Here’s Why Your Credit Card Perks Could Be Going Away Simply put, the Credit Card Competition Act of 2023 would kill the funding for credit card rewards programs and allow retailers to pocket the savings from lower interchange fees, also known as swipe fees. With lower fees collected, consumers would…

Several members of Congress are pushing a misnamed bill called the Credit Card Competition Act. The purpose is to engineer lower fees that merchants pay to banks and credit card networks when they accept credit cards, usually 2%-3% of the price of the item purchased. As this segment of What’s…

According to a report, the high cost of insuring an electric car in Britain and a lack of competent repairers will jeopardize the emerging market for EVs unless urgent action is taken. The report, from automotive risk intelligence company Thatcham Research and the British government agency Innovate U.K., said there…

It’s graduation season, a time when many individuals embark on their career journeys after completing their education. In today’s ever-evolving job market, an increasing number of graduates are choosing entrepreneurship. According to a global survey, around 11% of students already own and run businesses, with at least 18% of students…

Topline The Congressional Budget Office predicted Tuesday that federal debt held by the public will grow to a record 107% of gross domestic product by 2029 and soar to 181% by 2053—a debt burden that would far exceed all previously recorded levels. Key Facts The projections, which are dependent on…

The latest attempt to hold executives accountable for bank failures was approved by members of the Senate Banking Committee Wednesday, passing a bill that will let regulators claw back compensation and institute penalties for misconduct. Read the full article here

When Stacey Marmolejo was looking to expand her music school franchise several years ago, she went to the national bank where she had an account and asked to secure an expansion loan. “I thought my financials and my experience with the bank would be enough,” she says. “But the banker…

Financial markets have long anticipated that the Federal Reserve would temporarily halt the raising of interest rates, as various measures of inflation are down by almost half of what they were a year ago. Unfortunately, however, our central bank remains in thrall to its wrong-headed notion that the only way…

“We’ve been building more and more in harm’s way” – Sean Kevelighan, CEO of the Insurance Information Institute Here is an edited excerpt from this week’s CxO newsletter. To get this to your inbox, sign up here. The haze here in New York has lifted from the wildfires in Canada,…

Topline Amid signs inflation continues to ease, the Federal Reserve decided to hold interest rates steady at the conclusion of its policy-setting meeting on Wednesday—forgoing an additional hike for the first time since officials started raising rates last March but also unexpectedly signaling at least one more increase may be…