Author: Brian Lund
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The fifth American bank failure of 2026 cost the deposit insurance fund about $5.5 million
Tioga-Franklin Savings Bank, a single-branch lender in Philadelphia’s Tioga neighborhood, closed on August 21, 2026, after the Pennsylvania Department of Banking and Securities took possession of the institution and named the Federal Deposit Insurance Corporation as receiver. It was the fifth bank to fail in the United States this year, and the FDIC estimates that…
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Capital One raised the rate on its older 360 Savings accounts on August 4
Capital One customers who have held on to an older 360 Savings account got a rate bump on August 4, 2026, when the bank raised the interest paid on that legacy product to match its newer, higher-paying 360 Performance Savings account. For years, the two accounts paid very different rates even though they functioned almost…
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Employer health costs rose 6 percent over the year while private wages rose 3.1 percent
Employer-provided health benefits got 6.0 percent more expensive for private-sector businesses over the year ending in June 2026, while the wages those same employers paid workers climbed just 3.1 percent, according to new federal data. For a household counting on a raise to keep pace with the cost of living, the gap matters: the fastest-growing…
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A disability services provider will pay $65,000 after rejecting a deaf applicant for a housekeeping job
An Indianapolis provider of residential services for people with developmental disabilities will pay $65,000 to resolve a federal lawsuit accusing it of rejecting a job applicant because he is deaf. The U.S. Equal Employment Opportunity Commission sued Damar Services, Inc. after a single phone interview in 2023 in which, the agency says, staff learned the…
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Eleven insurers are quitting the Affordable Care Act marketplace, and Cigna alone drops 369,000 people
Eleven health insurers have told state regulators and reporters they are leaving the individual Affordable Care Act marketplace, either everywhere or in specific states, once the current 2026 plan year ends. The single largest hit falls on Cigna, which is exiting ACA exchange business in eleven states and taking roughly 369,000 enrolled members with it.…
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Health Net ends every employer health plan in California and Oregon on February 28, 2027
Roughly three million Californians who rely on Health Net for health coverage are watching the company exit the business of insuring workers through their employers. Centene, Health Net’s parent company, confirmed to a healthcare trade publication that Health Net is leaving the traditional commercial group insurance market in California and Oregon entirely, ending every small…
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A federal borrower earning $45,000 with $35,000 in loans now pays $150 a month instead of $176
A federal student loan borrower earning $45,000 a year with $35,000 in debt is now paying $150 a month instead of $176, according to the U.S. Department of Education. The lower bill comes from a new income-driven repayment option called the Repayment Assistance Plan, which opened to borrowers on July 1, 2026, and replaces the…
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Prosecutors say a Texas attorney took $1.45 million from about 20 investors and returned $789,000
A 70-year-old attorney in Grand Prairie, Texas, was arrested this week on federal charges built around a pitch familiar to a lot of retirement savers: buying liens on properties with unpaid taxes. Prosecutors say David Thomas Gilchrist collected roughly $1.45 million from about 20 people between April 2023 and January 2026 and sent back only…
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Three marketing firms will pay $930,000 for telling advertisers they could listen through your phone
Three advertising and marketing firms are paying a combined $930,000 after the Federal Trade Commission determined they told advertisers their technology could listen in on conversations through people’s smart devices to target local ads, a capability the agency says never actually existed. The finalized order, dated August 27, 2026, closes out a case against Georgia-based…
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Toyota is recalling 508,354 Camry Hybrids for a dashboard that can go dark and kill the hazard lights
Toyota is telling more than half a million Camry Hybrid owners that their dashboard can go dark the moment they start the car, taking the turn signals, hazard lights and seatbelt chime down with it. The automaker has filed a formal recall covering the 2025 and 2026 model years, all built at its Kentucky plant,…
