The financial news that actually matters
Twenty-one days from now, federal bank examiners will lose one of the quietest and most consequential powers they have held over American depositors: the ability to pressure a bank into shutting your account because someone in Washington decided your politics, your faith, or your perfectly legal business posed a “reputation risk” to the institution. The…
On June 9, 2026, federal bank examiners will lose one of their most controversial tools: the ability to pressure banks into closing accounts because a customer’s business, beliefs, or public statements are politically inconvenient. A final rule jointly issued by the FDIC and the Office of the Comptroller of the Currency takes effect that day,…
A 73-year-old retiree with $500,000 sitting in a traditional IRA owes the IRS a required minimum distribution of roughly $18,868 this year. Skip that withdrawal entirely by December 31, and the penalty alone comes to about $4,717, calculated as 25% of the missed amount. That is on top of whatever ordinary income tax is eventually…
Somewhere in a federal database, there may be a pension check with your name on it. Not a scam. Not a gimmick. Actual retirement money, earned years or decades ago, sitting in government custody because your old employer went bankrupt, merged, moved, or simply lost your address. The Pension Benefit Guaranty Corporation held roughly $424…
The average cost of filing a federal tax return with commercial software runs between $150 and $250, according to the National Society of Accountants. For roughly 100 million American households, that expense is entirely optional. The IRS has maintained a free electronic filing program since 2003, and for the most recent tax year on record,…
Chase is dangling $3,000 for new Chase Private Client checking customers. Citi’s top-tier offer reaches $2,000. U.S. Bank, Wells Fargo, and a handful of regional players are advertising bonuses of $300 to $900 for anyone willing to set up a qualifying direct deposit and keep the account open for a few months. Spring 2026 is…
Roughly 14 million individual taxpayers owed the IRS money after filing their 2024 returns, according to agency data. If you are one of them and you have not arranged a payment plan yet, the cost of waiting is growing every single day. The IRS charges a failure-to-pay penalty of 0.5% of your unpaid balance each…
A gun shop owner in Texas gets a polite letter: his business account is being closed, no further explanation. A cryptocurrency startup in Wyoming hears the same thing from a different bank. A faith-based charity in the Midwest loses its payment processor overnight. None of them were accused of fraud. None had bounced a check….
Most married couples filing their 2026 taxes will not itemize deductions. They will not need to dig up charitable receipts, tally property-tax payments, or calculate mortgage interest down to the penny. The reason is a single number: $32,200. That is the new standard deduction the IRS set for married couples filing jointly in tax year…
Memorial Day 2026 is shaping up to be one of the busiest travel weekends in years, and scammers know it. Federal agencies say a wave of fraudulent text messages is hitting phones right now, disguised as urgent alerts from airlines and hotels. The texts warn of canceled flights, failed payments, or changed reservations. They look…