The financial news that actually matters
Every American consumer can lock down their credit files at Equifax, Experian, and TransUnion without paying a cent, a protection that federal regulators call the single strongest defense against new-account identity theft. The right has been codified in federal law since the Economic Growth, Regulatory Relief, and Consumer Protection Act took effect, and it extends…
Millions of Americans hold money at FDIC-insured banks while also buying stocks, crypto, or mutual funds through the same financial institutions. The Federal Deposit Insurance Corporation protects only the cash sitting in traditional deposit accounts, covering up to $250,000 per depositor. Stocks, bonds, mutual funds, and crypto assets fall entirely outside that safety net, even…
Jeffrey Gundlach, the DoubleLine Capital founder often called the “Bond King,” is refusing to buy U.S. stocks until prices drop significantly lower, pointing to gold and commodities as the smarter allocation while the Federal Reserve stays locked in place on interest rates. Gundlach has said across multiple appearances that it is “just not possible” for…
Morgan Stanley chief U.S. equity strategist Mike Wilson is telling clients to treat the latest stock-market slide as a buying opportunity, even while acknowledging that equity valuations have not meaningfully compressed. The call carries weight because Wilson has built a track record of shifting between bearish and bullish stances at high-profile moments. Earlier, he projected…
Every one of Eddie Bauer’s 174 U.S. stores will close after the company’s retail operator filed for Chapter 11 bankruptcy protection. Eddie Bauer LLC, the entity responsible for running the brand’s physical locations, submitted its petition in the U.S. Bankruptcy Court for the District of New Jersey under Case No. 26-11422-SLM. The filing separates the…
ServiceNow has cut hundreds of positions across California offices, according to state labor filings, as the cloud software company shifts resources toward artificial intelligence. The reductions come after the company’s most recent quarterly financial disclosure attributed rising costs directly to growing headcount, setting up a tension between the staff-heavy spending model that fueled ServiceNow’s expansion…
Federal prosecutors have built a string of cases against mortgage brokers who pitched investors annual returns ranging from 14 percent to 100 percent, then used incoming capital to pay earlier backers rather than generating real profits from loan activity. The schemes span multiple states and collectively involve well over $100 million in alleged losses. Several…
About 2,700 retail investors lost roughly $402 million after a Lititz, Pennsylvania, man allegedly funneled their savings into ATM-related funds that federal authorities now say were fraudulent from the start. Daryl F. Heller, 55, was arrested on one count of securities fraud and four counts of wire fraud in connection with a scheme that raised…
Daryl F. Heller, a 55-year-old from Lititz, Pennsylvania, ran two investment firms that collected more than $770 million from investors over seven years while causing roughly $400 million in losses, according to federal regulators and prosecutors who filed civil and criminal charges against him. The Securities and Exchange Commission and the U.S. Attorney’s Office for…
American consumers paid higher prices on imported goods for years while tariffs collected billions of dollars at the border. Now that the Supreme Court has ruled those tariffs illegal, the refund money is flowing back to the companies that paid it, not to the shoppers whose wallets absorbed the cost. U.S. Customs and Border Protection…