Checking balances: The Public Retirement Systems’ Actuarial Committee met Wednesday to review and evaluate reports on four major state retirement systems in Louisiana. The state employees retirement fund saw an increase of about $1.5 billion in their net positions restricted for pensions, which is total assets plus deferred outflows minus total liabilities plus deferred inflows. Read more from The Center Square.
Restricting legal loopholes: The Consumer Financial Protection Bureau on Thursday announced the final version of a rule limiting banks’ ability to charge overdraft fees, which they say will save American consumers $5 billion annually. The regulator says that banks could opt to charge $5 for overdrafts—a steep drop from the average fee of around $35 per transaction—or limit the fee to an amount that covers the lenders’ costs, or charge any fee while disclosing the interest rate of the loan. Read more from CNBC.
Growing: The International Energy Agency lifted next year’s oil-demand estimates, citing the impact of China’s stimulus measures, but says the pace of growth is expected to remain subdued. The Paris-based organization now forecasts global demand to grow by 1.1 million barrels a day in 2025 from 990,000 barrels a day previously. Estimates for this year were instead cut to 840,000 barrels a day from 921,000 barrels a day. Read more from The Wall Street Journal.
