The financial news that actually matters
Federal authorities have filed charges, seized assets, and suspended trading in a string of stock manipulation cases tied to social media promotions, and the pace is accelerating. The FBI reported at least a 300 percent increase in victim complaints about ramp-and-dump stock fraud in 2025 compared with 2024. In the largest single recovery so far,…
A single missed payment, even by just 30 days, can strip dozens of points from a consumer’s credit score and stay on the record for seven years under federal law. That penalty clock, set by the Fair Credit Reporting Act, runs independently for each account, meaning borrowers who fall behind on multiple bills face overlapping…
Taxpayers who paid late-filing penalties on their 2020 or 2021 federal returns have just 16 days to file a claim that could get that money back. The Taxpayer Advocate Service has warned that tens of millions of filers may qualify for refunds tied to COVID-era deadline extensions, but the window to act closes on July…
Macy’s is shutting down 14 more stores this year, pushing the department-store chain closer to its target of eliminating roughly 150 locations over three years. The closures are part of a broader restructuring that concentrates investment in approximately 350 remaining stores through fiscal year 2026. With the company reporting that its fiscal year 2025 results…
Investors betting on another strong year for U.S. equities face a simple math problem: Wall Street’s consensus calls for S&P 500 earnings to grow 14% to 16% in 2026, roughly double the pace companies delivered last year. That expectation, built on company filings and fresh bank research, sets a high bar that stocks may not…
Investors who buy stocks with borrowed money face a brutal math problem when prices drop: their losses compound against them while their broker’s patience runs out. The U.S. Securities and Exchange Commission has warned that losses in a margin account can exceed the cash an investor originally deposited, and that brokers can sell holdings without…
Taxpayers who paid late-filing penalties on federal returns due between 2020 and 2023 face a narrow window to recover those charges. The IRS already granted automatic relief for many penalties tied to 2020 and 2021 returns, but filers who missed that round or who believe disaster-related postponement rules cover later tax years must act before…
Debit-card holders who never asked for overdraft coverage can revoke that protection and have transactions simply declined at the register, avoiding fees that average close to $27 per incident. Federal rules have required banks to obtain a customer’s affirmative consent before charging overdraft fees on one-time debit purchases and ATM withdrawals since 2010, yet many…
JPMorgan has raised its estimated probability of a U.S. recession in 2026 to 35 percent, a figure that puts Wall Street’s most influential bank at odds with equity markets still pricing in steady profit growth. The bank’s core concern is blunt: analyst earnings targets have climbed so far above the profit trajectory visible in government…
Taxpayers who owe the IRS $50,000 or less in combined tax, penalties, and interest can set up a payment plan online that blocks the agency from seizing wages or bank accounts while the agreement is active. Federal law explicitly bars the IRS from levying during a pending or approved installment agreement, giving people who act…