Cora Lewis

The Consumer Financial Protection Bureau said Thursday that apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the Truth in Lending Act.

Business |
U.S. agency says apps that let workers access paychecks before payday are providing loans

July 18, 2024 at 10:06 a.m.

The Consumer Financial Protection Bureau said Thursday that apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the...

Internet service providers will be required to be more transparent about the cost and performance of their internet service packages, thanks to new FCC rules that take effect this week. The new required pricing labels are modeled on nutritional labels and are meant to help consumers comparison shop and avoid junk fees. They will be mandated at every point of sale, both in persona, and online, the FCC said, beginning April 10.

National News |
Internet providers must now be more transparent about fees, pricing, FCC says

April 10, 2024 at 5:22 p.m.

Internet service providers will be required to be more transparent about the cost and performance of their internet service packages, thanks to new FCC rules that take effect this week....

A strong performance in financial markets, particularly an outsize gain for the stock market in 2021, helped entrench existing trends of wealth inequality during the pandemic, new data released this week show.

Economy |
Wealth disparities by race grew during the pandemic, despite income gains, report shows

February 10, 2024 at 12:30 p.m.

A strong performance in financial markets, particularly an outsize gain for the stock market in 2021, helped entrench existing trends of wealth inequality during the pandemic, new data released this...

The Consumer Financial Protection Bureau has proposed new rules that would lower overdraft fees, with President Joe Biden calling the charges “exploitative.”

Business |
What to know about overdraft fees as the White House cracks down on them

January 17, 2024 at 3:45 p.m.

The Consumer Financial Protection Bureau has proposed new rules that would lower overdraft fees, with President Joe Biden calling the charges “exploitative.”

Consumers are expected to use “buy now, pay later” payment plans heavily this holiday season, a forecast that bodes well for retailers but that has credit experts again sounding alarm bells.

Business |
More Americans are expected to ‘buy now, pay later’ for the holidays. Analysts see a growing risk.

November 27, 2023 at 10:14 a.m.

Consumers are expected to use “buy now, pay later” payment plans heavily this holiday season, a forecast that bodes well for retailers but that has credit experts again sounding alarm...

About two in three Americans say their household expenses have risen over the last year, but only about one in four say their income has increased in the same period.

Economy |
Many Americans say their household expenses are outpacing earnings this year, AP-NORC poll shows

October 30, 2023 at 7:25 p.m.

About two in three Americans say their household expenses have risen over the last year, but only about one in four say their income has increased in the same period.

Student loan payments start up again for most borrowers in October, but more than 800,000 people who have been paying for years are having their loans forgiven.

804,000 long-term borrowers are having student loans forgiven before payments resume this fall

October 6, 2023 at 8:40 a.m.

Student loan payments start up again for most borrowers in October, but more than 800,000 people who have been paying for years are having their loans forgiven.

After three years, the pandemic-era freeze on federal student loan payments will end in October. It may seem tempting to just keep not making payments, but the consequences can be severe, including a hit to your credit score and exclusion from future aid and benefits. Student loan interest will start accruing on September 1 and payments will restart in October. Experts say that delinquency and bankruptcy should be options of last resort. They say deferment and forbearance, which pause payments, though interest may continue to accrue, are often better in the short term.

Business |
It’s almost time to resume student loan payments. What happens if you don’t?

June 30, 2023 at 6:53 p.m.

After three years, the pandemic-era freeze on federal student loan payments will end in October. It may seem tempting to just keep not making payments, but the consequences can be...

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