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Senate passes compromise masking bill as Democrats walk out over campaign finance reform addition

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Senate passes compromise masking bill as Democrats walk out over campaign finance reform addition

RALEIGH, N.C. (WTVD) — Senate Republicans passed a compromised version of HB 237, part of a vote which sparked a walk-out from Senate Democrats.

The Unmasking Mobs and Criminals Act enacts more restrictions on wearing a mask in public and stronger penalties for those who wear a mask while committing a crime.

Last month, the House voted against the bill, following pushback from healthcare advocates and people with medical issues who felt it was too far-reaching. That vote led to a conference committee and updated text, which includes a specific exemption for “any person wearing a medical or surgical grade mask for the purpose of preventing the spread of contagious disease.” Other exemptions include masks for traditional holiday costumes, theatre productions and work-related reasons.

“The new language in the mask bill was suggested by DHHS to ensure that individuals who have legitimate health concerns can wear a surgical or medical-grade mask in public,” said Lauren Horsch, Spokeswoman for Senate President Phil Berger, in a statement.

The bill states that a person must remove their mask upon request by law enforcement or by the owner of public or private property for the purposes of identification.

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“I’m not sure it provides enough protection for people who have health concerns about protecting their health when they’re in public. And there are a couple of provisions in there, I think, that raised a few questions,” said Rep. Brandon Lofton, a Democrat who represents Mecklenburg County and serves as the House Legislative Chair.

While the first four sections of the bill read Thursday morning were about masking, the fifth section focused on campaign finance reform.

“The campaign finance changes in the bill are so significant that we did not even discuss or examine the mask provisions,” said Sen. Jay Chaudhuri, who represents Wake County and serves as the Senate Democratic Whip.

In response to the added section, Democrats protested the vote, walking out of the legislative chambers. Ultimately, all 28 Senate Republicans who were present supported the legislation. On the Democratic side, a dozen lawmakers, including Chaudhuri, were listed as “Not Voting,” while the other eight Democrats were listed as “Excused Absence.”

“It removes the compliance of a federal political action committee with state election laws. Those state election laws provide for additional disclosures of whether a millionaire, for example, makes a contribution to the Federal Election Political Action Committee and to it removes any registration that’s required by the Political Action Committees, Treasurer or Deputy Treasurer. By removing the Treasurer from this bill, the State Board of Elections believes that there’s some kind of campaign finance violation. They’re not going to be able to subpoena anybody from that political action committee here in the state of North Carolina,” Chaudhuri asserted.

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He also criticized how the bill was introduced, through a conference committee, rather than as a standalone bill.

“It is a significant change that warrants more sunlight, more debate and more discussion by the public. The fact of the matter is, they tried to rush this through the dark of night, so to speak, without any discussion or debate that it would arise,” said Chaudhuri.

“I think more transparency and more disclosure is good for democracy,” added Lofton.

While acknowledging concerns about how the bill was introduced, Jim Stirling, a Research Fellow with The John Locke Foundation, believes some of the rhetoric surrounding its impact is overblown.

“If a billionaire wanted to drop, I’m going to use this as an example, $250,000 into a state party committee or an executive leadership committee, they can currently do that under state law. That’s not being changed here, and they already have that avenue to do it. Nothing here is being modified to allow billionaires to come in and just drop more money into it. The real change is mostly paperwork changes,” said Stirling.

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In a statement, Lauren Horsch, Spokeswoman to Senate President Phil Berger wrote:

“Elections made during the 2020 election that benefited certain political organizations that were aligned with Democratic groups. That decision essentially changed campaign finance laws without legislative action and treated political organizations differently because of their affiliation. This change brings much needed parity and restores our campaign finance laws to where they were before the state board’s collusive decision – and highlights the need for a bipartisan board of elections.”

“It doesn’t really address any of the monetary changes of committees, and it doesn’t change anything about state level executive committees or party committees because they can already receive unlimited contributions,” said Stirling.

The bill now heads to the House.

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Finance

Cornell Administrator Warren Petrofsky Named FAS Finance Dean | News | The Harvard Crimson

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Cornell Administrator Warren Petrofsky Named FAS Finance Dean | News | The Harvard Crimson

Cornell University administrator Warren Petrofsky will serve as the Faculty of Arts and Sciences’ new dean of administration and finance, charged with spearheading efforts to shore up the school’s finances as it faces a hefty budget deficit.

Petrofsky’s appointment, announced in a Friday email from FAS Dean Hopi E. Hoekstra to FAS affiliates, will begin April 20 — nearly a year after former FAS dean of administration and finance Scott A. Jordan stepped down. Petrofsky will replace interim dean Mary Ann Bradley, who helped shape the early stages of FAS cost-cutting initiatives.

Petrofsky currently serves as associate dean of administration at Cornell University’s College of Arts and Sciences.

As dean, he oversaw a budget cut of nearly $11 million to the institution’s College of Arts and Sciences after the federal government slashed at least $250 million in stop-work orders and frozen grants, according to the Cornell Daily Sun.

He also serves on a work group established in November 2025 to streamline the school’s administrative systems.

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Earlier, at the University of Pennsylvania, Petrofsky managed capital initiatives and organizational redesigns in a number of administrative roles.

Petrofsky is poised to lead similar efforts at the FAS, which relaunched its Resources Committee in spring 2025 and created a committee to consolidate staff positions amid massive federal funding cuts.

As part of its planning process, the committee has quietly brought on external help. Over several months, consultants from McKinsey & Company have been interviewing dozens of administrators and staff across the FAS.

Petrofsky will also likely have a hand in other cost-cutting measures across the FAS, which is facing a $365 million budget deficit. The school has already announced it will keep spending flat for the 2026 fiscal year, and it has dramatically reduced Ph.D. admissions.

In her email, Hoekstra praised Petrofsky’s performance across his career.

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“Warren has emphasized transparency, clarity in communication, and investment in staff development,” she wrote. “He approaches change with steadiness and purpose, and with deep respect for the mission that unites our faculty, researchers, staff, and students. I am confident that he will be a strong partner to me and to our community.”

—Staff writer Amann S. Mahajan can be reached at [email protected] and on Signal at amannsm.38. Follow her on X @amannmahajan.

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Finance

Where in California are people feeling the most financial distress?

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Where in California are people feeling the most financial distress?

Inland California’s relative affordability cannot always relieve financial stress.

My spreadsheet reviewed a WalletHub ranking of financial distress for the residents of 100 U.S. cities, including 17 in California. The analysis compared local credit scores, late bill payments, bankruptcy filings and online searches for debt or loans to quantify where individuals had the largest money challenges.

When California cities were divided into three geographic regions – Southern California, the Bay Area, and anything inland – the most challenges were often found far from the coast.

The average national ranking of the six inland cities was 39th worst for distress, the most troubled grade among the state’s slices.

Bakersfield received the inland region’s worst score, ranking No. 24 highest nationally for financial distress. That was followed by Sacramento (30th), San Bernardino (39th), Stockton (43rd), Fresno (45th), and Riverside (52nd).

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Southern California’s seven cities overall fared better, with an average national ranking of 56th largest financial problems.

However, Los Angeles had the state’s ugliest grade, ranking fifth-worst nationally for monetary distress. Then came San Diego at 22nd-worst, then Long Beach (48th), Irvine (70th), Anaheim (71st), Santa Ana (85th), and Chula Vista (89th).

Monetary challenges were limited in the Bay Area. Its four cities average rank was 69th worst nationally.

San Jose had the region’s most distressed finances, with a No. 50 worst ranking. That was followed by Oakland (69th), San Francisco (72nd), and Fremont (83rd).

The results remind us that inland California’s affordability – it’s home to the state’s cheapest housing, for example – doesn’t fully compensate for wages that typically decline the farther one works from the Pacific Ocean.

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A peek inside the scorecard’s grades shows where trouble exists within California.

Credit scores were the lowest inland, with little difference elsewhere. Late payments were also more common inland. Tardy bills were most difficult to find in Northern California.

Bankruptcy problems also were bubbling inland, but grew the slowest in Southern California. And worrisome online searches were more frequent inland, while varying only slightly closer to the Pacific.

Note: Across the state’s 17 cities in the study, the No. 53 average rank is a middle-of-the-pack grade on the 100-city national scale for monetary woes.

Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

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Finance

Why Chime Financial Stock Surged Nearly 14% Higher Today | The Motley Fool

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Why Chime Financial Stock Surged Nearly 14% Higher Today | The Motley Fool

The up-and-coming fintech scored a pair of fourth-quarter beats.

Diversified fintech Chime Financial (CHYM +12.88%) was playing a satisfying tune to investors on Thursday. The company’s stock flew almost 14% higher that trading session, thanks mostly to a fourth quarter that featured notably higher-than-expected revenue guidance.

Sweet music

Chime published its fourth-quarter and full-year 2025 results just after market close on Wednesday. For the former period, the company’s revenue was $596 million, bettering the same quarter of 2024 by 25%. The company’s strongest revenue stream, payments, rose 17% to $396 million. Its take from platform-related activity rose more precipitously, advancing 47% to $200 million.

Image source: Getty Images.

Meanwhile, Chime’s net loss under generally accepted accounting principles (GAAP) more than doubled. It was $45 million, or $0.12 per share, compared with a fourth-quarter 2024 deficit of $19.6 million.

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On average, analysts tracking the stock were modeling revenue below $578 million and a deeper bottom-line loss of $0.20 per share.

In its earnings release, Chime pointed to the take-up of its Chime Card as a particular catalyst for growth. Regarding the product, the company said, “Among new member cohorts, over half are adopting Chime Card, and those members are putting over 70% of their Chime spend on the product, which earns materially higher take rates compared to debit.”

Chime Financial Stock Quote

Today’s Change

(12.88%) $2.72

Current Price

$23.83

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Double-digit growth expected

Chime management proffered revenue and non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for full-year 2026. The company expects to post a top line of $627 million to $637 million, which would represent at least 21% growth over the 2024 result. Adjusted EBITDA should be $380 million to $400 million. No net income forecasts were provided in the earnings release.

It isn’t easy to find a niche in the financial industry, which is crowded with companies offering every imaginable type of service to clients. Yet Chime seems to be achieving that, as the Chime Card is clearly a hit among the company’s target demographic of clientele underserved by mainstream banks. This growth stock is definitely worth considering as a buy.

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