Credit card debt is clearly causing restless nights after many consumers simply attacked higher prices for gas, groceries, and other goods by pulling out the plastic. A record $1.13 trillion in debt ended up on credit card balances during the fourth quarter of 2023, according to the latest report on household debt from the Federal Reserve Bank of New York.
Digital World Acquisition Corp. announced the approval of the merger between Digital World and Trump Media& Technology Group. We are excited to soon share the news of the Business Combination's approval process with them,” Eric Swider, CEO of Digital World, said in a statement on Wednesday. The SEC said Digital World violated anti-fraud laws in July by not…
Brad Rhodes: Buy guarantees, not promises. Published 12:00 am Sunday, February 18, 2024. The famous investor, Warren Buffett, put it in perspective when he said this about the insurance business.
One of your important sources of retirement income will likely be Social Security— but when should you start taking it? You can start collecting Social Security benefits at 62, but your checks will be considerably bigger if you wait until your full retirement age, which is likely between 66 and 67. However, if you have adequate financial resources to meet your…
While reading a list of business headlines, the following captured my interest: "I am 52 years old planning for retirement. Should I open a Roth IRA or open an index fund or exchange-traded fund? " If you put $5,000 into your traditional IRA, your income for the year contributed is reduced by $5,000 for that tax year.
Wells Fargo& Co. has had another consent order terminated by its federal regulator related to its fraudulent customer account scandal that erupted in September 2016. The bank and the Office of the Comptroller of the Currency confirmed the ending of the consent order in separate statements on Thursday. On Thursday, the Office of the Comptroller of the Currency…
Maya Angelou's name probably doesn't come up too often in the typical conversation on Wall Street, but the celebrated African-American poet nonetheless has some sound advice on relationships that investors perhaps should have heeded these past few weeks. The Federal Reserve has been telling investors for weeks, some would argue months, that betting on…
Roberto Montano, a/k/a Jorge Roberto Montano Midence, a/k/a Roberto Pellegrini, a/k/a Alberto Yardi, 58, pleaded guilty to wire fraud, U.S. Attorney Jane Young announced Tuesday. Chief U.S. District Court Judge Landya B. McCafferty scheduled sentencing for May 30. Montano is a Guatemalan citizen who managed two forestry projects in Guatemala for an investment…
Feb. 13— Like many Medicaid recipients, Brenda Spicuzza of Fairborn had no idea she was racking up debt to the state of Ohio by merely being on Medicaid until she read about estate recovery in the Dayton Daily News. I canceled two doctor appointments today because I don't want to rack up any more charges of what I owe to the state of Ohio. " The Dayton Daily News has…
On February 8, 2024, the Securities and Exchange Commission obtained final judgments against John Feloni and his company Stock Squirrel, Inc. Among other things, the judgments order payment of over $2 million in disgorgement of ill-gotten gains, prejudgment interest, and civil penalties to be paid variously by the two defendants. The SEC's complaint alleged…
The S&P 500 Index finished above 5,000 for the first time ever Friday as investors continue to bet on the resilient U.S. economy and the Federal Reserve's plans to start cutting interest rates later this year. "The big driver for the rally is the realization that the U.S. economy is unlikely to falter in the way that the average prognosticator had expected," Yung-Yu…
Brad Rhodes: Selecting the right life insurance policy for you. Published 12:00 am Sunday, February 11, 2024. It is essential to carefully consider your life insurance needs before selecting a policy.
A 2023 study by T. Rowe Price found that participation in an employer-sponsored retirement plan was highest for white people at 57.7% but lowest for Black people at 40.5% and Hispanic people at 31.9%. That auto-enrollment provision is well-intentioned, says Yemi Rose, but it needs to be part of a bigger solution. According to the Federal Reserve 2022 Survey of…
The broadest measure of U.S. blue-chip shares has risen more than 21% since bottoming out in late October, confirming a solid bull market heading into the start of the year, powered by the end of the Federal Reserve's rate-hiking cycle, stronger-than-expected fourth-quarter earnings, and a surprisingly resilient domestic economy. For example, the equal…
Rose, president and chief executive officer of SHE Beverage Co., has pleaded not guilty to the charges and has been released from custody on a $20,000 bond. According to a grand jury indictment unsealed this week, the 54- year-old Palmdale woman marketed SHE Beverage as a women-owned company that sold beer, wine, bottled water and other products primarily to…