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Why America has been so stingy in fighting child poverty
By: Greg Rosalsky | NPR
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WASHINGTON, D.C. (NPR) — It was heralded as a game-changer for America’s social safety net. It dramatically reduced child poverty. But, last month, the enhanced Child Tax Credit — a kind of “Social Security for kids” — expired, and millions of American children sank back into poverty. In March 2021, President Biden and congressional Democrats… Read More
Does the IRS really want to spy on your bank account? The latest tax fight, explained
By: Scott Horsley | NPR
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WASHINGTON, D.C. (NPR) — A new fight is brewing over taxes. The Biden administration wants to require banks to provide the Internal Revenue Service with information about how much money flows in and out of individual accounts each year. It’s part of a plan to catch people who might be cheating on their taxes and… Read More
Audit Prompts W.Va. Treasurer To Seek Greater Agency Oversight
By: Associated Press
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CHARLESTON, W.Va. (AP) — West Virginia Treasurer Riley Moore says his office will propose greater oversight of an agency that an audit says didn’t keep adequate records of a loan program. The state Economic Development Authority’s loan program was intended to boost the state’s economy. A legislative audit released Tuesday says the authority used $25… Read More
CEOs Of Big Banks Face Tough Questioning Over Their Pay
By: Jim Zarroli | NPR
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The House Financial Services Committee is grilling executives from seven banks Wednesday about overdraft fees and executive pay. The hearing comes 10 years after the financial crisis.
As Payments Go Social With Venmo, They’re Changing Personal Relationships
By: Daniella Cheslow | NPR
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More people are using mobile money apps to pay each other without cash. With Venmo, its social network is a key part of the payment process, and it’s changing people’s behavior in unexpected ways.