The financial news that actually matters
Nearly 7 percent of Americans with subprime credit scores are now at least 60 days behind on their car payments, a level of distress not recorded in more than three decades. The Federal Reserve published new analysis on November 24, 2025, using the FRBNY Consumer Credit Panel and Equifax credit records, showing that auto-loan delinquency…
Borrowers with lower credit scores are responsible for nearly all of the recent increase in missed auto loan and credit card payments across the United States, while prime borrowers and conventional mortgage holders show little added stress. Federal Reserve research confirms that delinquency increases among riskier borrowers have far outpaced the overall increase, creating a…
Roughly 330,000 importers are waiting for the federal government to return approximately $166 billion in tariffs that courts have ruled invalid, and a federal judge wants the money moving faster than Customs and Border Protection says it can manage. CBP told the court in a sworn filing that processing refunds for about 53 million import…
West Marine Inc. filed for Chapter 11 bankruptcy protection in Delaware on May 17, 2026, setting in motion a restructuring that will shutter 59 stores across 23 states. The marine-products retailer entered into a Restructuring Support Agreement with its lenders and secured cash-collateral arrangements to keep remaining locations open during the proceedings. For thousands of…
Across the tech sector, 156,270 workers at 150 companies have been cut from payrolls so far this year, a toll tracked in near-real time by the independent site Layoffs.fyi. The figure, compiled by founder Roger Lee, has become a default reference point for journalists, investors, and policymakers trying to gauge how fast artificial intelligence is…
Checking account holders at the largest U.S. banks face renewed exposure to higher overdraft charges after the president signed a joint resolution on May 12, 2025, killing a federal rule that would have capped most fees at $5. Many of those banks had already dropped their overdraft charges from roughly $35 per transaction to $5…
The Securities and Exchange Commission has charged two Georgia-based firms, Reign Financial International and Berone Capital, with orchestrating an alleged $26 million fraud through three purported high-yield investment programs that pulled in at least 31 investors. The enforcement action, documented in Litigation Release No. 26552, names both firms and their principals, accusing them of misusing…
Every Eddie Bauer store in the United States will shut its doors after the company’s bankruptcy auction for 174 locations drew zero qualified bids. Eddie Bauer LLC and affiliated debtors filed for Chapter 11 protection on Feb. 9, 2026, in the U.S. Bankruptcy Court for the District of New Jersey under case number 26-11422 (SLM)….
Investors who sold stocks, funds, or other assets at a loss during recent market swings face a hard ceiling when filing their 2025 returns: federal law caps the net capital loss deduction at $3,000 per year for most filers, or $1,500 for those married filing separately. Any excess rolls into future tax years, dollar for…
Every dollar a saver deposits at a federally insured credit union carries the same federal guarantee as money held at a bank: $250,000 per owner, per institution, for each account ownership category. That parity is written into federal law and backed by two separate government-administered insurance funds, yet a persistent gap in public awareness still…