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Borrowers could face state tax bills on forgiven student loans
NEWS REGULATION AND LEGISLATION AUG 29, 2022
Borrowers could face state tax bills on forgiven student loans

Thirteen states have tax laws that would treat forgiven debt as income, meaning it's subject to state levies on earnings.

UBS dumped from Texas municipal bond deal
INVESTING FIXED INCOME AUG 29, 2022
UBS dumped from Texas municipal bond deal

The bank won’t be part of the underwriting syndicate for transaction after state Comptroller Glenn Hegar included UBS on list of firms he deems “boycott” the fossil-fuel industry.

Powell warns rates will stay high for some time
NEWS REGULATION AND LEGISLATION AUG 26, 2022
Powell warns rates will stay high for some time

The Federal Reserve chair pushed back against the notion that the central bank would soon reverse course.

Loan forgiveness unlikely to dramatically swell inflation, say economists
NEWS REGULATION AND LEGISLATION AUG 25, 2022
Loan forgiveness unlikely to dramatically swell inflation, say economists

Student loan forgiveness will diffuse through the economy, blunting its direct impact.

Goldman rethinking consumer unit's online checking feature
YOUR PRACTICE FINTECH AUG 24, 2022
Goldman rethinking consumer unit's online checking feature

Goldman has been straining to prepare a feature that would let users set up direct deposits and pay their bills online, but it's constrained by the accelerating losses on its online platform, Marcus.

Biden to forgive $10,000 in student debt
NEWS REGULATION AND LEGISLATION AUG 24, 2022
Biden to forgive $10,000 in student debt

The plan would set a $125,000 income cap for individuals and $250,000 for households, and would provide up to $20,000 in loan forgiveness for those who also received Pell Grants.

Offshore loophole helps Americans evade taxes, Senate report says
NEWS REGULATION AND LEGISLATION AUG 24, 2022
Offshore loophole helps Americans evade taxes, Senate report says

Setting up shell companies abroad and registering them with the IRS as offshore financial institutions lets Americans sidestep FATCA, according to the report.

Hedge fund guru Julian Robertson dies at 90
INVESTING ALTERNATIVES AUG 23, 2022
Hedge fund guru Julian Robertson dies at 90

The billionaire founder of Tiger Management became one of his generation's most successful hedge fund managers and a mentor to a wave of investors known as Tiger Cubs.

Free trading costs retail investors $34 billion a year, study says
INVESTING EQUITIES AUG 23, 2022
Free trading costs retail investors $34 billion a year, study says

An academic study finds retail stock trades are getting done at significantly different prices, depending on the brokerage.

Cheap ETFs suck billions from bigger siblings
INVESTING MUTUAL FUNDS AUG 22, 2022
Cheap ETFs suck billions from bigger siblings

The world's largest ETF, the $387 billion SPDR S&P 500 Trust, continues to fall victim to the trend as money managers gravitate to its lower-cost clone.