The financial news that actually matters
If you run a gun shop, a crypto startup, or a faith-based nonprofit, you may have experienced something that never shows up on a bank statement: your account quietly closed, your application denied, no real explanation given. Starting June 9, 2026, a new federal rule is designed to stop that from happening, at least when…
If you have a high-yield savings account at Capital One, Synchrony, or Marcus by Goldman Sachs, your rate likely dropped in the final days of May 2026, and your bank almost certainly didn’t send you a heads-up. Capital One’s 360 Performance Savings fell to 4.05% APY from 4.15% as of May 30, 2026, according to…
For years, licensed gun dealers, crypto startups, and faith-based nonprofits have shared a common frustration: banks closing their accounts not because of fraud or unpaid debts, but because regulators quietly flagged their industries as reputational liabilities. On June 9, 2026, a new federal rule is supposed to end that practice for good. The Federal Deposit…
The next time you overdraw your checking account at one of the country’s largest banks, the fee will almost certainly be $29 to $35, the same range it has been for years. A federal rule that would have capped that charge at $5 for big banks was permanently killed before it ever took effect, and…
If you bank at Wells Fargo and overdraw your checking account by $6 buying coffee, you’ll pay a $35 fee for the privilege. That was supposed to change. The Consumer Financial Protection Bureau finalized a rule in December 2024 that would have capped overdraft charges at the nation’s largest banks at as little as $5….
In 2014, a licensed firearms dealer in Wisconsin opened a letter from his bank and learned his account was being shut down. No fraud allegation. No overdraft. No explanation beyond a form paragraph about a “business decision.” He was one of dozens of gun retailers, payday lenders, and tobacco sellers who reported identical treatment during…
Three of the biggest names in online savings just trimmed what they pay depositors, and none of them sent a press release about it. Capital One, Synchrony, and Marcus by Goldman Sachs each lowered their posted annual percentage yields over the past several weeks, according to updated rate tables on their websites. The reductions were…
When Chase launched the Sapphire Reserve in 2016 with a $450 annual fee, the price tag was considered audacious. Lines formed outside bank branches. Financial blogs debated whether anyone would actually pay that much for a credit card. Less than a decade later, that same card charges $550, and it is no longer even close…
A server at a Chicago restaurant rings up a $50 dinner. The customer leaves a $15 tip and pays with a credit card. The restaurant’s payment processor charges interchange on the full $65, plus the sales tax. That means the restaurant is paying a bank fee on money that belongs to the server and money…
Ticket buyers who used StubHub during a three-day stretch last May are about to get money back. The Federal Trade Commission announced in April 2026 that StubHub must pay $10 million in automatic refunds to customers who purchased U.S. live-event tickets between May 12 and May 14, 2025, after the agency charged the company with…