Homeowners Flock to Cash-Out Refis Thanks to Equity Boom
Homeowners are cashing in on years of home equity gains, even as mortgage rates remain elevated, and have taken out billions of dollars in loans in Massachusetts alone.
Trump Opens Door to 401k Investments in Real Estate, Crypto
An executive order signed Thursday by President Donald Trump could give real estate projects, private equity and cryptocurrency firms long-sought access to a pool of funds worth trillions.
CT Sun Move to Boston Would Include New $100M Practice Facility
A group led by Celtics minority owner Steve Pagliuca has reached a deal to buy the Connecticut Sun for a record $325 million and move the team to Boston.
OpenAI Exec Warns of AI Voice Fraud Crisis in Banking
The financial industry faces a “significant impending fraud crisis” because of the technology’s ability to bypass security checks and move money, Sam Altman said.
More Americans Shift Money from Savings to Investment Accounts, Study Says
New research identifies a trend that helps to explain the resilience of the U.S. economy after a bout of high inflation and recent uncertainty due to tariffs.
Employees Say Consumer Watchdog Now Toothless
CFPB employees say they have been forbidden from doing any work by directive from the White House. Some bankers had accused the agency of overreach.
The Tariff-Driven Inflation that Economists Feared Begins to Emerge
Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances.
JPMorgan Posts Strong Second Quarter Amid Tariff Warning
CEO Jamie Dimon noted that plenty of risks to the U.S. economy remain, including trade uncertainty, geopolitical conflicts and federal government deficits.
As Trump Ramps Up Attacks, Fed Chair Refuses to Change Course
Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump’s tariffs effect the economy.
Gloomy Americans Cut Back on Spending as Inflation Ticks Higher
A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans also cut back on their spending last month.
Fannie, Freddie Ordered to Consider Crypto as Asset When Underwriting Mortgages
The head of the federal government agency that oversees Fannie Mae and Freddie Mac wants the mortgage giants to consider accepting a homebuyer’s cryptocurrency holdings in their criteria for buying mortgages from banks.
What Happens to Trump’s Tariffs Now That a Court Has Knocked Them Down?
A federal court blocked the president’s audacious plan to impose massive taxes on imports, but it may not be the end of the story.
Consumer Confidence Rebounds After Five Straight Months of Declines
Americans’ views of the economy improved in May after five straight months of declines sent consumer confidence to its lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump’s tariffs.
Fed Likely to Defy Trump, Keep Rates Unchanged Tomorrow
The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite weeks of harsh criticism and demands from President Donald Trump that the Fed reduce borrowing costs.
Trump Administration Swiftly Undoing HUD’s Transgender Protections
The Trump administration is swiftly remaking housing policy as the U.S. Department of Housing and Urban Development retreats from long-established fair-housing protections for transgender people.
1.6K Mass. Renters Could Risk Eviction if Congress Doesn’t Act
A federal program that pays rent for some 60,000 families and individuals fleeing homelessness or domestic violence could end by next year if more funding isn’t made available.
Nearly 90 Percent of CFPB Cut as Trump Tries to Eliminate Agency
President Donald Trump is drastically shrinking the workforce and mission of the Consumer Financial Protection Bureau, eviscerating an agency created after the Great Recession with the goal of protecting Americans from fraud, abuse and deceptive practices.
Trump Says Fed Chair’s ‘Termination Cannot Come Fast Enough’
President Donald Trump slammed Federal Reserve Chair Jerome Powell on Thursday after Powell signaled that the Fed will keep its key interest rate unchanged while it seeks “greater clarity” on the impact of Trump’s policies.
JPMorgan Nearly Doubles Provision for Loan Losses
JPMorgan’s net income rose 9 percent in the first quarter and the New York bank beat Wall Street’s profit and revenue targets, but its chief executive warned of global economic uncertainties ahead due to tariff chaos.
Bill Overturning Bank Overdraft Fee Limits Heads to Trump’s Desk
The House voted Wednesday to overturn a rule that would have limited bank overdraft fees to $5, following the Senate in moving to dismantle the regulation that the Biden administration had estimated would save consumers billions of dollars.
