Are your online habits safer than most? 84% of credit cardholders engage in at least 1 risky behavior, survey finds – CNBC
If you own a credit card, there is a good chance that you are a victim of a scam or that you may be there immediately. Approximately 63% of US cardholders say they were victims, with over half saying they have experienced multiple frauds. Recent surveys from security.org. Overall, unauthorized purchases exceed $6.2 billion each […]
Feds Spent $40 Billion on 4.6 Million Credit Cards in FY2024
The Department of Government Efficiency (DOGE) is working to “simplify” the federal government's credit card program, which spent nearly $40 billion in 2024. ” The US government currently has around 4.6 million “active credit cards/accounts” that spent $39.7 billion in transactions over $90 million in last fiscal year, Doge reported Tuesday. “Doge works with agents […]
Americans' average credit card balance hits $6,580, but there are signs consumers are managing their debt relatively well – CNBC
Americans are increasingly gaining credit card debt. The Federal Reserve Bank of New York has recently reported that consumers owed a record $1.21 trillion on credit cards. The average consumer balance was $6,580, up 3.5% from the previous year to $6,580, according to another quarterly credit industry. Insight Report From Trans Union. Despite the rise, […]
$6K child tax credit eyed by bipartisan House lawmakers
A bipartisan group of lawmakers has introduced a bill that will give up to $6,000 per child with tax credits. This is on the right, on the right side, R-Pa. , Ryan Mackenzie, Ryan Mackenzie, Ryan Mackenzie, Sharice Davids, D-Kan. , part of a broader law called the Affordable Childcare Act, led by Suzanne Bonamici. […]
DOGE finds nearly $40 billion in spending linked to government-issued credit cards
The government's Department of Efficiency (DOGE) pledged on Tuesday to “simplify” the federal government's credit card program, costing taxpayers nearly $40 billion last year. “The US government currently has around 4.6 million active credit cards/accounts, which processed a unique transaction of approximately $400 billion in 2024.” “Doge works with agents to simplify the program and […]
Americans’ credit card and household debt reach new record highs
The Mornings With Maria panel provides a response to the December employment report, detailing its impact on the US economy. American household debt levels, including credit card debt, rose to a new high in the fourth quarter of 2024, according to a report by the Federal Reserve Bank of New York. The report showed that […]
Houston city employees found abusing credit cards, audit reveals – KPRC Click2Houston
Houston, Texas – When Houston Mayor John Whitmire was elected, he promised a citywide audit to identify waste and inefficiency. The results are currently present, revealing key areas for improvement. An audit conducted by Ernst & Young highlights issues such as credit card abuse, redundant staffing and waste. Mayor Whitmire stressed that the report points […]
Senate Republicans propose bills to kill EV tax credit, add road repairs tax
Senate Republicans introduced a pair of bills on Wednesday, aiming to strip the country of electric vehicle tax credits and replace them with mandatory $1,000 tax payments that they would instead be used to repair roads. “The hard-earned money of Americans paying taxes should not cover the cost of the country's elite luxury, and we […]
1 in 5 people are missing out on Earned Income Tax Credit worth $7,830; here’s what to know – SILive.com
If you are a low- or middle-income person, you may qualify for hundreds or thousands of dollars on your 2024 tax refund through the Earned Income Tax Credit (EITC). However, one in five eligible taxpayers missed out on charging a credit, according to the IRS. As of December 2024, approximately 23 million workers and families […]
A bill would cap credit card rates at 10%, echoing a Trump pledge. Are there downsides? – USA TODAY
Amid a surge in credit card interest rates and arrears have risen, the bill with bipartisan support will cap to 10%, about half the current five-year average. This law dramatically lowers card rates to an average of 21.5%. Still, industry experts say the law can help and interfere with consumers. Sen. Bernie Sanders, I-Vt, sponsor […]