Buy now, pay later products to be treated like credit cards, CFPB says
The CFPB said BNPL lenders will be treated similarly to credit cards. (iStock) The Consumer Financial Protection Bureau (CFPB) will apply credit card rules to buy now, pay later (BNPL) products. As a result, according to the CFPB, BNPL lenders must comply with the federal Truth in Lending Act (TILA) and Regulation Z rules that […]
50% of Americans saving for college don’t know about a 529 savings plan: survey
529 savings can pay for expenses other than tuition. (iStock ) A new study suggests Americans may be missing out on a key avenue for saving for college. According to Edward Jones, half of adults saving for education are unaware of the benefits of a 529 savings plan, and of those, less than a quarter […]
Consumers want credit products despite high interest rates: TransUnion
Consumers’ access to credit is expanding as their appetite for debt soars, according to a recent TransUnion report. (iStock) A recent report from TransUnion found that the high interest rate environment has done little to reduce demand for credit products. According to the report, there will be more than 543 million bank cards in consumers’ […]
Most homeowners would rather remodel their home than buy another home: study
Home renovations are becoming more popular. (iStock ) Home renovations are becoming more popular, especially as prices for existing homes soar. About 63% of homeowners Adobe research Many said they would rather renovate their home than go through the process of buying a home. The survey involved more than 1,000 homeowners across the country. The […]
This week’s personal loan rates rise for 3-year loans, while 5-year terms edge down
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Gas prices to keep dropping as motorists plan Fourth of July road trips: AAA
A combination of factors has prevented gasoline prices from rising sharply so far this summer. (iStock) Gasoline prices fell by the most this year this week and are likely to continue to fall through the summer, according to the latest data from AAA. report. The national average price for a gallon of gasoline was $3.48, […]
We were in debt up to our eyeballs. Here’s how we dug ourselves out of it and bought a home
“The Ramsay Show” co-host Jade Warshaw discusses Gen Z’s credit card debt and offers advice for Americans struggling to live within their means. “Always the bridesmaid, never the bride.” Oh wait, were we talking about buying a home? Ahh… Always a tenant, never an owner. Many of us feel that way. We watch our family […]
Unemployment increased just slightly despite the US adding 272,000 jobs
The unemployment rate rose to 4% in May. (iStock) The U.S. added 272,000 jobs in May, surpassing last year’s average monthly gain of 232,000, the Bureau of Labor Statistics said. Employment Overview. The unemployment rate increased slightly from 3.9% to 4.0%. Compared to last year, the unemployment rate has not changed significantly. The unemployment rate […]
Mortgage rates fall but only slightly as home prices continue rising
This week, mortgage rates fell to 6.99%. (iStock) Mortgage rates fell last week, but not by much: Rates on a 30-year mortgage averaged 6.99%, just below 7%. Freddie Mac is The firm said in its weekly rates report. The average 30-year fixed-rate mortgage rose just above 7% last week. Both last week’s and this week’s […]
Soaring insurance rates drive auto insurance shopping rates higher: report
More consumers are looking at new insurance because they can’t afford their current premiums. (iStock) A new survey shows that consumers will begin to reassess their insurance premiums in the first quarter of 2024 in search of more affordable options. report From J.D. Power and TransUnion. The increase in insurance purchases came after two consecutive […]