Money, Wealth & Power—A Daily Look at the Financial World
Debanking, once an obscure industry term, is suddenly at the center of a high-stakes political and legal fight. President Donald Trump has filed a multibillion-dollar lawsuit accusing one of the world’s largest banks of using account closures as a weapon against him. The case turns a technical question about risk management into a test of…
Verizon has quietly rewritten the rules that once made it relatively painless to take your phone to another carrier. A long standing promise to unlock devices after a short period has been replaced with a far tougher standard that keeps new phones tied to Verizon for most of a year. The change arrives just as…
President Donald Trump is rapidly rewriting federal energy policy, pulling back tens of billions of dollars in government support for wind, solar, batteries, and grid upgrades while steering public finance toward natural gas and nuclear power. The shift guts a core pillar of Biden-era climate strategy and replaces it with a vision centered on big…
New York City’s latest attempt to shore up delivery worker pay has set off a fierce clash between regulators, gig platforms, workers, and customers. A new tipping rule, paired with an aggressive minimum pay regime, is forcing apps to change how they nudge users to reward couriers and how they structure fees. The result is…
Tesla is stripping key highway automation from new cars in the United States and Canada and shifting those capabilities behind a monthly subscription, turning what used to be a built-in selling point into an ongoing bill. The change affects familiar Autopilot behaviors on multi-lane roads and folds them into the company’s paid Full Self-Driving (Supervised)…
Once a savings account crosses $250,000, the number on the screen stops being just a milestone and starts to determine how much of that money is actually protected. The federal insurance system, bank compliance rules, and even your long term returns all change once you move past that line. I want to unpack what really…
Student-loan borrowers are being yanked between promises of relief and threats of harsher collection under President Donald Trump, creating a policy roller coaster that makes long-term planning nearly impossible. One month, the White House is pausing collections on defaulted loans; the next, it is moving to shut down repayment plans and forgiveness programs that millions…
Treasury Secretary Scott Bessent is signaling that the Biden-era approach to bank oversight is over, and that the United States is on the cusp of what he calls a “fundamental reset” in how its financial system is regulated. His emerging blueprint aims to strip back layers of post-crisis rules, give banks more room to lend…
Shoppers who rely on plastic for their weekly runs at Walmart and Target are about to feel a new kind of sticker shock. A long running fight over credit card “swipe fees” is reaching a turning point, and the fallout is expected to land directly at the checkout counter. Instead of quietly absorbing rising processing…
Amazon’s chief executive is telling shoppers to brace for a new wave of higher prices, and this time the warning is not about temporary holiday surcharges or one-off fees. The company that helped train consumers to expect fast, cheap delivery is now signaling that a broad cost shock is building across its marketplace, its logistics…