>>Credit Card Late Fees Capped At Eight Dollars
(Washington, DC) -- Credit card late fees are now capped at eight dollars. It's a part of a larger initiative by the Biden administration to get rid of junk fees. The Consumer Financial Protection Bureau estimates the new regulation will save families more than ten-billion-dollars a year. It applies to large credit card issuers with more than a million accounts, which represent more than 95-percent of total outstanding credit card debt. This comes as the White House tries to show it's taking action to help families with the high cost of living. The CFPB has also proposed a rule to stop excessive overdraft fees.
>>A.I. Being Integrated Into Workplace Software
(New York, NY) -- Monitoring employee communications isn't new, but the sophistication of analysis is getting an upgrade all thanks to A-I. AI is being integrated into common work-related software like Slack, Zoom, Microsoft Teams and Meta's Workplace platform. Starbucks, Chevron, Walmart, and Delta have all started using AI products designed to pick up everything from bullying and harassment, to cyberattacks and insider trading. Data stays anonymous until the tech finds instances that it's been asked to highlight. Experts say that while AI tools might be new, watching, reading and tracking employee conversations is far from novel.
>>Former Twitter Executives Sue Elon Musk, X Corp.
(San Francisco, CA) -- Four former Twitter executives are suing Elon Musk and the social media company over unpaid severance pay. The group that includes Twitter's former CEO, CFO, head of legal and general counsel argue they are owed 128-million dollars from Musk and X Corp. In the lawsuit, the former executives claim Musk took revenge against them after being backed into buying Twitter for 44-billion dollars by "repeatedly refusing to honor other clear contractual commitments." They added that Musk and the company have been "stiffing employees, landlords, vendors and other" since taking over the social media giant. The lawsuit comes after it was reported last week that settlement talks broke down in a similar lawsuit filed by ex-Twitter workers over 500-million dollars in unpaid severance.
>>Bitcoin Surge Attributed To SEC Approval
(Washington, DC) -- Bitcoin hit at an all-time high on Tuesday. This comes after the SEC approved the exchange-traded funds that hold the cryptocurrency back in January. The SEC's approval led to a cash infusion after lending legitimacy to the digital assets. The cryptocurrency is over 68-thousand-and-800-dollars for the first time since November 2021. It's more than tripled since January 2023, when it was trading under 20-thousand-dollars.
>>Dodge Continues Charger, Challenger Lines
(Detroit, MI) -- Dodge is going to keep its Charger and Challenger models going with both gas and electric versions. The automaker announced in 2022 that production of the cars would stop, but sales of electric vehicle have been slower than expected. The first EV versions are expected to go on sale before the end of the year, with gas-powered cars hitting the market in 2025.
>>New Orders For Manufactured Goods Declines In Jan
(Washington, DC) -- New orders for manufactured goods declined for the second straight month in January. The Commerce Department reported a 21-billion-dollar decrease for the month following December's slight decline. Unfilled orders increased just over two-billion dollars in January. Inventories of manufactured durable goods rose for the six straight month with transportation equipment driving much of the increase.
