Author: Brian Lund
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The House passed a revised bill to end the penny and round cash purchases
The House has passed a revised version of the Common Cents Act, H.R. 10167, which would end production of the penny and round cash purchases to the nearest five cents. The House acted by voice vote on Sept. 15, 2026. The bill is not law: no signing had been reported as of Sept. 30. Where…
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Discover cardholders moving to Capital One can no longer put rewards toward minimum payments
Discover cardholders whose accounts are converted to Capital One will no longer be able to put rewards toward a minimum payment. The change comes from the Discover integration FAQ, which says flatly that “rewards cannot be applied toward your minimum payment.” The conversion runs in waves through early 2027, so the practical effect will land…
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Marcus pays 4.30% on a nine-month CD but only 3.90% for a year
A nine-month certificate of deposit at Marcus by Goldman Sachs pays 4.30% APY, while the twelve-month CD pays only 3.90%, so three extra months of waiting are rewarded with a rate 0.40 percentage points lower. The rates come from Marcus’s own CD page, which was dated Sept. 29, 2026 when it was read on Sept.…
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E*TRADE pays 4.25% for six months on new Premium Savings money, plus bonuses up to $800 through Jan. 10
E*TRADE, part of Morgan Stanley, is advertising a 4.25% annual percentage yield on new money in its Premium Savings account for the first six months, plus cash bonuses of up to $800 on large deposits, through Jan. 10. As of Sept. 30, 2026, the bank’s own page still showed those terms. The 4.25% is a…
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Old Glory Bank is operating under an FDIC order with $268.7 million in deposits and just $7.5 million in capital
Old Glory Bank, based in Elmore City, Oklahoma, is operating under an FDIC order. The bank reported $268.7 million in deposits and $7.5 million in Tier 1 capital on its June 30, 2026 call report. It remains open, and its deposits stay covered by FDIC insurance up to the standard $250,000 limit. A supervisory directive,…
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Bristol Myers Squibb, Pep Boys and a Pepsi bottler plan to cut 577 jobs
Three employers have told state labor departments they plan to cut 577 jobs: Bristol Myers Squibb in Princeton, New Jersey, the auto-parts retailer Pep Boys in Bala Cynwyd, Pennsylvania, and a Pepsi bottler in Hyattsville, Maryland. The notices are WARN filings, made under a law that requires advance warning of large layoffs. The layoffs are…
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New York’s paid family leave maximum rises to $1,287.91 a week in 2027
A New York worker who takes up to 12 weeks of Paid Family Leave in 2027 could collect as much as $1,287.91 a week, the state’s new maximum. That is $59.38 more than the 2026 ceiling of $1,228.53. The higher figure applies to leave beginning on or after Jan. 1, 2027, and it is a…
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Maryland workers start paying 0.45% of wages for paid leave in January, and New York’s yearly deduction cap rises to $451.81
Paycheck stubs in Maryland will carry a new line in January 2027: a deduction of 0.45% of wages for the state’s Family and Medical Leave Insurance program. In New York, the most a worker can pay toward Paid Family Leave in a year rises to $451.81 in 2027 from $411.91. The two programs are at…
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Payrolls rose significantly in just four states in August, led by California, BLS says
California added 39,400 payroll jobs in August, the largest gain among the only four states where the Bureau of Labor Statistics found payrolls rose significantly. Wisconsin, South Carolina and New Mexico were the other three. In the remaining 46 states and the District of Columbia, BLS called the monthly change “essentially unchanged,” which is not…
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Washington, D.C., now has the nation’s highest unemployment rate, 5.7%
Washington, D.C., posted the highest unemployment rate in the country in August, 5.7%, according to the Bureau of Labor Statistics. The national rate held at 4.1%, and South Dakota’s 2.0% was the lowest. The District’s own labor department reports that the rate is lower than a month and a year earlier, which makes the ranking…