The financial news that actually matters
A data breach at a behind-the-scenes financial software vendor has produced a $5.5 million settlement, and the people whose personal information was exposed have until October 13, 2026, to claim a cash payment. Many of those affected are credit union members who never dealt with the company directly and may not realize their names, account…
A long-running legal fight over Pfizer’s prescription anti-smoking drug Chantix has produced a $44 million settlement, and the people who paid for the medication out of pocket have only a few weeks left to claim their share. The deadline to file falls on September 14, 2026, and anyone who bought Chantix during the covered years…
Federal prosecutors in Hawaii say a single arrest in Honolulu has exposed the mechanics of a scam that has been quietly draining the life savings of older Americans across the country. According to the Justice Department, a 25-year-old man working as a courier picked up more than $137,000 in gold bars from an elderly woman…
Roughly eight million borrowers enrolled in a federal repayment plan that promised lower monthly bills are being told that plan is over. The Saving on a Valuable Education plan, known as SAVE, has been struck down in court, and borrowers now face a choice: move to a new repayment plan or be shifted automatically into…
Many retirees keep the bulk of their savings at a single trusted bank, and a common worry is whether balances above $250,000 are exposed if that bank ever fails. The answer is more encouraging than the headline number suggests. Federal deposit insurance is not a flat cap of $250,000 per person. It is $250,000 per…
For an older adult living on a fixed monthly income, a single mistimed purchase can turn being a few dollars short into an expensive surprise. Federal rules give every account holder a way to head that off before it happens. Banks are required to let customers switch off overdraft coverage on everyday debit-card and ATM…
The amount a person can pass to heirs without owing federal estate tax has climbed to a new high under last year’s tax law. For deaths in 2026, the federal exemption is $15 million per individual, which means a married couple can shield roughly $30 million from the tax. At that level, the vast majority…
Most Americans assume that seizing a retiree’s Social Security requires a judge, a hearing, and a court order. When the creditor is the federal government collecting unpaid taxes, that assumption is wrong. The Internal Revenue Service can reach directly into a monthly Social Security benefit and skim 15 percent off the top through an automated…
Anyone who reaches age 65 by the end of the tax year now qualifies for a federal deduction that did not exist two years ago. It is worth up to $6,000 per person, it runs only through the 2028 tax year, and it can be claimed whether a filer takes the standard deduction or itemizes….
A pair of new federal deductions is aimed at people who earn tips or work overtime, and they can add up to real money for older Americans still on the job. Under last year’s tax law, qualifying workers can now write off a slice of their tip and overtime income directly, without itemizing, on a…
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