A financial-assurance rule by the Environmental Protection Agency might allow third-party claims on surety bonds and other financial instruments of hard-rock miners. Sureties have told the EPA that the rule could lead to unreasonable risk, and experts say it could increase the cost of bonds.
A contractor says transportation officials violated Delaware law by reviewing the contractor's bid for a bicycle and pedestrian trail without confirming a required bond accompanied the bid. A judge has suspended the project while lawyers determine whether a bond was included with the bid, which officials have rejected.
When the Federal Reserve met in July, eight of the 12 regional banks voted to raise the discount rate, the interest rate the central bank charges for loans to commercial banks, from 1% to 1.25%, minutes show. While the Fed left the rate at 1%, the vote marks the first time that a majority of the regional banks favored raising the discount rate since the central bank raised the benchmark federal funds rate in December.
The Labor Department's fiduciary rule applies in different ways to education and retirement advice, but finding the fine line between the two can be difficult, industry experts say. Providers of retirement planning tools who believe they can continue to offer them as education under the rule without making changes may be mistaken, said David Levine, a lawyer with the Groom Law Group.
It is never too early to begin educating children about personal finance, experts say. Setting a good example and repetition are keys to teaching good financial habits.
Americans are panicking about whether they have saved enough for retirement, with 44% wishing they had started earlier and 33% wishing they had saved aggressively, according to HSBC Holdings. Still, 14% of working-age Americans have not started saving.
A Pennsylvania contractor has entered a guilty plea to charges of defrauding the government of $1.4 million on two military projects in New Jersey. The contractor received kickbacks and fraudulently steered subcontracts to his companies, then didn't complete the work, prosecutors say.
Construction has the highest suicide total of any industry, according to a CDC study. Industry leaders are working to improve employee health as awareness of the problem increases.
People overwhelmingly think higher education is a good investment, despite the rising cost of college, according to a Bankrate survey. "People need to mindful of the return on their investment and making sure they can manage any debt incurred," Bankrate analyst Steve Pounds said.
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