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  • Reuters

    Geico must face lawsuit claiming it overcharged on car insurance during pandemic -judge

    The auto insurer Geico Corp, a unit of Warren Buffett's Berkshire Hathaway Inc, must face a proposed class action claiming it overcharged policyholders as the coronavirus pandemic led to less driving and fewer accidents, a judge has ruled. In a decision on Thursday, U.S. District Judge Sharon Johnson Coleman in Chicago said Illinois drivers may try to prove Geico violated a state consumer fraud law by unfairly and deceptively marketing its "Geico Giveback" discount program. Neither Geico nor its lawyers immediately responded to requests for comment on Friday.

  • ‘It is simply not possible.’ Calls for tax deadline extension mount as accountants say they can’t do everything by April 15
    MarketWatch

    ‘It is simply not possible.’ Calls for tax deadline extension mount as accountants say they can’t do everything by April 15

    As the April 15 deadline to file and pay taxes closes in, some of the accountants preparing those returns are telling the Internal Revenue Service they need more time. “In the current environment, it is simply not possible for many taxpayers and their tax advisers to meet their filing and payment obligations that are due on April 15,” according to a Thursday letter from the American Institute of Certified Public Accountants. The professional organization with more than 431,000 members wants the IRS to move the tax deadline to June 15.

  • Reuters

    UPDATE 1-Fed's Bullard not particularly worried by rise in Treasury yields

    The recent run-up in yields on longer-dated U.S. Treasury securities reflects improving expectations for the economy, St. Louis Federal Reserve President James Bullard said on Friday, adding that he is not eyeing a specific level of yields that might concern him. The 10-year U.S. Treasury note yield - which rose above 1.62% on Friday before falling back to about 1.55% - is just returning to the level consistent with the six months before the coronavirus pandemic, Bullard said in an interview on SiriusXM Radio, characterizing it as "still quite a low level of yields." Echoing Fed Chair Jerome Powell's comments from a day earlier, Bullard said he would be concerned by disorderly behavior in the Treasury market.