>>Biden Admin Takes Aim At Junk Fees
(Washington, DC) -- The Biden administration is cracking down on junk fees. In a meeting with his Competition Council, Biden announced a proposed rule that would slash excessive credit card late fees. The President said the rule is estimated to cut typical late fees from an average of about 30-dollars to eight-dollars, saving Americans as much as nine-billion a year. He also called on Congress to pass the Junk Fee Protection Act which would slash hidden fees across the travel, entertainment, utility and hospitality industries.
>>Report: Hackers Stole As Much As $3.8 Billion In Crypto Last Year
(New York, NY) -- Hackers stole nearly four-billion dollars worth of cryptocurrency last year. That's according to the New York-based company Chainalysis which put the number at as much as three-point-eight-billion. It says October was a particularly brutal month. That's when about 776-million bucks was stolen by hackers in nearly three dozen attacks.
>>McDonald's Against Minimum Wage Hike
(Sacramento, CA) -- McDonald's CEO says it may be impossible to operate in California after passage of fast food worker protections. The FAST bill, or Fast Food Accountability and Standards Recover Act, passed in late 2022 and could force fast-food restaurants to pay employees up to twenty-two-dollars an hour. Industry leaders like McDonald's U.S. President Joe Erlinger say that would make it "all but impossible to run small business restaurants." He added that paying fast-food workers that wage could raise the cost of eating at McDonald's by as much as 20-percent. The bill has been blocked until a referendum vote which is scheduled for November.
>>SBF's Bail Tightened After Texting Potential Witnesses
(New York, NY) -- Sam Bankman-Fried appears to be talking himself into a potential hole. A federal judge has amped up the FTX founder's bail conditions after seeing a text message he sent to another top executive. The judge said it threatened "inappropriate contact with prospective witnesses." Bankman-Fried is now barred from contacting any current or former FTX employees without attorneys.
>>Pinterest Announces 150 Layoffs
(San Francisco, CA) -- Pinterest is cutting its workforce to reduce costs, informing about 150 employees on Wednesday that they'll be losing their jobs. Pinterest said it will support those workers with separation packages, benefits, and other services. The job cuts amount to less than five-percent of the San Francisco-based company's workforce.
