Author: News Room

The number of Americans who tapped their 401(k) savings to cover financial emergencies increased in 2022, according to a recent report. Nearly 3% of workers made hardship withdrawals from their defined contribution plan in 2022, an increase from the 2.1% in 2021, Vanguard’s How America Saves 2023 report said. Plan loans, which allow participants to borrow from their retirement savings account, also increased by 9% in 2022 compared to 2021 but remained below pre-pandemic levels, the report said. People with 401(k) plans can access their defined contribution plan assets before retirement by borrowing from their account balance or through a hardship or in-service…

PacWest Bancorp shares slid even after its subsidiary Pacific Western Bank raised 1.4 billion from Atlas SP Partners. The Los Angeles-based financial group said it explored the idea of raising new capital but decided against the move due to a rout in bank stocks. In a statement issued by the bank on Wednesday, Paul Taylor, Pacific Western Bank president and CEO, said the bank was encouraged by “the clear message from government officials, regulatory agencies, and industry leaders, including Secretary [Janet] Yellen’s recent remarks regarding the protection of smaller bank depositors.””As we look ahead, we have continued confidence in the…

DoorDash and Chase, undeterred by the uncertain economy and growing concerns of a recession, have launched their first co-branded credit card.  It is called the DoorDash Rewards Mastercard. It is a no fee World Elite Mastercard that is aimed at driving traffic to local businesses both on and off the platform while rewarding cardholders on every purchase.Credit card users will not only get unlimited cash back for DoorDash and Caviar orders, but they will also get rewards for all other online and in-store purchases including at grocery stores, restaurants and other national and local retailers, the companies announced in a…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. During the week of March 13, 2023, average private student loan rates fell for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 10-year variable-rate loans, but rose for 5-year variable-rate loans. 10-year fixed rate: 7.15%, down from 8.83% the week before, -1.685-year variable…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Based on data compiled by Credible, mortgage rates for home purchases have risen for two key terms and remained unchanged for two terms since yesterday. Rates last updated on March 29, 2023. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has…

What’s trending in porcelain and ceramic tile? And why should builders, designers, architects, homeowners and even real estate professionals care? Tile is a versatile, multi-surface, time-tested material that can enhance the sustainability, wellness potential and resilience of the homes it clads. “All of the above are important considerations when selecting tile,” emailed Jennifer Richinelli, editorial director of TILE and Contemporary Stone & Tile Design magazines that cover these realms for the building industry. “Sustainability is very important to many specifiers, and I have noticed that more and more manufacturers are promoting their sustainable campaigns – some even now having carbon-neutral…

If you’ve ever experienced a sunburn, you understand how even the smallest touch to sunburned skin can be excruciating. Even wearing clothing can be agonizing. Sunburns make your skin hyper-sensitive, so that normal circumstances trigger exacerbated reactions. Your life can become sunburned as well. We often get into a routine in life, where we wake up, work, handle family obligations, rinse and repeat. Hitting one bad day within that routine isn’t a sunburned life. A sunburned life is more akin to when you realize that the little things that shouldn’t bother you, are all that bother you now, and your…

Over the past couple of weeks, the IRS has been rolling out its list of tax scams for 2023. Now that the IRS annual Dirty Dozen campaign has wrapped, here’s a look at what taxpayers should watch out for this year. Dirty Dozen The “Dirty Dozen” is an annual list of common scams taxpayers may encounter. Many of these schemes peak during tax filing season as people prepare their returns or hire someone to help with their taxes. The schemes put taxpayers and tax professionals at risk of losing money, personal information, data, and more. “Scammers are coming up with…

Self-employed women, broadly speaking, felt the full brunt of the Covid downturn at greater numbers than nearly any other group. The rate of self-employed mothers working at least 30 hours a week, for instance, dropped by more than 40% in one month from March to April 2020, according to Federal Reserve data. The rates of self-employed fathers working at least 30 hours a week dropped by 18% in comparison. That number has reversed, according to new data from the Federal Reserve Bank of Dallas. In the years that followed the initial Covid surge, the number of women and mothers that…

The signs are getting clearer that more labor disruption—colloquially known as millions losing existing jobs, new opportunities, income, and safety—are likely on their way. “Employment rose less than expected in March according to ADP’s estimate of private payrolls,” said Bill Adams, chief economist for Comerica CMA Bank, in an emailed statement. “The ADP report, like yesterday’s report of a big drop in job openings, supports the Fed holding interest rates unchanged at their next decision in May.” The report yesterday in job openings was the ongoing jagged declination that began after the historical peak in April 2022, as the graph…