DC Townhouse Linked to Fallen FTX Founder Sam Bankman-Fried Is Listed for $3.3M
What a difference a few months makes. Since the implosion and bankruptcy filing of the cryptocurrency exchange FTX in November, its founder Sam Bankman-Fried has experienced some dramatic life changes—as have those closest to him. A prime example? The listing of a townhouse in Washington, DC, that was purchased in April 2022 by Guardians Against […]
Feds move to crack down on ‘excessive’ credit-card late fees
President Joe Biden is spotlighting new moves by the Consumer Financial Protection Bureau to cut excessive credit-card late fees that cost American families about $12 billion each year. The CFPB unveiled proposals that will potentially save Americans up to $9 billion a year by targeting late fees that are currently protected by an “expansive” immunity […]
Mortgage demand falls 9% despite rates falling for fourth week in a row
The numbers: The housing market is not out of the woods yet, as mortgage demand fell again despite an improvement in rates. Despite mortgage rates dropping for the fourth consecutive week, mortgage demand fell 9% in the latest week. Demand for both purchases and refinancing fell. That pushed the market composite index down, a measure […]
It’s ‘pay’ time for buy now, pay later purchases—here are 5 ways to handle the debt
This article is reprinted by permission from NerdWallet. Chances are that your “buy now, pay later” bill from the holiday season will arrive soon or has already made its debut. If you’re not financially prepared to pay up, late fees or other charges can bury you deeper in debt. Circumstances can change over a matter […]
The U.S. Consumer Is Starting to Freak Out
Listen to article(2 minutes)The engine of the U.S. economy—consumer spending—is starting to sputter.Retail purchases have fallen in three of the past four months. Spending on services, including rent, haircuts and the bulk of bills, was flat in December, after adjusting for inflation, the worst monthly reading in nearly a year. Sales of existing homes in […]
Banks Brace for More Consumers to Fall Behind on Their Loans
Delinquencies are rising, in some cases surpassing prepandemic levels, prompting banks to add to their rainy-day funds. Source link
Fed Debates Whether Wages or Low Unemployment Will Drive Inflation
Fed officials face a fork in the road when forecasting inflation: Focus on moderating wage and price trends or persistently low unemployment? Source link
Getting divorced? 3 financial obstacles couples face now
January is traditionally known as “divorce month” because couples stick out the holidays and then call lawyers as soon as they get back to work in the new year. But after a financially brutal 2022, many couples that want to call it quits are having a hard time with the math. “Everything is topsy-turvy. There’s […]
I ruined my family’s finances by withdrawing from my 401(k) to buy a house — and I regret it
I recently made a panic decision to withdraw all my money from one retirement account and I am now closing on a house in February (about $200,000). I am 36 years old, married and have a 1-year-old. Half of me is regretting it, and I’m worried about next year’s taxes due to the withdrawal and […]
Retiring early can trigger financial shortfall
Retiring three years earlier than expected significantly increases the chances of not meeting retirement income needs, putting greater emphasis on the benefits of working longer or working part time in retirement years. Each year of early retirement before age 65 significantly increases the chance of running out of money in retirement, according to new research […]