Recently, the Consumer Financial Protection Bureau (CFPB) proposed a new interpretive rule aimed at regulating paycheck advance programs. These programs, also known as earned wage access, have gained popularity among workers in recent years as an alternative way to access their paychecks before the actual payday. The proposal suggests that such programs should be classified
Personal
Recently, a federal appeals court issued an order temporarily halting the Biden administration from implementing its new student loan repayment plan, known as SAVE. The new plan, which was described as the most affordable student loan plan ever, has faced legal challenges right from the start. The St. Louis-based 8th U.S. Circuit Court of Appeals
The potential depletion of Social Security funds has been a pressing issue that remains unresolved. With the combined trust funds projected to last until 2035, the future of the program is uncertain. Both President Joe Biden and former President Donald Trump have vowed not to touch benefits, but questions remain about the sustainability of the
In recent years, workplace engagement has been on the rise, but current trends show that this growth has come to a standstill. According to a 2023 Gallup poll, only one-third of employees are actively engaged in their work, while roughly 50% are not engaged at all. Another 16% are actively disengaged, leading to a significant
In an effort to improve efficiency and reduce wait times, the Social Security Administration is rolling out updates to their online services. This means that if you have an existing “my Social Security” account created before September 18, 2021, it is crucial that you log in to make the necessary transition to a Login.gov account.
Rentvesting is a unique approach to real estate investment where individuals choose to rent their primary residence in one city while purchasing an investment property elsewhere. This allows them to generate income through renting out the investment property, whether on a short- or long-term basis. According to Danielle Hale, chief economist at Realtor.com, rentvesting can
The Biden administration’s attempts at student loan forgiveness have faced significant legal challenges, with the Supreme Court striking down previous efforts. The latest income-driven repayment plan, known as SAVE, has also been partially suspended due to lawsuits from Republican-led states like Arkansas, Florida, and Missouri. Experts predict that any future sweeping debt forgiveness initiatives will
Deflation has become a significant factor in the U.S. economy, with prices of consumer goods and services experiencing a decline in recent times. While inflation was a concern just two years ago, economists are now witnessing deflation across various categories, particularly in physical goods. One of the primary factors contributing to deflation is the normalization
The U.S. Department of the Treasury and the IRS have marked a significant achievement in collecting over $1 billion in tax debts from high-income individuals over the past year. This accomplishment is part of an initiative to target those making over $1 million annually with recognized tax debts exceeding $250,000. Treasury Secretary Janet Yellen emphasized
Medical debt in collections appearing on credit reports has decreased significantly over the past decade, according to new research by the Urban Institute. In 2013, 19.5% of Americans had medical debt in collections, while in 2023, that number dropped to just 5%. Efforts by major credit bureaus in 2022 and 2023 played a vital role