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FILE PHOTO: Then-Commodity Futures Trading Commission Chair Gary Gensler testifies at a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill July 30, 2013. REUTERS/Jose Luis Magana/File Photo

Gensler was chair of the Commodity Futures Trading Commission (CFTC) from 2009 to 2014, and since November has led Biden’s transition planning for financial industry oversight. At the CFTC, Gensler implemented dramatic new swaps trading rules mandated by Congress.

Reducing spending in three common budget categories may significantly boost your ability to save money. And a small mental trick could help you stick to an ongoing savings plan. Research conducted by the Employee Benefit Research Institute and J.P. Morgan Asset Management, published in June 2020, aimed to determine why some American adults save more than…

The new poll was conducted by The Associated Press-NORC Center for Public Affairs Research. The pandemic has particularly hurt Black and Latino households, as well as young Americans, who are now going through their second major economic crisis of their adult lives. The poll shows about half of Americans say they have experienced at least one form of household…

A recent study of more than 2,000 U.S. adults, conducted online by The Harris Poll on behalf of MDRT, found that 53% of Americans say their top New Year’s resolution was going to be related to their finances.

—Pension and social investment funds have been stepping up efforts to influence public companies’ conduct by getting their proposals onto annual shareholder ballots. This spring’ s proxy season will likely see more such action. Natasha Lamb is a managing partner of Arjuna Capital, an investment firm focused on social impact investing, which manages $300…

–Financial Planning Standards Board Ltd., the standards-setting body for the global financial planning profession and owner of the international Certified Financial Planner certification program outside the United States, reported steady growth in the number of CFP professionals worldwide last year, despite the challenges presented by the COVID-19…

DENVER- Investment trends during the pandemic have many inexperienced investors hoping for big returns. Many see headlines about GameStop stock swings and the popularity of cryptocurrency and don't want to miss out on an opportunity to enjoy financial gains, but remain confused about how it all works. Financial expert Jason Alderson of Elbert Capital…

The recent stock market mania over the video game company GameStop, which this week was scrutinized by Congress, has provided a teachable moment for kids. “The best way to get kids interested in investing is to speak their language,” said Carrie Schwab-Pomerantz, senior vice president at Charles Schwab & Co.

Gary Gensler, who was a chair of the Commodity Futures Trading Commission during the Obama administration, testified by video for his confirmation hearing by the Senate Banking Committee. He was asked about the roiling stock-trading drama involving GameStop shares that has spurred clamor for tighter regulation of Wall Street.

—Stocks advanced in Asia on Wednesday after a wobbly day on Wall Street, when the S&P 500 gave back most of its gains from a day earlier. Tokyo, Seoul, Shanghai and Sydney also were higher. Bond yields have eased and the yield on the 10- year Treasury inched down to 1.40% early Wednesday.

Caregiving duties can exact a big financial toll: The lost wages, pensions and Social Security benefits that a woman loses to become a full-time caregiver amount to more than $300,000 over her lifetime, according to the National Academy of Sciences. Consider the COVID-19 pandemic: Just a few months ago, in December, women lost 156,000 jobs, while men gained…
Gary Gensler, President Joe Biden's pick to lead the SEC.

—President Joe Biden’s choice to head the Securities and Exchange Commission is coming before a Senate panel for his confirmation hearing at a moment when a roiling stock-trading drama has spurred clamor for tighter regulation of Wall Street.

—Global stock markets and Wall Street futures declined Tuesday after a selloff in U.S. Treasury debt eased, helping to allay concern about a possible rise in interest rates. Tokyo, Shanghai and Hong Kong closed lower and Frankfurt retreated in early trading. That came after a Treasury selloff abated after pushing yields to their highest level in a year.

The coronavirus-fueled housing boom has not hit every community evenly. In 2019, the overall national homeownership rate was 64.2%, according to the National Association of Realtors. “The banking industry and the real estate industry have not been kind to minorities,” said Debra Johnson-King, executive director of Global Empowerment Development…

When it tries to figure out the value for anything from Apple’ s stock to a junk bond, the financial world starts by comparing it against a U.S. Treasury bond, which is what the government uses to borrow money. But when Treasury yields rise, so does the downward pressure on prices for other investments. All eyes have been on the yield of the 10- year Treasury note, which…

—Global stock markets followed Wall Street higher Thursday after the Federal Reserve chairman said the U.S. central bank is in no hurry to withdraw support for the economy. Shanghai, Tokyo, Hong Kong and Seoul closed higher. That helped to dampen fears sparked by a rise in U.S. Treasury bond yields, an indicator of inflation sentiment, that rising price pressure…

“This company has been an accomplished acquirer during the last 30 years,” said bank analyst Gerard Cassidy, of RBC Capital Markets in Portland, Maine. But that changed earlier this week, when the Buffalo- based bank announced its purchase of People's United Financial of Bridgeport, Conn.— its first under CEO Rene Jones. The $7.6 billion deal will create the 11th-…

—Shares fell Wednesday in Asia as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies, despite reassurances from the chair of the Federal Reserve. Tokyo's Nikkei 225 shed 1.6% to 29,671.70. Hong Kong's government announced pandemic relief measures worth $15.4 billion to help the…

Caring.com, a leading senior living referral service and the nation's top site for senior care reviews, has published a comprehensive report from its annual Wills and Estate Planning Study. The 2021 study highlights the pandemic's impact on estate planning and the shift in attitudes among specific groups. “In comparison to previous years, the 2021 study…

Forty- eight percent of retirees with retirement accounts say that their savings have not recovered pre-pandemic levels, according to a new survey by The Senior Citizens League. “There's no doubt about it, the Coronavirus- caused recession is forcing many older adults to rethink retirement plans,” says Mary Johnson, Social Security and Medicare policy analyst…

Women are bearing a tremendous financial burden during the pandemic, primarily because of leaving the workforce, by choice or by force. The Associated Press spoke with Suze Orman, personal finance expert and author of the podcast Women& Money, about how women can survive and emerge from this period. Responses were edited for length and clarity.

The recent GameStop frenzy provided what parents and educators call a teachable moment— an opportunity that presents itself to lend a little insight. So what is the best way for parents to teach kids about investing, particularly when the market behaves oddly?

Former White House National Economic Council Director, Larry Kudlow, is joining The Bahnsen Group, a $2.6 billion national wealth management firm with offices in New York City and Newport Beach, Calif., as an economic advisor.

—Global stock markets and U.S. futures were mostly higher Friday after disappointing American jobs and economic data. London and Frankfurt rose in early trading while Shanghai, Hong Kong and Seoul closed higher. In early trading, the FTSE 100 in London was up less than 0.1% at 6,621.20 while Germany's DAX gained 0.2% to 13,912.29.
Keith Gill testifies before thACe House Financial Services Committee.

Keith Gill went from YouTube and Reddit fame as the investor who helped inspire the runup in GameStop stock to a star witness in a congressional hearing this morning. And he did it all from his big, red gamer chair.

Feb. 18— Elizabeth Warren wants President Biden to follow in former President Donald Trump's footsteps— in canceling student loan debt. The Massachusetts senator called on her constituents to “send a note to President Biden” to wipe out $50,000 per borrower during a virtual town hall on Tuesday. Biden rejected calls to erase up to $50,000 in federal student loan…

Bernie Sanders and Elizabeth Warren. It's enormously expensive– the version sponsored by Warren and Senate Majority Leader Chuck Schumer to waive up to $50,000 in student loan debt per person– would cost upwards of $1 trillion. It's unclear if the narrow Democratic Senate majority would approve anything like the Warren-Schumer plan, or even President Joe…

Feb. 17— Billionaire investor Warren Buffett and his Berkshire Hathaway business sold its entire $800 million stake in M&T Bank Corp. in recent months, eliminating an investment it had held since 1991.. It came about a year after Berkshire sold its other Buffalo- based holding, The Buffalo News, along with other newspapers to Lee Enterprises.
Rick Rieder, chief investment officer of global fixed income at BlackRock, on CNBC's Squawk Box.

“My sense is that the regulation has evolved to such an extent that many people think it should be part of the portfolio,” says Rick Rieder, chief investment officer of global fixed income at BlackRock.

Consumer priorities have changed significantly as a result of the COVID-19 pandemic, with nearly half (45%) of consumers surveyed planning to save more and those most impacted financially seeking to mitigate future financial uncertainty.

Laura Klauser sometimes finds herself looking at home listings online and can’ t help but laugh. Up from 12% a year ago, 18% of U.S. renters ages 24 to 39 said they expect they will always rent, and 74% of those renters said it’ s because they cannot afford to buy a home. “I don’ t want to be financially tied to something, just in case,” said South Shore resident Kelly Williams, 36.“…

—Amy Cooper, the white woman arrested last year for calling 911 on a Black birdwatcher in New York’ s Central Park, had her criminal case thrown out Tuesday after completing a diversionary counseling program that prosecutors said was meant to educate her on the harm of her actions. There is no relation between Christian Cooper and Amy Cooper.

BitIRA– pioneer of the first insured cold storage solution for cryptocurrency retirement accounts– has engaged a panel of London insurance companies to offer dollar-for-dollar insurance on customers' digital currencies. In several cases, $0 insurance $100 million $50 million. When presented with these figures, Warner was quick to point out that even a $100…
Many Americans have joined the gig economy since the pandemic.

Gig work – Uber driving, Instacart shopping, Amazon Flex delivery and so on – is on-demand, freelance work that’s typically taxed as self-employment. Instead of having an employer withhold money from your paycheck, you’re an independent contractor who is expected to pay taxes on your gig income as you earn it.

Being asked to be an executor is an honor you might want to pass up. Settling an estate typically involves tracking down and appraising assets, paying bills and creditors, filing final tax returns and distributing whatever’ s left to the heirs. Robert Braglia of New York, a certified financial planner, was executor of an estate where the woman disowned three of her…

The recent round of $600 stimulus checks was intended to help fuel the economy through consumer spending and discretionary spending. But many Americans who qualified for the second round of stimulus checks are using – or plan to use – the money for savings, to pay down debt or to handle everyday expenses.

Another wobbly day on Wall Street ended with the major stock indexes mostly lower, though the Dow Jones Industrial Average inched up to another all-time high. Treasury yields fell after a government report showed that inflation remained tame last month. The Labor Department said Wednesday that U.S. consumer prices rose 0.3% in January, led by a surge in energy.

WASHINGTON— If you have been following the news about the meteoric rise of GameStop stock shares, you may think investing is exciting— a chance for anyone and everyone to make fast money. What has followed are tales of regular investors scoring big on the rising price of GameStop stocks. In gambling parlance, the GameStop windfall is something closer to…

—Global stock markets and U.S. futures rose Wednesday after Wall Street broke a six-day winning streak. London and Frankfurt opened higher, while Shanghai, Tokyo and Hong Kong also advanced. On Tuesday, Wall Street's benchmark S&P 500 index ended down 0.1% as investors watched Washington, where President Joe Biden’ s Democrats planned to move ahead without…
Fewer consumers wanted to talk to financial advisors, despite wanting advice.

Fewer consumers report consulting financial professionals in 2020 vs. 2019, according to research from Hearts & Wallets. Bank and insurance reps show the biggest decline, a 10-point drop, in consumers turning to them as sources for investment information and advice.

Hope Enterprise Corporation, which runs a Jackson, Mississippi- based credit union that specializes in lending and other financial services to underserved communities in the Deep South, is partnering with seven cities and nine historically Black colleges and universities to launch the“ Deep South Economic Mobility Collaborative. “Goldman Sachs 10,000…

By the end of last week, you could buy a share of GameStop— successor to Philadelphia’ s old Electronics Boutique digital-games store chain— for $64, a fat discount from the $300- plus you would have needed on Jan. 27. Alexandria Ocasio Cortez, D- N.Y., were bashing“ Wall Street” and demanding the federal government investigate why small investors weren’ t all able to buy…

–In the fourth quarter of 2020, the WCI fell by 17.0 points to 97.2 from last year, the largest year-over-year decrease since the inception of the study in 2014. The index, a survey of U.S. workers from HRO Today Magazine and Yoh, the leading international talent and outsourcing company owned by Day& Zimmermann, gauges full-time workers’ perceptions of the four key…
The Legacy IRA Act gives middle-income seniors more flexibility to make gifts to charities through their individual retirement accounts (IRAs). It would expand the IRA Charitable Rollover by enabling seniors age 65 and over to give up to $400,000 annually tax free to an annuity held by the charity of their choice.

The Legacy IRA Act gives middle-income seniors more flexibility to make gifts to charities through their individual retirement accounts (IRAs). It would expand the IRA Charitable Rollover by enabling seniors age 65 and over to give up to $400,000 annually tax free to an annuity held by the charity of their choice.

IRS Gig Economy Tax Center: https://www.irs.gov/businesses/gig-economy-tax-center ” target=”– blank “> https://www.irs.gov/businesses/gig-economy-tax-center. But that simple act makes you a small business in the eyes of the IRS. “Basically, you're considered an independent contractor,” says Garrett Watson, a senior policy analyst with the Tax Foundation, a…

A singular crisis has led to extraordinary relief options for borrowers. Still, many Americans say they took on more debt last year because of the pandemic, according to NerdWallet's household debt survey. President Joe Biden extended federal student loan forbearance until October and during his campaign proposed canceling $10,000 in federal student loan…

A singular crisis has led to extraordinary relief options for borrowers. Still, many Americans say they took on more debt last year because of the pandemic, according to NerdWallet's household debt survey. President Joe Biden extended federal student loan forbearance until October and during his campaign proposed canceling $10,000 in federal student loan…

In the midst of a raging COVID-19 pandemic, with millions of Americans still out of work and facing the possibility of eviction and foreclosure, the United States is experiencing a real estate boom the likes of which it hasn't seen in 15 years. From Augusta, Maine, to Phoenix and from Sarasota, Florida, to Aberdeen, Washington, prices are up by double digits.
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