Boosting

California Bans Bank Fees on Declined Withdrawals, Boosting Consumer Financial Protection

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Sacramento, Calif. – A newly enacted California law, set to take effect starting January 1, aims to alleviate the financial burden on citizens by banning state-chartered banks from imposing fees on instantly declined transactions due to insufficient funds. This legislation points to a significant shift in the financial management policies intended to favor consumers, particularly those facing economic hardships. The law, known as Assembly Bill 2017, primarily targets instances where customers face penalties at ATMs or during other automatic withdrawal attempts when their bank balances fail to cover the transactions. Californians can expect some relief … Read more

Growing Number of States Embrace Pay Transparency, Boosting Job Application Rates and Promoting Pay Equity

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Washington, D.C. — A wave of legislative changes is sweeping through different states in the U.S., mandating employers to be clear about the salary ranges when they advertise job positions. As of today, Washington D.C. and thirteen states including prominent ones like California, New York, and Colorado have enacted pay transparency laws. These regulations are primarily aimed at enhancing wage equity and providing prospective employees a clearer picture of potential earnings. The trend towards salary transparency is not just confined to these states; recently, New Jersey also passed legislation and is awaiting Governor Phil Murphy’s … Read more

GSK Settles U.S. Zantac Cancer Claims for $2.2 Billion, Boosting Stock by 6%

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London – GSK’s stock soared by 6% on Thursday following the announcement that the British pharmaceutical giant has agreed to a multi-billion dollar settlement over allegations that its now-discontinued heartburn medication, Zantac, was carcinogenic. The company will pay up to $2.2 billion to resolve almost all the pending lawsuits in the United States, which is significantly lower than some financial analysts had anticipated. Previously, forecasts by entities such as JP Morgan had estimated potential liabilities to be as high as $3.5 billion. However, the settlement disclosed on Wednesday accounts for about 80,000 cases—or 93%—of the … Read more

Warren Buffett’s Berkshire Hathaway Sells Nearly $1 Billion in Bank of America Shares, Boosting Cash Reserves Amid Major Stock Movements

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Omaha, Nebraska – Warren Buffett’s Berkshire Hathaway has continued to reduce its holdings in Bank of America, with sales nearing $1 billion in recent transactions. The latest disposals involved shedding almost 25 million shares over the past week. This move is part of a broader trend that started in July, when Berkshire began divesting its shares in the bank. Despite these substantial sales, Berkshire Hathaway remains a major shareholder in the Charlotte, North Carolina-based bank, maintaining control of nearly 12% of its stock. This consistent sell-off, however, points to a strategic reshaping of Berkshire’s expansive … Read more