The financial news that actually matters
Millions of hourly workers are about to see a rare break from the tax code’s usual treatment of extra pay. A new federal provision lets eligible taxpayers deduct up to 12,500 dollars of qualifying overtime income through 2028, or up to 25,000 dollars for married couples filing jointly. For families that rely on long shifts…
Business owners and individuals who were cut off from banking services because their work was legal but politically unpopular now have a federal rule on their side. The FDIC and the Office of the Comptroller of the Currency published a final rule, effective after its April 10, 2026 appearance in the Federal Register, that bars…
Widows and widowers across the United States can claim a monthly Social Security payment equal to 100 percent of what their late spouse earned, provided they wait until their own full retirement age to file. That single rule can mean the difference between collecting a modest check based on a lower earnings record and receiving…
Fraud victims who already lost money to scams are now being targeted a second time by imposters claiming to be Federal Trade Commission employees and offering to recover those losses. The FTC issued a consumer alert in June 2026 warning that these callers text fake photo IDs, cite badge numbers, and promise to retrieve stolen…
Homeowners pulled back from the market in a sharp reversal last week, with new listings dropping 1.3% from the prior week, one of the steepest single-week declines recorded so far in 2026. The pullback arrived alongside deteriorating consumer confidence, as the University of Michigan Consumer Sentiment Index slid to 44.8 in May 2026, driven by…
A proposed class action accuses Bitcoin Depot of processing $76,000 in fraudulent transactions through its ATMs after an impersonation scammer targeted a single victim in Massachusetts. The complaint alleges the company’s machines moved the funds despite warning signs consistent with well-known crypto fraud patterns. State attorneys general in Massachusetts and Iowa have filed separate enforcement…
Merchants in Illinois and potentially other states lost their best shot at reducing card-processing costs when the Office of the Comptroller of the Currency declared that national banks and federal savings associations do not have to follow the state’s new interchange fee restrictions. The OCC’s interim final order takes effect June 30, 2026, one day…
Roughly 70 million Americans who depend on Social Security retirement benefits could see their monthly checks shrink by about $500 if Congress fails to act before the program’s trust fund runs dry. The Social Security Board of Trustees reported in June 2025 that the Old-Age and Survivors Insurance fund is on track for depletion, with…
A spouse who spent an entire career outside the paid workforce can still collect a monthly Social Security check equal to half of their partner’s full retirement benefit. Federal regulations set that base spousal amount at 50 percent of the worker’s Primary Insurance Amount, or PIA, once the non-working spouse reaches full retirement age. With…
American homebuyers now hold a rare advantage: sellers across the country outnumber active purchasers by roughly 470,000, a gap that has widened faster than at any point in recent housing history. The imbalance, driven by rising construction activity and cautious buyer demand, is reshaping negotiations in dozens of metro areas and forcing price expectations lower…