National / International News
Amid pressure from the U.S. and a flood of refugees from ISIS-held border towns, Turkey will vote Thursday on whether to join the 40-state coalition against the extremist group. Turkey's president has been critical of the airstrikes playing out over the past week in Syria and Iraq, and hesitant to enter the conflict, citing hostages that were held by ISIS until last month.
But with that consideration gone and a vulnerable border, the Turkish parliament is expected to back a motion that would draw them squarely into the fight, the BBC reported. Just how many military resources the country is willing to commit is unclear.
Here's what we're reading — and some numbers we're watching — Thursday:$20.6 billion
The value of all subprime auto loans made in the second quarter of this year, which is double the number from the same period in 2010. At the same time, the New York Times reported, banks saw the biggest year-over-year increase in seriously delinquent loans since 2009. Contributing to this subprime auto loan boom are fraudulent used car loans, now subject to a broad state and federal investigation. The Times reviewed several documents indicating dealers lied about an applicant's income or employment status so they would qualify.$76.3 million
That's how much Bank of America has made since 2000 through its exclusive deal with the Bureau of Prisons to serve 121 institutions and 214,635 inmates nationwide. JPMorgan also has a deal allowing them to distribute debit cards with high fees once prisoners are released. As part of their investigation into banking in the prison system, the Center for Public Integrity found the Treasury Department awarded these contracts without asking banks to bid on them. In turn, B of A has been allowed to subcontract a wide range of services at its discretion.$275,000
The starting bid for "ElectHillary.com" on the domain name auction site GoDaddy, according to The Hill. Domain name speculation can lead to big payoffs, and some stake out domains long before anyone announces their candidacy. One man told The Hill he's scooped up domains with running mates attached — "ClintonNapolitano.com," "ClintonWarner.com" and even "ClintonBiden.com" — in hopes of selling one back to the campaign at a premium.
Kiev's forces and pro-Russia separatists have resumed fighting over the government-held airport.
Some people are spending more time in their backyard — in living rooms, entertainment centers, even bathrooms.
Bank of America CEO Brian Moynihan is getting another title: chairman of the board.
This is Bank of America’s way of saying, "Hey, we’re back to business as usual." It’s unusual for a bank’s CEO to not also be its chairman.
During the financial crisis, CEOs of the biggest banks were stripped of the chairman title when shareholders didn’t like the way they handled the crisis.
In 2009, Bank of America shareholders voted to take the chairman role away from then-CEO Ken Lewis. They were punishing him for his decision to acquire Merrill Lynch at the height of the crisis, and then give bank executives huge bonuses.
But there’s going to be somebody looking over Moynihan’s shoulder.
Jack Bovender will become the bank’s lead independent director. The bank’s press release announcing Moynihan’s promotion describes Bovender’s role in great detail. He’ll approve information sent to the board, and he will plan the board’s agenda with Moynihan.
So, it’s back to normal, with a few checks and balances.