The Daily Money: Revisiting California's $20 minimum wage

Good morning! It’s Daniel de Visé with your Daily Money.

Remember when all those California restaurateurs warned of big job losses and price hikes if the state raised its minimum wage?

AB 1228 went into effect in the Golden State on April 1, setting a $20 per hour minimum wage for those working at fast food restaurants with less than 60 locations nationwide and restaurants located inside airports, stadiums and convention centers.

Now, James Powel reports, a new study from the University of California Berkeley finds that those feared consequences pretty much didn't happen.

Vegas legend implodes

The Tropicana had a lengthy history, by Las Vegas standards.   

The hotel-casino debuted in 1957, Bailey Schulz reports. Nicknamed the "Tiffany of the Strip" for its grandeur, the resort made a name for itself through its entertainment offerings, with stages showcasing the long-lasting showgirl revue Folies Bergere and big-name jazz performers like Louis Armstrong.  

The property stood for nearly 70 years on the Strip.  

Bringing it down took less than 30 seconds.   

Lawsuit: Colleges overcharged divorced parents

An antitrust lawsuit filed this week accuses some of America’s wealthiest colleges and universities of overcharging students with divorced or separated parents. 

The federal class action that landed Monday in Illinois district court says 40 private colleges – including Harvard University, Yale University, the Massachusetts Institute of Technology and Stanford University – conspired to keep prices high for students with “noncustodial parents,” Zachary Schermele reports.  

The lawsuit dives deep into the weeds of student aid.  

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

Daniel de Visé covers personal finance for USA Today.