Still missing your tax refund? You’ll soon receive 5% interest

Bill Oxford | E+ | Getty Images If you’re still waiting for a tax refund, there’s a silver lining: it may be accruing interest, and the rate jumps to 5% from 4% on July 1, according to the agency’s latest quarterly adjustment. Typically, the IRS has 45 days after the filing deadline to process returns … Read more

Here’s what the Fed’s highest rate hike in 28 years means for you

The Federal Reserve raised its target federal funds rate by three-quarters of a point, the largest increase in nearly three decades, at the end of its two-day meeting Wednesday in an effort to quell runaway inflation. “The motivation for all of this is that prices are going up,” said Chester Spatt, a professor of finance … Read more

What Are Peer-To-Peer (P2P) Payments?

If you’ve ever needed to pay someone back for a coffee or for splitting a meal, you might be familiar with peer-to-peer (P2P) payment services. P2P payments are transactions between two parties with separate bank accounts. A P2P service mediates these transactions by allowing consumers to send money to another person’s bank account through a … Read more

Efma and Accenture Reveal the Winners of Innovation in Insurance Awards 2022

PARIS–(BUSINESS WIRE)–Efma, an association of more than 2,550 retail financial services companies in 133 countries, and Accenture (NYSE: ACN) today announced the winners of the seventh annual Innovation in Insurance Awards during a virtual ceremony. The global program, which recognizes the best new innovative ideas and projects in insurance, attracted 398 entries from 251 institutions … Read more

Retail sales in May slip 0.3% amid surging inflation

NEW YORK (AP) — Americans cut their spending unexpectedly in May compared with a month before, underscoring how surging inflation on daily necessities like gas is causing them to be more about buying discretionary items. US retail sales fell 0.3% last month, down from a revised 0.7% increase in April, according to a government report … Read more