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Dr. Heidi Overton, a top White House aide, has been picked to lead the Food and Drug Administration, President Donald Trump announced Wednesday. Overton is a medical doctor and deputy director of the White House Domestic Policy Council who has worked on several of Trump’s second-term health initiatives. She has become a trusted administration figure and…
Key insight: The Trump administration’s refusal to release funds appropriated by Congress for community development financial institutions is actively damaging programs that serve low-income Americans. What’s at stake: Financially challenged populations are turning to high-cost solutions including earned wage access loans, auto title loans, high-cost check-cashing services and buy now/pay later loans. This exacerbates the…
Mortgage rates are a smidge lower today thanks to yesterday’s announcement that the Treasury Department is going to increase purchases of long-term bonds. Mortgage interest rates are pegged to the 10-year Treasury note, so good news for the bond market is good news for mortgage rates. The average interest rate on a 30-year, fixed-rate mortgage…
Home Technology HSBC, Standard Chartered Test Interbank Tokenized Deposits On SWIFT Banks clear major milestone toward real-time, cross-border tokenized deposits. Tokenized deposits are a step closer to broader institutional use as HSBC Holdings PLC and Standard Chartered PLC completed the first bank-to-bank transaction via the banking messaging consortium SWIFT’s digital blockchain-backed ledger, the banks reported…
Mastercard acquired a majority stake in the UK’s Vocalink nearly a decade ago to expand beyond its card-centric model. Now, the payments giant may be preparing to reverse course. Vocalink provides the technology that supports nearly all UK payroll and government benefit payments, as well as more than 70% household bill payments. While the acquisition…
The S&P 500 Index ($SPX) (SPY) closed up by +0.21% on Wednesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.22%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.22%. E-mini S&P futures (ESU26) rose +0.20%, and September E-mini Nasdaq futures (NQU26) fell -0.21%. Stock indices settled mixed on Wednesday, with the Nasdaq 100 falling…
Opinions expressed by Entrepreneur contributors are their own. Key Takeaways Forming an LLC simplifies the legal and administrative starting point, but it does not solve the operational challenges of running a business. Sustainable success depends on managing customers, costs, people, systems, and cash flow—not simply completing the formation process. The real value of easier LLC…
Strategists Jay Barry and Jason Hunter are predicting fallout from the Treasury’s move that they see as not even needed.
Using a debit card as a card-on-file payment accounted for 25% of debit transactions made in the second quarter, says the SoFi Tech Solutions Debit Spend Index. That’s up from 24% in the first quarter, and marks the payment method’s rise past card-not-present debit transactions as the most popular. SoFi Tech Solutions is a subsidiary…
Walmart on Thursday posted quarterly sales that beat Wall Street estimates and raised its outlook for the year, as it saw another strong quarter of e-commerce growth and benefited from tariff refunds. “Our business is strong,” CFO John David Rainey told CNBC. “We feel really good about the progress we’re making.” The retailer said revenue…