Author: Press Room

Watch full video on YouTube

Watch full video on YouTube

The Internal Revenue Service on Thursday unveiled its long-awaited spending plan for a controversial $80 billion cash infusion, pledging to hire thousands of new workers to audit wealthy Americans and big corporations.  The roadmap provides new details about how the tax-collecting agency will use the money over the next decade, including plans to modernize technology, improve customer service, deliver real-time alerts, provide “world-class” customer service and crack down on the so-called tax gap by enhancing enforcement of the wealthy.The Treasury Department previously said the funding boost would allow the IRS to hire about 87,000 workers over the next 10 years,…

The number of Americans who tapped their 401(k) savings to cover financial emergencies increased in 2022, according to a recent report. Nearly 3% of workers made hardship withdrawals from their defined contribution plan in 2022, an increase from the 2.1% in 2021, Vanguard’s How America Saves 2023 report said. Plan loans, which allow participants to borrow from their retirement savings account, also increased by 9% in 2022 compared to 2021 but remained below pre-pandemic levels, the report said. People with 401(k) plans can access their defined contribution plan assets before retirement by borrowing from their account balance or through a hardship or in-service…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were higher for 3- and 5-year loans compared to the previous seven days. For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender between March 13 and…

Consumers using buy now, pay later (BNPL) are likelier to use other credit products and high-interest financial services than non-users of BNPL, a recent report by the Consumer Financial Protection Bureau (CFPB) said. For example, 62% of BNPL borrowers said they used retail credit cards compared to 44% of non-BNPL consumers. Additionally, 32% of BNPL users relied on personal loans compared to 13% of non-BNPL consumers. Thirty-three percent of BNPL borrowers said they had student loans compared to 17% of non-BNPL consumers. BNPL users were more likely to suffer financial distress than non-borrowers and were more likely to use high-interest financial products like…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Student loan debt has become a staple for many households in the U.S., and borrowers owe an average loan balance of $39,487. If you’re feeling overwhelmed by your loans, we’ll cover some of the grants available to help pay off student loan debt and get your finances back on track. What…

Check out the companies making headlines in midday trading.Costco — The wholesale retailer’s shares dropped 2.2% after the company announced sales dipped 1.1% year over year in March. Meanwhile, comparable sales growth was positive when excluding changes in gasoline prices and foreign exchange rates, with the fastest growth coming from overseas markets.Bed Bath & Beyond — The stock tumbled 8.2% after the retailer proposed a stock split as it attempts to avoid bankruptcy.FedEx — Shares of the parcel delivery company were up 0.9% a day after the company announced its DRIVE program, a comprehensive $4 billion cost-cutting restructuring plan. Analysts covering the…

Sean “Diddy” Combs is still paying the price for sampling The Police’s “Every Breath You Take,” and it’s not cheap.The mogul, who sampled the smash hit for his 1997 “I’ll Be Missing You” tribute to the late Notorious B.I.G., tweeted this week that he’s still paying Police frontman Sting $5,000 in royalties each and every day.Diddy made the revelation after a 2018 clip from “The Breakfast Club” was recirculated on Twitter in which Sting said that the rapper was paying him $2,000 every day “for the rest of his life” for using the song.Sting and Sean “Diddy” Combs at the…

US employers added just 236,000 jobs in March, coming in below expectations and indicating that the labor market is cooling off amid the Federal Reserve’s yearlong rate-hiking campaign to chill inflation. The unemployment rate dropped to 3.5%, according to the March jobs report released Friday by the Bureau of Labor Statistics. Economists were expecting a net gain of 239,000 jobs for the month and a jobless rate of 3.6%, according to Refinitiv. This is the first jobs report in 12 months that came in below expectations. While the US labor market has kept trucking along despite other areas of the…