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Fed approves quarter-point interest rate cut and sees two more coming this year

WASHINGTON – The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market even as inflation is…
Educational News

Millions of student loan borrowers at risk of default as late payments climb

For months, experts have warned that student loan borrowers who are behind on their payments may trigger a “default cliff.” Recent reports show that cliff is now looming. The resumption of federal student loan delinquency reporting on consumers’ credit earlier this year caused a…
Legal News

US national debt reaches a record $37 trillion, the Treasury Department reports

The $37 trillion update is found in the latest Treasury Department report issued Tuesday, which logs the nation’s daily finances. The national debt eclipsed $37 trillion years sooner than pre-pandemic projections. The Congressional Budget Office’s January 2020 projections had gross…
Editorial News

New home sales soar 20% in August to a three-year high

Sales of newly built homes rose a much larger-than-expected 20.5% in August compared with July to the highest level since January 2022, according to the U.S. Census. It is also the largest one-month gain since August 2022. Sales were 15.4%…
Government News

Debt struggles are hitting consumers at all income levels — it’s a ‘tipping point,’ expert says

As credit card debt ticks higher, there are more signs that consumers — even those with higher incomes — are struggling to manage their balances. Credit card debt hit $1.21 trillion in the second quarter, in line with last year’s all-time high, according to…
Bankruptcy News

Credit card debt reaches $1.21 trillion — in line with last year’s all-time high, NY Fed finds

Credit card balances are ticking higher in 2025, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Balances rose by $27 billion in the second quarter to a collective $1.21 trillion — in line with…
Educational News

Here’s who qualifies for the Trump administration’s latest round of student loan forgiveness

In recent weeks, some federal student loan borrowers have received welcome news: The U.S. Department of Education will soon cancel their remaining debt. “You are now eligible to have some or all of your federal student loan(s) discharged because you have reached…
Editorial News

‘America’s Deficit Reckoning’: How the U.S. debt spiral could spark a crisis

Independent analyses — by sources ranging from Yale University to the Wharton School to the Congressional Budget Office – have each said that President Donald Trump’s budget plan will add trillions of dollars to the U.S. deficit over the next 10 years.  What’s at stake if…
Bankruptcy News

Del Monte, the canned fruits and vegetables company, seeks bankruptcy protection

Del Monte Foods, the 139-year-old company best known for its canned fruits and vegetables, is filing for bankruptcy protection as U.S. consumers increasingly bypass its products for healthier or cheaper options. Del Monte has secured $912.5 million in debtor-in-possession financing that will allow it to operate normally as…
Legal News

Can medical debt affect your credit?

Americans are carrying a staggering $220 billion in medical debt, according to the American Hospital Association, with 14 million (6%) owing over $1,000 and 3 million (1%) in the hole for more than $10,000. More than half (58%) of accounts in collections…