The party may be over for “buy now, pay later.” The Consumer Financial Protection Bureau said Thursday that these installment payments come with “several areas of risk of consumer harm,” including data harvesting, debt accumulation and “loan stacking” — or juggling multiple payment plans at once. Buy now, pay later lenders — including companies such
Month: September 2022
The IRS doesn’t like frivolity when it comes to returns. And they can count on Albert Lauber, my favorite Tax Court judge, to back them up when they are right. Eric D. Clarkson was challenging frivolity penalties – Code Section 6702 – fourteen of them at five grand a pop. Here is the story according
The housing market is becoming more balanced, but at a great cost to buyers, who are footing the bill of high monthly mortgage payments, and sellers, whose stronghold on the market has slipped away as mortgage rates doubled this year. This is according to a new report from Redfin, a technology-powered real estate brokerage. There
In this article DIS Patty Jenkins attends TNT’s “I Am The Night” FYC Event on May 9, 2019 in North Hollywood, California. Emma McIntyre | Getty Images Questions about the fate of Patty Jenkins’ “Rogue Squadron” began circulating nearly a year ago, and intensified after the Star Wars film went unmentioned at Disney’s annual D23
In this article FDX FedEx on Thursday withdrew its full-year guidance and announced significant cost-cutting measures following what it called softness in global volume of shipments. “Global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the U.S.,” CEO Raj Subramaniam said in the release. “While this performance is
August was marked by extremely hot temperatures in parts of China, prompting temporary power rationing in some regions. Pictured here on Aug. 24, 2022, is the central city of Chongqing’s skyline with the lights partially turned off to conserve energy during the heatwave. Vcg | Visual China Group | Getty Images BEIJING — China reported
It was a heist that was as brazen as it was simple. On the morning of Nov. 29, 1985, a couple entered The University of Arizona Museum of Art in Tucson, Arizona. Within minutes, “Woman-Ochre” — a painting by the Dutch-American artist Willem de Kooning — was gone. The museum’s curator Olivia Miller described the
Pekic | E+ | Getty Images The U.S. Department of Education continues to put out new information on how President Joe Biden’s historic student loan forgiveness plan will work. Some of the latest details include how forgiveness will be applied to your balance: which federal student loans can get the relief, and in what order.
We know how the Covid-19 pandemic killed older adults. We are still learning about its other effects on seniors. And the picture is both complex and often difficult to look at. A study by Michael Barnett of the Harvard T. H. Chan School of Public Health and colleagues (paywall) finds that residents of nursing homes
Office demand is in a state of flux. The widespread adoption of hybrid work and intensifying economic headwinds have left companies unsure of their real estate needs. While both office owners and occupiers share an optimistic outlook about the future of office usage, property managers are pioneering new ways to generate revenue in the place
In this article BBBY Bed Bath & Beyond has announced dozens of the roughly 150 stores it plans to close. The struggling home goods retailer released its plans last month to shutter the “lower producing” locations, representing about 20% of its namesake stores. The closures are part of a broader plan to try to stabilize
Malerapaso | Istock | Getty Images HUNTINGTON BEACH, Calif. — Professional athletes are faced with a difficult task early in their careers — learning to deal with big sums of cash as they’re thrust into stardom, often at a young age. Isaiah Thomas, an all-star basketball player, and major league baseball player Dexter Fowler sat
The founder of outdoor apparel maker Patagonia is donating his company to a greater cause: fighting climate change. Yvon Chouinard, the rock climber-turned-billionaire, and his family have transferred their ownership of Patagonia to the newly created Patagonia Purpose Trust and nonprofit Holdfast Collective. The two entities will ensure that all of Patagonia’s profits go toward
Andresr | E+ | Getty Images For retirement “super savers,” good financial habits appear to go far beyond fattening up their nest eggs, a new study shows. Most of these workers — whose 401(k) contributions are at least 15% of their pay or 90% or more of the maximum allowed — also pay their bills
Investors in digital assets like cryptocurrency and non-fungible tokens (NFTs) have been on a wild ride these last few years. After all, the price of a single Bitcoin BTC hit an all-time high of over $65,000 in November of 2021 before sinking to around $20,000 in June of 2022 and staying in that range ever
Share to Facebook Share to Twitter Share to Linkedin Stocks have continued to struggle for direction since a hotter-than-expected inflation report earlier this week dragged markets to their worst single-day drop since June 2020, with the Dow plunging over 1,200 points. While inflation remains stubbornly high, investors have grown increasingly concerned that the Federal Reserve
In this article UAL Emirates airlines Boeing 777-31H(ER) takes off from Los Angeles international Airport on January 13, 2021. Aaronp / Bauer-Griffin | GC Images | Getty Images DULLES, Va. — United Airlines and Emirates will sell seats on each other’s planes, marking a turnaround in the business models of the one-time foes. As part
In this article DHR RYTM NEE Wind turbines at the San Gorgonio Pass wind farm, owned by NextEra Energy Inc., in Whitewater, California, on Wednesday, Feb. 17, 2021. Bing Guan | Bloomberg | Getty Images Check out the companies making headlines after hours. NextEra Energy — Shares fell 3% in extended trading after the company
The total private wealth held by New York residents was found to exceed $3 trillion. Alexander Spatari via Getty Images New York City is home to the most high-net-worth individuals in the world, according to a new report by investment migration consultancy Henley & Partners. Around 345,600 millionaires reside in the Big Apple, alongside 15,470
Globalstock | E+ | Getty Images If you feel like your income hasn’t kept up with rising prices, you’re not alone. More than half, 55%, of respondents in a new survey from Bankrate.com say their incomes have not kept up with rising household expenses amid persistent high inflation. Only 33% of respondents said their incomes
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