Securities and Exchange Commission Chairman Gary Gensler testifies before Congress on July 19, 2023. Win Mcnamee | Getty Images News | Getty Images ‘A sensible rule to protect investors’ “Climate risk is financial risk,” Elizabeth Derbes, director of financial regulation and climate risk for the Natural Resources Defense Council, said in a written statement. “This … Read more
Momo Productions | Stone | Getty Images Women face tough financial prospects in retirement. About 50% of women ages 55 to 66 have no personal retirement savings, a higher share than men (47%), according to U.S. Census Bureau data. Those who do have retirement savings are less likely to have $100,000 or more (22% vs. … Read more
Vivian Tu. Photo: Heidi Gutman Building wealth and saving for retirement can be more difficult for women facing challenges such as lower wages despite their increasing levels of education. An early-career mentor sparked a mindset shift for Vivian Tu, the founder of Your Rich BFF, who became a self-made millionaire by age 27. “I learned … Read more
Eric Raptosh Photography | Tetra Images | Getty Images It is often said that without risk, there is no reward. It’s a maxim that poker and chess pro Jennifer Shahade, author of “Play Like a Champion,” knows well. “In poker, risk and calibrating risk is the name of the game,” Shahade said during the CNBC … Read more
The author, Bola Sokunbi Credit: Bola Sokunbi When it comes to managing money, women commonly use the word “fear” to describe what stands between them and the life they want. But achieving financial success means stepping out of our comfort zone, said Bola Sokunbi, founder of Clever Girl Finance and author of “Choosing to Prosper” — … Read more
The days of double digit late fees for late credit card payments may be coming to an end. On Tuesday, the Consumer Financial Protection Bureau finalized a rule that will cap credit card late fees at $8. Currently, card users are typically hit with a $32 fee for late payments, according to the agency. The … Read more
Australian billionaire Gina Rinehart has handed out a total of $7 million in cashe prizes to employees over just a few months. The prizes were given as part of the celebrations at her recent 70th birthday party and previously at the company’s Christmas party, a spokesperson for Rinehart’s Hancock Prospecting confirmed to 7NEWS.com.au. The mining … Read more
Rohit Chopra, director of the CFPB, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress,” in the Dirksen Building on Nov. 30, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images The Consumer Financial Protection Bureau unveiled a new rule on Tuesday … Read more
Damircudic | E+ | Getty Images For many borrowers, the tax deduction is back There may be one bright spot for student loan borrowers whose bills resumed last October. Their 2023 tax bill could be a little lower. The student loan interest deduction allows qualifying borrowers to deduct up to $2,500 a year in interest paid on … Read more
If you’re struggling to make ends meet, you may be eyeing any cash you have stashed away for the future as a solution. In fact, about 1 in 5 workers have borrowed or withdrawn money from retirement accounts, according to a recent survey from SoFi. However, withdrawing money from a workplace retirement account, such as … Read more
