Bhinneka News Online: Your Money: Uncertain future for those counting on medical deductions

Wednesday 22 November 2017

Your Money: Uncertain future for those counting on medical deductions

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Wednesday, November 22, 2017

Your Money: Uncertain future for those counting on medical deductions

NEW YORK (Reuters) - At a retirement community near Chicago, Jay Schachner and his friends are nervously awaiting the fate of their medical expenses amid U.S. tax overhaul.

Your Money: Gear up for a big year of giving

CHICAGO (Reuters) - If proposed tax overhaul changes are adopted, giving to charity for tax reasons will no longer be as valuable for most people as it is this year.

Citi hit with $6.5 million in U.S. fines over student loans

WASHINGTON (Reuters) - The U.S. Consumer Financial Protection Bureau (CFPB) said on Tuesday it had ordered Citibank to pay $6.5 million for allegedly harming borrowers with student loan servicing failures.

Paris watchdog win bolsters its fight for Brexit banks

PARIS/LONDON (Reuters) - The surprise decision to move the European Banking Authority to Paris will boost its chances of attracting London banks after Brexit, French officials said on Tuesday.

FINRA fines JPMorgan $1.25 million for failures in employee background checks

NEW YORK (Reuters) - The Financial Industry Regulatory Authority said on Tuesday it fined JPMorgan Chase & Co's securities division $1.25 million for failing to conduct adequate background checks on 8,600 employees, including four people whose criminal convictions automatically disqualified them from working there.

Hong Kong tribunal fines HSBC private bank $51 million for Lehman-linked products

HONG KONG (Reuters) - A Hong Kong tribunal on Tuesday imposed a record fine of HK$400 million ($51 million) on the private banking unit of HSBC in a case related to the sale of Lehman Brothers-linked structured financial products between 2003 and 2008.

Rising Medicare costs leave many U.S. seniors with a flat COLA

CHICAGO (Reuters) - Millicent Graves will get a raise from Social Security next year, but her household budget will get worse, not better.

Economist Dan Ariely has a fix for our financial foibles

NEW YORK(Reuters) - No offense, but you are probably dumb with money.

Prospect of post-Brexit boom sparks worry as well as celebration in Frankfurt

FRANKFURT (Reuters) - The prospect of bankers pouring into Frankfurt from post-Brexit Britain has worried local residents anxious about the effect on an already dire housing shortage but also energized leftist groups looking to advance their anti-capitalist ideology.

Global banks flag concerns over U.S. Senate tax proposal

WASHINGTON (Reuters) - Global banks raised concerns on Friday over a provision in the U.S. Senate tax bill aimed at cracking down on tax avoidance by multinational corporations that they said could hurt the banking industry.