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The lawsuit has to do with the Trump administration's argument that the CFPB can only be funded by the Federal Reserve's profits. The Federal Reserve has been running a loss since 2022, a side effect of the Fed raising interest rates sharply to combat inflation, because it holds bonds that pay low interest from the pandemic but it needs to pay out higher amounts of interest to the banks that hold their deposits with the bank.
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Mercedes-Benz was accused of violating state environmental laws and statutes against unfair or deceptive trade practices. Every state attorney general in the country took part in the settlement except for those of Arizona and California, which had previously reached their own settlements with the company.
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Asian stocks advanced for a second day, mirroring Wall Street's bullish momentum and signaling a year-end rally. The MSCI Asia Pacific index rose, with Japan's Topix also climbing. This positive sentiment, driven by technical factors and stimulus optimism, is setting the stage for a strong finish to the year and a solid start to the next.
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News and Media
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