Why High Credit Card Delinquencies Aren’t Showing Up at the Big Banks
Oyin Adedoyin and Elyse Goncalves, Wall Street Journal
Lenders’ results contrast with measures that show the highest credit card delinquency rates in 15 years
Americans have been falling behind on their credit card bills at the highest rate in 15 years. You wouldn’t know it from the big banks’ earnings on Tuesday. Some 13% of credit card balances were 90 days or more delinquent in the first three months of the year, according to data released in May by the Federal Reserve Bank of New York…
Read moreA CBS Journalist Who Covers Scams Rushed to His Bank to Withdraw Money After Nearly Falling for An Imposter Scam
Christy Bieber, Yahoo Finance
In 2025, victims lost $3.5 billion (1) to imposter scams. Now, CBS News chief correspondent Matt Gutman nearly became a victim of one of those scams.
“I just got SCAMMED,” Matt Gutman posted in a video on X (2) on July 10. Gutman explained that “fraud protection” at his bank called and told him that people were illegally withdrawing money from his account. Despite thinking of himself as “savvy,” Gutman said he nearly fell for the scam, getting as far as going to the local branch and starting the process of withdrawing funds before he thought twice…
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House Passes Common Cents Act to Help Phase Out Penny
Chad de Guzman, Time Magazine
ince the final batch of American pennies for circulation was minted in November last year, consumers and businesses across the country have resorted to various ways of managing transactions pennilessly.
A bipartisan proposal, however, offers to standardize the process in support of the smallest-value coin’s phaseout. On Tuesday, the House of Representatives passed the Common Cents Act, which would introduce rounding guidelines for cash transactions when exact change is unavailable and would legally end penny production other than for sale as numismatic or collection items…
Read more19 States Pass Rounding Bills Since Last Penny Was Minted
Emma Kinery, CapitolWire
Nineteen states have enacted laws this year in response to the U.S. Treasury Department’s phase-out of the penny, giving merchants guidance on rounding cash transaction totals to the nearest nickel.
Bills in two other states are awaiting governor signatures, and lawmakers in six states are still considering bills. Nine other states have issued guidance but not passed legislation…
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