The financial news that actually matters
Millions of Social Security beneficiaries who owe money to the federal government now face a sharper bite from their monthly checks. The Social Security Administration shifted its default withholding rate for Title II overpayments to 50 percent for notices issued after April 25, 2025, up from a lower baseline that had been in place for…
Seniors shopping for standalone Medicare prescription drug coverage in 2026 will pay less on average than they did a year earlier. The Centers for Medicare and Medicaid Services projects the average monthly premium for a standalone Part D plan at $34.50, down $3.81 from the $38.31 average in 2025. That drop lands at a time…
Americans who spent decades raising children or managing a household without earning a paycheck can still receive Social Security retirement income, and the amount can reach half of a working spouse’s full benefit. Federal regulations set that ceiling at 50 percent of the worker’s Primary Insurance Amount, the monthly figure calculated at full retirement age….
Checking account holders who have been stung by overdraft charges now have a growing list of banks that have dropped those fees entirely. Ten major banks have moved to zero-dollar overdraft fees on their primary checking products, a shift driven by federal regulatory pressure and a broader crackdown on fees that quietly drain household budgets….
American households carrying credit-card balances or variable-rate loans are paying roughly the same interest they paid a year ago, even though the Federal Reserve’s benchmark rate has held steady near 3.75 percent since mid-2025. The prime lending rate, which anchors most consumer and small-business variable loans, has stayed flat at 7.75 percent. Credit-card rates remain…
Diners with food allergies who eat at large restaurant chains in California will soon get new protection. Governor Gavin Newsom signed SB 68, making California the first state in the country to require allergen disclosure on restaurant menus. The law applies to chains with 20 or more locations and takes effect July 1, 2026, giving…
Millions of taxpayers who requested a six-month filing extension are now accumulating interest on any balance they owed as of the original April deadline. The extension pushed their paperwork deadline to October 15, but it did nothing to delay the date their taxes were due. Interest began running the moment that original deadline passed, and…
American households carrying credit-card debt face a worsening squeeze. Balances at least 90 days past due have climbed to 13.1 percent, the highest share recorded since 2011. That figure, drawn from Federal Reserve data tracking consumer credit bureau records, signals that millions of borrowers are falling deeper behind on payments even as the job market…
Workers earning modest incomes can cut their federal tax bill by up to $1,000 simply by putting money into a retirement account, yet the credit designed to reward that behavior remains one of the least discussed tools in the tax code. The Retirement Savings Contributions Credit, commonly called the Saver’s Credit, applies to contributions made…
Homeowners who bought during the pandemic-era price surge and now sell their primary residence could keep as much as $500,000 in profit out of the IRS’s reach, but only if they pass a strict residency clock. Federal law requires the home to have been owned and used as a principal residence for at least two…