Just over the past five years or so since the Great Recession, mounting student loan debt has grown at such a staggering rate that many experts say this troubling trend threatens the nation’s economic growth.
U.S. commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $43 billion in the second quarter of 2015, the highest quarterly income on record, the FDIC said Tuesday.
Many older 401(k) account holders, including Baby Boomers close to retirement age, had stock allocations higher than those recommended for their age group, Fidelity found.
“For the segment of taxpayers who required help from the IRS , the filing season was by far the worst in memory.”
The demand for cash in Greece may be fueling interest among Europeans in alternative currencies, such as bitcoin.
The “bottom 99% incomes grew by 3.3% from 2013 to 2014, the best annual growth rate since 1999.”
Only 28 adequate and affordable units nationwide are available for every 100 renter households with incomes at or below 30 percent of the area’s median income.
A “streamlined process” will be formulated to discharge loans tied to any college found to have defrauded borrowers, according to a statement by the Department of Education.
Among those with some retirement savings (the remaining 48 percent), the median amount of those savings is about $104,000 for households age 55-64 and $148,000 for households age 65-74.
JPMorgan Chase, Bank of America and Wells Fargo Bank each reported more than $350 million in overdraft fees for the first quarter.