Federal judge removes cap on credit card late fees – KOMO
A federal court judge in Texas has repealed the Consumer Financial Protection Bureau (CFPB) rule, which limits “excessive” credit cards to late fees to $8. Judge Mark Pittman, who had already blocked the CFPB from implementing fee caps, has decided that the rule would illegally prohibit charging “reasonable and proportional” fees. Related | Congress kills […]
Congress kills rule that would have capped banking overdraft fees at $5 – KOMO
With a huge victory in the banking industry, Congress overturned the Consumer Financial Protection (CFPB) rules that limit overdraft fees to $5 for the nation’s largest banks and credit unions (over $10 billion in assets with assets of more than $10 billion in assets of more than $10 billion in assets of more than $10 […]
Americans worried about Social Security's future; expert clears up myths, suggests reforms – KOMO News
(TNND) — Half of Americans who have not yet retired expect to rely on Social Security benefits, but more than 70% of them are concerned that they will not receive the retirement benefits they were promised. Masu. New bank rate survey showed. More than three-quarters of today's retirees rely on Social Security to pay for […]
Medicare enrollment season begins Tuesday offering enhanced benefits for seniors – KOMO News
Seattle — The holiday shopping season may have begun, but one of the more important things on many seniors' to-do lists this time of year is shopping for health insurance. Gary Culp, Cigna Medicare expert, said, “Today we're going to really stop and look at what insurance we have today, what's working, what's not working, […]
New cap on Medicare prescription drug costs to benefit 3 million next year – KOMO News
Seattle — At a time when many costs are rising, millions of Americans could soon see big savings on a key expense. “Previously, people who had a Medicare prescription drug plan had no limit on the amount they had to pay out of pocket each year,” said Lee Purvis, director of prescription drug policy for […]
Harris pledges to end taxes on tips for service industry workers – KOMO News
LAS VEGAS (KSNV) — Democratic presidential candidate Kamala Harris told supporters in Las Vegas on Saturday that she supports eliminating tip taxes for hospitality and service workers, a major issue for many chefs. Her support follows policy. It was first introduced by a Republican rival.Harris endorsed Donald Trump as part of a pledge to support […]