Latest Personal finance News

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US housing roars back despite recession, high unemployment

Oct. 1, 2020 11:36 AM EDT

LOS ANGELES (AP) — The U.S. housing market has staged a furious comeback this summer, even as the economy struggles to regain its footing after being knocked into a recession due to the coronavirus. After stalling in the first few weeks of the pandemic, U.S. home sales have surged in recent months to the...

Federal Reserve extends ban on big bank dividends, buybacks

Sep. 30, 2020 5:55 PM EDT

NEW YORK (AP) — The Federal Reserve is extending until the end of the year its restrictions on large banks and financial services companies paying out dividends and buying back stock. The Fed made the announcement Wednesday aimed at bolstering the banks as the coronavirus pandemic has causes millions of...

Victims committee eyes subpoenas for Boy Scouts records

Sep. 30, 2020 5:41 PM EDT

DOVER, Del. (AP) — The official committee representing survivors of childhood sexual abuse in the Boy Scouts of America bankruptcy is asking for authorization from the judge to issue subpoenas for information that it claims is being withheld by the organization and its local councils. Attorneys for the...

Editorial Roundup: US

Sep. 30, 2020 3:49 PM EDT

Excerpts from recent editorials in the United States and abroad: ___ Sept. 30 The San Francisco Chronicle on the presidential debate: Americans should be saddened, if not angered, by the distressingly unhinged debate between President Trump and former Vice President Joe Biden on Tuesday night. Some of the blame...

FILE - In this Friday, Dec. 22, 2017 file photo, President Donald Trump speaks to reporters after signing a tax bill and continuing resolution to fund the government, in the Oval Office of the White House in Washington. Trump’s true financial picture has gotten renewed scrutiny in the wake of a New York Times report in September 2020 that he declared hundreds of millions in losses in recent years, allowing him to pay just $750 in taxes the year he won the presidency, and nothing for 10 of 15 years before that. (AP Photo/Evan Vucci)

A lesson from Trump taxes: An underfunded IRS is outmatched

Sep. 30, 2020 2:36 PM EDT

WASHINGTON (AP) — Revelations of President Donald Trump’s near-zero federal income tax payments have underscored the ability of wealthy individuals with high-priced lawyers to outmatch an IRS that has long been understaffed and underfunded. A result is that the IRS has tended to pursue taxpayers of...

FILE - In this July 21, 2020, file photo, a homeowner tours their new home, in Washingtonville, N.Y.  Home improvement projects and furniture purchases have increased as people spend more time at home due to the pandemic. Some people may not realize that their homeowners or renters insurance doesn’t automatically cover every change. (AP Photo/John Minchillo, File)

Upgrading your space while stuck at home? Get it insured

Sep. 30, 2020 8:16 AM EDT

As many Americans face months on end stuck indoors, some are using their time (and money) to create a change of scenery or upgrade their surroundings. Office equipment purchases are on the rise, and people are tackling more renovation projects than usual. But expensive new stuff and significant home improvements...

President Donald Trump listens to Democratic presidential candidate former Vice President Joe Biden during the first presidential debate Tuesday, Sept. 29, 2020, at Case Western University and Cleveland Clinic, in Cleveland, Ohio. (AP Photo/Morry Gash, Pool)

The Latest: Trump casts election doubts, Biden urges voting

Sep. 29, 2020 11:05 PM EDT

WASHINGTON (AP) — The Latest on the 2020 presidential election (all times local): 10:50 p.m. President Donald Trump and Democrat Joe Biden are painting a very different picture of the reliability of the upcoming election. Biden urged voters to cast their ballots and not be intimidated by Trump’s...

Democratic presidential candidate former Vice President Joe Biden walks off stage after giving a speech on the Supreme Court at The Queen Theater, Sunday, Sept. 27, 2020, in Wilmington, Del. (AP Photo/Andrew Harnik)

Biden releases 2019 taxes as pre-debate contrast with Trump

Sep. 29, 2020 5:53 PM EDT

WASHINGTON (AP) — Democratic presidential nominee Joe Biden paid nearly $288,000 in federal income taxes last year, according to returns he released just hours before his Tuesday night debate with President Donald Trump. The move came following a report from The New York Times that Trump paid just $750 in...

President Donald Trump speaks about coronavirus testing during an event in the Rose Garden of the White House, Monday, Sept. 28, 2020, in Washington. (AP Photo/Evan Vucci)

Ethics experts see national security concern in Trump's debt

Sep. 29, 2020 4:25 PM EDT

WASHINGTON (AP) — Revelations that President Donald Trump is personally liable for more than $400 million in debt are casting a shadow that ethics experts say raises national security concerns he could be manipulated to sway U.S. policy by organizations or individuals he’s indebted to. New scrutiny...

FILE - In this Sept. 9, 2020, file photo, Sen. Joni Ernst, R-Iowa, speaks during a news conference on Capitol Hill in Washington. Ernst will debate Democratic nominee Theresa Greenfield, Monday, Sept. 28, 2020, In Johnston, Iowa. (AP Photo/Jacquelyn Martin File)

Iowa US Sen. Ernst says court view 'consistent' in debate

Sep. 29, 2020 4:17 PM EDT

DES MOINES, Iowa (AP) — Iowa U.S. Sen. Joni Ernst said Monday night she had been “very consistent” in her views on Supreme Court justices despite supporting a vote on President Donald Trump’s nominee while working with other Republicans to block a nomination by President Barack Obama....