Police arresting a protestor against police brutality. Photo: Bastiaan Slabbers/NurPhoto via Getty Images

A new study has found that police brutality in cities like Chicago, Cleveland, Los Angeles and Milwaukee has cost taxpayers $1.87 billion by accruing bonds from financial institutions.

The big picture: Beyond the ethical and legal issues it presents, police brutality and misconduct is also a financial problem, and communities across the country are left to pick up the tab.

Methodology: Researchers at the The Action Center on Race and the Economy followed up on a Wall Street Journal story identifying the cost of police misconduct, and used Freedom of Information Act Requests (FOIA) along with documents from local and state governments to calculate how much departments were spending in settlements and interest payments to banks.

  • The report isn't comprehensive, said Carrie Sloan, a research director at ACRE. But to focus their research the team looked at cities and counties with high settlement costs, a high number of investigations from the Department of Justice, and high accusations of police abuse.

The findings: Banks like Wells Fargo, Goldman Sachs, Bank of America, and other smaller regional banks are profiting from growing interest on police brutality bonds. Cities often have to put out bonds, the study says, because they face big, unexpected payouts.

  • Many of the communities involved are over-policed, said Maurice Weeks, co-executive director of ACRE, and they end up losing money that could be put elsewhere.

Be smart: This report offers a new perspective on the issue of police accountability. Despite policy brutality being a hot-button issue in the U.S., officers' misconduct has yet to be reined in.

The bottom line: The study recommends that officers be mandated to take out individual liability insurance policies to clear settlement expenses. It also advises that governments hold officers accountable by being transparent about settlements, including identifying the officers responsible and how they're paid for.

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Natural gas pipeline project cancelled after Supreme Court victory

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Dominion Energy announced Sunday it has agreed to sell its natural gas transmission and storage network to Warren Buffett's Berkshire Hathaway in a deal valued at $10 billion, including the assumption of debt.

Why it matters: The deal comes as Duke Energy Corp. and Dominion Energy announced they are canceling their plans for the $8 billion Atlantic Coast Pipeline following a Supreme Court ruling. The ruling removed major hurdles for the companies, but "recent developments have created an unacceptable layer of uncertainty and anticipated" for the project.

Trump campaign "strongly" encourages face masks at outdoor rally

Photo: Jabin Botsford/The Washington Post via Getty Images

The Trump campaign will be providing face masks and hand sanitizer for all attendees at an upcoming rally Saturday in Portsmouth, New Hampshire.

  • The campaign said in an email on Sunday that attendees are "strongly encouraged" to wear the masks.

Why it matters: The campaign's first coronavirus-era rally in Tulsa, Oklahoma, was notable for its lack of masks.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 11,317,637 — Total deaths: 531,729 — Total recoveries — 6,111,910Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 2,852,807 — Total deaths: 129,718 — Total recoveries: 894,325 — Total tested: 34,858,427Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona hot spot near capacity — Houston mayor warns about hospitals
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Former Trump official Tom Bossert says face masks “are not enough”
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: Sports return stalked by coronavirus
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.