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Worried that President-elect Donald Trump will curtail federal efforts to take on the nation’s medical debt problem, patient and consumer advocates are looking to states to help people who can’t afford their medical bills or pay down their debts. “The election simply shifts our focus,” said Eva Stahl, who oversees public policy at Undue Medical Debt, a nonprofit that has worked closely with the Biden administration and state leaders on medical debt. “States are going to be the epicenter of policy change to mitigate the harms of medical debt.” New state initiatives may not be enough to protect Americans from medical debt if the incoming Trump administration and congressional Republicans move forward with plans to scale back federal aid that has helped millions gain health insurance or reduce the cost of their plans in recent years. Comprehensive health coverage that limits patients’ out-of-pocket costs remains the best defense against medical debt. But in the face of federal retrenchment, advocates are eyeing new initiatives in state legislatures to keep medical bills off people’s credit reports, a consumer protection that can boost credit scores and make it easier to buy a car, rent an apartment, or even get a job. Several states are looking to strengthen oversight of medical credit cards and other financial products that can leave patients paying high interest rates on top of their medical debt. Some states are also exploring new ways to compel hospitals to bolster financial aid programs to help their patients avoid sinking into debt. “There’s an enormous amount that states can do,” said Elisabeth Benjamin, who leads health care initiatives at the nonprofit Community Service Society of New York. “Look at what’s happened here.” New York state has enacted several laws in recent years to rein in hospital debt collections and to expand financial aid for patients, often with support from both Democrats and Republicans in the legislature. “It doesn’t matter the party. No one likes medical debt,” Benjamin said. Other states that have enacted protections in recent years include Arizona, California, Colorado, Connecticut, Florida, Illinois, Minnesota, Nevada, New Jersey, New Mexico, Oregon, Rhode Island, and Washington. Many measures picked up bipartisan support. President Joe Biden’s administration has proved to be an ally in state efforts to control health care debt. Such debt burdens 100 million people in the United States, a . Led by Biden appointee Rohit Chopra, the Consumer Financial Protection Bureau has , going after aggressive collectors and exposing problematic practices across the medical debt industry. Earlier this year, the agency proposed landmark regulations to from consumer credit scores. The White House also championed legislation to boost access to government-subsidized health insurance and to cap out-of-pocket drug costs for seniors, both key bulwarks against medical debt. Trump hasn’t indicated whether his administration will move ahead with the CFPB credit reporting rule, which was slated to be finalized early next year. Congressional Republicans, who will control the House and Senate next year, have as regulatory overreach that will compromise the value of credit reports. And Elon Musk, the billionaire whom Trump has tapped to lead his initiative to shrink government, last week . “Delete CFPB,” Musk posted on X. If the CFPB withdraws the proposed regulation, states could enact their own rules, following the lead of Colorado, New York, and other states that have passed credit reporting bans since 2023. Advocates in Massachusetts are pushing the legislature there to take up a ban when it reconvenes in January. “There are a lot of different levers that states have to take on medical debt,” said April Kuehnhoff, a senior attorney at the National Consumer Law Center, which has helped lead national efforts to expand debt protections for patients. Kuehnhoff said she expects more states to crack down on medical credit card providers and other companies that lend money to patients to pay off medical bills, sometimes at double-digit interest rates. Under the Biden administration, the CFPB has been investigating amid warnings that many people may not understand that signing up for a medical credit card such as CareCredit or enrolling in a payment plan through a financial services company can pile on more debt. If the CFPB efforts stall under Trump, states could follow the lead of California, New York, and Illinois, which have all tightened rules governing patient lending in recent years. Consumer advocates say states are also likely to continue expanding efforts to get hospitals to provide more financial assistance to reduce or eliminate bills for low- and middle-income patients, a key protection that can keep people from slipping into debt. Hospitals historically have not made this aid readily available, prompting states such as California, Colorado, and Washington to set stronger standards to ensure more patients get help with bills they can’t afford. This year, North Carolina also won approval from the Biden administration to withhold federal funding from hospitals in the state unless they agreed to expand financial assistance. In Georgia, where state government is entirely in Republican control, officials have been discussing new measures to get hospitals to provide more assistance to patients. “When we talk about hospitals putting profits over patients, we get lots of nodding in the legislature from Democrats and Republicans,” said Liz Coyle, executive director of Georgia Watch, a consumer advocacy nonprofit. Many advocates caution, however, that state efforts to bolster patient protections will be critically undermined if the Trump administration cuts federal funding for health insurance programs such as Medicaid and the insurance marketplaces established through the Affordable Care Act. Trump and congressional Republicans have signaled their intent to roll back federal subsidies passed under Biden that make health plans purchased on ACA marketplaces more affordable. That could hike annual premiums by hundreds or even thousands of dollars for many enrollees, by the Center on Budget and Policy Priorities, a think tank. And during Trump’s first term, he backed efforts in Republican-led states to restrict enrollment in their Medicaid safety net programs through rules that would require people to work in order to receive benefits. GOP state leaders in Idaho, Louisiana, and other states have to renew such efforts. “That’s all a recipe for more medical debt,” said Stahl, of Undue Medical Debt. Jessica Altman, who heads the Covered California insurance marketplace, warned that federal cuts will imperil initiatives in her state that have limited copays and deductibles and curtailed debt for many state residents. “States like California that have invested in critical affordable programs for our residents will face tough decisions,” she said.
Stanford and California meet for the first time as Atlantic Coast Conference rivals when each tries to prove its impressive non-league record is no fluke on Saturday afternoon in Berkeley, Calif. Stanford (7-2) took last year's season series 2-1, but the clubs were so evenly matched -- the Cardinal won 14 games, the Golden Bears 13 -- it took overtime at the final Pacific-12 Conference tournament to determine the rivalry winner. The teams enter their first meeting this season with the same number of losses, but Cal (6-2) has had the edge in strength of schedule. The Golden Bears were invited to play in the SEC/ACC Challenge, in which they squandered a second-half lead en route to a 98-93 loss at Missouri. Cal's only other loss also came on the road at a Southeastern Conference site, an 85-69 setback at Vanderbilt on Nov. 13. Meanwhile, Stanford has played seven of its nine games at home and hasn't left the state of California. The Cardinal were beaten by Grand Canyon at a neutral site on Nov. 26 before getting shocked at home by Cal Poly last Saturday. This Saturday's matchup is the first since Andrej Stojakovic, Stanford's prize recruit last year, transferred to Cal after just one season. The son of former NBA standout Peja Stojakovic leads the Golden Bears in scoring at 18.8 points per game. Andrej Stojakovic has averaged 31.9 minutes per game for Cal after getting just 22.3 per game as a freshman at Stanford a season ago. He said anticipating that type of greater opportunity prompted his move across the San Francisco Bay. "I thought that when I played a large amount of minutes (last season), I performed to what I was expected to do from the staff and the program," he noted. "But just going into Cal and having a more consistent role and having the confidence instilled from the staff has been huge so far." Stanford returned just one of its top seven scorers from last season, but that was center Maxime Raynaud. The preseason All-ACC selection is averaging 22.3 points and 12.2 rebounds per game, with double-doubles in eight of nine outings. He had two double-doubles and a pair of 20-point games against Cal last season. Duke transfer Jaylen Blakes offered a unique perspective on his first Stanford-Cal experience. "Every ACC game is going to be a challenge," he claimed. "(Cal is) a rivalry game, but we are just trying to get a win." --Field Level Media( ) - When I heard about AI glasses that let you "see" what people are saying, I was skeptical. But after trying them on, I was proven wrong. The give you closed captions for the real world. The right lens has a small, transparent display that shows you conversations, but you can still see the people you're talking to. "The mission is... using the technology to help others," said Ting Chen, vice president of marketing for the company behind the glasses. The glasses are lightweight but a bit thicker than your typical spectacles. They connect wirelessly to a smartphone, which uses the Hearview app to listen to what people are saying. Those conversations are transcribed in near real time using AI, and then the words are displayed on the tiny see through screen. The system seems to be very accurate and works with 13 languages - and although there is a bit of a delay, it won't necessarily matter if you can't hear the words being spoken out loud. The glasses come in one style but can be outfitted with a magnetic sunglass clip or prescription lenses. The battery lasts about 7 hours on a charge. The result is impressive and potentially very useful for the hard of hearing. "So far, overwhelmingly positive. The folks who have purchased the glasses, used it in the community, they loved it," said Chen. The downside? The price. Hearview glasses retail for about $2,000, but are often on sale for less. The company says the price could come down as the tech evolves. Various other big tech firms are working on glasses that could perform similar functionality - including Apple's Vision Pro, Meta's Project Orion and Snapchat's Spectacles. However, all of those solutions are either still in development or, in the case of Vision Pro, too bulky and pricey to be used on the go. "This is a very, very powerful new tool so that it can enrich the life of many (in the) deaf community," concluded Chen. Up next, Hearview is working on AI that can translate sign language into text. To remove this article -
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The UK government has issued a new warning to Brits travelling to Turkey , cautioning them over the risk of counterfeit banknotes. The Foreign, Commonwealth and Development Office (FCDO) has said that banks and money exchanges may not accept $50 or $100 US dollar bills. This is due to a “reported surge in counterfeit banknotes of these denominations in Turkey ”. The FCDO added that nobody should accept these banknotes where possible. The Central Bank of the Republic of Turkiye says on its website that counterfeiting methods used for Turkish lira banknotes are also used for foreign banknotes. The US dollar and the Euro are the most frequently counterfeited foreign currencies in Turkey, it said, with counterfeit US dollar banknotes being mostly produced with offset printing technology whereas digital technology is largely preferred in the production of counterfeit Euro banknotes. The bank says that counterfeit foreign banknotes have features such as paper that can be easily found on the market, watermarks and security threads that are imitated by print, and even features that are recognised when held up to a UV light to check if it is real or not. These features are counterfeited so successfully that they can be highly deceptive. Low-value foreign banknotes have also been modified before they are introduced to the market as if they are internationally recognised, high-value currencies. The Turkish central bank said it is currently working with judicial authorities on the matter. “Accordingly, counterfeit banknotes, which have recently been covered in news regarding the increase in the circulation of counterfeit foreign banknotes in the market, were sent to the Bank by the judicial authorities for an expert report,” the bank said. While Turkey is a popular tourist destination, there are some parts of Turkey that the FCDO warn against visiting. The FCDO advises against all travel to within 10km of the border with Syria due to fighting and a heightened risk of terrorism. For more travel news and advice, listen to Simon Calder’s podcastKayode Tokede Despite raging inflation rate, banks operating in Nigeria led by Guaranty Trust Holdings Company Plc (GTCO) and other financial institutions to maintained modest Cost-to-Income Ratio (CIR) in half year ended June 2024. CIR is important for determining the profitability of a bank and it gives a clear view of how efficiently the bank is being run. The lower the ratio, the more profitable the bank. In the banking sector, CIR is a critical indicator of operational efficiency. A lower CIR can reflect better cost management, higher productivity, or both. However, it should be analysed alongside other metrics like Return on Equity (ROE) and Net Interest Margin (NIM) for a holistic assessment. For banks, an ideal CIR is typically between 40 per cent and 60 per cent, though this can vary based on the industry and geographic region. Inflation rate in Nigeria, according to the National Bureau of Statistics (NBS) increased to 34.19 per cent as of June 2024 from 28.92 per cent it closed in 2023. The rise in inflation rate was driven primarily by escalating food prices, soaring energy costs and ongoing volatility in foreign exchange markets. THISDAY analysis of Nigerian banks half year 2024 results revealed that GTCO’s CIR dropped to 16.74 per cent as of June 2024 from 29.13 per cent reported in 2023 financial year amid increasing operating expenses. The lender in the period under review emerged as the most profitable bank, reporting N1 trillion profit before tax, about 207 per cent increase from N327.4billion in H1 2023. GTCO reported N201.8 billion total operating expenses (Opex) in H1 2024, about 60.7 per cent or N76.22 billion from N125.56 billion in H1 2023, while its operating income stood at N1.21 trillion in H1 2024, about 126 per cent increase from N524.3billion in H1 2023. The lender in a statement stated that, “OPEX growth of 60.7 per cent was precipitated by growth in headline inflation in Nigeria, other West and East African Jurisdiction of operations; specifically, Nigeria’s inflation closed at 34.2 per cent as at H1 2024. “Operating cost was also impacted by adverse movement in exchange rate. The impact of Inflation combined with exchange rate movements and growth in business volume led to increase in technology and regulatory costs – Deposit Insurance Premium and AMCON expenses. The Group also reviewed salary upward to enable employees cope with increased cost of living resulting in N20.8billion growth in personnel cost to N41.5billion. “Operating cost was also negatively impacted by the translation of other Subsidiaries numbers to Naira, the functional currency for Group reporting in view of higher rate of depreciation of naira relative to depreciation suffered by other 3rd currencies in West and East Africa operating environments where the Group has presence. The Group continued to leverage its FCY liquidity to fund all foreign currency-denominated transactions thus preventing creation of FCY obligations.” Similarly, other Tier-I and II banks investigated by THISDAY recorded Cost-to-Income Ratio below 70 per cent in the period under review. Data compiled by THISDAY showed that Zenith Bank recorded 39.40 per cent Cost-to-Income Ratio in H1 2024 from 36.10 per cent in 2023 followed by Fidelity Bank Plc with 40.30 per cent Cost-to-Income Ratio as of H1 2024 from 50.40 per cent reported in 2023FY. Zenith Bank in a statement stated that, “We continued to strive for operational efficiency, resulting in only a marginal increase in our cost-to-income ratio YoY from 38.5per cent in H1 2023 to 39.4per cent.” Zenith Bank in the period was second most profitable bank after GTCO. Its profit before tax stood at N727.03 billion in H1 2024, about 108 per cent increase over N350.36 billion reported in H1 2023. Other bank with Cost-to-Income Ratio below 50 per cent threshold include: FBN Holdings at 46.90 per cent as of H1 2024 from 49.10 per cent in 2023, while Stanbic IBTC Holdings declared 42.80 per cent Cost-to-Income Ratio as of H1 2024 from 47 per cent in 2023FY. Commenting, the Vice President, Highcap Securities Limited, Mr. David Adnori stated that the ratio measures the efficiency of a bank in managing its expenses relative to its income. He said, “It shows how much money the bank spends to generate a naira of income, for example, GTCO – the bank burns just N0.16 to generate N1 income in the period under review.” He commended banks operating in Nigeria and other part of Afriuca for remaining resilience amid macroeconomy challenges.Joe Burrow's home broken into during Monday Night Football in latest pro-athlete home invasion