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Photo: Spencer Platt/Getty Images

An internal, 3-year State Department investigation into former Secretary of State Hillary Clinton's private emails has found 38 people culpable, and those still at the department could be disciplined with letters in their files, the AP reports.

The bottom line: The 38 current or former State employees were not named in a letter to Congress outlining the findings. The investigation found they sent classified information that ended up in Clinton's private inbox, according to the AP. The investigation covered more than 33,000 emails, but found no one liable in 497 of the 588 violations it found.

Why it matters: Now-President Trump made the emails and server a major focus of his presidential campaign when he ran against Clinton in 2016 and still raises the issue in his re-election campaign. Then-FBI Director James Comey that year criticized Clinton's "extremely careless" use of a private email server, but the FBI recommended no charges. The Justice Department inspector general in 2016 found no evidence that Clinton's private server had been hacked.

Go Deeper: Comey gets contentious with House Republicans in closed door session

Go deeper

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Trump blocks banks from limiting loans to gun and oil companies

Illustration: Sarah Grillo/Axios

Big banks are no longer allowed to reject business loan applicants because of the industry in which they operate, according to a new rule finalized on Thursday by the Trump administration.

Why it matters: Wall Street has curtailed its exposure to industries like guns, oil and private prisons, driven by both public and shareholder pressures. This new rule could reverse that trend.

Former FDA commissioner: "Reliable drug supply is absolutely critical"

Axios' Caitlin Owens and former FDA commissioner Mark McClellan. Photo courtesy of Axios Events

Having a reliable supply of pharmaceutical drugs throughout America will be "absolutely critical" to boosting affordability in health care during the Biden administration, former Food and Drug Administration (FDA) commissioner Mark McClellan said at a virtual Axios Event on Friday.

The big picture: McClellan, who served under President George W. Bush, says drugs having limited supply and limited competition leads to elevated pricing. He considers drug supply to be a national security and public health issue.

Felix Salmon, author of Capital
4 hours ago - Economy & Business

Americans are still spending money

Source: Census Bureau; Chart: Axios Visuals

Americans spent more money at stores and restaurants in 2020 than they did in 2019 — even in the face of a devastating global pandemic that shut down broad sectors of the economy.

Why it matters: The monthly retail sales report this morning came in well below expectations, and showed consumer spending falling on a seasonally-adjusted basis. Total expenditures were still higher in December 2020 than they were a year previously, however.