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A bill seeking to provide for four nominees by a bank account holder was introduced in the <keyword id="19895394" type="General" weightage="20" keywordseo="Lok-Sabha" source="keywords" meta.keywordsubtype="org" meta.entityname="Lok Sabha" meta.hostid="153" meta.entityid="Lok Sabha">Lok Sabha</keyword> on Friday to ensure better protection of depositors and enhance customer convenience. Introduced by Minister of State for Finance Pankaj Chaudhary in the Lower House, the Banking Laws (Amendment) Bill, 2024, has a provision for simultaneous and successive nominations to bank accounts, lockers, etc. As per the provision of the bill, a bank account holder can nominate up to four persons. The bill also seeks to transfer of unclaimed dividends, shares, and interest or redemption of bonds to the Investor Education and Protection Fund (IEPF), allowing individuals to claim transfers or refunds from the fund, and thus safeguarding investors' interests. As the banking sector has evolved over the years, and with a view to improving bank governance and investor protection, it has become necessary to make certain amendments to five Acts, according to Statement of Objects and Reasons of the Bill. The Bill, which was approved by the <keyword id="19916620" type="General" weightage="20" keywordseo="Union-Cabinet" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Cabinet" meta.hostid="153" meta.entityid="Union Cabinet">Union Cabinet</keyword> last week, proposes to amend the <keyword id="20824389" type="General" weightage="20" keywordseo="Reserve-Bank-of-India-Act" source="keywords">Reserve Bank of India Act</keyword>, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. The proposed bill seeks to improve governance standards, provide consistency in reporting by banks to the Reserve Bank of India, ensure better protection for depositors and investors, improve audit quality in public sector banks, bring customer convenience in respect of nominations, and to provide for increase in the tenure of the directors in co-operative banks. Another proposed change relates to redefining 'substantial interest' for directorships, which could increase to Rs 2 crore instead of the current limit of Rs 5 lakh, which was fixed almost six decades ago. Congress member Manish Tewari opposed the introduction of the bill, saying the power to legislate with regard to cooperatives vests with state governments. RSP member N K Premachandran opposed amending five legislations through one bill, while TMC member Saugata Roy termed the bill "superfluous", saying the the amendments proposed in the bill could have been done through administrative decisions. Responding to opposition's remarks, <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> Nirmala Sitharaman said the various amendments done in Banking Regulations Act with respect to <keyword id="20814377" type="General" weightage="20" keywordseo="cooperative-banks" source="keywords">cooperative banks</keyword> are not just one or two but several. "Simple understanding is we are not touching any aspect of the cooperatives other than that which claims under the name of banking...the sections which have been brought in for amendments, as also the court verdicts, have repeatedly reinforced the point that Banking Regulation Act and the Cooperative Banks do have this relationship and therefore it has to be taken through this route," she said. Otherwise, there is no attempt to undermine the cooperatives, particularly cooperatives dealing with everything other than banks, she said defending the Bill. The bill proposes to increase the tenure of directors (excluding the chairman and whole-time director) in cooperative banks from 8 years to 10 years, so as to align with the Constitution (Ninety-Seventh Amendment) Act, 2011. Once passed, the bill would allow a director of a Central Cooperative Bank to serve on the board of a State Cooperative Bank. The bill also seeks to give greater freedom to banks in deciding the remuneration to be paid to statutory auditors. It also seeks to redefine the reporting dates for banks for regulatory compliance to the 15th and last day of every month, instead of the second and fourth Fridays. "What's the rationale behind it? The current reporting Friday system has several limitations that impact the accuracy and effectiveness of the reporting of data. "These limitations are incomplete coverage of monthly data, seasonal fluctuations in banking activity which lead to inconsistent reporting, and the need for adjustment every 11th year which introduces complications and inconsistencies. That is why, in order to address the issue, it is proposed to amend the legislation," she said. The announcement about amendments to the Banking Regulation Act was made by the Finance Minister in the 2023-24 Budget speech. "To improve bank governance and enhance <keyword id="22728161" type="General" weightage="20" keywordseo="investors-protection" source="keywords">investors' protection</keyword>, certain amendments to the Banking Regulation Act, the Banking Companies Act and the Reserve Bank of India Act are proposed," she had said.

Bill to provide up to four nominees to a bank account introduced in Lok Sabha

The internet has revolutionised our lives, offering convenience and connectivity at our fingertips. With the rapid adoption of digital payments in India, fraudsters have evolved their tactics, devising new scams to exploit the growing user base. Several <keyword id="20182215" type="General" weightage="20" keywordseo="online-scams" source="keywords">online scams</keyword> have been reported in India over the past few months, from the standard UPI refund scams to unbelievable scams such as the digital arrest scams. Here's a look at some prevalent online scams and how to protect yourself: <h2><keyword id="23629952" type="General" weightage="20" keywordseo="UPI-refund-scam" source="keywords">UPI refund scam</keyword></h2>UPI refund scam is one of the most common online scams these days. It involves a person sending the victim money and then claiming that it was accidentally sent. The scammer then asks the victim to refund the money, often using excuses such as emergency hospitalisations or other important expenses. If the victim refunds the money, the scammer then contacts their bank and reverses the initial transaction, resulting in the victim losing money. How to protect yourself from UPI refund scams: <ul><li>Do not resend the money if someone claims they have “accidentally” sent you money.</li><li>If you receive money from an unknown source, contact your bank immediately.</li><li>If someone says they have sent you money, ask them to contact their bank to get a refund.</li></ul><h2><keyword id="19939895" type="General" weightage="20" keywordseo="phishing-scams" source="keywords">Phishing scams</keyword></h2>Phishing scams have been around for a long time, but they have become more sophisticated in the digital age. Fraudsters often impersonate reputable companies, sending fake emails, messages, or even websites that look almost identical to the real ones. These messages typically contain a sense of urgency—such as a warning that your account is about to be blocked or that you've won a prize. Once you click on the link, you’re directed to a fake site that prompts you to enter your personal information, including login credentials and payment details. This data is then used to steal money or compromise your identity. How to protect yourself from phishing scams: <ul><li>Be sceptical of unexpected messages or emails, even if they seem to come from trusted sources.</li><li>Check the URLs of websites carefully. Scammers often use misspelt URLs that are designed to look legitimate.</li><li>Never share your personal or financial information without verifying the authenticity of the request.</li></ul><h2><keyword id="23629953" type="General" weightage="20" keywordseo="SIM-swap-scam" source="keywords">SIM Swap scam</keyword></h2>As the name suggests, a SIM swap scam basically involves the scammer getting access to your SIM, either with the help of someone at the mobile service provider or through other means. The scammer often convinces the network provider to activate a SIM card they possess, gaining control of the victim’s phone number. This allows the scammer to gain access to all calls and text messages that the victim may receive, which is important in this day and age where all accounts are linked to your phone number. Once the scammer gets access to the victim’s phone number, they use it to gain access to their bank account and steal money. How to protect yourself from SIM swap scam: <ul><li>If your SIM stops working, immediately inform the telecom operator.</li><li>Make use of a SIM lock, which prevents your SIM from being used on another smartphone without entering a password.</li><li>Avoid sharing personal information online, especially things which can make it easier to crack your passwords.</li><li>Keep track of your accounts and report any unauthorised transactions.</li></ul><h2><keyword id="20415709" type="General" weightage="20" keywordseo="online-shopping-scams" source="keywords">Online Shopping Scams</keyword></h2>Beware of fake online stores offering unbelievable deals. These websites might steal your payment information or deliver counterfeit or non-existent products. These websites often advertise unbelievable deals to lure in unsuspecting customers, either with the intention of stealing their data or selling substandard products. How to stay safe: <ul><li>Shop from reputable websites. Look for customer reviews and secure payment gateways.</li><li>Be cautious of prices that seem too good to be true.</li><li>Use a credit card for online purchases. It offers better fraud protection than a debit card.</li></ul><h2>The "Digital Arrest" scam</h2>In this chilling scam, fraudsters impersonate law enforcement officials. They may claim you're involved in illegal activities and threaten you with a "digital arrest" or legal action. To avoid this, they'll demand payment or personal information. Victims are often coerced into making payments via UPI or other digital means. The sense of urgency and fear of legal consequences often compels people to act without verifying the legitimacy of the claim. How to avoid: <ul><li>Know your rights: Law enforcement agencies will never demand payment or personal information over the phone or online. </li><li>Verify identities: If you receive such a call, hang up and directly contact the relevant authorities to verify the claim.</li></ul><h2><keyword id="23629954" type="General" weightage="20" keywordseo="KYC-scam" source="keywords">KYC scam</keyword></h2>With the increased demand for KYC (know your customer) updates across digital platforms, fraudsters are taking advantage by posing as bank or telecom representatives. They often claim that your account will be blocked if you don’t update your KYC details immediately. Victims are then asked to share their Aadhaar number, PAN, or other personal details via a fraudulent link or over a call. In some cases, they also ask users to complete the process through UPI apps, stealing money from their accounts during the process. How to avoid it: <ul><li>Banks and financial institutions never ask for personal details over a call, message, or link.</li><li>Always update KYC details through official channels, like the bank’s app or website.</li><li>If you receive a suspicious KYC request, report it to your bank’s customer service immediately.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-to-afcons-infrastructure-ipos-to-look-out-for-this-week/articleshow/114421377.cms">Waaree Energies to Afcons Infrastructure, IPOs to look out for this week</a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a> <a href="https://www.businessinsider.in/stock-market/news/bigger-they-are-harder-they-fall-a-look-at-how-the-countrys-biggest-ipos-have-fared/articleshow/114307997.cms">Bigger they are, harder they fall – A look at how the country’s biggest IPOs have fared</a>

UPI refund to digital arrest scam, here are some online scams you need to be aware of

Delhi continued to battle with air pollution for the 10th consecutive day post-Diwali as a dense layer of smog blanketed parts of the national capital on Sunday. Several parts of the national capital recorded very poor air quality levels on Sunday morning as per the data issued by the System of Air Quality and Weather Forecasting And Research (SAFAR-India). Today morning, Anand Vihar recorded an AQI of 351, Bawana 383, CRRI Mathura Road 323, Dwarka Sector 8 at 341, IGI Airport at 326, ITO 328, Lodhi Road 319, Mundka at 358, Najafgarh at 341, New Moti Bagh at 394, Okhla phase-2 at 339, RK Puram at 368, and Wazirpur at 366, as per SAFAR-India data. As of 5 pm on November 10, Delhi's AQI stood at 334, with Anand Vihar at 353, Dilshad Garden at 262, and Jahangirpuri at 377. For tomorrow, AQI in adjoining cities of Noida and Gurugram is forecasted to be at 208.92 and 77.51, respectively. Multiple visuals from Delhi's Kartavya Path showed the area surrounding India Gate engulfed by a layer of smog. The AQI in the area was recorded at 357 as of 7 am. High-rise buildings were also covered in smog in the Kalindi Kunj and surrounding locality, as the AQI was recorded as 323 in the area. An AQI is considered "poor" between '200 and 300', "very poor" at '301 and 400', "severe" at '401-450," and 450 and above is "severe plus." As the air pollution levels in the national capital reach "very poor," doctors say that even people with no history of respiratory diseases are suffering from breathing issues. Dr. Nikhil Modi, Senior Consultant for Respiratory Critical Care at Apollo Hospital, told ANI that apart from the regular patients, those who haven't had any respiratory issues in the past are showing up with symptoms such as runny noses, sneezing, coughing, and having increasing difficulties breathing. As it is, respiratory illnesses in the national capital are estimated to have shot up by around 15-20%. The Apollo doctor further suggested that the government close the schools for children as they remain vulnerable. Whenever the pollution levels have gone beyond a certain limit, the government has opted to close the schools, Dr. Modi said. "For the last few years, we have been seeing that the government has taken action. Whenever this pollution level has gone beyond a certain limit, they have opted to close the schools. This is important because children are from a vulnerable group. As adults, we are masked and can protect ourselves better, but children usually are not that effectively taking these measures. Secondly, their lungs are still in developing stages, so they are bound to have more harm due to this pollution," the doctor told ANI. Siddharth Singhal, Head of Health Insurance, Policybazaar.com, notes that while most standard health plans in India cover pollution-related ailments, it is always advised to also go for an OPD plan along with a health insurance plan to cover consultations, medications, and diagnostic tests that may be required frequently due to pollution. "Pollution levels in Delhi-NCR and some other parts of India have shot up post Diwali. Effects of this are very evident in the form of sore throats and breathing problems, among others. This can also result in respiratory ailments and chronic conditions like asthma, bronchitis, Chronic Obstructive Pulmonary Disease (COPD), pneumonia, and severe cases of respiratory or bronchial obstruction. Health insurance becomes critical to cover such expenses. Most policies typically cover emergency hospitalization for respiratory issues like asthma or COPD exacerbations requiring ICU or critical care," he adds.

Layer of smog covers Delhi as air quality remains 'very poor'. Here's why you need an insurance cover for this

<ul><li><keyword id="20940216" type="General" weightage="20" keywordseo="Synology" source="keywords" meta.keywordsubtype="org" meta.entityname="Synology" meta.hostid="261" meta.entityid="Synology">Synology</keyword> launched several new products at the Synology Solution Exhibition 2024.</li><li>The company has registered double-digit growth in India in the last three years.</li><li>We speak to the company’s <keyword id="22416016" type="General" weightage="20" keywordseo="joanne-weng" source="keywords">Joanne Weng</keyword> to learn more about the company and its plans in India.</li></ul> Taiwanese <keyword id="20653112" type="General" weightage="20" keywordseo="storage-solutions" source="keywords">storage solutions</keyword> provider Synology<a href="https://www.businessinsider.in/tech/news/synology-introduces-new-products-aimed-at-data-protection-and-scalability/articleshow/110711086.cms"> introduced</a> several new products aimed at offering <keyword id="20285436" type="General" weightage="20" keywordseo="data-management" source="keywords">data management</keyword> and protection needs of business organisations at the Synology Solution Exhibition 2024 held in Taiwan. The company announced products such as ActiveProtect, the new GS Series and surveillance solutions at the event. The company also offers Network-attached storage (NAS) devices. Business Insider India spoke with Joanne Weng, Director of International Business, Synology during the event about the company’s operations in India and its future plans. To start, can you tell us about Synology's mission and its recent focus on the Indian market? Synology's mission has always been to simplify IT management, making it accessible for everyone from tech-savvy users to those with minimal technical expertise. Recently, we've been focusing on expanding our presence in India, recognising the country's immense potential as a key market for our solutions. Can you share some insights into Synology's performance in India? Our performance in India has been impressive, with consistent double-digit growth over the past three years. The Indian market is among the top five for Synology in the Asia-Pacific region, reflecting the growing demand for reliable and scalable data storage solutions. Despite the challenges posed by the COVID-19 pandemic, the demand for our products has remained strong, highlighting their relevance in supporting business continuity. How has Synology built its local presence and support in India? We recognise the importance of being present in the market. We've invested in building a dedicated team to look after the Indian market, working closely with local partners to provide on-ground support and consultation. Our strategy of selling through channels ensures that customers can get the help they need from partners familiar with their specific requirements. How does Synology ensure ease of management for its users? Our solutions are designed for easy setup and management, ensuring minimal hassle for users. We focus on user-friendly interfaces and pre-configured settings, making our products accessible for small and medium-sized businesses (SMBs) as well as large enterprises. This approach helps streamline IT management, allowing users to focus on their core business activities. What steps does Synology take to set itself apart in terms of flexibility and scalability? One of our core strengths is the flexibility and scalability of our solutions. As businesses grow, their data storage needs evolve, and Synology offers scalable solutions that can adapt to these increasing demands. This makes us an ideal choice for enterprises experiencing rapid growth, especially with emerging technologies like AI that require robust data management capabilities. Security is a major concern for businesses today. How does Synology address this? Security is a top priority for us. Our solutions come with end-to-end encryption and other advanced security features to protect data. We have a dedicated PSIRT Team that collaborates with global security organisations and ethical hackers to ensure our products remain secure against evolving threats. Additionally, to strengthen our backup solutions, the upcoming ActiveProtect appliances will include features like air-gapping and isolating backup copies in a secure environment to protect against ransomware attacks. How does Synology maintain a customer-centric approach? Customer feedback is extremely valuable to us and drives our continuous improvement efforts. We work with organizations like Gartner for peer reviews to ensure we are meeting customer expectations and delivering high satisfaction levels. This customer-centric approach is a cornerstone of our strategy, ensuring that our products and services evolve in line with user needs. What can we expect from Synology in the future, especially in the Indian market? Looking ahead, we plan to continue focusing on the Indian market, leveraging our robust product portfolio to meet the growing demands of enterprises. Our upcoming products are set to offer even greater scalability and performance, catering to businesses with extensive data management needs. We're excited about the future and are committed to supporting the evolving needs of businesses in India. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-biggest-ipos-in-indias-history-lic-to-paytm-companies-that-have-raised-the-most-funds/articleshow/111690863.cms">The biggest IPOs in India’s history – LIC to Paytm, companies that have raised the most funds</a> <a href="https://www.businessinsider.in/business/auto/news/its-raining-discounts-maruti-suzuki-hyundai-tata-motors-and-others-offer-discounts-on-cars-as-sales-slowdown/articleshow/111688501.cms">It’s raining discounts – Maruti Suzuki, Hyundai, Tata Motors and others offer discounts on cars as sales slowdown</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a>

Synology bets big on the Indian market amid strong growth, growing demand

Issues related to data privacy and rising <keyword id="20127272" type="General" weightage="20" keywordseo="online-frauds" source="keywords">online frauds</keyword> are emerging as significant hurdles in the growth of e-commerce in India, said the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Citing third-party data, the survey said that the e-commerce industry in India is expected to cross USD 350 billion by 2030 and called for the need to educate users on the safe use of e-commerce platforms. "The rise of e-commerce is constrained by inadequate skills required for online selling, such as cataloguing. <keyword id="22505774" type="General" weightage="20" keywordseo="data-privacy-issues" source="keywords">Data privacy issues</keyword> and increasing online fraud have turned out to be the most significant hurdle in the growth of e-commerce in India. It becomes imperative to educate users on the safe use of e-commerce platforms," the survey said. The survey mentioned that India's e-commerce market has gained significant momentum during the past few years, owing to technological advancements, evolving new-age business models coupled with government initiatives like the Digital India program, UPI, One District - One Product (ODOP), Open Network for Digital Commerce (ONDC), new foreign trade policy, easing of FDI limits and Consumer Protection (E-Commerce) (Amendment) Rules 2021. It has identified data privacy and <keyword id="19906883" type="General" weightage="20" keywordseo="cybersecurity" source="keywords">cybersecurity</keyword> as critical concerns in the <keyword id="22505776" type="General" weightage="20" keywordseo="digitisation-of-services" source="keywords">digitisation of services</keyword> in the country and called for adopting strong security measures, compliance with privacy regulations, and innovation, among others. "Data privacy and cybersecurity have become critical concerns with the increasing digitisation of services," according to the survey. It said that the government is spearheading data protection laws and cybersecurity policies to safeguard consumer data and strengthen cybersecurity measures in the services sector. "To further embrace technology with confidence, ensuring the adoption of strong security measures, compliance with privacy regulations, and fostering innovation in security technologies are essential," the survey noted. It said the future of e-commerce is built on the enhanced <keyword id="20290101" type="General" weightage="20" keywordseo="user-experience" source="keywords">user experience</keyword> through <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>, seamless <keyword id="21332958" type="General" weightage="20" keywordseo="digital-payment-methods" source="keywords">digital payment methods</keyword>, innovations like UPI, and business engineering data analytics for business operations and enhancements. The survey mentioned that the buyer ecosystem in India is evolving at a very sharp rate, and business models will need to innovate to serve the needs of a diverse shopper base regarding service expectations, price sensitivity and language requirements. "Local language platforms are needed as the shopper base expands to tier-2 and tier-3 cities. Growing startups and innovative social media platforms provide an opportunity to test unique business models that might be targeted to specific demographic cohorts," the survey said.

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

The <keyword id="19895221" type="General" weightage="100" keywordseo="Competition-Commission-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Competition Commission of India" meta.hostid="261" meta.entityid="Competition Commission of India">Competition Commission of India</keyword> has dismissed a complaint against <keyword id="20201307" type="General" weightage="20" keywordseo="Google-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Google India" meta.hostid="261" meta.entityid="Google India">Google India</keyword> alleging that the tech giant abused its <keyword id="22202852" type="General" weightage="20" keywordseo="Dominant-Position" source="keywords">dominant position</keyword> to favour <keyword id="20200171" type="General" weightage="20" keywordseo="Truecaller" source="keywords" meta.keywordsubtype="org" meta.entityname="Truecaller" meta.hostid="261" meta.entityid="Truecaller">Truecaller</keyword> in the market for caller ID and spam protection apps, as it found no evidence of violation of <keyword id="20854369" type="General" weightage="20" keywordseo="Competition-Law" source="keywords">competition law</keyword>. While dismissing the complaint, the fair trade regulator said, "The Commission finds that no prima facie case of contravention of the provisions of Section 4 of the Act is made out against <keyword id="6355629" type="General" weightage="20" keywordseo="Google" source="Orion">Google</keyword> in the instant matter". Section 4 of the Competition Act, deals with the abuse of dominant position. The ruling came on a complaint filed by Rachna Khaira (informant) accusing Google of granting exclusive access to Truecaller to share private contact information while prohibiting other apps from doing the same. Further, she alleged that this practice has distorted the market and created a monopoly for Truecaller. The informant also alleged that Google's developer policy prohibits unauthorised disclosure of non-public contacts, and Truecaller's privacy policy, to which she argued allowed the sharing of such information. Further, Khaira alleged that Google favoured Truecaller due to commercial arrangements involving Google's cloud storage and advertising services. The regulator after reviewing submissions from both Google and Khaira, found that the informant's claims were unsubstantiated. "...the allegation of the informant remains unsubstantiated and despite sufficient opportunity, the informant has not provided any evidence to prima facie establish that Google is according either preferential treatment to Truecaller or resorting to discriminatory practises by allowing access to user's contact data to Truecaller while denying the same to the competing applications," CCI said in an order on June 24. The competition watchdog also addressed the commercial relationship allegations against the tech major, stating that mere commercial relationships do not imply preferential treatment unless proven. However, the regulator found no evidence suggesting that these changes granted Truecaller a competitive advantage over its rivals. The request for interim relief by the informant to temporarily block Truecaller from operating on the Play Store was also rejected by the competition watchdog."The Commission finds that no prima facie case of contravention of the provisions of Section 4 of the Act is made out against Google in the instant matter. Accordingly, the Information is ordered to be closed," the fair trade regulator said.

Competition Commission dismisses complaint against Google India

<ul class="summary-list"><li>PowerSchool sells student data without parents' informed consent, a federal lawsuit alleges.</li><li>The edtech giant calls the lawsuit's allegations "unfounded and inaccurate."</li></ul>It's been 10 years since Emily Cherkin helped her son log onto a school computer on his first day of Kindergarten."He can't even write his name. Why am I teaching a five-year-old control-alt-delete?" she remembers asking herself.Cherkin, a Seattle mother of two, former teacher, and author of the new parenting guide <a target="_blank" class="" href="https://www.google.com/search?q=emily+cherkin+the+screentime+solution&amp;rlz=1C5GCEM_enUS1094US1095&amp;oq=emily+cherkin+the+screentime+solution&amp;gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIHCAEQIRigATIHCAIQIRigATIHCAMQIRigATIHCAQQIRigATIHCAUQIRigATIHCAYQIRirAtIBCTEwMzY5ajBqN6gCALACAA&amp;sourceid=chrome&amp;ie=UTF-8">"The Screentime Solution,"</a> is now the lead plaintiff in a class-action lawsuit that alleges the education technology giant PowerSchool is selling student data, including health and disciplinary records, to its third-party "partners," and doing so without the informed consent of kids or parents.The lawsuit, filed in May in federal court in San Francisco, takes on the world's largest provider of cloud-based software for K-12 schools.PowerSchool, based in Folsom, California, manages data and crunches it into what it calls "analytics and insights" for more than 60 million students and their educators, including <a target="_blank" class="" href="https://www.powerschool.com/global/north-america/united-states/">at 90 of the top 100 US school systems by enrollment size</a>.Boston-based private equity firm <a target="_blank" class="" href="https://www.businessinsider.com/rak-garg-bain-capital-ventures-youngest-partner-2024-7">Bain Capital</a> acquired PowerSchool for $5.6 billion in a deal finalized October 1. PowerSchool <a target="_blank" class="" href="https://www.powerschool.com/bain-capital/#:~:text=(%E2%80%9CPowerSchool%E2%80%9D%20or%20the%20%E2%80%9C,value%20of%20approximately%20%245.6%20billion.">CEO Hardeep Gulati said</a> the merger will help the company expand its award-winning products, including <a target="_blank" href="https://www.powerschool.com/powerschool-ai/powerbuddy/?utm_id=ps00032&amp;utm_campaign=powerschool_powerbuddy_paid-search__pkg00035&amp;utm_source=google&amp;utm_medium=paid-search&amp;utm_content=text-only&amp;_bk=powerbuddy&amp;_bt=702266406463&amp;_bm=e&amp;_bn=g&amp;_bg=161909434485&amp;cq_plac=&amp;cq_net=g&amp;cq_pos=&amp;cq_med=&amp;cq_plt=gp&amp;gad_source=1&amp;gclid=Cj0KCQjwsoe5BhDiARIsAOXVoUucdfp2kkZDiwXnqSDBRfimw6rztJoPhTxmV5nwd8F7Y9ZtUlGzj3IaAqMIEALw_wcB">PowerBuddy,</a> its new generative AI platform.With two parents and their children as sole plaintiffs, the Cherkin lawsuit may seem a small effort by comparison, but it's throwing big rocks.<a target="_blank" class="" href="https://www.documentcloud.org/documents/25260275-cherkin-v-powerschool-complaint-20240506">The lawsuit</a> caps Cherkin's decade of concern about children and screen time. It calls PowerSchool a "multibillion-dollar surveillance-technology empire." It demands that the company pay back untold millions of dollars earned by selling student data "products" to more than 100 of its <a target="_blank" class="" href="https://www.powerschool.com/company/partners/">partners</a>, including educational consulting firms and <a target="_blank" class="" href="https://www.documentcloud.org/documents/25259171-powerschool-guide-to-p20w">government policymakers</a>.One partner, an educational consulting firm, offers marketing guidance to colleges, trade schools, and the military based on data from the 6 million high school students who use PowerSchool's Naviance college-planning software, the lawsuit alleges."PowerSchool collects this highly sensitive information under the guise of educational support," the lawsuit alleges, "but in fact collects it for its own commercial gain," while hiding behind "opaque terms of service such that no one can understand."PowerSchool is throwing big rocks back.The days of "spiral-bound grading books" are long over, the edtech company's lawyers counter in <a target="_blank" class="" href="https://www.documentcloud.org/documents/25260257-cherkin-v-powerschool-motion-to-dismiss-20240722">a motion to dismiss</a> filed in July.The motion argues that PowerSchools is legally allowed to collect data voluntarily submitted by students and administrators, along with metadata about "unique device identifiers," IP addresses, and "cookie data."PowerSchool also argues that it "adequately discloses" what data it collects.PowerSchool spokesman Austin Zerbach told BI that no PowerSchool product sells any form of student data. "PowerSchool does not endorse or support any use of student educational records other than as agreed to by our customers, the schools and districts controlling the student education record, nor do we conduct targeted advertising with personal data of students," PowerSchool spokesman Zerbach said in a written statement.<h2 id="d912114d-9964-433f-80b6-1ed9123210db">A 345-terabyte trove of data</h2>The information PowerSchool collects from students is "virtually unlimited," the lawsuit says.It lists more than 50 kinds of data that PowerSchool says in public disclosures it "may" collect, including "extracurricular program membership" and "student assessments."<div type="image" title="Categories of data PowerSchool public disclosures mention the edtech company &quot;may&quot; collect." height="1076" width="766" msid="114945245" hostid="261" sizebytes="23708"></div>PowerSchool also tells users it may collect "student behavior data" and information about "physical and mental disabilities," according to the lawsuit.PowerSchool's "data trove" totals some "345 terabytes of data collected from 440 school districts," and includes information from nearly 20 edtech companies it has acquired since 2015, including Schoololgy and Kickboard, a "student behavior management and reporting program," the lawsuit alleges.What's done with the data?The lawsuit alleges that in addition to being aggregated into lucrative analytics "products" for third parties, it's used to "train its AI technologies," including a <a target="_blank" href="https://www.powerschool.com/powerschool-ai/powerbuddy/?utm_id=ps00032&amp;utm_campaign=powerschool_powerbuddy_paid-search__pkg00035&amp;utm_source=google&amp;utm_medium=paid-search&amp;utm_content=text-only&amp;_bk=powerschool%20powerbuddy&amp;_bt=702266406463&amp;_bm=e&amp;_bn=g&amp;_bg=161909434485&amp;cq_plac=&amp;cq_net=g&amp;cq_pos=&amp;cq_med=&amp;cq_plt=gp&amp;gad_source=1&amp;gclid=CjwKCAjw-JG5BhBZEiwAt7JR6wXcuxvpa0vkLTae4QJjMPAdsAXLaqF5-fArp6Ea0cuLbThmuvw7YBoCCiwQAvD_BwE">PowerBuddy</a> chatbot marketed not only to educators but to "state officials" for the purpose of "workforce planning," the lawsuit alleges.<div type="image" title="PowerSchool also publicly discloses that it may collect &quot;student behavior data&quot; and records of &quot;physical and mental disabilities,&quot; the Cherkin lawsuit alleges." height="1512" width="822" msid="114945247" hostid="261" sizebytes="38602"></div><h2 id="58f65212-0185-4112-b583-39eb1ada3ba6">The data is anonymized</h2>The data shared with third parties is anonymized, but the lawsuit raises concerns that it is so "granular" that it can be reverse-engineered to identify individual students."There are data brokers — they're called identity-resolution companies — that collect information from internet users, re-identify the data, and then sell it," said attorney Julie Liddell, whose Austin, Texas-based <a target="_blank" class="" href="https://edtech.law/about-us/">EdTech Law Center </a>represents Cherkin in the suit.Technology can easily re-identify anonymized student data, said Chad Marlow, senior policy counsel at the ACLU, where he focuses on privacy, surveillance, and technology issues."A generation ago, the most private student data was kept in a locked steel file cabinet in the principal's office, and it was very hard to share that information," Marlow said. "Nowadays the ability to share and reshare that data can be as easy as pressing a key on a keyboard."<div type="image" title="PowerSchool's marketing of student data systems to state government agencies." height="2394" width="1955" msid="114945234" hostid="261" sizebytes="89902"></div>Among the "products" PowerSchool offers educators, policymakers, and government agencies is its <a target="_blank" class="" href="https://www.powerschool.com/college-career-and-life-readiness-cloud/connected-intelligence-p20w/">"P20W Cradle-to-Career State Data Systems."</a>Its data is touted as "longitudinal," captured from the same students from K-12 through post-secondary education and into the workforce.<div type="image" title="PowerSchool markets &quot;efficient access to both historical and current data&quot; from students to government agencies." height="1486" width="1744" msid="114945238" hostid="261" sizebytes="109230"></div>"It's telling state and local governments, 'You will not get a more robust picture of children, starting from their earliest days,'" said Liddell."And this is not just for educational services," she told BI. "It's for workforce planning, for healthcare planning, for juvenile justice and law enforcement planning," she said.PowerSchool's motion to dismiss the lawsuit, including on grounds that it misapplies the law and fails to state "actual damages," will be argued in San Francisco on Thursday before US District Judge James Donato."The claims made in the complaint are unfounded and inaccurate," Zerbach, the PowerSchool spokesman, told BI.The company "strictly and proactively follows all legal, regulatory, and voluntary requirements for <a target="_blank" class="" href="https://www.powerschool.com/privacy/">protecting student privacy</a>," the statement said, pointing to PowerSchool's online "<a target="_blank" class="" href="https://www.powerschool.com/blog/commitment-to-protecting-student-data-privacy/">commitment to protecting student data privacy.</a>""No PowerSchool product, including Connected Intelligence P20W, sells any form of student data," the spokesman said. "Connected Intelligence P20W provides a unified, secure, and integrated platform for education and government agencies to securely unify, integrate, and access their own source system data in a state-specific data cloud. As with all PowerSchool products, only authorized users have data access with stringent data governance as defined by the state agency. "PowerSchool began selling software to help schools track grades, attendance, and enrollment in 1996.Apple purchased the company for $62 million in 2001, then sold it to Vista Equity Partners in 2015. Vista Equity retains a minority investment stake, as does Onex Partners, according to PowerSchool's Bain merger announcement.When the deal closed on October 1, shares of the edtech leader, which had been trading as PWSC, were delisted from the NYSE.The Bain-PowerSchool deal comes on the heels of global investment firm KKR &amp; Co. Inc's $4.8 billion acquisition of the Salt Lake City-based edtech firm Instructure Holdings, Inc., <a target="_blank" class="" href="https://www.prnewswire.com/news-releases/instructure-to-be-acquired-by-kkr-for-4-8-billion-302206622.html">announced in July.</a>"It's unsurprising that private equity firms are increasingly interested in acquiring companies that have access to troves of highly valuable data," Liddell told BI.As a private company, "they will no longer be legally bound to make even the minimum disclosures required by a public company," she said.A spokesperson for Bain Capital did not respond to a request for comment on this story.

A lawsuit accuses Bain Capital's PowerSchool of trafficking in student data. The edtech giant says everything it does is legal.

<ul class="summary-list"><li>Colorado lawmakers have signed a bill aimed at protecting privacy in the burgeoning field of neurotech.</li><li>The act expands the definition of "sensitive" data to include our neural information.</li></ul>Lawmakers in Colorado have passed a law aimed at protecting a new frontier in privacy: your brain activity.Gov. Jared Polis signed the new law after it passed in the Colorado House by a vote of 61-to-1, and in the Senate 34-to-0.The bill takes aim at the growing neurotechnology industry.In simple terms, the <a target="_blank" href="https://leg.colorado.gov/bills/hb24-1058">Protect Privacy of Biological Data Act</a> expands the definition of "sensitive data" in the state's privacy laws to encompass biological and neural data."Data concerning the activity of the human brain and wider nervous systems, or 'neural data,' is extremely sensitive and can reveal intimate information about individuals, including information about health, mental states, emotions, and cognitive functioning," the bill stated.Because every brain is different, the storage of neural data "always contains sensitive information that may link the data to an identified or identifiable individual," it added.While we've grown more accustomed to the storage, processing, and increasingly the sale of private data harvested from areas like social media and wearable tech, many may balk at sharing neural data so readily.Jared Genser, cofounder of the Neurorights Foundation, which supported the bill's passage, <a target="_blank" href="https://www.nytimes.com/2024/04/17/science/colorado-brain-data-privacy.html">told The New York Times</a> that data processed by consumer neurotechnology remains largely unregulated.He said it escapes the kind of protections offered to, for example, patient data in a healthcare setting. The consumer neurotechnology industry has few household names — Elon Musk's Neuralink being one of the few to reach wider public awareness.Even so, it has <a target="_blank" href="https://www.forbes.com/sites/forbestechcouncil/2023/06/06/predicting-the-next-five-years-of-brain-breakthroughs/?sh=44b410641f3f">potential applications in almost every area of human life</a>.<a target="_blank" href="https://hbr.org/2023/03/neurotech-at-work">Neural interfaces are being developed to do everything</a> from picking up subtle signs of hard-to-track health conditions, to monitoring workplace productivity, to even <a target="_blank" href="https://www.businessinsider.com/neurons-ai-and-neuroscience-startup-raises-6-million-seed-round-2022-8">seeing how the brain responds while shopping online</a>.But the fanfare around <a target="_blank" href="https://www.businessinsider.com/neuralink-elon-musk-microchips-brains-ai-2021-2">Neuralink's first human patient</a> back in March came with <a target="_blank" href="https://www.businessinsider.com/neuralink">a chorus of ethical concerns</a> — not only around the widely-hyped uncharted territory of AI, but also around privacy.A report published by the Neurorights Foundation found worrying signs of the potential for neurotechnology start-ups to share data with third parties, The Times reported."The things that people can do with this technology are great," Rep. Cathy Kipp, who introduced the Colorado bill, told the Times. "But we just think that there should be some guardrails in place for people who aren't intending to have their thoughts read and their biological data used."

Colorado enacted a law meant to stop tech companies sharing your brain-wave data

<ul class="summary-list"><li>Airport workers in Phoenix, Charlotte describe dangerous conditions during extreme heat.</li><li>They joined fast-food and farm workers this week in demanding employers provide water, AC, and rest.</li></ul>Cecilia Ortiz walks 10 to 15 miles a day for her job at Phoenix Sky Harbor International Airport, pushing people in wheelchairs to their gates and carrying luggage.She loves her job, but it comes with risks, especially when temperatures reach triple digits for months in Phoenix. Ortiz said she sweats through her thick polyester uniform on jet bridges that aren't always air-conditioned. Access to cold water and rest breaks aren't guaranteed. Some of her colleagues who clean airplane cabins, transport luggage on the tarmac, or work as curbside agents have reported dizziness, nausea, and vomiting on the job — symptoms of heat exhaustion.Ortiz this week is joining workers in the airline, fast-food, and farming sectors in 13 cities to demand that employers provide education and training about the symptoms of heat exhaustion, develop a plan of action for getting employees medical attention, and ensure that employees have access to water, shade, air conditioning, and rest breaks. On Tuesday there were demonstrations at airports in Phoenix and <a target="_blank" class="" href="https://www.qcnews.com/charlotte/service-workers-at-charlotte-airport-protest-for-heat-protection/">Charlotte, North Carolina</a>, and on Thursday workers plan to take a coordinated drink of water and share it across social media. Several labor unions are organizing the actions.Scorching heat is becoming more common in the US and around the world. Scientists have found that the climate crisis is causing more frequent, intense, and longer-lasting heat waves. Federal data indicates that each year <a target="_blank" href="https://www.bls.gov/opub/ted/2023/36-work-related-deaths-due-to-environmental-heat-exposure-in-2021.htm">dozens of workers in the US die from heat exposure</a>. This summer, a sanitation worker for the city of Baltimore died from hyperthermia, or overheating, and the Occupational Safety and Health Administration is investigating <a target="_blank" href="https://www.usatoday.com/story/news/nation/2024/07/15/usps-worker-heat-stroke-death-wendy-johnson/74414304007/">whether a postal worker's death in North Carolina was related to the heat</a>.There are no national standards to protect indoor and outdoor workers. The Biden administration in July <a target="_blank" href="https://www.businessinsider.com/bidens-heat-standards-workers-water-shade-rest-2024-7">proposed rules for employers with workers exposed to temperatures of 80 degrees Fahrenheit</a> or higher, but it could be years before they take effect. The rules could also be scrapped if former President Donald Trump wins the election in November.Some states and cities have enacted their own policies, including California and Phoenix. This fall Maryland is expected to become the sixth state to adopt heat protections for workers. Meanwhile, Florida and <a target="_blank" href="https://www.businessinsider.com/texas-extreme-heat-construction-crews-lose-breaks-water-2023-6">Texas have blocked such protections</a> at the local level.The Phoenix City Council in April unanimously passed an ordinance requiring all city contractors and subcontractors to develop heat-safety plans for outdoor workers, including at construction sites and airports. The ordinance also requires access to rest, shade, water, and air conditioning. By 2025, closed-cab vehicles, like those that move airport baggage, must have AC.Ortiz described the ordinance as a big win but said she still hadn't seen her employer, Prospect Airport Services, make changes. The company has more than 8,500 employees at 26 airports around the US and has contracts with airlines to provide passenger services, baggage handlers, and gate agents."The ordinance took effect in April, and we're in August now, still fighting for our basic human rights to a break and water," Ortiz said.She and other airport contract workers tried to deliver a copy of the Phoenix ordinance to their supervisor on Tuesday, but he wouldn't leave his office, Ortiz said. Last August, Ortiz and 10 other employees filed a complaint with Arizona's occupational-safety authorities, who opened an investigation and conducted an on-site inspection, <a target="_blank" href="https://www.washingtonpost.com/climate-environment/2023/09/06/phoenix-excessive-heat-airport-workers/">The Washington Post reported</a>. A spokesman for the Arizona Division of Occupational Safety and Health told Business Insider they could not immediately provide information about that investigation.Unifi Aviation, the parent company of Prospect Airport Services, told BI in a statement that it had a heat-illness-prevention program that takes effect when temperatures exceed 80 degrees, adding that managers are encouraged to continuously check for signs of heat stress or illness among employees."All outdoor workers are provided with extra breaks, quick access to unlimited water, Gatorade, cooling towels and popsicles," the company said. "When possible, misting stations are also set up at the airports in partnership with airport or airline officials. Employees are also told not to sit or loiter in jet bridges for their own safety and that of those around them."In California, farm workers are especially vulnerable to extreme heat. Lourdes Cardenas is a farm worker who lives in Fresno, California, where it has reached upward of 105 degrees Fahrenheit this summer. She said even though the state has a heat protection law, companies don't always follow it. Last summer, while working in tomato fields without shade, she had a headache and vomited. She had to drive herself home to rest."Many workers don't say anything when they feel bad because they are afraid they will be fired, or because they earn so little that they feel they have to take risks to get a paycheck," Cardenas said during a press conference on Monday hosted by labor unions, including United Farm Workers.Fast-food workers at Waffle House and Starbucks told BI that AC units at some locations were broken for weeks last summer, causing the restaurants to be hotter than 80 degrees."We know that the planet is getting hotter and hotter every year, and we're seeing skyrocketing conditions for workers that people may not always think of when they think about the heat," said April Verrett, the president of the Service Employees International Union, which is helping organize this week's rallies. "Folks on jet bridges or in the kitchen, where temperatures can exceed 110 degrees — they're making these demands that it's time for employers to act now."

Airport, farm, and fast-food workers rally for better heat protections

Big banks promised to protect the planet. Now they're doing an about-face.

<ul class="summary-list"><li>My landlord tried to raise my rent by 15%, so I wrote an impassioned email.</li><li>A rent increase of that size is illegal for some buildings in NYC due to the new Good Cause Eviction law.</li></ul>It was <a target="_blank" href="https://www.businessinsider.com/new-york-city-rent-deals-landlords-holding-apartments-2021-3">lease renewal season</a> in <a target="_blank" href="https://www.businessinsider.com/nyc-rent-keeps-hitting-record-highs-despite-migration-from-city-2023-8">New York City</a>, and I was crying in Central Park.My landlord had just emailed me that my <a target="_blank" href="https://www.businessinsider.com/nyc-rent-keeps-hitting-record-highs-despite-migration-from-city-2023-8">rent was rising</a> by 15%. I had been bracing myself for an increase — my neighbors told me they had seen hikes of around 6% — but this proposal was untenable. Of course, my situation wasn't unique; plenty of New Yorkers <a target="_blank" href="https://www.businessinsider.com/cost-of-living-nyc-millionaires-wealth-tax-2023-12">find themselves priced out</a> of their apartments every year. Some never return.I called my best friend to tell him the news. His response: "How can that be legal?"The answer, it turns out, is that it no longer was legal. After an impassioned email — and a week of waiting — my landlord reversed course. They said my building was covered under the new <a target="_blank" href="https://www.thecity.nyc/2024/04/22/tenant-eviction-good-cause-rent-limits/">Good Cause Eviction law</a>, and my rent increase would instead be 8%.Of course, that is still a lot. But it is certainly cheaper than <a target="_blank" href="https://www.businessinsider.com/personal-finance/why-hiring-movers-always-good-idea-2022-7">moving</a> and was at least workable with my budget. As a New York City renter, I was shocked to learn that there was a law protecting me. New York City real estate is like the Wild West if it were incredibly overpriced, somehow even scarier, and <a target="_blank" href="https://www.businessinsider.com/nyc-studio-apartment-listing-no-bathroom-instagram-2024-2">full of sad little closets</a>."In our current housing market, landlords have an immense amount of power over our lives," Cea Weaver, the campaign coordinator of <a target="_blank" href="https://housingjusticeforall.org/">Housing Justice for All</a> — a coalition that coordinated the campaign for Good Cause — told me.But Good Cause Eviction marks something that feels increasingly rare in today's rental landscape, where units are scarce and pricing feels like a free-for-all: Some protection for renters. While the law has its own caveats, its impact might be felt immediately for many New Yorkers — especially as <a target="_blank" href="https://www.businessinsider.com/nyc-rent-apartments-prices-soaring-competition-millennial-gen-z-2021-9">summer rental season looms</a>."We have been fighting for good cause because we think it's really critical that landlords should have a good reason to raise the rent — and a good reason to push you out of your home," Weaver said.<h2 id="2f386772-dfb2-410e-b67c-5d4bf01da188">What is Good Cause Eviction?</h2>According to Ellen Davidson, a staff attorney at the Legal Aid Society who represents tenants, good cause eviction is meant to solve two key problems facing New York renters: large and unpredictable rent spikes and evictions.As Davidson told me, the law doesn't necessarily stop either of those practices but instead requires landlords to give reasons for them. In the case of an eviction, landlords need to have good cause — such as you haven't been paying rent, or their family member wants to move into the unit.Good Cause also has what's called the <a target="_blank" href="https://legalaidnyc.org/get-help/housing-problems/what-you-need-to-know-about-new-yorks-good-cause-eviction-law/">reasonable rent increase</a> measure: Buildings covered under Good Cause have limits on how much landlords can raise rent. A reasonable increase is now either 5% plus the rate of overall inflation, or 10% — whichever comes out to be lower. That's why my 15% increase was now off the table with <a target="_blank" href="https://www.businessinsider.com/inflation-cpi-food-energy-gas-prices-consumer-price-index-2024-5">CPI hovering around 3.4%</a>.<h2 id="323d2825-56cb-4334-9abe-804da018853a">How to know if your unit is protected under Good Cause</h2>Like many aspects of the New York City renting experience, Good Cause Eviction isn't completely straightforward. Not every building or unit is covered under the legislation."There's a little bit of a maze when it comes to figuring out if good cause applies to you," Allia Mohamed, co-founder and CEO of leasing and landlord review platform openigloo, told me.For instance, buildings built after 2009 are exempt, as are ones where the landlord owns fewer than 10 units. If your apartment is <a target="_blank" href="https://www.businessinsider.com/nyc-renter-landlord-overcharged-rent-stabilized-apartment-lawsuit-backpay-2024-2">rent-stabilized</a>, it's also not covered. Co-ops and condos aren't covered, and neither are some buildings where the landlord lives on the premises. Mohamed's platform, openigloo, has a <a target="_blank" href="https://www.openigloo.com/blogs/what-is-good-cause-eviction-what-does-it-mean-for-new-yorkers">good rundown</a> of the carve-outs — and the platform also has badges for buildings that are covered, if you want to search yours, like I did.With those carveouts, the new law might still not be enough to truly move the needle on broader rental costs."The final version cut out a lot of people, so it still remains to be seen on whether or not it will change market behavior, but it still will cover 500,000 households," Weaver said.Per Mohamed and openigloo's data analysis, a good chunk of buildings in ultra-pricey Manhattan are covered under the new law.But while the picture may look bleaker for more residential outer boroughs, Mohamed notes that the shares are skewed by more buildings being single-family homes. By extrapolating that 55% of units in those boroughs are likely covered — since that's the percentage of units across the city that are not regulated — Mohamed estimates that around 93% of units in the Bronx and 46% in Brooklyn are covered.While determining whether you're covered right now may seem like a bit of guesswork, that should be cleared up soon."There is a disclosure requirement that landlords need to give to their renters if good cause applies to them, but they have four months to catch up with the disclosure requirements," Mohamed said. "So there is a bit of this window right now in New York City where landlords are not obligated to tell tenants yet, but good cause has gone into effect already."For renters on the summer cycle, that's both good and bad news: The law applies to you, but, like me, you might have to seek it out. Landlords don't have to start those disclosures until August 20th.<h2 id="6a7dc838-f053-4d4a-911d-40ecb4bf7b9e">What to do if your rent is way too high</h2>If you receive a shocking rent increase, take some deep breaths — and also feel free to cry it out in Central Park. Then, go and check if your building is covered. If it is, a rental increase above 10% isn't necessarily illegal, but it requires more explanation.Under the new legislation, landlords can try to raise rent above that standard, but "they have to actually talk to their tenants and tell them why they're increasing the rent," according to Davidson. It could be that your landlord had to install a new roof or boiler or put other money into the building that could merit an increase.But if talking through the increase fails, renters can then do a few things. Of course, <a target="_blank" href="https://www.businessinsider.com/evictions-roaring-back-rents-rise-affordable-housing-stalls-2023-6">going to court</a> may be daunting — and a particular strain for New Yorkers who don't have the time or resources to prepare for a battle. Sometimes, a well-articulated email communicating that you know your rights can do the trick, Mohamed said."Usually all that it takes is just sending a quick email and saying, 'Hey, I'm a bit surprised by this 15% increase. I was under the impression that this building falls under the good cause eviction umbrella. Let me know the next steps before I flag this to the city or to my attorney or to whomever,'" she said. After all, many landlords may want to avoid the costs of a court battle.In my case, a long email resulted in <a target="_blank" href="https://www.businessinsider.com/personal-finance/how-to-negotiate-rent-apartment-2020-12">my rent increase going down</a>. But I also have the resources to know the economic landscape of the city and the country — I am, in fact, an economics reporter. English is also my first language, unlike other renters in the city, again giving me a leg up in pushing back. But for some, court may have to be the way to go."The way to challenge it is to either not sign the lease and then get taken to court for not signing your lease and then defend saying, 'this increase is too high,' or to pay the old amount and not the new amount, get taken to court for a nonpayment case and defend that the rent is too high," Davidson said.That might still mean a power balance weighted against renters — and one that requires further action."What people need to know is that you have these rights and the best way to enforce them is if you're collectively working with your neighbors," Weaver said.It's a power-in-numbers situation: When just one tenant like me goes against a landlord, they might be able to change their circumstance. But that's not a guarantee."They are going to have the money — that's your rent money — to hire every lawyer under the sun to try to fight you," Weaver said. "I think it's really important that tenants spend time together organizing in order to make sure that these rights are enforced."Will Good Cause Eviction change or impact your life? Contact this reporter at <a target="_blank" href="mailto:jkaplan@businessinsider.com">jkaplan@businessinsider.com</a>.

I dodged a 15% rent increase because of a new NYC housing protection law. Here's how to know if it could save you money.

As India’s start-up ecosystem matures, a new trend is emerging: <keyword id="23791918" type="General" weightage="20" keywordseo="micro-acquisitions" source="Orion">micro-acquisitions</keyword>. This approach – focussed on buying smaller businesses – has become increasingly popular among Indian entrepreneurs looking for cost-effective growth avenues. Platforms like <keyword id="23791917" type="General" weightage="20" keywordseo="flippa" source="keywords">Flippa</keyword> are at the forefront of this shift, facilitating these transactions by offering a user-friendly, data-rich environment where buyers and sellers can connect seamlessly. In a country that has seen rapid growth in entrepreneurship, micro-acquisitions represent a shift from the traditional emphasis on large scale deals. And this trend is being fuelled by an influx of domestic funds and micro venture capital (VC) firms dedicated to nurturing early-stage startups. <h2>Changing Mindsets: Why Micro-Acquisitions?</h2>Entrepreneurs are turning to micro-acquisitions for the flexibility, speed and cost-efficiency that they offer. By targeting smaller, less capital intensive deals, they are able to side step the complexities of a traditional M&amp;A, making it a viable pathway for expansion and growth. Besides these can also help entrepreneurs diversify their holdings and adapt to market demands without overcommitting resources. Flippa allows Indian entrepreneurs to access a global marketplace where they can identify businesses aligned with their objectives. <h2>The M&amp;A Landscape in India</h2>While the US mergers and acquisitions market has seen slower growth, private capital inflows in India are on the rise, according to <a href="https://www.pwc.com/gx/en/services/deals/trends/private-capital.html">PwC</a>. The second quarter of 2024 proved to be a landmark period for Indian startups, with a 57% year-on-year surge in megadeals driving fundraising to an eight-quarter high of $5.2 billion, as reported by <a href="https://www.dealstreetasia.com/reports/india-deal-review-q2-2024">Deal Street Asia</a>. Flippa has capitalised on this trend. A marketplace founded in 2009 for buying and selling online businesses, it has amassed over 3 million users worldwide. As of <a href="https://flippa.com/data-insights?buy_sell=PR_DataInsights_EmbedGraphs">October 2024</a>, Flippa had 396,000 active buyers on its platform with a combined wallet of $75 billion, an increase of 15,000 active buyers month-on-month. This broad, engaged user base gives Indian entrepreneurs a diverse pool of acquisition targets, from digital properties to app-based ventures. Notably, data-driven app acquisition companies like KalaGato leverage Flippa to identify the right opportunities. “If you’re trying to get into the market, a platform like Flippa is a great place to start,” said Aman Kumar, Founder of KalaGato. <h2>Cutting Edge Technology At Work</h2>Flippa’s technology sets it apart, using a proprietary <a href="https://flippa.com/product/recommender-engine">matching algorithm</a> powered by an AI-driven graph neural network that assesses over 100 factors to match buyers and sellers. This technology streamlines the acquisition process, helping entrepreneurs find suitable opportunities more efficiently, especially in a crowded market like India, where navigating business brokers or directly approaching potential sellers can be time-consuming and fraught with challenges. “Flippa as a platform is continuously evolving. Once you start looking at exits or the potential to exit a business, then a platform like Flippa is super useful,” Kumar adds, emphasising the platform's adaptability to the needs of modern entrepreneurs. Another standout feature is its <a href="https://flippa.com/product/deal-room">multi-user Deal Room</a>. This comprehensive digital sales hub allows users to manage the entire sales process for online businesses and digital assets in one place. Sellers can communicate with buyers in real time, filter messages, and review offers and Letters of Intent (LOIs) within the Deal Room itself. This organisation is particularly helpful for entrepreneurs who may be overwhelmed by the volume of inquiries when trying to sell their business. The Deal Room provides real-time notifications about buyer engagement, ensuring that users can respond promptly and keep negotiations moving forward. Buyers are invited to the Deal Room on a scheduled basis, creating a structured interaction environment. <h2>Prioritising Security and Trust</h2>A secure transaction environment is crucial, especially for entrepreneurs new to acquisitions. Flippa’s <a href="https://flippa.com/product/insurance">insurance</a> policies offer this layer of security for both buyers and sellers. The Buyer Protect policy safeguards buyers against financial losses resulting from seller misrepresentation or breaches of warranty, covering up to 100% of the enterprise value of the business. Meanwhile, the Seller Protect policy shields sellers from potential financial losses, creating a balanced environment for transactions. This dual protection reinforces trust and allows the involved parties to focus on growth without worrying about potential hidden risks. <h2>Market Insights for Informed Decision-Making</h2>To further assist users in making informed decisions, <a href="https://flippa.com/product/market-insights/">Flippa Market Insights</a> provides valuable data on online businesses and digital assets. This tool enables users to compare prices of similar businesses, benchmark performance metrics like average order value and customer lifetime value, and access real-time sales data, including historical performance information. Users can filter this data by time period, business model, and price point, ensuring they have the insights needed to navigate the acquisition landscape effectively. Flippa’s expert vetting team reviews the stated financial performance of every asset priced above USD $50,000, providing an additional layer of credibility to the listings. <h2>A Bright Future for Micro-Acquisitions in India</h2>With the Indian startup ecosystem thriving and the appetite for micro-acquisitions only expected to grow, Flippa stands at the forefront by connecting ambitious entrepreneurs with the resources they need to succeed. Whether you’re an established business owner looking to expand your portfolio or a newcomer eager to dip your toes into entrepreneurship, Flippa offers a wealth of opportunities in this exciting landscape. So, if you are interested in starting your exit journey, get a free valuation for your business here - <a href="https://flippa.com/free-valuation">get a FREE valuation</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

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