Showing 474 results for:
finance
Popular topics
All results
For anyone hoping that new IRS direct deposit relief payments would arrive this November, the IRS and federal officials say no new stimulus or relief payments have been approved for 2025. IRS Direct Deposit Relief Payment The claims follow months of online discussion about potential federal aid programs. According to USA Today, payments have been referred to under labels such as “direct deposit relief,” “tariff rebate,” or “DOGE dividend.” The IRS says no new federal stimulus payments or rebates have been authorized, per the outlet. The only proposal under consideration is the American Worker Rebate Act of 2025, introduced by Sen. Josh Hawley (R-Mo.), which would provide payments ranging from $600 to $2,400 to qualifying taxpayers if enacted. As of November, the bill has not moved through Congress, and no payments are currently authorized. USA Today also noted that the last round of federal stimulus payments was distributed in response to the pandemic. Individuals who did not...
Citibank has lowered its base lending rate by 0.25% on Oct. 30, 2025, from 7.25% to 7.00%, according to a Citibank news release. This follows a similar reduction in September, the bank announced, and comes a day after the U.S. Federal Reserve lowered its policy rate to a 3.75%–4.00% range, the lowest in three years, CNN reports. Borrowers with floating-rate loans tied to Citibank’s base rate may see lower interest payments, potentially saving hundreds of dollars annually, according to The Economic Times. The cut aligns the bank’s lending rate with the U.S. prime rate, standardizing borrowing costs for individuals and businesses. Loans such as mortgages, auto financing, and business credit lines tied to the base rate will see immediate changes in monthly payments. Citigroup, Citibank’s parent company, operates in more than 180 countries, offering personal banking, wealth management, and capital markets services, the outlet notes. Citi has a market capitalization of $177.36 billion,...
NFL running back Saquon Barkley has invested in AI data center startup Crusoe, joining other investors in the company’s $1.4 billion funding round, which values the startup at more than $10 billion, per Business Insider. According to the outlet, Crusoe, which calls itself “the AI Factory Company,” develops clean-energy-powered data centers for artificial intelligence. The company integrates energy sourcing, AI-optimized construction, and proprietary cloud services. Its Crusoe Cloud platform is used by AI startups, including Together AI and Fireworks, to provide computational resources for AI model training and data processing. Investors in the funding round also include Nvidia, Valor Equity Partners, Mubadala Capital, and Founders Fund. Details about Barkley’s individual investment were not disclosed, per Business Insider. The funds will support the expansion of Crusoe’s renewable-energy-powered data centers for large-scale AI operations. Barkley, who plays for the Philadelphia...
Millions of people across the U.S. felt the effects of Amazon Web Services (AWS) going offline. As AFROTECH™ previously reported, the global outage on Monday, Oct. 20, disrupted access to websites, apps, and services across sectors. As recovery continues, new details are emerging about just how integral AWS is to everyday digital life. According to CNN, the outage rippled through nearly every aspect of daily routines. People couldn’t order coffee through mobile apps, teachers couldn’t access lesson plans, and smart home systems like Ring and Blink cameras stopped working. For many, it was more than just an inconvenience. Hospitals also lost key communications tools, and customers at digital banks such as Chime couldn’t access their money. The shutdown underscored how essential AWS has become to digital infrastructure. The platform provides the behind-the-scenes computing power for millions of businesses, offering storage, servers, and data management tools that keep operations...
The U.S. government has been shut down since Oct. 1, as AFROTECH™ previously reported. Two weeks later, both the Republicans and Democrats show little sign of compromise. Senate Votes On Government Shutdown On Oct. 14, the Senate rejected the House-passed stopgap funding bill for an eighth time, a bill that would have funded the federal government through Nov. 21, NBC News reports . Another vote is scheduled for Oct. 15, according to the outlet. Republicans argue that Senate Democrats should approve the short-term funding measure to reopen the government and address policy differences separately, while Democrats insist that any funding bill must include provisions to extend expiring Obamacare subsidies. Republicans have accused Democrats of holding the government “hostage” to their healthcare priorities. On the other hand, Democrats see the debate over healthcare funding as a strategic opportunity to unite their party after the 2024 election and reset the narrative ahead of the 2026...
The Trump administration is reportedly considering selling portions of the federal government’s $1.6 trillion student loan portfolio, The Guardian reports. Senior officials in the Education and Treasury Departments have discussed a potential student loan debt sale, focusing on high-performing loans, and have met with financial industry representatives to gauge interest and feasibility, according to the outlet. About 45 million Americans currently hold federal student loans. Experts warn that transferring loans to private investors could limit oversight, borrower protections, and the government’s ability to cancel or forgive debt. Daniel Zibel, vice president and chief counsel at the National Student Legal Defense Network, described the idea as “complex and unprecedented,” as The Guardian notes. He told the outlet, “The system for student debt is incredibly complicated. For the administration to do this in a way that lives up to the protections that exist in the law for student loan...
Will there be another round of a federal stimulus or state-issued refund? The Austin American-Statesman reports that officials have no confirmed plans for new payments for Texans. The outlet shares that any federal relief would require approval from Congress. Some states have recently issued their own relief payments. As AFROTECH™ previously reported, New York is sending one-time inflation refund checks of up to $400 to more than 8 million residents throughout the state. Meanwhile, in New Jersey, the Treasury Department announced in September that it would send property-tax relief payments to nearly 300,000 residents, including renters, according to the New Jersey Digest. Texas, however, has not launched a similar program, per the Austin American-Statesman. At the federal level, lawmakers have not authorized a fourth round of stimulus payments, and the IRS has not scheduled any new direct deposit checks. President Donald Trump suggested rebate payments funded by revenue from recent...
The IRS has announced several updates that will impact how Americans file their taxes over the next two years. According to CNN, the agency released new details about inflation-based adjustments and changes resulting from the tax law passed in July. These updates will affect federal tax filings for both 2025 and 2026. How much the changes matter will depend on an individual’s income and deductions, but CNN reports that most taxpayers may see “modest relief” as thresholds move higher in response to inflation. Standard Deduction Increases The IRS confirmed that the standard deduction — the amount most taxpayers claim vs. itemized — is rising again. For tax year 2025 (returns filed in 2026), the deduction increases to $15,750 for single filers, compared to the planned $15,000 before the tax law passed; $31,500 instead of $30,000 for married couples filing jointly; and $23,625 for heads of households, up from $22,500. By 2026, those amounts will rise further due to inflation adjustments...
Student-loan forgiveness resumes for millions of borrowers after months on hold. According to Business Insider, the U.S. Department of Education has resumed processing student-loan forgiveness for people enrolled in income-based repayment (IBR) plans. Over the past week, many borrowers began receiving emails from the department confirming they’ve met the required number of payments and now qualify for loan discharge. The messages, which had the subject line “You’re eligible to have your student loan(s) discharged,” said that the department is working with loan servicers to process the relief “over the next several months.” Income-based repayment is designed to make student-loan payments more manageable by tying monthly payments to a borrower’s income and family size. After 20 or 25 years of consistent payments, the remaining balance is eligible for forgiveness. According to Business Insider, as of mid-2025, about 2 million borrowers were enrolled in IBR plans. The Department of...
Many Americans are asking, “Is the government still shut down?” As the standoff enters its sixth day, senators have returned to the Capitol seeking a deal to restore funding and reopen federal operations, CNN reports. Is The Government Still Shut Down? Yes, and the government shutdown, which began on Wednesday, Oct. 1, as AFROTECH™ previously reported, has already disrupted services nationwide. In Dayton, OH, residents encountered closed national parks and museums. According to another CNN report, Howard Patterson, a DHL worker, said he had planned a family visit to the Wright Cycle Company, part of the national park on aviation, but found it locked with a sign reading, “Due to the current lapse in federal government appropriations this site is closed to the public.” The political standoff centers on disagreements between Republicans — who fully control the federal government but lack the 60 votes needed in the Senate — and Democrats, who are demanding extensions of tax credits to...
The U.S. government officially shut down on Oct. 1, 2025, after lawmakers failed to pass a continuing resolution to fund federal operations before the fiscal year deadline. The question many are asking this week is simple: Is the government shut down? The answer is yes — agencies without approved funding have halted or reduced operations, marking the 21st time since the 1977 fiscal year, as ABC News reports. Is The Government Shut Down Right Now? According to the outlet, essential services — such as air traffic control, certain military, the U.S. Postal Service, and border security — continue to function, but many other public-facing offices and programs are closed or delayed. This shutdown began after Congress was unable to reach a deal on funding, as AFROTECH™ previously reported. Republicans proposed a short-term measure to keep the government running for a few more weeks, while Democrats sought additional provisions, including extensions for health care benefits like the...
Millions of federal student-loan borrowers are stuck in limbo as changes to repayment and forgiveness programs under President Donald Trump’s administration face delays. Advocates and lawmakers warn that if the Department of Education does not speed up its processing, borrowers could soon be hit with unexpected tax bills on debt relief. According to Business Insider, the Department of Education reported that as of July 31, more than 1.3 million income-driven repayment (IDR) applications were pending, along with 72,730 requests for Public Service Loan Forgiveness (PSLF). These backlogs stem from ongoing litigation and policy shifts tied to the administration’s overhaul of student-loan repayment. The delays come at a critical time. A temporary provision in the 2021 American Rescue Plan made student-loan forgiveness tax-free, but that protection expires on Jan. 1, 2026. If borrowers’ forgiveness applications are not processed by then, the amounts forgiven could be taxed as income,...
New Yorkers are starting to see relief arrive in their mailboxes. As of Friday, Sept. 26, 2025, the state is issuing inflation refund checks worth up to $400 to households across the state, according to CBS News. As AFROTECH™ previously reported, the New York State Department of Taxation and Finance confirmed that more than 8 million households qualify for the one-time payment, which helps residents manage rising living costs. CBS News reports that the state is mailing the checks automatically. Residents do not need to apply or submit additional paperwork. Delivery will continue through October and November, though the timing may vary depending on where you live. Governor Kathy Hochul underscored the purpose of the program during a press conference, describing it as a way to ease the daily struggles many families face. “You work hard and, you know, the bills keep piling up, and you just look at them and say ‘when will it ever stop?’… It’s utility bills, your grocery bills, the...
The U.S. Federal Trade Commission (FTC) is taking legal action against Live Nation Entertainment Inc. and its Ticketmaster subsidiary with a lawsuit over ticket resale practices. As NPR reports, the complaint, filed in federal court in California, alleges that Ticketmaster allowed automated ticket bots and large-scale resale operations to thrive by failing to enforce its own purchase limits, enabling resellers to acquire large quantities of tickets for popular events. “The company routinely chooses to turn a blind eye to broker circumvention of ticket limits,” the FTC said in its complaint. Ticketmaster’s “unlawful conduct and tacit coordination with brokers injures fans, who have paid far more than the advertised ticket price for both box office and resale tickets, and who are forced to pay inflated resale prices for high-demand tickets,” the complaint adds. The FTC alleges that Ticketmaster profits from these resales , a practice sometimes called “triple dipping,” by collecting...
American Express (Amex) is giving its Consumer Platinum and Business Platinum cards a major refresh. The update adds new credits, expanded perks, and a sleek mirror card design, according to a company news release, to provide more value for lifestyle, travel, dining, and business expenses. Expanded Consumer Benefits Per the release, with the Amex Platinum refresh, Consumer Platinum cardholders can now access over $3,500 in annual lifestyle benefits. Updates include: $600 Hotel Credit: Up to $300 semi-annually for Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel. $400 Resy Credit: Up to $100 in statement credits each quarter for eligible purchases at more than 10,000 U.S. Resy restaurants. $300 Digital Entertainment Credit: Up to $25 in statement credits each month (up to $300 per year) for subscriptions, which now include Paramount+, YouTube Premium, and YouTube TV. $300 lululemon Credit: Up to $75 per quarter for eligible purchases at lululemon stores or...
