Years before dazzling NBA fans, Sixers rookie Jared McCain built a big following on social media by posting videos of his infectiously upbeat dance moves. With millions of followers on Instagram and TikTok, McCain is now using his platform to promote online safety and educate people about sextortion. On Monday, McCain posted a video on Instagram talking about the ways scammers intimidate victims by threatening to expose their nude photos unless they send money or comply with other demands. The video is part of a campaign Instagram launched to raise awareness of sextortion, which often target minors and young adults on social media. MORE : Kylie Kelce's podcast knocks Joe Rogan off top of Apple, Spotify charts "Sextortion is when you ask somebody for nude photos or videos and then they blackmail you," McCain said in the video. "Sometimes people even catfish you and pretend to be someone they aren't to get you to send nudes and demand you send them money." A post shared by Jared Mccain (@jmccain24) From October 2021 to March 2023, the FBI and Homeland Security Investigations received over 13,000 reports of sextortion against minors, particularly targeting boys between 14 and 17 years old, the FBI's Philadelphia field office said Tuesday. These cases led to at least 20 suicides, the two agencies said. Investigators find that many scammers work together to target thousands of victims, often acting across state lines and from overseas. Meta, Instagram's parent company, said it chose to work with McCain and other influential voices as a way to reach a wide audience of young people who look up to them. McCain's breakout rookie season for the Sixers has drawn more attention to his dancing and eccentricities — including his black polished fingernails — on his social media accounts. He's talked openly about learning how to deal with hateful messages he gets online and how to confidently navigate the pitfalls of social media. For its campaign on sextortion, Instagram also partnered with influencers Brent Rivera and Bella Poarch to make videos similar to McCain's. The app also plans to work with creators who have large followings among parents to give tips on how to talk to their kids and keep them safe. One of the key messages about combatting sextortion is that people targeted by these scams shouldn't feel embarrassed to report predators to social media apps and police. Removing the stigma surrounding sextortion allows the apps and law enforcement to prevent further victimization. McCain explains in his video that there are a number of red flags that point to sextortion. Getting follows and direct message requests from strangers should be viewed with caution, and it should also be concerning when these accounts aggressively seek nude photos in messages. Scammers may share their own nudes first as enticement, but these photos often are not legitimate. Some may even be AI-generated. It's also a common tactic for scammers to try to quickly move the conversation off the app to text messages, email and video chat platforms that make it easier for them to capture nude images and videos. "The most important thing to remember is that it's not your fault," McCain said. "You are not alone and you will get through it. Just stop responding to these scammers. Don't pay them. Block the scammer and report the chat to Instagram. They can look into and help make sure these scammers' accounts get removed." Meta is rolling out a number of new features on Instagram and Facebook to prevent sextortion, in addition to new teen accounts that come with built-in protections and content restrictions. Many scammers use lists of followers on accounts to find their targets. Instagram will now restrict suspicious accounts from having access to these lists, and the accounts also will be prevented from seeing lists of accounts that have liked someone’s posts and photos in which they’ve been tagged. For another new feature, Instagram plans to start blocking screenshots and recordings of images from within private messages on mobile devices. The mobile app already has "view once" and "allow replay" features that help manage access to photos. These features will no longer be available on web versions of Instagram to prevent scammers from using desktop methods to take screenshots. For accounts held by minors, a nudity protection feature also will become a default setting in direct messages. Any nude photos sent and received will be blurred, and a message will appear warning about the risks of sending such images. People who have had their nude photos shared online also have resources they can use to get them removed. The National Center for Missing & Exploited Children (NCMEC) has a free service, Take It Down , that helps pull sexually explicit images from the internet and prevents them from being further shared. The FBI's Philadelphia field office said education is key to protecting people from sextortion. "We implore parents, educators, caregivers, and children to learn more about the steps they can take to protect themselves and their loved ones from this deplorable crime, as well as support victims in coming forward," FBI special agent in charge Wayne A. Jacobs said in a statement. If you or someone you know believes that they are a victim of sextortion, police urge that these crimes immediately be reported to law enforcement. Reports can be made to the FBI by calling 1-800-CALL-FBI or visiting tips.fbi.gov .Mbappe, Vinicius and Bellingham on target as Real Madrid beats Atalanta 3-2. Liverpool wins againIBM enables AI training at light speed while sipping power
Stock indexes drifted to a mixed finish on Wall Street as some heavyweight technology and communications sector stocks offset gains elsewhere in the market. The S&P 500 slipped less than 0.1% Thursday, its first loss after three straight gains. The Dow Jones Industrial Average added 0.1%, and the Nasdaq composite fell 0.1%. Gains by retailers and health care stocks helped temper the losses. Trading volume was lighter than usual as U.S. markets reopened following the Christmas holiday. The Labor Department reported that U.S. applications for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. Treasury yields fell in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Stocks wavered on Wall Street in afternoon trading Thursday, as gains in tech companies and retailers helped temper losses elsewhere in the market. The S&P 500 was up less than 0.1% after drifting between small gains and losses. The benchmark index is coming off a three-day winning streak. The Dow Jones Industrial Average was up 10 points, or less than 0.1%, as of 3:20 p.m. Eastern time. The Nasdaq composite was up 0.1%. Trading volume was lighter than usual as U.S. markets reopened after the Christmas holiday. Chip company Broadcom rose 2.5%, Micron Technology was up 1.3% and Adobe gained 0.8%. While tech stocks overall were in the green, some heavyweights were a drag on the market. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, slipped 0.1%. Meta Platforms fell 0.5%, Amazon was down 0.4%, and Netflix gave up 0.7%. Tesla was among the biggest decliners in the S&P 500, down 1.4%. Health care stocks helped lift the market. CVS Health rose 1.4% and Walgreens Boots Alliance rose 3.9% for the biggest gain among S&P 500 stocks. Several retailers also gained ground. Target rose 3.1%, Ross Stores added 1.8%, Best Buy was up 2.5% and Dollar Tree gained 3.6%. Traders are watching to see whether retailers have a strong holiday season. The day after Christmas traditionally ranks among the top 10 biggest shopping days of the year, as consumers go online or rush to stores to cash in gift cards and raid bargain bins. U.S.-listed shares in Honda and Nissan rose 4.2% and 15.9%, respectively. The Japanese automakers announced earlier this week that the two companies are in talks to combine. Traders got a labor market update. U.S. applications for unemployment benefits held steady last week , though continuing claims rose to the highest level in three years, the Labor Department reported. Treasury yields turned mostly lower in the bond market. The yield on the 10-year Treasury fell to 4.58% from 4.59% late Tuesday. Major European markets were closed, as well as Hong Kong, Australia, New Zealand and Indonesia. Trading was expected to be subdued this week with a thin slate of economic data on the calendar. Still, U.S. markets have historically gotten a boost at year’s end despite lower trading volumes. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3% since 1950. So far this month, the U.S. stock market has lost some of its gains since President-elect Donald Trump’s win on Election Day, which raised hopes for faster economic growth and more lax regulations that would boost corporate profits. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation , a bigger U.S. government debt and difficulties for global trade. Even so, the U.S. market remains on pace to deliver strong returns for 2024. The benchmark S&P 500 is up roughly 26% so far this year and remains near its most recent all-time high it set earlier this month — its latest of 57 record highs this year. Wall Street has several economic reports to look forward to next week, including updates on pending home sales and home prices, a report on U.S. construction spending and snapshots of manufacturing activity. ___ AP Business Writers Elaine Kurtenbach and Matt Ott contributed. Alex Veiga, The Associated Press
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CHARLOTTE, N.C. , Dec. 26, 2024 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM (CUSIP No. 060505FR0), liquidation preference $25,000 per share (the "Preferred Stock"), and the corresponding depositary shares each representing a 1/25 th interest in a share of the Preferred Stock (CUSIP No. 060505FQ2) (the "Depositary Shares"). The Depositary Shares will be redeemed simultaneously with the Preferred Stock on the upcoming dividend payment date on January 28, 2025 (the "Redemption Date"), at a redemption price of $1,000 per depositary share. Declared dividends of $21.50 per depositary share in respect of the outstanding Depositary Shares for the full current semi-annual dividend period from, and including, July 28, 2024 to, but excluding, January 28, 2025 will be paid separately on January 28, 2025 , to holders of record on January 1, 2025 , in the customary manner. Accordingly, the redemption price of $1,000 per depositary share does not include any accrued and unpaid dividends. Dividends on the redeemed Depositary Shares will cease to accrue on the Redemption Date. The Depositary Shares are held through The Depository Trust Company ("DTC") and will be redeemed in accordance with the applicable procedures of DTC. Payment to DTC for the Depositary Shares will be made by Computershare Inc. and Computershare Trust Company, N.A., collectively, as redemption agent. The address for the redemption agent is as follows: Computershare Trust Company, N.A. Attn: Corporate Actions 150 Royall St. Canton, MA 02021 This press release does not constitute a notice of redemption under the certificate of designation governing the Preferred Stock or the deposit agreement governing the Depositary Shares. Bank of America Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States , serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States , its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. Forward-Looking Statements Certain information contained in this news release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 , and in any of our subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts . www.bankofamerica.com Investors May Contact: Lee McEntire , Bank of America Phone: 1.980.388.6780 lee.mcentire@bofa.com Jonathan G. Blum , Bank of America (Fixed Income) Phone: 1.212.449.3112 jonathan.blum@bofa.com Reporters May Contact: Jocelyn Seidenfeld , Bank of America Phone: 1.646.743.3356 jocelyn.seidenfeld@bofa.com View original content to download multimedia: https://www.prnewswire.com/news-releases/bank-of-america-announces-full-redemption-of-its-series-mm-preferred-stock-and-related-depositary-shares-302338391.html SOURCE Bank of America Corporation
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RICHMOND — Gov. Glenn Youngkin on Tuesday announced that he is asking the legislature for an additional $290 million to support school construction and modernization efforts across Virginia. This latest investment would bring the total funding for the current biennium to $700 million and raise the state’s overall contribution under Youngkin’s administration to nearly $2 billion. Youngkin’s funding request is included in his proposed budget amendments, which he plans to present next week at a joint meeting of the General Assembly’s money committees. According to the governor’s office, the state’s financial commitments have spurred an estimated $3.4 billion in total funding for school construction. The additional support would be made possible through a combination of local government contributions and federal matching funds. “Over the last three years, we have invested historic amounts in our education system, including our public school facilities,” Youngkin said in a statement. “Our record economic growth and the resulting surplus allows us to make this critical investment to ensure every Virginia student has access to high-quality school facilities that support academic success.” Youngkin plans to use the newly announced $290 million in non-general funds to expand competitive grant opportunities for school divisions, particularly in high-need areas. The money would also address critical infrastructure issues, supporting the construction and renovation of schools in urgent need of repair. State officials say the increased funding will provide K-12 students with safer, more conducive learning spaces, a move that has been welcomed by educators and community leaders alike. Local school divisions will be able to apply for grant support to fast-track modernization projects that may have been delayed due to funding shortfalls. The Youngkin administration has framed the initiative as part of a broader effort to support Virginia’s educational system and improve outcomes for students. As schools across the state face aging infrastructure and capacity challenges, this investment aims to reduce disparities in facility quality, especially in underserved areas. “One of our guiding principles since day one of the Youngkin Administration has been to provide safe, vibrant, and healthy learning environments for all of our students,” said Secretary of Education Aimee Guidera. “This investment in supporting new and refurbished school buildings makes it possible for every community in the commonwealth to have the means to provide a best-in-class education that prepares every student for success in our increasingly demanding knowledge- and skills-based economy.” Del. Candi Mundon King, D-Prince William, a member of the Commission on School Construction and Modernization, said that while she welcomed Youngkin’s proposal, she needed more information. “We have been screaming from the rooftops about more money for school construction and ensuring that localities have what they need, so I’m glad to see that he’s trying to get on board,” Mundon King said. “It is clear that we need to put more money into school construction, but I can’t say more without seeing a fully fleshed out plan. So I’m looking forward to his presentation next week with the joint money committees so we can fully evaluate what this proposal actually is, and not just some slick press release that doesn’t go into detail.” In 2022, Youngkin’s first year in office, the General Assembly in a bipartisan effort approved a historic $1.2 billion investment in school construction, aiming to modernize aging facilities and reduce funding disparities among school divisions. The sweeping plan combined grants and loans to support renovations, new construction, and capacity expansion for K-12 schools across the commonwealth. Of the $1.2 billion, about $850 million was allocated for grants. This included $400 million in formula-based grants, which provided each of Virginia’s 134 school divisions with a $1 million base allocation. The remaining $266 million was distributed based on the Local Composite Index (LCI) — a state funding formula that considers factors like property values, taxable sales and population data to assess a locality’s financial ability to support its schools. Another $450 million was funneled into the newly created School Construction Fund and Program, a competitive grant program designed to assist divisions with the most critical infrastructure needs. School systems with poor building conditions and limited financial capacity could apply for these funds to support construction, renovation, or expansion projects. This program is primarily funded by 98% of gaming revenue from Virginia’s four new casinos in Bristol, Danville, Portsmouth, and Norfolk. The fund is administered by the Virginia Board of Education. Virginia faces a mounting crisis with school infrastructure. Data released by the Virginia Department of Education in 2022 revealed that nearly 1,000 school buildings across the state are at least 50 years old. Replacing these facilities would cost more than $25 billion — a figure far beyond the capacity of most localities. Traditionally, local governments have shouldered the financial burden of school construction, relying on local tax revenue. But for economically distressed areas, particularly in Southwest Virginia and Southside, this has become an increasingly difficult challenge due to population decline and economic hardship. But in April, Youngkin vetoed a bill lawmakers sent to his desk that would have allowed localities to implement a 1% sales tax to help cover the costs of school construction and modernization. The proposal required voter approval through a referendum before the tax could be enacted by local governments. Youngkin acknowledged that school construction is a “worthy cause” but argued that Virginia has already taken substantial steps to address those costs. He contended that citizens should not face additional taxes, particularly the $1.5 billion annually that would have been raised by the 1% sales tax. “The commonwealth should pursue a tax policy that unleashes economic development and prioritizes job and wage growth through innovative reforms,” Youngkin said in his veto. “These reforms must allow hardworking Virginians to keep more of their money, not less; any proposal that increases the cost of living and the cost of business is not a policy we should pursue.” Prior to 2022, state assistance for school construction was limited, with much of it coming from the Literary Fund, a state-managed pool of money established in Virginia’s Constitution. Funded by sources such as unclaimed lottery winnings, criminal fines, and unclaimed property, the Literary Fund historically provided low-interest loans to support school construction and debt service for technology. However, in recent years, much of the fund’s revenue was redirected to cover teacher retirement costs, leaving fewer resources for school building projects. The 2022 legislative session retooled the Literary Fund’s loan program, significantly increasing its impact. Lawmakers raised the maximum loan amount from $7.5 million to $25 million and capped the interest rate at 2%. These changes made it more feasible for school divisions to finance major construction projects at a lower cost. With the state’s total contribution now approaching $2 billion, education advocates are hopeful the increased funding will lead to long-term improvements in school facilities and better learning conditions for students throughout the commonwealth. Virginia Board of Education President Grace Creasey said Tuesday that the panel will prioritize “those school divisions in greatest need that have missed out on prior grant opportunities,” especially rural divisions. “We also know that school divisions are eager to adopt seat time flexibility and competency-based models which requires us to design learning environments and spaces differently. This new investment will make this possible,” Creasey said.CHARLOTTE, N.C. , Dec. 26, 2024 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM (CUSIP No. 060505FR0), liquidation preference $25,000 per share (the "Preferred Stock"), and the corresponding depositary shares each representing a 1/25 th interest in a share of the Preferred Stock (CUSIP No. 060505FQ2) (the "Depositary Shares"). The Depositary Shares will be redeemed simultaneously with the Preferred Stock on the upcoming dividend payment date on January 28, 2025 (the "Redemption Date"), at a redemption price of $1,000 per depositary share. Declared dividends of $21.50 per depositary share in respect of the outstanding Depositary Shares for the full current semi-annual dividend period from, and including, July 28, 2024 to, but excluding, January 28, 2025 will be paid separately on January 28, 2025 , to holders of record on January 1, 2025 , in the customary manner. Accordingly, the redemption price of $1,000 per depositary share does not include any accrued and unpaid dividends. Dividends on the redeemed Depositary Shares will cease to accrue on the Redemption Date. The Depositary Shares are held through The Depository Trust Company ("DTC") and will be redeemed in accordance with the applicable procedures of DTC. Payment to DTC for the Depositary Shares will be made by Computershare Inc. and Computershare Trust Company, N.A., collectively, as redemption agent. The address for the redemption agent is as follows: Computershare Trust Company, N.A. Attn: Corporate Actions 150 Royall St. Canton, MA 02021 This press release does not constitute a notice of redemption under the certificate of designation governing the Preferred Stock or the deposit agreement governing the Depositary Shares. Bank of America Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States , serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States , its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. Forward-Looking Statements Certain information contained in this news release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 , and in any of our subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts . www.bankofamerica.com Investors May Contact: Lee McEntire , Bank of America Phone: 1.980.388.6780 lee.mcentire@bofa.com Jonathan G. Blum , Bank of America (Fixed Income) Phone: 1.212.449.3112 jonathan.blum@bofa.com Reporters May Contact: Jocelyn Seidenfeld , Bank of America Phone: 1.646.743.3356 jocelyn.seidenfeld@bofa.com View original content to download multimedia: https://www.prnewswire.com/news-releases/bank-of-america-announces-full-redemption-of-its-series-mm-preferred-stock-and-related-depositary-shares-302338391.html SOURCE Bank of America Corporation