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NEW YORK (AP) — The U.S. Consumer Finance Protection Bureau has filed a proposed order to permanently ban Navient from directly servicing federal student loans, which the agency says will put an end "years of abuse." Under terms of last week’s order, which Navient agreed to without admitting any wrongdoing, the Virginia-based financial services [...]
MIAMI (AP) — The percent of United States residents who were foreign-born grew to its highest level in more than a century last year, according to figures released last week from a survey of American life. The share of people born outside the U.S. increased in 2023 to 14.3 percent from 13.9 percent in 2022, [...]
WASHINGTON (AP) — The post-pandemic spike in inflation eased further last month as year-over-year price increases reached a three-year low. A new report from the Labor Department showed that consumer prices rose 2.5 percent in August from a year earlier, down from 2.9 percent in July. It was the fifth straight annual drop. From July [...]
Few people who live near the East Palestine train derailment site opted out of a $600 million class action settlement despite residents’ reservations about whether the deal offers enough, so lawyers say the agreement should be approved later this month. The lawyers who negotiated the deal with Norfolk Southern on behalf of everyone affected by [...]
Discount retailer Big Lots has filed for Chapter 11 bankruptcy protection, as it contends with a pullback in consumer spending and soft sales. The Columbus-based company says it plans to sell its assets and business operations to private equity firm Nexus Capital Management. Big Lots, which sells furniture, home decor and other items, said in [...]
The Biden administration is examining the four largest airline frequent-flyer programs in the country and how they devalue points that consumers have earned and frequently change the number of points or miles needed to book flights. Transportation Secretary Pete Buttigieg last week wrote to the CEOs of American, Delta, Southwest and United, asking each for [...]
WASHINGTON (AP) — The nation’s labor market, which has experienced relatively low unemployment in recent years, has cooled, according to several employment statistics. The job market is now in an unusual place: Jobholders are mostly secure, with layoffs low, historically speaking, yet the pace of hiring has slowed and landing a job has become more [...]
Dollar Tree is slashing its full-year earnings and sales forecasts as company officials say its customers continue to struggle with higher prices and spend less. Shares hit a 52-week low earlier this week. Less than a week ago, shares of rival bargain chain Dollar General had their biggest one-day decline ever after a dismal quarter. [...]
WASHINGTON (AP) — When Jerome Powell delivered a high-profile speech last month, the Federal Reserve chair came the closest he ever had to declaring that the inflation surge that gripped the nation for three painful years was now essentially defeated. The Fed’s high interest rates, Powell said, had managed to achieve that goal without causing [...]
WASHINGTON (AP) — Consumer prices rose 0.2 percent from June to July, the Commerce Department said last week, up a tick from the previous month’s 0.1 percent increase. Compared with a year earlier, inflation was unchanged at 2.5 percent. Despite the near-end of high inflation, many Americans, according to polls, remain unhappy with today’s sharply [...]