Oregon man cashes in forgotten lottery ticket, wins $8.9M

Wilbur Brown of Oregon purchased his winning multi-drawing lottery ticket on Christmas Eve in 2021 and forgot about it until February 2022. That’s when he found out he won the $8.9 million jackpot.

Federal Reserve hikes interest rate to fight inflation, more to come

The Federal Reserve launched a high-risk effort to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.

Biden to sign order mandating study of cryptocurrency as its use explodes

The Biden administration views the explosive popularity of cryptocurrency as a call for acting with urgency to look at the risks and benefits of digital assets.

Mastercard, Visa suspend operations in Russia amid Ukraine invasion

Mastercard said cards issued by Russian banks will no longer be supported by its network and any card issued outside the country will not work at Russian stores or ATMs.

Interest rates could increase more than traditional quarter-point, US Fed governor says

Federal Reserve Governor Michelle Bowman says she's open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March.

IRS to end facial recognition for identity verification

The IRS is moving away from the use of facial recognition for identity verification. This transition will occur over the coming weeks to avoid a disruption to tax filing season.

Retail sales drop 1.9% in December following early holiday rush

Americans sharply cut their spending in December after a burst of early spending in the fall that helped bolster the holiday season.

Bank of America cuts overdraft fees

Bank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks.

US debt ceiling: Congress sends Biden $2.5T increase, avoiding default

Congress averted a debt default early Wednesday after Democratic majorities voted to send a $2.5 trillion debt ceiling increase to Biden over Republican opposition.

Biden: Prescription drugs ‘outrageously expensive’ in US, calls on Senate to act

President Joe Biden pushed his “Build Back Better” agenda, focusing on how provisions of the spending bill would lower the cost of prescription drugs for many.

Treasury targets all-cash real estate deals in anti-corruption effort

The Treasury Department may expand reporting requirements on all-cash real estate deals to help crackdown on bad actors' use of the U.S. market to launder money made through illicit activity.

What is a personal line of credit?

A personal line of credit is a type of revolving credit that can be used to cover expenses like home renovations. Here’s what you need to know before applying.

Capital One becomes first large bank to drop all overdraft fees

Capital One Bank announced that it will eliminate all fees for overdrafts and insufficient funds, becoming the largest bank to do so.

Social Security benefits see highest boost in 40 years, but inflation is higher

Social Security benefits will increase at their highest rate in 40 years, but the latest inflation numbers are even higher. Next year's increase may not be enough for seniors living on Social Security income.

This is the state where student loan borrowers struggle the most to repay their debt: report

A new study compared the average student loan debt to median annual earnings for student loan borrowers two years after graduation. See what you can do if you want to avoid delinquency.