Stay updated on financial news, market trends, and economic changes that affect your money. From interest rate hikes to government policy shifts, we break down what’s happening now—and what it means for your finances.
Over half of college graduates are worried about paying back their student loans but are missing key ways to build a strong financial foundation, according to a study sponsored and released by Capital One Bank. According to FinAid.org and Fastweb.com., the average student loan for this year’s graduate is almost $23,000 – quite a hefty … Read more
A Canadian-based online operation accused of scamming more than $450 million from consumers has been charged by the Federal Trade Commission, the agency reported on Tuesday. Consumers in the U.S., Canada, Australia, and New Zealand were lured in by “free” offers, only to have recurring charges racked up on their credit or debit card, the … Read more
Housing starts fell 10.6% in April from the previous month, the Commerce Department and the Department of Housing and Urban Development (HUD) said in a jointly released statement on Tuesday. The unexpected drop was mainly due to the 28.3% plunge in volatile multi-family housing (homes with five or more units). Single-family home starts fell 5.1%. … Read more
Most U.S. cities have seen a drop in the unemployment rate over the past year, a government agency reported on Thursday. The unemployment rate dropped in 317 of the 372 metropolitan areas surveyed by the Labor Department’s Bureau of Labor Statistics in the twelve-month period beginning in March 2010. It was higher in 44 metros, … Read more
In his budget speech today at George Washington University, President Obama said that his goal was to cut the federal debt by $4 trillion over the next twelve years, phased in over time to avoid hampering the economic recovery. To deal with the nation’s $14 trillion deficit, Obama said he would not extend Bush-era tax … Read more
The number people who filed for first-time unemployment benefits fell by 10,000 last week, according to a government report released on Thursday. The advance number for new claims was 382,000 for the week ending April 2, and the insured unemployment rate was unchanged from the previous week’s rate at 3%, the Labor Department reported. States … Read more
Kohl’s announced on Tuesday that the transfer of its private-label credit card portfolio to Capital One has been completed as of April 1, 2011. Capital One will service new and existing Kohl’s charge accounts for a seven year contract. Through the partnership, Capital One acquired more than 20 million existing Kohl’s charge accounts – which … Read more
New claims for uninsured benefits fell slightly last week, down by 6,000 to 388,000, the Labor Department reported today. But the (seasonally-adjusted) four week moving average, which smooths out weekly volatility and gives a better idea of the overall trend, actually moved upwards 394,250 – an increase of 3,250 from the previous week’s revised average … Read more
The pace of existing home sales fell last month after increasing for three months in a row, the National Association of Realtors reported today. February’s sales of single-family, townhomes, condominiums and co-ops dropped to a seasonally-adjusted rate of 4.88 million home sales per year – a decrease of 9.6% from the previous month, and a … Read more
Despite all the education on the importance of protecting our sensitive personal information – identity theft must to be paying off for crooks because the crime remains at the top of the list of consumer complaints for 2010. Identity theft continues to be the most reported complaint for the 11th year in a row, according … Read more
