All eyes were on the Federal Reserve’s interest rate cut this week. As widely expected, the central bank delivered a 0.25% trimming to the federal funds rate Thursday (Nov. 7), which will take some time to work through the economy and impact the cost of...
Capital One disclosed Thursday (Oct. 31) that it could face an enforcement action by the Consumer Financial Protection Bureau (CFPB) regarding its introduction of a new savings account product with a higher interest rate than its existing savings account products. The regulator sent the bank...
The U.S. economy added the equivalent of a large company in October, according to data released Friday (Nov. 1) from the Bureau of Labor Statistics. More than 12,000 positions were added last month, which missed estimates of 100,000 roles. Stocks roared out of the gate,...
Despite the interest rate cuts by the Federal Reserve — 0.5% for the first go-round in September, with more cuts widely expected — the fact remains that the era of low interest rates is, arguably, over. One mainstay? Volatility will be a hallmark of interest...
November 08, 2024
All eyes were on the Federal Reserve’s interest rate cut this week. As widely expected, the central bank delivered a 0.25% trimming to the federal funds rate Thursday (Nov. 7), which will take some time to work through the economy and impact the cost of debt, for everything from corporate loans to credit cards. In […]
October 30, 2024
Despite the interest rate cuts by the Federal Reserve — 0.5% for the first go-round in September, with more cuts widely expected — the fact remains that the era of...
October 11, 2024
As 2024 draws to a close, and as evidenced by management remarks and data in the latest earnings results from JPMorgan Chase, posted on Friday (Oct. 11), consumer spending, in...
October 09, 2024
Despite the volatility month to month on credit card debt, per government reports, the trend remains, generally, upward and to the right. And for consumers already shouldering that card debt,...
November 22, 2024
The Federal Reserve’s pandemic-era Main Street Lending Program reportedly had $1.23 billion in interest and principal payments in default as of Oct. 31. The program delivered $17.5 billion in loans, with much of it having been repaid, but some borrowers are struggling with high interest rates, balloon payments and post-pandemic changes in their customers’ behavior, […]
November 01, 2024
Capital One disclosed Thursday (Oct. 31) that it could face an enforcement action by the Consumer Financial Protection Bureau (CFPB) regarding its introduction of a new savings account product with...
October 22, 2024
The home improvement business is reportedly expected to pick up, driven by lower interest rates and higher property values. More homeowners are borrowing against the rising value of their properties...
October 20, 2024
Banks are reportedly cutting the interest rates they pay on corporate deposits faster than those they pay on consumer deposits. These cuts followed the Federal Reserve’s lowering of benchmark lending...
