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.
American consumers are keeping big spending in check by putting off buying cars, furniture, electronics, and appliances, but the back-to-school season fueled the second monthly retail sales increase in a row and slightly beat analysts’ expectations. Following a revised .3% increase in July, retail sales in August rose .4% to $363.7 billion, the Commerce Department … Read more
American consumers have been responsibly managing their checking accounts and keeping the costs of banking to a minimum. Most bank customers paid no overdraft fees over the past year, according to a report released on Wednesday by the American Bankers Association (ABA). A survey of 1,000 bank customers found that 77% paid no overdraft fees … Read more
Consumers will soon be protected from paying advance fees to telemarketing companies who promise to help alleviate debt problems, the Federal Trade Commission reported on Thursday. The FTC’s new rules apply to for-profit companies that sell their services over the phone, and also extends the Telemarketing Sales Rule to apply to inbound calls from consumers … Read more
Americans have been working hard to keep their debts paid on time – bringing down the rate of consumer loan delinquencies for the third straight quarter, according to a report released on Wednesday by the American Bankers Association (ABA). In the eight closed-end loan categories tracked by the ABA’s Consumer Credit Delinquency Bulletin, the rate … Read more
The unemployment rate edged down from 9.7% to 9.5% despite the economy losing 125,000 jobs in June, the Labor Department’s Bureau of Labor Statistics (BLS) reported on Friday. Temporary Census jobs coming to an end represented a decrease of 225,000 workers, while 83,000 positions were added in the private sector – leaving the U.S. with … Read more
After consistently rising for three straight months, consumer confidence in June is sharply down amid worries of the job market, the Conference Board reported on Tuesday. The index used to measure consumer confidence dropped from 62.7 in May to 52.9 this month, with a benchmark of 100 in 1985. Only 8% of consumers polled by … Read more
It has become second-nature for consumers to diligently safe-guard their personal information to prevent identity theft and credit card fraud. We shred our sensitive financial documents before throwing them out, we’re learning to not be duped by calls or emails claiming to be an organization that needs our social security number or other important imformation, … Read more
The Treasury Department announced on Wednesday that Arizona, California, Florida, Michigan, and Nevada – the five states hurt most by the housing downturn – can begin to use the $1.5 billion in the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (“The Hardest Hit Fund”). “These states have identified a number of … Read more
Unemployment rates were slightly lower in May across most of the nation, according to a report released today by the Department of Labor’s Bureau of Labor Statistics (BLS). While 7 states reported no change in the unemployment rate, 37 states and the District of Columbia had a decrease and 6 states had an increase. The … Read more
The Department of Labor announced on Tuesday awards of more than $9 million in nationwide grants for ‘green” jobs training for veterans. Raymond Jefferson, assistant secretary of the U.S. Department of Labor’s Veterans’ Employment and Training Service, said that the 22 grants will provide training for thousands of veterans in 19 states and the District … Read more
