Tag: Finance News
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Illegal Migrants in NYC Surpass Local Homeless Population
The city currently houses approximately 50,000 migrants in temporary shelters and local hotels, while the local homeless population stands at around 49,700. New York City is facing a significant influx of illegal migrants, surpassing the number of local homeless individuals in shelters, according to NBC4 New York The surge in migrants arriving in the city…
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Over $200 Billion Potentially Stolen in COVID-19 Relief Programs, Federal Watchdog Report Reveals
The U.S. Small Business Administration (SBA) inspector general’s report emphasizes the susceptibility of the Paycheck Protection Program (PPP) and COVID-19 Economic Injury Disaster Loan (EIDL) programs to fraudsters, particularly during the early stages of the pandemic. New estimates from a federal watchdog reveal that over $200 billion may have been stolen from two major COVID-19…
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Borrowers Brace for Student Loan Payments Resuming in October, Urged to Prepare for Potential Challenges
Since the start of the COVID-19 pandemic, the Trump administration implemented a pause on student loan payments, providing relief to borrowers. Student loan borrowers are being advised to prepare for the resumption of payments in October, which could be a challenging experience for millions of people However, this pause will end soon, and borrowers need…
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New California Bill To Expand Affordable Housing For Low-Income Families Amidst Increasing Homelessness Rates
A new California bill will expand relief for affordable housing for low-income families amidst the increasing homelessness rates in the state. California Bill Will Provide More Funding for Low-Income Housing to Combat Homelessness Crisis With the increasing homelessness rates in the state, a new California bill aims to provide more affordable housing for low-income families,…
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GOP Criticizes Biden Administration for Sending $28 Million to UN Climate Fund
House Foreign Affairs Committee Chairman Michael McCaul, a Texas Republican, has raised concerns over the Biden administration’s decision to transfer $28 million to the United Nations Green Climate Fund. GOP Lawmakers Criticize Biden Administration for $28 Million Transfer to UN Climate Fund, Citing Oversight Concerns and Funding to China McCaul argues that the transfer lacks…
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SBA Management Receives Criticism After Disbursing Over $200 Billion Amidst Pandemic Loan Fraud
The SBA management received criticism after disbursing over $200 billion amidst the pandemic loan fraud. Inspector General Reveals SBA Management Disbursed More Than $200 Billion In Potential COVID-19 Loans Fraud The Inspector General of the Small Business Administration Office revealed a report that stated the Small Business Administration (SBA) management disbursed more than $200 billion…
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Business Owners Urge President Biden To Expand Permission For Migrants To Work In Florida Amidst Labor Shortages
Business owners urged President Joe Biden to expand the permission for migrant workers in Florida amidst labor shortages. Business Owners in Florida Call to Expand Immigration Permits for Migrants to Work Following Labor Shortages With the increasing labor shortages in Florida, business owners urged the Biden administration to expand immigration permits for migrants to work…
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Maryland Residents To Receive SNAP Benefits Of Up To $1,691 In July – Check Eligibility Here!
Eligible residents in Maryland will expect to receive SNAP benefits of up to $1,691 in July. Hundreds of Residents in Maryland Will Receive SNAP Benefits of Up to $1,691 in July Almost 800 thousand eligible residents in Maryland will expect to receive their Supplemental Nutrition Assistance Program (SNAP) benefits from July 4 until July 23,…
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FedNow’s Faster Payments Initiative Poses Risks and Opportunities for Banks, Says Moody’s Analyst
The upcoming launch of the Federal Reserve‘s FedNow instant-payment system in July could have both positive and negative implications for banks, particularly smaller ones, according to Moody’s analyst Stephen Tu. FedNow will provide consumers and businesses with faster payment capabilities and increase competitiveness for smaller banks, it may also lead to potential risks and challenges…
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State Sales Tax Revenue Surges to $3.8 Billion in May, Indicating Strong Economic Growth
This substantial figure indicates a significant economic boost for the state during that month. May saw a notable increase in tax revenue generated from state sales, with a staggering $3.8 billion reported The rise in tax revenue reflects a surge in consumer spending, demonstrating a growing confidence in the economy. Experts attribute this positive trend…