The financial news that actually matters
Two FDIC-insured banks have shut down in 2026, and the combined toll on the federal Deposit Insurance Fund is already climbing past $116 million. The more recent closure, Community Bank and Trust of West Georgia in LaGrange, Georgia, is expected to cost the fund roughly $97 million. The first, Metropolitan Capital Bank and Trust in…
Thousands of U.S. importers stand to recover billions of dollars in tariff payments after the federal government began accepting refund claims through a new automated system. U.S. Customs and Border Protection is processing refunds within 60 to 90 days of claim approval, a timeline that could return cash to businesses faster than the older manual…
Millions of dental patients across the United States now face heightened risks of identity theft and privacy violations after a data breach at DentaQuest, a Massachusetts-based dental-benefits administrator, exposed the records of 2.6 million people. The incident has triggered mandatory federal and state notification requirements, but gaps in public breach databases mean that affected individuals…
Nike’s finance chief told investors on June 30, 2026, that consumers around the world are pulling back on spending and that U.S. demand in particular “hit a wall” this spring. The comments arrived in a fiscal fourth-quarter earnings release filed with the Securities and Exchange Commission, landing at a moment when federal data already showed…
Georgia banks now have the authority to freeze a suspicious transaction for up to 15 days when they believe an elderly customer is being financially exploited. House Bill 945, signed into law as Act 478, created new sections of the Georgia code, O.C.G.A. 7-1-239.11 through 7-1-239.18, granting financial institutions this hold power. The law builds…
Fraudsters are sending unsolicited text messages and WhatsApp-style chats while posing as Federal Trade Commission employees, promising to recover money that victims lost in earlier scams. The pitches arrive with fake FTC employee ID images attached, a tactic designed to make the offer look official. The median loss to FTC impersonators has more than doubled…
Workers earning low or moderate wages who set aside even a small amount in a retirement account can reduce their federal tax bill by as much as $1,000 per person through the Saver’s Credit, a benefit the IRS says applies to contributions to traditional or Roth IRAs, 401(k)s, 403(b)s, 457(b)s, SIMPLE plans, SARSEPs, the Thrift…
Millions of Americans carrying car payments just gained a new line item on their federal tax returns. For tax years 2025 through 2028, qualified borrowers can deduct up to $10,000 per year in passenger vehicle loan interest, a benefit created by the One, Big, Beautiful Bill Act. The Treasury Department and IRS have already published…
Cisco Systems plans to eliminate nearly 4,000 jobs across its workforce, with the first confirmed batch affecting 471 positions in California. The cuts are tied to a broader corporate shift toward artificial intelligence spending, a move that puts thousands of workers on notice while the company redirects capital. The timing of the disclosure, filed alongside…
Workers turning 60, 61, 62, or 63 during 2026 can now set aside up to $11,250 in catch-up contributions to their 401(k) or similar retirement plan, according to IRS guidance. That figure is roughly 41 percent higher than the $8,000 standard catch-up limit available to all workers 50 and older. Combined with a new $24,500…