Money, Wealth & Power—A Daily Look at the Financial World
The US Mint has stopped making pennies as of October 31, 2025, leading to widespread shortages that have affected banks and retailers across the nation. This scarcity has prompted some McDonald’s locations to begin rounding cash transactions, meaning some customers might not receive the exact change with their orders. This development marks a significant change…
Costco members are expressing significant dissatisfaction with new shopping rules introduced in September 2025. These changes, which are set to take effect this week, have sparked a heated debate among shoppers. The primary source of contention is a major adjustment related to executive perks, which some members perceive as unfair advantages amidst broader policy shifts….
Direct student loans, provided by the U.S. Department of Education, are a cornerstone of federal financial aid, offering students a way to fund their education without the need for private lenders. These loans are designed to make higher education more accessible by providing various options tailored to different needs, such as consolidation and refinancing. As…
The White House has recently announced a significant agreement to cancel debt for millions of American borrowers, aiming to implement this relief swiftly. This initiative is designed to provide immediate financial relief to a wide range of borrowers, potentially transforming their financial situations through rapid debt forgiveness. Individuals can determine their eligibility by following straightforward…
Business loans are designed to support commercial activities, but the temptation to use these funds for personal expenses like home renovations or vacations can be strong. Such misuse can lead to audits or legal action, as it often violates loan agreements and tax regulations. This can result in penalties that endanger both personal and business…
Homeowners across the United States are increasingly turning to home equity lines of credit, or HELOCs, to access their growing equity for home improvements. With total home equity reaching a record $31 trillion in the first quarter of 2024, according to the Federal Reserve, these financial tools are becoming more popular. A new variant of…
Brittany Monique McLaughlin, a former Wells Fargo employee, is facing serious allegations of theft after being accused of draining over $26,000 from the account of a deceased 90-year-old woman in Gresham, Oregon. The suspicious activity was uncovered by the victim’s niece, who noticed irregularities while monitoring the account. This discovery led to McLaughlin’s indictment on…
As the government shutdown continues to strain the finances of federal workers, many are turning to no-interest loans to bridge the gap left by missed paychecks. This financial lifeline has become a focal point for lawmakers who are assessing the benefits and potential pitfalls of such tools for employees facing financial hardship. Additionally, federal workers…
Several U.S. states, including Connecticut and Oregon, have filed lawsuits against the Trump administration, challenging a new rule that restricts eligibility for the Public Service Loan Forgiveness (PSLF) program. This rule excludes certain employers from qualifying as public service roles. New York Attorney General Letitia James has also joined the legal action by suing the…
The U.S. Education Department is facing legal challenges over a new rule introduced under the Trump administration that restricts Public Service Loan Forgiveness (PSLF) for public servants. Critics argue that this rule could deny debt relief to essential workers such as police officers, teachers, and nurses. On November 3, 2025, New York Attorney General Letitia…