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The Consumer Financial Protection Bureau finalized rules on Thursday that would cap how much banks can charge their customers for overdrawing their checking accounts, potentially crushing a lucrative source of revenue for the industry that has long been a source of customer complaints. The move drew a rebuke from trade groups and could face a quick repeal under the Trump administration. The new regulation, first proposed earlier this year, would require large banks and credit unions to either charge just $5 for overdrafts or, alternatively, pick an amount no higher than the cost of offering overdraft protection. Today, banks commonly charge $30 to $35 on overdrafts. Banks that want to continue charging more would be required to treat overdraft protection fees similarly to credit cards and other loan products by offering more disclosures about their costs while hewing to additional stringent regulations. "For far too long, the largest banks have exploited a legal loophole that has drained billions of dollars from Americans' deposit accounts," CFPB Director Rohit Chopra said in a statement. "The CFPB is cracking down on these excessive junk fees and requiring big banks to come clean about the interest rate they're charging on overdraft loans.” Banks have long maintained that overdraft protection — which allows customers to draw their balance below zero in return for a fee — serves as a helpful, last-minute source of credit for people facing a cash crunch or an emergency expense. But consumer advocates have criticized the charges as a predatory tool for scraping profits off lower-income customers. While individuals are required to opt in to the services, a 2023 Pew poll found that 71% of Americans felt a $35 fee was unfair (75% said a $10 fee would be fine). The CFPB has taken aim at overdrafts as part of the Biden administration’s “junk fee initiative,” which has sought to crack down on nickel-and-dime charges on everything from concert tickets to credit cards. In September, the agency issued guidance aimed at stopping banks from using “phantom” opt-in agreements, where they charge overdrafts without obtaining proof of consent. It has also forced them to refund hundreds of millions of dollars in nonsufficient fund fees, which are charged to customers who accidentally try to overdraw their accounts and are rejected. Some banks have responded to the pressure from regulators and consumers by voluntarily cutting back on overdraft fees. Bank of America, for instance, lowered its charges from $35 to $10 in 2022. In 2023, banks collectively earned $5.83 billion in revenue off overdraft and nonsufficient fund fees, down from nearly $12 billion in 2019. The CFBP’s new rules, which would apply to institutions with at least $10 billion in assets, stand to knock those numbers down further. The agency has estimated its fee cap would save Americans up to $5 billion annually. Banking industry groups have argued, however, that the agency does not have the legal authority to regulate overdraft plans under the statute it is relying on, the Truth in Lending Act. On Thursday, American Banking Association president Rob Nichols said the regulation was “yet another example of the CFPB’s willingness under Director Chopra to exceed its congressionally mandated guardrails” and appeared to hint at the possibility of legal action. “We will closely review the final rule with our members and consider all options going forward,” he said. “It should not be allowed to go into effect.” Capitol Hill Republicans could also attempt to scrap the rule next year when Donald Trump takes office using the Congressional Review Act, which allows lawmakers to repeal recently issued rules. GOP members of the House Financial Services Committee criticized the rule when it was proposed in January, saying in a statement that it would “further reduce access to the short-term liquidity products that millions of Americans rely on to help make ends meet.” Jordan Weissmann is a senior reporter at Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices Read the latest financial and business news from Yahoo FinanceMaster plan:10 acres earmarked land is meant for augmentation of health infraJuan Soto introduced by Mets at Citi Field after striking record $765 million, 15-year deal NEW YORK (AP) — Juan Soto put on a New York Mets jersey and cap for the first time after his record $765 million, 15-year contract was finalized and talked about what made the difference in his decision. He said at his introductory news conference on Thursday that the Mets “showed me a lot of love." Soto was introduced at Citi Field a day after his deal was finalized. Speaking in the Piazza 31 Club, Soto was flanked by Mets owner Steve Cohen, president of baseball operations David Stearns and his agent, Scott Boras. Bill Belichick 'always wanted' to give college coaching a try. Now he will at North Carolina New North Carolina football coach Bill Belichick said he had long been interested in coaching in the college ranks. But it had never worked out until now, as he takes over the Tar Heels program. Belichick led the New England Patriots to six Super Bowl titles during a 24-year run there that ended last year. Belichick's five-year deal pays him $10 million in base and supplemental salary per year. It is guaranteed only for the first three years, including for buyout purposes. There is also up to $3.5 million in annual bonuses. Wander Franco's sex abuse trial has been postponed 5 months PUERTO PLATA, Dominican Republic (AP) — The trial against Tampa Bay Rays shortstop Wander Franco, who has been charged with sexually abusing a minor, sexual and commercial exploitation against a minor, and human trafficking, has been postponed until June 2, 2025. Dominican judge Yacaira Veras postponed the hearing Thursday at the request of prosecutors because of the absence of several key witnesses in the case. Franco’s lawyers asked the court to reconsider the postponement, arguing Franco must report to spring training in mid-February. The judge replied that Franco is obligated to continue with the trial schedule and his conditional release from detainment. Rape investigation that Swedish media say focused on Kylian Mbappé has been closed STOCKHOLM (AP) — Swedish prosecutors say they have dropped a rape investigation that was launched in connection with soccer star Kylian Mbappé’s visit to Stockholm in October. In a statement, lead investigator Marina Chirakova says there is not enough evidence to continue the investigation into the allegation at a hotel. Prosecutors never publicly named the suspect in the investigation but some Swedish media reported it was Mbappé. The Real Madrid striker visited Stockholm in October during a break in the Spanish league. At the time, Mbappé’s legal team dismissed those reports as false. Travis Hunter, the 2-way standout for Colorado, is the AP college football player of the year BOULDER, Colo. (AP) — Colorado two-way standout Travis Hunter is The Associated Press college football player of the year. Hunter received 26 of the 43 votes from a panel of AP Top 25 voters. Boise State tailback Ashton Jeanty finished second with 16 votes, and Arizona State running back Cameron Skattebo received one vote. A throwback player who rarely left the field, Hunter had 92 catches for 1,152 yards and 14 touchdowns as a receiver. He had four interceptions and 11 passes defensed as a shutdown corner. Hunter helped the the 20th-ranked Buffaloes to a 9-3 record and an appearance in the Alamo Bowl against BYU. 2034 World Cup visitors will live in 'a bubble' and not see real life, Saudi rights activist says LONDON (AP) — A Saudi human rights activist says soccer fans visiting Saudi Arabia for the 2034 World Cup will live in a “bubble” that doesn't reflect real life there. Lina al-Hathloul is a London-based activist whose sister was jailed in Saudi Arabia then banned from travel after campaigning to end a ban on women driving. When FIFA confirmed the kingdom as the 2034 tournament host on Wednesday its president Gianni Infantino acknowledged “the world will be watching” for positive social change. Al-Hathloul says western people “will be very safe” at the World Cup but "will see a bubble of what Saudi Arabia is.” Team claims NASCAR rescinded approval to buy new charter unless federal antitrust suit is dropped CHARLOTTE, N.C. (AP) — A new court filing says NASCAR rejected Front Row Motorsports’ agreement to purchase a charter from Stewart-Haas Racing unless the team and 23XI Racing dropped their federal antitrust lawsuit against the stock car series. Front Row and 23XI rejected NASCAR's new revenue sharing agreement and have gone to court. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. Indian teen Gukesh Dommaraju becomes the youngest chess world champion after beating Chinese rival NEW DELHI (AP) — Indian teenager Gukesh Dommaraju has become the youngest chess world champion after beating the defending champion Ding Liren of China. Dommaraju, 18, secured 7.5 points against 6.5 of his Chinese rival in Thursday's game which was played in Singapore. He has surpassed the achievement of Russia’s Garry Kasparov who won the title at the age of 22. Dommaraju is now also the second Indian to win the title after five-time world chess champion Viswanathan Anand. The Indian teen prodigy has long been considered a rising star in the chess world after he became a chess grandmaster at 12. He had entered the match as the youngest-ever challenger to the world crown after winning the Candidates tournament earlier this year. Hojlund scores twice for Manchester United to beat Viktoria Plzen 2-1 in Europa League Rasmus Hojlund scored twice after coming off the bench and Manchester United rallied to beat Viktoria Plzen 2-1 in the Europa League. The Denmark striker netted in the 88th minute after collecting Bruno Fernandes’ pass off a free kick to seal the victory. Ahead of the late games, United moved to fifth place with 12 points from six games. Hojlund came on in the 56th to replace Marcus Rashford and scored an equalizer six minutes later. In the Conference League a youthful Chelsea lineup made the most of a long trip to Kazakhstan by beating Astana 3-1 to stay perfect in the third-tier competition. NFL world reacts with excitement, surprise, questions after Bill Belichick is hired to coach UNC Bill Belichick is already the most decorated coach in NFL history. His next challenge is college football after he agreed to a five-year deal to coach at North Carolina. The reaction around the NFL ranged from excitement at seeing him back on the sideline to disbelief. Some of his former players believe his skill set will work at any level. Others caution that the players he brings into UNC should prepare to have their limits tested.winph99 login 。

NoneAP Business SummaryBrief at 4:06 p.m. EST

QUEBEC CITY, Canada, Dec. 12, 2024 (GLOBE NEWSWIRE) -- LeddarTech ® Holdings Inc. (“LeddarTech”) ( Nasdaq: LDTC ), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision TM, for ADAS, AD and parking applications, is pleased to announce that it will host an Investor and Business Update conference call and webcast on December 18, 2024 at 8:00 a.m. EST. Frantz Saintellemy, President and Chief Executive Officer, and Chris Stewart, Chief Financial Officer, will be participating in the call. The conference call can be accessed in the U.S. by dialing (646) 307-1963 and via (800) 715-9871 for international callers. The conference ID is 1293674. Interested parties may also register for the live webcast , which will be archived on LeddarTech’s Investor Relations website following the event. About LeddarTech A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions. LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution. Additional information about LeddarTech is accessible at www.LeddarTech.com and on LinkedIn , Twitter (X) , Facebook and YouTube . Contact: Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com Investor relations website: investors.LeddarTech.com Investor relations contact: Kevin Hunt, ICR Inc. kevin.hunt@icrinc.com Financial media contact: Dan Brennan, ICR Inc. dan.brennan@icrinc.com Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners. LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”TSLA Stock Surge! Game-Changer or Flash in the Pan?Immigration Minister Tony Burke and Prime Minister Anthony Albanese (Image: AAP/Mick Tsikas) Though it is unimaginable today, the border between the United States and Mexico remained relatively open until the 1960s. Migrants from Mexico travelled across it in their thousands, engaging in seasonal and cyclical work, returning to their families at the end of every season, or when the rhythms of life required it. From the 1960s onwards, a wave of protectionist sentiment propelled the introduction of laws and policies to regulate movement across the southern border. Yet research shows that the measures had little overall impact on the numbers of people making the newly illegalised journey. By that point, Mexican workers had become part of their communities in the US and seasonal migration had become a fact of life in both places. What the restrictions achieved instead was the creation of a large and ever-growing population of undocumented Mexican workers, barred from acting on their rights and easier for employers to exploit because they wielded the threat of state-enforced deportation. Then, just as now, there is no necessary correlation between the anti-migrant rhetoric of governments and overall migration numbers. That is because migration restrictions always serve dual purposes : to exclude and repel some, while ensuring the unequal inclusion of the vast majority. The same lens can be applied in Australia to Labor’s populist attempts at reducing migration intake. Take for example the much-publicised cap on international student numbers. Adjustments to planning levels have already limited the yearly student intake to 270,000. The Albanese government’s attempt to legislate that cap was intended to provide it with a firm legal basis, as well as an opportunity for political grandstanding. Voters know the benefits of migration and want cuts anyway. And they’ll get what they want Read More But in real terms, the cap simply pins student intake to the pre-pandemic high point. Commentators have noted that it also operates based on opaque calculations , which exclude students in certain sectors from the count. Perhaps more to the point, the cap operates alongside the expansion of new and existing temporary visa programs, like the PALM Scheme for workers from the Pacific, or the lamentably named MATES visa for Indian graduates. Whether restrictions on student visas will reduce temporary migration levels over the long run remains to be seen. The most immediate, tangible effect of the cap will be to enforce a state of perpetual limbo on temporary migrants already in Australia. Enforced through planning levels, the cap will mean that student visa applications are endlessly deferred rather than refused, leaving applicants in the lurch on provisional bridging visas, subject to restrictions on their ability to work. Holders of bridging visas face some of the toughest conditions at work. They are locked out of the formal economy because of their precarious status, and pushed into the care and service sectors where wage theft and unsafe conditions are industry norms. The ability of bridging visa holders to enforce their rights is also curtailed by the prevailing political environment, in which temporary migrants are blamed for any number of social and economic ills , from housing pressures to inflation. The way out of this political cul-de-sac is not by convincing voters in the abstract of the “benefits” of migration or by appealing to their benevolence. It is by convincing ordinary working people that immigration restrictions harm them by undermining the conditions of their colleagues on visas, and safeguarding their boss’ supply of exploitable, disposable labour. There are nearly 3 million temporary migrants in Australia at present, constituting nearly 10% of the working population . For most of us, temporary migrants are part of our workplaces — and part of our lives. Compassion is no substitute for a common cause. This is what we saw at the recent Woolworths picket, as 1,500 workers, including many on temporary visas, went on strike against the largest supermarket chain in the country. A strike kitchen was set up by refugees on bridging visas as a gesture of solidarity for union members who supported their hundred-day encampment in front of the Department of Home Affairs offices earlier this year. Becoming distracted by sleight-of-hand changes to migration levels or the reduction of rights for some will ultimately undermine the living conditions of us all. Have something to say about this article? Write to us at letters@crikey.com.au . Please include your full name to be considered for publication in Crikey’s Your Say . We reserve the right to edit for length and clarity.

MLB NOTES

Seventh-seeded Mizzou volleyball lost to SEC rival and No. 3 seed Kentucky 3-1 (25-20, 25-20, 16-25, 25-13) on Thursday in the Sweet 16 of the NCAA Tournament, ending the Tigers' 2024 season. The biggest challenge for Mizzou during the regional semifinal was putting a defensive stop to Kentucky sophomore outside-hitter Brooklyn DeLeye. DeLeye had a strong performance, ending the match with 22 kills, three service aces and six digs. After MU was handed losses in the first two sets, Mizzou Coach Dawn Sullivan told her squad to "play our volleyball." The Tigers responded in the third set with adjustments at the service line, focusing more on putting the ball in the back row of the Wildcats' defense. The Tigers went on a 8-0 tear with senior libero Kiaraliz Perez Catala serving the ball at the line. Catala surpassed 50 service aces this season during the third set of the match, ending the game with three, all during that run. "We've seen how capable Missouri is on beating top-10 teams, and, you know, they made adjustments," Kentucky volleyball Coach Craig Skinner said in a postgame news conference. During this momentum-building third set, Mizzou right-side hitter Jordan Iliff was putting up a strong offensive effort, effectively using the Kentucky block against it to extend the Tigers' lead. Iliff ended the third set with a 17 kills in the game and a hitting percentage of .400. She finished the game with 20 kills, two service aces and nine digs. "She's unstoppable," ESPN broadcaster Anne Marie Anderson said of Iliff during the third set of the match. However, Kentucky, the SEC regular-season champ, would shut down the Tigers' offense in the fourth and final set, going on a 5-2 scoring run to force Sullivan to take a timeout with the Wildcats leading 12-6. Kentucky's blockers were aggressive toward outside-hitter Mychael Vernon, who was held to just one kill and six errors in Set 4. After the loss, Vernon took to social media reflecting on her final season playing college volleyball as a Tiger. "So proud of this team," Vernon said on an Instagram story following the game. "Couldn't have had a better last year. M.I.Z." The loss eliminates Mizzou from the NCAA Tournament after its fifth Sweet 16 appearance in program history. The Tigers fell in four of those in the regional semifinals, advancing to an Elite Eight only once, in 2005. Throughout their season, the Tigers were a strong Southeastern Conference competitor, ending with a record of 22-9 overall and 11-5 in the SEC. In the other NCAA Tournament Pittsburgh Regional semifinal, No. 1 overall seed Pitt survived a scare from No. 4 seed Oregon, winning in five sets (25-19, 24-26, 25-16, 21-25, 15-12). The host Panthers take on Kentucky for a trip to the Final Four at 4 p.m. Saturday in Pittsburgh.Autodesk appoints Janesh Moorjani as chief financial officer