Tuesday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Tuesday’s business headlines.

Eviction

More than 11 million Americans are behind on their rent and many could face eviction when the national housing protection expires in June.

Housing advocates say the ban is lifting at a terrible time for property owners and tenants alike, with states still scrambling to distribute the $45 billion in rental assistance.

The Centers for Disease Control and Prevention’s eviction moratorium, which has been in effect since September, will lift on June 30.

Bank fees

Overdraft revenue at banks fell in 2020 for the first time in six years.

With nowhere to go when COVID-19 hit, many people curbed their spending. Stimulus money helped them pad their bank accounts and banks were also more lenient about waving fees.

Still Moebs Services says financial firms brought in $31 billion in overdraft fees.

Carnival

Carnival Corporation’s flagship cruise line was given the green light by the Centers for Disease Control and Prevention to begin sailing from three U.S. ports.

It’s Carnival Horizon ship, leaving from Miami and the Carnival Vista and Breeze ships, leaving from Galveston, will be the first to carry passengers in July.

Alzheimer’s drug

The FDA is expected to make one of its most important decisions in years: Whether to approve the drug for mild cognitive impairment or early-stage dementia caused by Alzheimer’s. It would be the first treatment ever sold to slow the deterioration in brain function caused by the disease, not just to ease the symptoms and it would be the first new Alzheimer’s treatment since 2003.

Some believe it’s an important fight in the battle against the disease but critics argue the drug’s trial data falls far short of proving the drug works.

The drug’s maker, Biogen, says the medication, by slowing the disease, gives patients valuable time to be with their families and to perform everyday tasks such as cleaning and shopping.