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bank

A Year of Shocks and Changes for U. S. Airlines

December 26, 2024

2024 was a wild ride for U. S. airlines. Just five days into the year, a door panel fell off a Boeing 737 Max operated by Alaska Airlines, causing delays and raising safety concerns. Two weeks later, a federal judge blocked JetBlue's plan to buy Spirit Airlines, leaving Spirit to face its own challe

business

Walmart's Banking Deal for Drivers Sparks Controversy

December 24, 2024

It's been quite a stir in the world of delivery services. The Consumer Financial Protection Bureau (CFPB) has slammed Walmart and the fintech company Branch Messenger with a lawsuit. The accusation? Forcing over a million delivery drivers to use pricey deposit accounts to get their paychecks without

business

The Container Store Seeks Fresh Start with Bankruptcy

December 23, 2024

We've all heard about big-name stores struggling, and now, The Container Store is the latest to face challenges. The 46-year-old retailer filed for bankruptcy to improve its financials, kickstart growth, and boost long-term profits. It owes around $230 million but has only $11. 8 million in cash. Fo

business

Bye-Bye Balloons: Party City Closes Doors

December 23, 2024

For decades, Party City has been the go-to place for party supplies, from Halloween costumes to birthday favors. But recently, the retailer announced it's shutting down nearly 700 stores nationwide. The company filed for Chapter 11 bankruptcy for the second time in two years, blaming tough economic

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

business

Yellow's Layoff Notices: Too Little, Too Late?

December 21, 2024

Recently, a federal judge in Delaware gave some guidance on the WARN Act claims from Yellow Corp. ’s former employees. They argue they weren't properly notified ahead of mass layoffs in July 2023. The judge said Yellow was correct in using some defenses, but the notices given were "insufficient. " T

finance

Bank of America’s Delayed Alert on Epstein Payments Raises Questions

December 14, 2024

In 2020, Bank of America informed financial regulators about suspicious payments made by billionaire Leon Black to Jeffrey Epstein, the late accused financier. The bank filed two reports, known as “suspicious activity reports” (SARs), with law enforcement. These reports are meant to flag potential c

business

Speeding Up Truck Payments: A Look at Instant Payment Tech

December 14, 2024

In the world of trucking, getting paid quickly has always been a challenge. The freight industry often relies on factoring to ensure carriers get their money fast. But this process hasn't changed much over the years, and it still faces delays, especially over weekends and holidays. One company, Out

finance

Bank Overdraft Fees: A New Limit is Coming

December 12, 2024

Imagine having to pay $35 just for buying a $5 coffee with your debit card when you're a bit short on funds. Sounds unfair, right? Well, the Consumer Financial Protection Bureau (CFPB) thinks so too. They've just announced a new rule to limit those nasty overdraft fees. The rule says banks can't cha