Dan Bobkoff
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For freelancers and artists living in expensive cities like New York, the home-sharing site Airbnb has become a way to subsidize their rents. It's also often illegal. With the site's users in the crosshairs of New York's attorney general, and questions elsewhere, some now wonder if the good times are going to end.
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JP Morgan Chase reported something unusual today: a loss. The bank has been forced to set aside a huge cash reserve to cover expected fines and related legal costs. In the most recent quarter, the set-aside was so large — $9.1 billion — that it produced a net loss for the bank.
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For the first time, the Consumer Financial Protection Bureau has referred a criminal case to the Department of Justice. The bureau accuses a debt relief company called Mission Settlement Agency of bilking consumers out of millions. The suit alleges the company lied about fees and its results.
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