The so-called K-shaped economy is becoming more pronounced, new data shows. In the aftermath of the Covid pandemic, the K has been used to illustrate Americans’ diverging economic experiences: Higher-income households are increasingly better off, while lower-income households are falling further behind. A new report by credit reporting bureau TransUnion found that while credit conditions have improved…
The Federal Reserve held interest rates steady at the conclusion of its policy meeting on Wednesday. In what could be Jerome Powell’s last as chair before President Donald Trump’s yet-to-be-confirmed nominee Kevin Warsh takes the helm, central bankers maintained the federal funds rate in a target range of 3.5% to 3.75%. Inflation has surged since the war with Iran…
In 2017, Brittany Greene was on track to be promoted from an assistant to a business analyst position at her company, she says. She’d earned her master’s degree in project management and shadowed with the team. But Greene didn’t get the job — and says her poor credit history played a role. “I actually found…
Morsa Images | Digitalvision | Getty Images There’s a line item in homebuyers’ closing costs that’s causing a clash in the mortgage industry: the fee for lenders to check borrowers’ credit. While the charges — typically in the tens or hundreds of dollars — represent a tiny slice of the amount that buyers pay when…
Julpo | E+ | Getty Images The student loan delinquency rate is surging, new research finds. Nearly 25% of student loan borrowers with a payment due are now behind, compared with around 9% in 2019, during President Donald Trump‘s first term, according to a report published Friday by The Century Foundation, a left-leaning think tank….
Alexander Spatari | Moment | Getty Images If you’ve fallen behind on your student loans, it may be more challenging to get a property manager to approve you for rental housing, financial experts say. “Delinquency is a bad sign for creditworthiness, and landlords may choose not to rent to potential tenants who are having a…
Wayne Johnson at the Gables of Wolf Creek, the retirement community he owns in Macon, Georgia Annie Nova | CNBC A Republican who oversaw the country’s $1.6 trillion federal student loan portfolio during President Donald Trump‘s first term has funded a class action effort against the administration over its current borrower policies. The proposed class…
Pavlo Gonchar | Lightrocket | Getty Images Fair Isaac, the creator of the FICO score, saw shares rally more than 20% on Thursday after it unveiled a new pricing model that will allow mortgage lenders to bypass credit bureaus for credit scores. The Montana-based data analytics company said it would license its credit scores directly…
