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The Federal Deposit Insurance Corporation, or FDIC, has recently implemented new requirements for deposit insurance for trust accounts. The changes are intended to simplify insurance coverage rules for trust accounts, but they may result in some depositors exceeding FDIC limits. Established by Congress following the Great Depression, the FDIC provides insurance coverage of up to
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President Joe Biden is set to announce a new student loan forgiveness plan that could potentially benefit millions of Americans. This initiative comes after the Supreme Court rejected his initial attempt to cancel student debt, ruling it unconstitutional. The revised plan aims to target specific borrowers who meet certain criteria such as being eligible for
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As the tax deadline approaches, an increasing number of filers are turning to chatbots powered by artificial intelligence for assistance with their tax returns. However, experts advise caution when using generative AI for tax advice. While some individuals express trust in AI chatbots for tax-related tasks, experts warn against solely relying on these tools for
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The Biden administration is gearing up to introduce a groundbreaking new student loan forgiveness proposal that has the potential to significantly impact the lives of millions of Americans. While this new aid package may not be as expansive as President Biden’s initial education debt relief plan that was blocked by the Supreme Court, it still
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The National Student Clearinghouse Research Center has reported that the number of students who started college but then withdrew has been increasing, with over 40 million students currently unenrolled. First-generation college students, minorities, and low-income students are more likely to consider leaving college due to various factors such as financial concerns, loss of motivation, or
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