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finance

Real Estate Giant Accused of Kickback Scheme

December 24, 2024

The Consumer Financial Protection Bureau (CFPB) has accused Rocket Homes, one of the U. S. 's largest mortgage lenders, and The Jason Mitchell Group of a secret kickback scheme. The CFPB claims that Rocket Homes provided real estate brokerages with rewards to encourage them to steer mortgage applica

finance

Are Rate Cuts Still the Key to High Yields?

December 22, 2024

The Federal Reserve decided to trim interest rates by a quarter percentage point on December 19. But they also tweaked their forecast, hinting that rate cuts won't speed up. Are high yields still the hot commodity for investors? Let's dig in! Investors often chase after stocks that promise high ret

finance

Zelle’s Million-Dollar Fraud Problem: Banks in Hot Water

December 21, 2024

The Consumer Financial Protection Bureau (CFPB) recently filed a lawsuit against some of the United States’ biggest banks. These include JPMorgan Chase, Bank of America, and Wells Fargo, along with the operator of Zelle—a popular peer-to-peer payment system. The CFPB claims that for the past seven y

finance

Banks in Hot Water: Zelle Users Lose Big Due to Fraud

December 21, 2024

Ever sent money using Zelle? You might want to hear this. The Consumer Financial Protection Bureau (CFPB) is suing the three biggest banks in the US. Why? They say these banks aren't doing enough to protect Zelle users from fraud. Zelle is a payment app that banks like JPMorgan, Bank of America, and

finance

Holiday Gifts: $10B Down the Drain, Half Disliked

December 21, 2024

This holiday season, Americans are set to overspend on unwanted gifts, racking up a whopping $10. 1 billion in disappointing presents. That's right, nearly 53% of adults in the US will unwrap at least one gift they don't like. The average cost of these unwanted gifts has risen to $72, up from $66 la

finance

Betting with Borrowed Money: Why Credit Cards and Sports Betting Don't Mix

December 21, 2024

Sports betting is a popular pastime, but it's not always a safe one, especially when people use credit cards to fund their bets. This practice can lead to unexpected fees and debt, making it harder for bettors to win or even break even. Lawmakers and credit card companies could help by stopping this

finance

Inflation Slows Down, But Will It Last?

December 20, 2024

You know how sometimes prices go up, making things cost more? Well, that's called inflation. The Federal Reserve has a special way to measure this, and in November, their gauge showed a smaller increase than expected. That's good news, right? Not so fast! Economists were actually expecting a bigger

finance

Gen Z's Job and Money Woes: A New Kind of Crisis

December 20, 2024

Young adults from Gen Z are facing a unique challenge. They're calling it a "midlife crisis, " even though they're just in their twenties. The dream of independence has turned into a nightmare for many. Why? Money problems, job instability, and worries about the future are taking a toll. These issue

finance

Bitcoin's Big Drop: What’s Causing the Slump?

December 20, 2024

Bitcoin took a dive below $92, 000 on Friday morning, rebounding slightly to $94, 104. 06. This drop follows the Federal Reserve’s signal that they’ll slow down interest rate cuts in 2025. Over the past day, Bitcoin has fallen by about 7. 7%, and since the start of the week, it’s down over 10% from

finance

Crypto Predictions for 2025: What Experts Say

December 20, 2024

In a recent report, financial experts at FBS have taken a fresh look at the crypto market, examining key trends from 2024 and making bold predictions for 2025. The year 2024 was marked by significant growth, driven by important events like Bitcoin's halving and increased institutional interest in Et