New York Community Bank has recently experienced a significant decrease in deposits, with a loss of 7% over a turbulent month. This has raised concerns among customers, leading many to withdraw their money from the regional commercial bank. In an effort to stabilize the situation, a new capital infusion of over $1 billion has been
Personal
In recent years, consumers have increasingly turned to credit cards as a means of financial support. This reliance on credit cards has led to a concerning trend where the national average credit score has begun to decline. According to a report from FICO, a leading developer of credit scores used by lenders, the average credit
In a recent survey conducted among college-bound students, Harvard University has made a comeback as the ultimate “dream” school, overtaking last year’s top choice, Massachusetts Institute of Technology. This shift comes after a challenging period for the Ivy League institution, with controversies surrounding its former President and allegations of plagiarism. Despite these setbacks, there is
Student loan borrowers are facing potential impacts on their 2023 tax filing due to recent developments in the loan repayment landscape. With the restart of bills and the possibility of forgiven debt, it is crucial for borrowers to understand how these factors may influence their tax liabilities come April 15. Experts emphasize the importance of
Budgeting is more than just keeping track of your expenses; it is the foundation upon which you build your financial house. According to financial experts like Tiffany Aliche and Sophia Bera Daigle, having a strong budget is crucial for achieving financial wellness. By understanding where your money is going, you can make informed decisions that
While most Americans are expected to pay Social Security payroll taxes throughout 2024, top earners with an annual wage income of $1 million will cease contributing to the program as of March 2. This abrupt halt in payments is due to the existence of a taxable maximum, which imposes a limit on earnings subject to
Women have been facing a persistent wealth gap when compared to men. Despite increasing levels of education and representation in senior leadership positions, gender pay gaps remain prevalent. Women are often forced to take time off from the labor force or reduce their working hours due to caretaking responsibilities, which has been termed as the
A recent case brought to light by New York Attorney General Letitia James exposes the troubling reality of investment fraud. Vladimir Artamonov, a Harvard Business School graduate, has been accused of orchestrating a Ponzi scheme that duped his fellow alumni and associates into investing at least $2.9 million. The scheme, which promised unrealistic returns of
In the event of a widespread service outage from a major cellular provider like AT&T, affected customers are often left frustrated and inconvenienced. While companies like AT&T may offer credits to customers impacted by outages, it is crucial for consumers to proactively seek reimbursement rather than wait for it to be automatically applied to their
As we reflect on the financial landscape of 2023, one cannot help but acknowledge the unexpected positive turn of events for retirement savers. Despite the challenges faced in the previous year, retirement account balances have shown a remarkable recovery. The latest data from Fidelity Investments, a leading provider of 401(k) savings plans, reveals that the