Savers may want to lock in high interest rates for the long haul before they likely head lower later this year. But is 100 years too long? Concord, New Hampshire-based Walden Mutual Bank is finding out. The financial institution is offering a100-year Local Impact Certificate of Deposit (CD) paying a fixed 4.75% annual interest rate.
Inflation, undersupply, high demand and exorbitant home prices are often reasons cited for why rents are high. But there’s another few people talk about, rampant fraud. Since the pandemic, rental fraud has exploded nationwide. Nearly all respondents (93.3%) to a survey of members of the National Multifamily Housing Council (NMHC) and the National Apartment Association
Annuities are an essential component of the American retirement system, starting with Social Security. Why, then, do so few Americans understand them? Most of us, it seems, are pretty much clueless about annuities. In one recent study, the American College of Financial Services gave older Americans a score of 12% out of a possible 100%
The top Biden official overseeing federal college financial aid has resigned, the Education Department said Friday, capping off a year of turmoil for students and universities. Richard Cordray, the chief operating officer for Federal Student Aid, will step down at the end of June, officials said. The former head of the Consumer Financial Protection Bureau,
The stock market, not to mention life itself, has been a rollercoaster over the past few years. In rinse-and-repeat-like cycles, stocks have tumbled as the pandemic, inflation or the Federal Reserve’s interest rate hikes have darkened the economic outlook — and rebounded as COVID or inflation have eased and the Fed has forecast market-friendly rate
Investors in Coupang(NYSE: CPNG), South Korea’s biggest e-commerce company, have had a challenging time over the last few years. The company went public on March 11, 2021, at $35 per share and closed at an all-time high of about $50 later that month. But in the subsequent months and years, it slowly gave up all
With inflation picking up again and highly anticipated Federal Reserve interest rate cuts delayed, it may be a good time for Americans to tweak their investment and retirement portfolios, financial advisers say. While U.S. rate cuts are on hold, the European Central Bank (ECB) suggested last week that its first rate cut could come in
My husband and I both work full time. We like our jobs, but we work hard. Our reward? Sending thousands of dollars to the federal government each year. Much like millions of other Americans on Tax Day, we had to write a large check and send it off to the Internal Revenue Service. It’s always painful
A Nebraska man operated a large-scale “cryptojacking” scheme that defrauded cloud computing service providers out of more than $3.5 million worth of services, the U.S. Attorney’s Office said Monday. Charles O. Parks III, 45, also known as “CP3O,” has been charged with wire fraud, money laundering, and engaging in unlawful monetary transactions in connection with
On Monday, President Joe Biden’s administration unveiled yet another student debt relief plan. It was the latest announcement from a presidency that will be remembered for student loan debt forgiveness, regardless of your place on the political spectrum. By this fall, more than 30 million people may benefit from the new proposals, which are supposed