Millions of people live in areas where auto insurance is unaffordable, a replacement for the Affordable Care Act might be more complex than the existing law and Wells Fargo faces scrutiny for mortgage practices.
Already under fire for its fake accounts scandal, a ProPublica investigation found that, according to four former employees, Wells Fargo & Co. improperly charged interest-rate extension fees when mortgage paperwork got delayed. Those delays were generally the bank's fault, but management compelled lower-level staffers to blame the customers, the employees claimed.
Washington and Lee University of Law emeritus professor and healthcare expert Timothy Jost sees a potential replacement for the Affordable Care Act as being more complex than the existing health reform law. The measure, which is being put forth by four Republican senators, seeks to use three approaches to replace the ACA's mandate. Were it actually passed, it would need a much longer transition period than the Jan. 1, 2018, deadline that the bill envisions.
In a world where apps can alert investors when President Donald Trump tweets about stocks they own, it pays to focus on reality, Stephen Foley wrote in the Financial Times. Bets against bonds issued by several health insurers and hospital companies pushed prices down after Trump's election, but investors who focused on the real-world difficulty of repealing and replacing the ACA ended up making good profits.
Nearly 19 million people reside in areas rife with unaffordable auto insurance, according to a January report from the Treasury Department's Federal Insurance Office. The report evaluated insurance premiums for basic liability coverage in more than 9,000 zip codes across the country lined with high percentages of residents with low to moderate incomes, The New York Times reported. In five states, including New York, premiums were deemed unaffordable for those populations in more than half of the zip codes statewide.
Less than three weeks after searching the apartment of a Brazilian national implicated in connection with TelexFree's alleged $3 billion fraud scheme, officials from the U.S. Attorney's Office in Boston posted an image of the seized cash stashed in the suspect's box spring on Twitter. Facing one count of conspiracy to commit money laundering, Cleber Rene Rizerio Rocha is serving as a cooperating witness for the government, MarketWatch reported.
Rebuffed by investors following an appearance on ABC's Shark Tank in 2013, Ring CEO Jamie Siminoff used the slight as motivation in his quest to raise millions for his company. According to Business Insider, Siminoff partook in a serious undertaking to refurbish the image of his company, which manufactures video doorbell devices meant to deter home intruders. Ring, which now sells products in about 100 countries, has completed a $109 million round of fundraising from investors that included Goldman Sachs Group Inc.