U.S. Credit Card Defaults Surge to 14-Year High, Signaling Consumer Financial Strain
• 1 min read
Credit card defaults have reached their highest level since 2010, with lenders writing off $46 billion in seriously delinquent loans during the first nine months of 2024. The sharp rise in defaults, particularly among younger and paycheck-to-paycheck borrowers, points to mounting pressure on household finances after years of high inflation.
Biden Backs Congressional Stock Trading Ban, Questions Lawmakers' Ethics
• 1 min read
President Biden has publicly endorsed efforts to prohibit members of Congress from trading stocks, marking his first clear stance on this contentious issue. The President's support bolsters the ETHICS Act, which would prevent lawmakers and their families from buying stocks while serving in Congress.