The financial news that actually matters
Rathnakishore Giri of New Albany, Ohio, who promoted himself as an expert Bitcoin-derivatives trader and promised investors guaranteed monthly returns with no risk, was sentenced to nine years in federal prison for running a Ponzi scheme that collected over $12,000,000 and at least 10 bitcoin from more than 150 customers. The sentence, which also includes…
Federal Reserve Chair Kevin Warsh used his first policy meeting to strip the forward-guidance language that bond traders, pension managers, and mortgage borrowers have relied on since the 2008 financial crisis. The FOMC statement released June 17, 2026, approved by a unanimous 12-0 vote, dropped the sentence describing the expected path of the federal funds…
Trader Joe’s has agreed to pay $7.4 million to settle a class-action lawsuit that accused the grocery chain of printing too many digits of customers’ credit and debit card numbers on store receipts. The case centered on federal rules that limit how much card information can appear on electronically printed receipts, and plaintiffs argued the…
American credit-card holders collectively paid a record $253 billion in interest and fees last year, roughly triple the total recorded in 2021. That figure, derived from aggregating quarterly bank regulatory filings across all reporting institutions, reflects the combined pressure of higher revolving balances and elevated interest rates on household budgets already strained by years of…
Chipotle Mexican Grill told investors in its Q1 2026 earnings release that customers across all income levels are pulling back on spending, a shift from earlier quarters when the company described the pressure as concentrated among lower-income diners. The disclosure, filed as an SEC exhibit, signals that persistent restaurant-price inflation and broader household financial stress…
Rivian has started handing its R2 SUV to public customers, a vehicle the company needs to sell in high volume if it is ever going to turn a sustained profit. The first trim reaching driveways is the R2 Performance with Launch Package, priced at $57,990, with employee deliveries having begun in April and public orders…
Couples sitting on more than $250,000 in bank deposits can protect every dollar without resorting to exotic financial products. The Federal Deposit Insurance Corporation insures deposits at $250,000 per depositor, per insured bank, per ownership category. By spreading cash across multiple banks and using distinct ownership categories, a married couple can push total insured balances…
Workers who received a raise this year that roughly tracks inflation will not owe a higher marginal federal tax rate in 2026. The IRS announced inflation adjustments for more than 60 tax provisions, including all seven rate brackets, lifting each threshold by about 2.7 percent. That shift, published in IR-2025-103 and reflecting amendments from the…
Investors holding chip and AI-related stocks watched their portfolios slide on Thursday even as the Dow Jones Industrial Average climbed to a fresh record close. The split outcome on July 2, 2026, exposed a widening gap between old-economy blue chips and growth-oriented technology names, driven by a softer-than-expected June jobs report released that morning. With…
Federal student-loan borrowers in default gained breathing room after the U.S. Department of Education halted involuntary collections, including wage garnishment and Treasury offsets, that can strip up to 15 percent of a worker’s disposable pay. The decision reversed an earlier plan that had set a May 2025 restart for the Treasury Offset Program and wage…