Medical debt may come off credit reports soon, helping Americans qualify for more financial products
The CFPB wants to remove medical debt from the credit reports of millions of Americans. (iStock) Medical expenses may soon be removed from many credit reports, the Consumer Financial Protection Bureau (CFPB) said. Proposed the rule The bill aims to remove medical debt from credit reports and prevent debt collectors from using the reporting system […]
Bank of England holds rates at 5.25% – Financial Times
Stay up to date with free updates Just sign up UK interest rates myFT Digest – delivered straight to your inbox. The Bank of England’s “delicately balanced” decision to keep interest rates unchanged at 5.25% just two weeks before the UK’s July 4 general election, dealt a blow to Conservative hopes of improving personal finances. […]
Fitch Doesn’t See Bottom of Office CRE Mess, Sees CMBS Delinquency Rates Spike Way Past Financial Crisis Peak in 2025
Estimated Reading Time: 2 minutes A big driver is the “secular decline in the office market” that even slashed interest rates would not end. There has been a recent flurry of declarations by big fund managers with exposure to the office sector of commercial real estate that office CRE has “bottomed out,” or is “near […]
Pressure mounts on senior bankers as discontent in junior ranks simmers – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. On message boards such as Wall Street Oasis and Reddit, junior investment bank analysts have been posting complaints about the long hours and the impact they are having on their mental and physical health, and are […]
Democrats call on US financial regulators to do more on climate
Nineteen Democrats and one independent are calling on US financial regulators to do more to address the financial risks posed by climate change. Lawmakers led by Sen. Elizabeth Warren (D-Mass.) and Rep. Sean Kasten (D-Ill.) sent a letter Thursday to leaders of the Federal Reserve, the Office of the Comptroller of the Currency and the […]
Ukraine set to get more financial support from G7 and NATO countries, while Biden signs bilateral security agreement
BIDEN, ZELENSKY TO SIGN US-UKRAINE SECURITY PACT: At the end of a long day of working sessions at the summit of world leaders of the Group of Seven democracies in Fasano, Italy, President Joe Biden will sit down with Ukrainian President Volodymyr Zelensky to deliver on a commitment made last year to pursue separate security […]
Are Conservative Lawmakers Holding Financial Institutions Accountable?
The recent news of Bank of America being fined $250 million for engaging in illegal practices has once again raised concerns about the accountability of financial institutions. Bank of America’s Illegal Practices: Bank of America has been ordered to pay a substantial amount in penalties and customer compensation due to a range of illegal practices. […]
Social Security: Most Americans unaware of financial shortfall – NewsNation Now
(NewsNation) — Millions of Americans could see their Social Security benefits cut in just nine years, but a recent report suggests most people don’t even know it. new Peter G. Peterson Foundation Research It found that only 30% of Americans know that without reform, Social Security benefits would be cut by 21% over nine years. […]
Archie Norman blames pension funds for decline of London's stock market – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. City executive Archie Norman blamed a lack of funding for British pension funds invested in British companies and a decline in corporate share options for the long-term slump in the London stock market. Norman, who is […]
Supreme Court justices’ financial disclosures: 5 revelations
The Supreme Court justice’s latest financial disclosure was released Friday, revealing details about the judge’s new rental property, hundreds of thousands of dollars in book royalties, and Beyonce gives away concert tickets. The 2023 disclosures of eight of the nine current justices have been released, with Justice Samuel Alito receiving a 90-day extension. Judges have […]