Credit Card Debt is at Record High as Fed Raises Rates Again
About 46% of people are carrying debt from month to month, up from 39% a year ago, according to Bankrate.com, an online financial information site. read more >
About 46% of people are carrying debt from month to month, up from 39% a year ago, according to Bankrate.com, an online financial information site. read more >
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to 6.42% from 6.6% last week. The average rate a year ago was 4.42%. read more >
She comes to Bank OZK from McGuireWoods LLP of Richmond, Virginia, where she was a partner and served as co-chair of the firm’s fiduciary litigation practice. read more >
The Fed chair also underscored that the central bank remains focused on fighting high inflation, which could require additional rate hikes. read more >
Marla Johnson of LeapXL and Courtney Little of ACE Glass are the latest board appointees for the angel investing network. read more >
When two tech-linked U.S. banks failed this month, among the investors who lost millions were public-sector pension funds responsible for ensuring the retirements of teachers, firefighters and other government workers. read more >
It seemed like a good idea at the time: Red-state Democrats facing grim reelection prospects would join forces with Republicans to slash bank regulations — demonstrating a willingness to work with President Donald Trump while bucking many in their party. read more >
Only 10% of U.S. adults say they have high confidence in the nation's banks and other financial institutions, a new poll finds. That's down from the 22% who said they had high confidence in 2020. read more >
The White House is desperate to avoid any perception that average Americans are "bailing out" the two banks in a way similar to the highly unpopular bailouts of the biggest financial firms during the 2008 financial crisis. read more >
Most Fed watchers expect the central bank to announce on Wednesday afternoon a relatively modest quarter-point hike in its benchmark rate. read more >
Yellen, in her prepared remarks, says the government's intervention was necessary to "protect the broader banking system" and more rescue efforts could be necessary. read more >
Brown, who has more than two decades of banking experience, joined FNBC in 2022 as senior vice president. read more >
Companies that piled on debt throughout the pandemic and the economic recovery could be in for a tough road ahead as the bills come due. read more >
The search for causes and culprits — and solutions — is refocusing attention on a 2018 federal law that rolled back tough bank regulations. read more >
Almost 94% of the $175.4 billion deposited in failed Silicon Valley Bank as of Dec. 30 were uninsured. Here’s how the banks with the most deposits in Arkansas compare. read more >
Mangham, who joined the credit union in 2012 as a senior financial analyst, is now responsible for all financial functions including accounting, finance and card services. read more >
The fallout from two major business news stories last week will linger. read more >
The 122-unit apartment complex in west Little Rock was purchased by VA8 Stagecoach LLC. read more >
Minorities can take advantage of several Arkansas programs to help them launch and sustain new businesses. read more >
Nearly half the money — $143 billion — went to holding companies for two major banks that failed over the past week, Silicon Valley Bank and Signature Bank. read more >
