Regulation Best Interest, or Reg BI, is a series of rules from the Securities and Exchange Commission (SEC) that govern how broker-dealers and financial advisors must treat their customers. Specifically, it says that these entities must act in the best interests of their client — which sounds clear enough —…
Key takeaways A mortgage preapproval is a statement of how much money a lender is willing to let you borrow to pay for a home. There are several important steps in the preapproval process, such as shopping around for lenders and gathering financial documents. Getting a preapproval makes it more…
Photography by Getty Images Key takeaways The Bank of America® Premium Rewards® credit card may not be the strongest option for travel enthusiasts, but it benefits existing Bank of America customers in the Preferred Rewards program. The card has a $95 annual fee and offers unlimited 2X rewards on travel…
Key takeaways Financing an established business can be easier than starting a new venture. Business acquisition loans rely on your personal financial capacity and the historical performance of the business you are purchasing to determine eligibility. Personal funds, seller financing and private equity or venture capital are alternative ways to…
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New York startup Casap has raised $25 million in new funding to help banks tackle the thorny problem of credit…
Many people in economics, finance, business, and regular consumer life have been waiting for the forecast inflation, the tariff shock,…
President Trump’s 2026 budget would freeze spending for many services for older adults, deeply cut others, continue his efforts to…
The Trump administration is clamping down on federal student loan defaults; at the same time, Republican lawmakers in Congress just…
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Key takeaways United MileagePlus miles can be earned and redeemed with United Airlines, Star Alliance partners, non-Star Alliance airline partners and a whole slew of other travel partners. United miles can be earned through flights on the airline or its partners as well as through…
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Key takeaways It may be difficult to obtain a new loan after you enter a debt management plan, especially if you have recently…
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OBSERVATIONS FROM THE FINTECH SNARK TANK In 2022, President Biden signed an executive order directing the government to develop a framework for digital…
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Social Security is a key source of income for millions of retirees. And knowing what the average Social Security check looks like at age 66 can help you plan more effectively. For those born before 1960, their full retirement age (FRA) is between 66 and 67. While those born after…
Key Takeaways Mobile check deposit lets you deposit checks by taking photos with your smartphone instead of visiting a bank branch or ATM. Most major banks offer this feature through their mobile apps, including Chase, Bank of America and Capital One. Banks typically set daily or monthly limits on mobile…
A financial advisor can have a major impact on your finances — both for good and bad. The best financial advisors can help you stick to a long-term investing plan that meets your investment goals over time, while the worst advisors are more likely to put you in investments that…
Winning the lottery is life-changing. Of course, odds are you won’t — the chance of hitting a Powerball jackpot is 1 in 292 million. For context, your odds of being struck by lightning over a lifetime are about 1 in 15,000. But if you are lucky enough to catch lightning in…
Key takeaways Factor rates are a fixed fee multiplied by the entire loan up front, which means that you’ll pay the entire fee even if you pay the loan off early To compare loans with traditional interest rates and factor rates, you’ll need to convert factor rates to interest rates…
If you’ve ever read through your policy, you’ll typically see several kinds of coverage listed. One of these is hazard insurance, which just covers damage to the physical structure of your home. The rest of your home insurance policy provides coverage for things like your personal property and liability. You…
Here’s what it could mean for Trump’s ongoing battle with Powell Powell has taken much of the heat from President Donald Trump, but he’s not the only Fed official believing the U.S. central bank should leave interest rates alone. At Federal Open Market Committee (FOMC) meetings, 12 officials get a…
EMILI_VISION/Getty Images Key takeaways American Express adheres to the Servicemembers Civil Relief Act by limiting interest, annual membership fees, late fees and returned payment fees for eligible cardmembers. The Platinum Card® from American Express is great for active-duty military because it offers various benefits like airport lounge access, airline fee…
If you’re feeling like you’re not on the same financial page as your partner, or you don’t understand your partner’s financial habits, you’re not alone. More than 3 in 5 Americans (62 percent) in committed relationships keep at least some of their money separate from one another, according to Bankrate’s…
When you’re traveling, the right bank account can save you money in fees and help you manage your money while you’re abroad with ease. From fee-free ATM access and no foreign transaction fees to earning rewards for travel, here are some of the bank account features to look for if…
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