The New York Metropolitan Transportation Authority Board recently granted approval for the agency to refund its outstanding Build America Bonds, potentially redeeming as much as $3.73 billion of taxable paper. This decision comes amidst financial struggles for the authority and uncertainties surrounding its congestion pricing plan. Financial Implications The potential refunding of the MTA’s taxable
Legal
The Consumer Financial Protection Bureau (CFPB) announced on Wednesday that customers of the growing buy now, pay later (BNPL) industry must follow the same federal protections as credit card users. The agency introduced an “interpretive rule” categorizing BNPL lenders as traditional credit card providers under the Truth in Lending Act. This means that companies like
Chinese authorities have recently announced new measures to support state-owned enterprises in buying unsold apartments, aimed at providing more funding for developers to complete construction on pre-sold properties. This support marks Beijing’s latest effort to address issues in the massive real estate sector. The central bank of China has pledged to provide 300 billion yuan
Many state and local governments are currently facing a legal battle regarding the redemption or refunding of their Build America Bonds (BABs). These bonds, which were authorized as part of a stimulus program during the Obama administration, allowed issuers to sell taxable bonds and receive a subsidy from the federal government on the interest rates
As the value of homes continues to rise, more and more Americans are finding themselves facing capital gains taxes when selling their property. The Section 121 exclusion provides a shield of up to $250,000 for single filers and $500,000 for married couples filing jointly. However, recent data indicates that a growing number of home sales
The recent fall in Bitcoin prices highlights the impact of regulatory scrutiny on the cryptocurrency market. Despite a brief rebound over the weekend, Bitcoin prices dropped as concerns over increased regulation intensified. Traders remained cautious about entering the market, leading to a 1.5% dip in Bitcoin’s price to $62,523.2. This volatility underscores the vulnerability of
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