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.
Organizations that prey on consumers who have been hurt by the economic downturn are the target of an ongoing crackdown by the Federal Trade Commission. The FTC announced today that it halted the operations of Florida-based robocallers that allegedly promised to lower consumers’ credit card interest rate, but did nothing to fulfill their claims. According … Read more
A new program aims to increase financial literacy for low to moderate-income students and help to encourage savings. In a joint statement by the Department of Education, the Federal Deposits Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA), the three agencies on Tuesday announced a new agreement to help educate millions of students … Read more
In an effort to educate homeowners on the energy-efficiency of their residences, Vice President Joe Biden and Energy Secretary Steven Chu have launched the Home Energy Score pilot program. “The Home Energy Score will help make energy efficiency easy and accessible to America’s families by providing them with straightforward and reliable information about their homes’ … Read more
Home prices over the past year have remained relatively unchanged over the past year, even though the pace of sales has sharply declined since the ending of the home buyer’s tax credit, the National Association of Realtors (NAR) reported on Thursday. The national median existing single-family home price of $177,900 in the third quarter was … Read more
New claims for jobless benefits unexpectedly dropped by 21,000 last week to 434,000 – its lowest level since July, the Department of Labor reported on Thursday. But the news may be even better than a three-month low. In July there were special factors contributing to the lower number of new jobless claims; fewer than usual … Read more
Existing home sales jumped 10% in September, signalling the beginning of a housing recovery, the National Association of Realtors reported on Monday. The rate of sales, which includes single-family homes, townhomes, condos, and co-ops, was at an annual pace of 4.53 million homes in September after a downwardly revised rate of 4.12 million homes in … Read more
One of the nation’s largest debt collection companies has agreed to pay $1.75 million to settle charges by the Federal Trade Commission that the company used unethical practices to collect debts, the agency reported on Thursday. The settlement, which is not an indication that the company broke the law or has been found guilty of … Read more
A health care fraud racket suspected of pilfering more than $163 million from the Medicare system has been busted up by the Justice Department and the Federal Bureau of Investigations in a multi-agency investigation, the agency reported on Wednesday. The defendants include 73 members and associates of an Armenian-American organized crime enterprise across five states … Read more
The mortgage mess that started with bad paperwork to put people into homes looks to be continuing in the same manner, only this time it’s to get many of those very same people out of their homes. Iowa Attorney General Tom Miller is leading the investigation into reports that some of the largest mortgage servicers … Read more
The unemployment rate remained unchanged at 9.6% and approximately 14.8 million people were unemployed in September, the Labor Department reported on Friday. Non-farm employment dropped by 95,000 in September after a loss of 159,000 in government employment and an addition of 64,000 in private-sector positions. The steep decline in government jobs reflected the end of … Read more
