Author: Brian Lund
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Auto lenders will start sending borrowers a yearly interest statement once the total passes $600
If you paid $600 or more in interest on a car loan this year, your lender now has to tell you about it in writing — the same way your mortgage company already does every January. The Treasury Department and the IRS finalized the rule on September 4, 2026, closing out months of back-and-forth over…
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A Florida buffet paid 31 workers $732,976, about $23,644 each, after calling their pay a monthly salary
Thirty-one people who cooked, cleaned and served food at a Pompano Beach buffet restaurant found out their steady “salary” was actually a way to avoid paying them what federal law requires. The U.S. Department of Labor says the restaurant’s owner now has to hand back $732,976 in back wages, an average of $23,644 per worker,…
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A payment processor will pay $4.85 million after moving $30 million for a tech-support scam
A payment processor that helped move more than $30 million out of American bank accounts for a tech-support scam has agreed to pay nearly $5 million to settle federal fraud charges — but that money is not on its way to victims yet. The Federal Trade Commission says Nuvei, a Canada-based company that processes credit…
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The FTC is sending 2,005 people about $166 apiece from a scheme that promised them success coaches
The Federal Trade Commission is mailing a second round of checks to people who paid to join a business-opportunity program called Blueprint to Wealth, which promised buyers a turnkey business run by so-called success coaches who would supposedly do the work for them. The agency says it is sending 2,005 payments totaling more than $333,000,…
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Campbell’s cut its dividend 36 percent and is closing plants
The Campbell’s Company told investors this week that it is cutting its quarterly dividend by more than a third and pushing ahead with plant closures as part of a new, multiyear savings plan. Camden, New Jersey-based Campbell’s, in business for more than 150 years, has products in millions of pantries, including soup, Goldfish crackers and…
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Job openings held at 7.3 million, and June was revised down 177,000
The number of available jobs across the country held essentially steady in July, but the headline number hides a messier story underneath. The Bureau of Labor Statistics reported that openings stayed at roughly 7.3 million even as it quietly revised the June count down by 177,000 — a reminder that the first read on the…
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Employers added 162,000 jobs in August, five times the prior year’s average
Employers added 162,000 jobs to nonfarm payrolls in August, the U.S. Bureau of Labor Statistics reported Friday, a pace more than five times the 31,000-job average monthly gain recorded over the prior twelve months. The unemployment rate held steady at 4.1 percent, and hourly pay kept climbing, though not quite fast enough to outrun the…
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Regulators closed a federal credit union outright, and all 183 members keep their money up to $250,000
Federal regulators shut down a small credit union in the St. Louis suburbs this summer, the kind of local financial institution most people never think about until it fails. The National Credit Union Administration liquidated African Diaspora Federal Credit Union in Saint Ann, Missouri, after finding the institution insolvent and operating in an unsafe and…
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The average rate on a credit card balance carried month to month is 22.15 percent
Anyone who ends a billing cycle owing money on a credit card is now paying more than one in five dollars of that balance back in interest over a year, according to the Federal Reserve’s latest count of what banks actually charge. The number covers everyone who doesn’t pay their statement in full, not just…
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HUD published the rent ceiling every housing voucher in the country follows, and the new numbers start October 1
The U.S. Department of Housing and Urban Development has finalized the rent figures that will govern the Housing Choice Voucher program for the next year, and they take effect in less than a month. Those figures, called Fair Market Rents, set the ceiling on what a housing agency will subsidize toward a voucher holder’s rent,…
