Money, Wealth & Power—A Daily Look at the Financial World
Trump Accounts are about to become a fixture in family finance conversations, promising tax breaks and federal seed money in exchange for strict rules on how and when children can touch the cash. For parents, the opportunity is real, but so are the trade offs, from early withdrawal penalties to the risk of locking up…
Across the country, Americans are opening medical bills and finding extra charges that can add hundreds of dollars to the cost of a simple checkup or video visit. These line items, often labeled “facility fees” or buried in vague billing codes, are turning routine care into a financial shock. I set out to understand how…
Pacific Gas and Electric is again asking regulators to let it charge customers more, even as bills in its territory already rank among the highest in the country. The utility argues that another round of increases is needed to harden its grid, reduce wildfire risk and keep investors on board, but critics say California has…
Millions of federal student loan borrowers who saw their payments frozen under President Biden’s new income-driven repayment program are now facing a very different reality. The temporary pause that shielded 7.6 m people in the Saving on a Valuable Education framework has ended, and the bills that disappeared into legal limbo are coming back with…
Gov. Kathy Hochul has finally disclosed how much she personally paid in New York City congestion tolls, a small but politically loaded detail in the broader deal that keeps the MTA’s controversial pricing system alive. The revelation lands as the program marks its first full year, with supporters touting cleaner air and stronger transit finances…
Cash used to feel like the one part of personal finance that was always within reach. Today, even money sitting in a checking or savings account can be surprisingly hard to access at the moment you need it most. New withdrawal limits, tighter monitoring, and account rules are quietly turning “cash on hand” into something…
President Donald Trump’s administration has moved to cancel a $1.8 billion federal loan guarantee for Arizona’s largest electric utility, abruptly halting a signature Biden-era clean energy investment in the Southwest. The decision strips Arizona Public Service of low-cost federal financing that was expected to accelerate new renewable generation and large-scale energy storage across the state….
Bank of America is moving to amplify President Donald Trump’s new child savings initiative, pledging to match the federal government’s $1,000 Trump account deposits for eligible families. By effectively doubling the seed money Washington is putting into these tax-advantaged accounts, the bank is positioning itself at the center of a high-profile experiment in long term…
JPMorgan Chase & Co. and Bank of America Corp are racing to align themselves with President Donald Trump’s signature child wealth initiative, promising to match the US Treasury’s $1,000 deposits into new “Trump Accounts” for their own employees’ families. Their move effectively doubles the seed money for eligible staff, turning a government pilot into a…
Massachusetts residents are being promised relief on winter gas and electric bills, but the fine print means many will effectively pay interest on that help later. The Healey administration’s push to blunt high heating costs has collided with the way utilities recover their expenses, turning a headline win on affordability into a complicated bargain for…