Author: Press Room
The Consumer Financial Protection Bureau (CFPB) will apply credit card rules to Buy Now, Pay Later (BNPL) products. As a result, BNPL lenders must follow the federal Truth in Lending Act (TILA) and Regulation Z rules that apply to credit cards, according to a CFPB statement. That means consumers will be afforded some critical legal protections and rights that apply to conventional credit cards. These include a right to dispute charges and demand a refund from the lender after returning a product purchased through a BNPL service. A CFPB report released in 2022 found that more than 13% of BNPL transactions…
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-year loans and lower for 5-year loans when compared to fixed-rate loans for the seven days before. For borrowers with credit scores of 720 or higher who used the Credible marketplace to…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks little changed: Markets were mixed to lower Thursday following a rally to new record highs Wednesday. Treasury yields dipped after yet another inflation data point — May’s producer price index — that was cooler than expected. But the relationship between falling yields and rising stocks isn’t working to the same degree as previous sessions, although a good 30-year auction at 1 p.m. ET helped the market bounce. However, gains were…
Netflix is trying to get ready for some football.The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter. Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.This is Netflix’s first real foray into traditional live sports, driven by the company’s ambitions to grow its advertising tier. The company inked a deal earlier this year with…
President Joe Biden has nominated Christy Goldsmith Romero as chair of the Federal Deposit Insurance Corporation. The announcement comes after current FDIC Chair Martin Gruenberg said he intended to resign once a successor is confirmed by the Senate following a scathing independent investigation detailing pervasive sexual harassment, discrimination and bullying at the agency charged with regulating the banking sector. Goldsmith Romero, a Democrat, served as special inspector general for the Troubled Asset Relief Program at the Treasury Department that was borne out of the Great Recession. In that role, she was responsible for overseeing efforts to crack down on banks’…
At the start of the year, I believed that shares of Oshkosh Corporation (NYSE:OSK) were looking good into 2024. The company enjoyed solid operating momentum, allowing shares to surpass the $100 mark, with the fundamentals looking good into 2024, backed up by a growing backlog. In the first half of the year, shares have gradually risen, although they have recently seen a setback again, now trading flattish since the start of the year. All this happened as Oshkosh has seen operating momentum continue, as it delivered on a convincing hike in the 2024 guidance, making me gradually appealed to the…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A 10-year challenge to find ways to combat the growing scourge of antibiotic resistant “superbugs” has yielded a new generation of diagnostic tests that offer rapid identification of infections.The £8mn Longitude Prize was awarded on Wednesday to Sysmex Astrego, a Swedish company whose method cuts the analysis time for urinary tract infection patient samples from two or three days to less than an hour.The prize is a response to the increasing threat posed by antimicrobial resistance (AMR), or the evolution of pathogens…
House Speaker Mike Johnson and Senate Republicans are looking for ways to advance their agenda next year if former President Donald Trump were to win back the presidency. Top of the list: a tax overhaul. In a meeting with Senate Republicans on Wednesday, Johnson highlighted using a procedural tool known as reconciliation to move ahead with the GOP agenda. Reconciliation allows the Senate to pass legislation with just a simple majority vote and has been used by both parties in the past to advance changes to health care and tax policy among other issues. The GOP used the process under Trump…
Saving for retirement requires dedication and time. During those years, however, market movements will make significant jumps that you can then celebrate. And we’re in the middle of such a shift. A recent Fidelity study highlights this very fact. According to a review of Fidelity 401(k) accounts, the number of participants with more than $1 million in assets within the account has increased by 15% in the first quarter of 2024, compared to end of 2023. This is a result of the market moving forward – it’s up 11% through 2024 and 25% over the past year. All-in-all, the number…
Americans may be missing out on an essential college savings tool, according to a recent survey. Half of all adults saving for education don’t know about the benefits of using a 529 savings plan, and less than a quarter of them are using this financial tool to save for college, according to the Edward Jones survey. Additionally, only 25% know that these plans can be used to fund more than just higher education. The biggest obstacle preventing more Americans from using 529 plans is the misconception that they require more savings or income to open. “A 529 education savings plan is…
