New York Subpoenas Life Insurance Companies

(NEW YORK) -- New York's attorney general has served subpoenas to nine insurance companies, according to The Wall Street Journal. Attorney General Eric Schneiderman is investigating how long it takes for  insurance benefits to be paid out to a deceased client's family members.

The insurance companies' efforts to locate beneficiaries and the companies' procedures for turning over unclaimed property to the state will also be examined.

Subpoenas were sent to MetLife Inc, New York Life Insurance Co., Prudential Financial Inc., and TIAA-CREF, among other companies.

Copyright 2011 ABC News Radio

Walmart Donates $4M to NYC Youth Employment Program

(NEW YORK) --  On Tuesday, Mayor Michael Bloomberg announced  Walmart is donating $4 million to support the city's Summer Youth Employment Program.

While more than 30 businesses are donating money to help create summer jobs for local teens, Walmart's donation is the largest.

The donations will pay for about 3,400 more city children to participate in the program.

The financial boost comes amid a campaign by Walmart to secure a location in the city -- something Bloomberg acknowledged when announcing the retail giant's donation.

Copyright 2011 ABC News Radio

Cuomo Signs State's First Property Tax Cap

(NEW YORK) -- Governor Andrew Cuomo has a message for homeowners and taxpayers of New York: relief is on the way.

Cuomo signed the state's first property tax cap Tuesday. Under the new law, property tax increases will be capped at 2 percent or the rate of inflation, whichever is less. Currently, New York's property tax is nearly double that of the national average with a median bill of $3,755 per household.

Under the new legislation, local voters can trump the cap with a 60 percent vote on the budget for school boards or relevant legislative bodies.

Autopsy Expected on Bloomington Body

(NEW YORK) -- The Indiana Police Department reported that a woman’s decomposing body was found in a creek 50 miles from the Bloomington apartment where a missing New York student was last seen.

Officials say they could not determine the age or race of the body they found; an autopsy is expected on Tuesday. Indiana police are investigating a possible link to the case of missing 20-year-old Lauren Spierer from Edgemont, New York.

The Westchester native was last seen on June 3 after a night out drinking with friends from the University of Indiana in Bloomington.

Copyright 2011 ABC News Radio

NY Judges Leave Bench amid 12 Year Pay Freeze

(NEW YORK) -- Many New York judges are stepping down from the bench and turning to private practices, according to a study by the National Center for State Courts.

The judicial compensation of New York judges hasn't risen in twelve years, bringing the state's pay for judges to 46th place nationwide.

Estimates show private practice jobs as paying nearly ten times more than those in the public sector.

Copyright 2011 ABC News Radio