Old man winter and the fat man in a big red suit are just around the corner. With the United States economy bouncing around this year – starting off the year contracting before climbing back in the second quarter – many are wondering how holiday sales will perform this year? A new … [Read more...]
Bank of England Proposed Rules to Protect Consumers from Bank Runs
In case of a bank failure, British depositors will have an easier time withdrawing their money. The Bank of England (BOE) announced Monday it has proposed a series of sweeping reforms in order to make the British financial system safer. The United Kingdom central bank will protect … [Read more...]
Current U.S. Tax System is Hurting Working Class
The United States currently maintains the highest corporate tax rate in the world – upwards of 35 percent – but critics say that businesses are finding ways to circumvent paying those taxes. This is why many present the case that the tax system needs to be reformed – proponents concur … [Read more...]
ECB’s New Plan to Boost Inflation Similar to Quantitative Easing
European Central Bank (ECB) president Mario Draghi said in remarks Thursday that the central bank will purchase assets for two years in order to boost inflation and spur economic growth, a move similar to the Federal Reserve’s quantitative easing. Draghi told reporters at a press … [Read more...]
Taxpayers Have Spent $1 Billion Dropping Bombs on ISIS
War: A Costly Endeavor A staggering report from CNS News shares just how costly the recent US airstrikes against ISIS have been. The article states that “The cost of U.S. air strikes against the Islamic State of Iraq and Syria (ISIS) may be approaching $1 billion, according to the … [Read more...]
PayPal, eBay Corporate Breakup to Appease Investors
EBay (NASDAQ:EBAY) announced early Tuesday that it would be launching an initiative to split the auction website and PayPal into two separately traded public companies by next year, a move that has been regularly recommended by activist hedge fund magnate Carl C. Icahn this … [Read more...]
ATM Fees Up 5% This Year Alone
If you recently thought that it has gotten more expensive to access your money as of late then you’re right. According to a new study released Monday by Bankrate.com, a customer will pay five percent more this year to simply access their funds on an ATM that is not owned and … [Read more...]
U.S. Bank Hit With $5 Million Fine for Illegal Credit Monitoring Charges
U.S. Bancorp, or U.S. Bank, will pay $57 million in consumer reimbursements and penalties after a federal regulator ruled that the financial institution unfairly charged more than 420,000 customers for credit-monitoring and identity protection services that they never received in the … [Read more...]
Obamacare Has Cost Taxpayers $73 Billion Since 2010
The federal government’s Affordable Care Act (ACA), otherwise colloquially known as Obamacare, has come with a price-tag of $73 billion since 2010, a number that is far greater than what was initially (2010) projected by the Congressional Budget Office (CBO). Obamacare’s high costs … [Read more...]
Canadian Real Estate Market is Hot but For How Much Longer
The Canadian real estate market is hot right now. The average sale price of a detached house in the city of Toronto reached $965,000 this past April, while the average sale price of a detached home in Vancouver is between $932,000 (east) and $2.2 million (west). Industry experts warn … [Read more...]
Public Pension Funds Facing $2 Trillion Shortfall
Is the public pension fund system facing a collapse or a temporary shortfall in part to the financial crisis from a few years ago? A new report suggests that it’s more than just a provisional monetary gap, and a fiduciary problem that needs to be addressed immediately. A new report … [Read more...]
Study: Credit Card Late Fees & Penalties Can be Waived
Have you ever wanted to avoid paying late fees on a statement or not pay outlandish interest on your purchases? Well, all you have to do is...ask. According to a new study by CreditCards.com, a credit card comparison website, the findings suggests that cardholders who simply … [Read more...]
CFPB Warns Student Loan Debt Hurting Housing Market
The $1.2 trillion national student loan debt is holding back many people from potentially purchasing homes and starting a household, which is also at the same time hurting the overall economy, says the Consumer Financial Protection Bureau (CFPB) in a new report released … [Read more...]
Malware Installed on Jimmy John’s POS System: Data Breach
Jimmy John’s is the latest United States company to fall victim to a near nationwide data breach where a large number of customers’ credit and debit card information was stolen by hackers. According to the sandwich restaurant chain, the possible security infiltration took place … [Read more...]
U.S. Economy Transforming Into a Ponzi Scheme
There are many critics of the way the United States government and the Federal Reserve are handling the overall economy. Some detractors of the current stimulus policy say the U.S. central bank is distorting the economy through quantitative easing, record-low interest rates and … [Read more...]
Appliances, Groceries, Wills and Now Banking at Walmart
That’s right, Walmart (NYSE:WMT) has entered the banking business. The nation’s biggest retailer is partnering with Green Dot Bank to offer customers a low-cost checking account, according to a press release. Named GoBank, the checking account will come with a MasterCard debit card … [Read more...]
Regulators Tighten the Noose on Corporate Tax Inversion Loophole
The United States Treasury Department issued new rules Monday that it calls the “first, targeted steps” toward solving the problem of corporate tax inversion deals, an issue that has plagued Washington politics over the past year and one matter that U.S. officials say is hurting the … [Read more...]
Problems with Social Security Continue to Grow
New reports have been released in the past couple of days analyzing the various problems facing Social Security, beneficiaries and overall retirement. A number of institutions have compiled data that covers an array of issues, from Social Security statements continuing to be mailed … [Read more...]
Lacker Opposes Fed Plan to Hold Mortgage-backed Securities
The Federal Reserve’s Federal Open Market Committee (FOMC) voted in favor Wednesday to reduce its monthly bond-buying program by another $10 billion, keep its interest rates to near zero and continue to reinvest the returns from maturing bonds as the balance sheet reaches to an … [Read more...]
U.S. Household Net Worth on the Rise
The Federal Reserve released a new report this week that found the net worth of American households is now 20 percent higher than it was prior to the financial collapse in 2007. At the second of the quarter this year, households put together were worth $81.5 trillion, up 10 percent … [Read more...]
