash-value life insurance, can be whole, variable, or universal life insurance. Bob Gaydos, CEO of Pendella, a life insurance company offering individual coverage to employees entirely online, puts it this way: "Permanent life insurance can be a vehicle to build wealth.

☆ Resuming student-loan payments this year without Biden's debt cancellation could be especially harmful to borrowers with auto and credit card debt, the NY Fed says
▼ + stars: | 2023-01-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Even if the Supreme Court strikes down student-debt relief, payments will likely resume this year. This could be particularly harmful for borrowers with other forms of debt, the NY Fed said. The Fed said a resumption without relief would put borrowers with other forms of debt, like credit card and auto, at increased risk of falling into delinquency. "Eligible borrowers have always had higher delinquency rates on these debts," the Fed wrote, referring to borrowers who would be eligible for Biden's student-debt relief. Borrowers just don't want to see payments resume without relief.

☆ Joe Biden's biggest successes and failures in his second year in office
▼ + stars: | 2022-12-31 | by ( Nicole Gaudiano | Brent D. Griffiths | ) www.businessinsider.com time to read: +15 min

His second year in office was marked by historic legislative achievements despite Democrats' razor-thin majority in Congress. Here are some of the highs and lows from Biden's second year:Success: UkrainePresident Joe Biden talks with Ukrainian President Volodymyr Zelenskyy outside the White House. Conservative New York Times columnist Bret Stephens in September called the "staggering gains" by Ukrainian forces "a victory for Joe Biden, too." Universal pre-K was included in a sweeping spending plan passed by House Democrats until their Senate colleagues cut that out too. Failure: InflationPresident Joe Biden arrives for an event focused on inflation and the supply chain at the Port of Los Angeles in June.

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