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The Barclays 6 Month Online CD is paying 5.10% APY, but it may not be for long. This is because CD rates are directly impacted when the Federal Reserve changes rates. Most notably, the well-known online bank Barclays Bank still has a 6-month CD paying 5.10% annual percentage yield (APY) on a 6-month CD, but it may not be for long. How to earn 5.10% APY on a Barclays CDSince Barclays is an online-only bank, you'll have to apply for the Barclays 6 Month Online CD online. She edits and updates articles about banks, checking and savings accounts, CD rates, budgeting, and general saving.

Persons: you'll, Sophia Acevedo, Sophia, Axel Springer, Education Sophia Organizations: Fed, Barclays, Federal Reserve, Barclays Bank, Business, Finance, Bank, Savings, Education, California State University Fullerton, National Association of Hispanic Journalists, Angeles Locations: California

☆ With rates falling, don’t make this ‘big mistake’ with your cash
▼ + stars: | 2024-09-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

"The Fed rate cuts are likely to support inflows to money market funds over the course of the next year," Antoniewicz said. While retail investors may slow their pace of investment, institutional flows tend to ramp up since yields on money market funds lag the funds rate, she noted. That cash can stay in a money market fund, a high yield saving account or certificates of deposit. The bucket for three to five years has about 70% in fixed income, with a small amount of high yield bonds added that have durations under five years. He'll dip more into high yield, as well as private credit, in the six to 10-year fixed income category.

Persons: haven't, Shelly Antoniewicz, Antoniewicz, Chuck Failla, you'll, Bond, Failla, Marcus, Kathy Jones, It's, Jones Organizations: Federal Reserve, Investment Company Institute, Sovereign Financial Group, Schwab Center, Financial Research, Treasury, nab Locations: Wells

While school meal prices vary throughout the country, a survey conducted by the School Nutrition Association, a trade organization, found that lunches typically cost about $2.83 for elementary school students, $3 for middle school students and $3.05 for high school students. The prices mean that the $100 million in transaction fees could have bought another 33 million or so school lunches or over 55 million school breakfasts. “Junk fees on school lunch should not exist. A handful of states have made universal school meals permanent, but most have returned to the pre-pandemic format. “School lunch should always be free, and definitely free of judgment,” Fetterman said at the hearing on Wednesday.

Persons: Tom Vilsack, Sen, Elizabeth Warren, “, ”, Bernie Sanders, ” Warren, NBC News . Sen, John Fetterman, Warren, Sanders, Fetterman, Bob Casey, Debbie Stabenow, Sherrod Brown, Raphael Warnock of, Brian Schatz, —, Marisa Kirk, Epstein, ” Fetterman Organizations: Agriculture Department, NBC News, Consumer Financial Protection Bureau, School Nutrition Association, NBC News ., USDA, NBC, Sens, Supplemental, Assistance, SNAP Locations: Vermont, Pennsylvania, Michigan, Ohio, Raphael Warnock of Georgia, Hawaii, Vilsack

Business vs. personal bank account interest rates at brick-and-mortar banks*Regional differences are possible at Regions Bank. Rates are as of July 22, 2024.Business vs. personal bank account interest rates at online banksPersonal bank accounts at online banks generally pay more than their business banking options. Business vs. personal bank account interest rates at credit unionsCredit unions also tend to offer competitive rates on business and personal bank accounts. Comparing account fees and accessibilityOpening a business bank account involves more documentation than opening a traditional bank account. Business vs. personal banking FAQsWhy might business savings accounts offer different interest rates than personal accounts?

Persons: you'll, Sophia Acevedo, Sophia, Axel Springer, Education Sophia Organizations: U.S . Bank, Business, Regions Bank, American, Consumers Credit Union, Federal Reserve, Finance, Bank, Savings, Education, California State University Fullerton, National Association of Hispanic Journalists, Angeles Locations: Florida, Alabama, U.S, Illinois, Wisconsin, California

Business Insider's personal finance team compared Navy Federal Credit Union personal loans to the best personal loan companies and found it to a standard offering. Navy Federal Credit Union (NFCU) is a credit union that serves the military community and their families. Navy Federal Personal Loan Credit RequirementsNavy Federal doesn't make its minimum credit score to be eligible for a personal loan public — though in general, a higher credit score will secure you a lower rate. Navy Federal Personal Loan AlternativesNavy Federal Personal Loans vs. PenFed Personal LoansWith a range of 8.99% to 18.00%, offers a minimum loan amount than what you can get with PenFed, which as a range of 8.99% to 17.99%. Navy Federal Personal Loan FAQsWhat credit score do I need for an NFCU personal loan?

Persons: Fiona Insider’s, you'll, ber, you've, Foster, I'm, Ryan Wangman, Read, Elias Shaya, Elias, Potters Rebecca Potters, Rebecca Organizations: Navy Federal Credit, Navy Federal Credit Union, Federal Credit Union, Navy Federal, Department of Defense, Navy, Federal, National Guard, Social, Loan, Foster Care, Better, BBB, Chevron, DoD, Finance, Northwestern University, Boston Globe, Business, Banking Savings, McGill University Locations: creditworthiness, Alliant, Chevron, New York City

☆ When interest-rate cuts will hit credit cards, car loans, and mortgages
▼ + stars: | 2024-09-18 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Read previewThe nation's central bank has finally cut interest rates for the first time in over four years. AdvertisementStill, Hamrick said within a day of the Fed's rate cuts, banks will likely adjust their prime lending rates, which will be noticed in credit-card rates "immediately." The Fed rate cuts indirectly affect mortgages, which are generally based on other interest rates that are loosely tied to the Fed funds rate. And when it comes to businesses, rate cuts will have a positive impact on their operations, making it cheaper to take out loans. Are you planning to make any big purchases now that the Fed has cut interest rates?

Persons: —, Mark Hamrick, Erica Groshen, Michele Raneri, Raneri, Hamrick, Elizabeth Renter, Renter Organizations: Service, Federal, Market Committee, Democratic, Fed, Business, Cornell University, Bureau of Labor Statistics, Consumer Financial, TransUnion, asheffey

The process of building credit is often described as a catch-22, because you already need credit to get approved for credit products like a credit card. Fizz Credit Builder Debit Card OverviewFizz is a credit-building debit card that launched in January 2023. User Reviews and RatingsCustomer reviews of Fizz Credit Builder Debit Card are mostly positive. The Fizz Credit Builder Debit Card debit card operates on the Mastercard's network. How to Get a Fizz CardTo get the Fizz Credit Builder Debit Card , you need to download the Fizz app from the Apple app store or the Google Play store.

Persons: Read, —, Fizz's Organizations: Patriot Bank, Google, Apple, Mastercard, Social Locations: Chevron

☆ Fed meeting live updates: Fed set to cut rates — but market reaction may depend on size of move
▼ + stars: | 2024-09-18 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

The Federal Reserve is expected to make its first cut to interest rates on Wednesday after more than two years of tight monetary policy. That is up from 4.29% during the week of March 11, 2022, just prior to the Fed kicking off its first hike. Home equity loans have also become more expensive, with rates rising to 8.49% as of last week, compared to 5.96% back in March 2022, according to Bankrate. The Fed's tight policy has provided a silver lining to savers, however. The annual percentage yield on a five-year certificate of deposit has jumped to 2.87%, up from 0.5% in March 2022, according to Haver.

Persons: Bankrate, Haver, — Darla Mercado, Nick Wells Organizations: Federal, Mortgage News, Fed

☆ How to make the Fed rate cut work for you
▼ + stars: | 2024-09-18 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

In its August survey of car shoppers, a majority (64%) said a Fed rate cut likely would affect the timing of their purchase. But here’s the thing: Car loan rates are pretty high — the average is 7.1% for new cars and 11.3% for used cars, according to Edmunds. If you do buy a home this year and are considering buying down points to reduce your mortgage rate, crunch some numbers first, Diodato advised. That’s because you will pay thousands of dollars to buy down your mortgage rate now, and then thousands more in fees to refinance. What to do if you’re not near retirement: Reconsider how much money you’re keeping in cash or cash-equivalent investments.

Persons: Jerome Powell, Powell, “, ”, Greg McBride, McBride, Chris Diodato, Jessica Caldwell, ” McBride, Caldwell, We’re, Diodato, you’ll, won’t, Kathy Jones, Jones Organizations: CNN, Federal Reserve, Bankrate.com, Fed, Treasury, FDIC, Schwab Center, Financial Research, AAA, Bond Locations: Edmunds, Schwab.com

☆ India's central bank chief plays down fears of a deposit crunch
▼ + stars: | 2024-09-17 | by ( Matt Clinch | ) www.cnbc.com time to read: +3 min

Speaking to CNBC in an exclusive interview, Reserve Bank of India (RBI) Governor Shaktikanta Das discussed the issue of slowing growth in bank deposits underperforming an expansion in loans. "So there is a gap of 350 to 400 basis points," he said, referencing the difference between credit and deposit growth. Annual figures from August put loan growth at 13.6% with deposit growth at 10.8%, according to Reuters. When lending outpaces deposits, net interest margins — or the difference between what a bank earns on loans and pays out for deposits — take a hit. India's GDP slowed to 6.7% in the second quarter compared to last year's 8.2%, piling pressure on the central bank to reverse a recent hiking cycle.

Persons: Shaktikanta Das, Das, Ashish Gupta, CNBC's Organizations: CNBC, Reserve Bank of India, Reuters, Mutual Fund, Monetary, MPC Locations: India

☆ FDIC unveils rule forcing banks to keep fintech customer data in aftermath of Synapse debacle
▼ + stars: | 2024-09-17 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

The Federal Deposit Insurance Corporation on Tuesday proposed a new rule forcing banks to keep detailed records for customers of fintech apps after the failure of tech firm Synapse resulted in thousands of Americans being locked out of their accounts. That's what happened in the Synapse collapse, which impacted more than 100,000 users of fintech apps including Yotta and Juno. Customers with funds in these "for benefit of" accounts have been unable to access their money since May. Keeping better records would allow the FDIC to quickly pay depositors in the event of a bank failure by helping to satisfy conditions needed for "pass-through insurance," FDIC officials said Tuesday in a briefing. While FDIC insurance doesn't get paid out in the event the fintech provider fails, like in the Synapse situation, enhanced records would help a bankruptcy court determine who is owed what, the officials added.

Persons: Biden Organizations: Federal Deposit Insurance Corporation, FDIC, Federal Register, Bank, JPMorgan Chase

☆ Gold hovers near record high ahead of Fed rate verdict
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: +2 min

An employee puts gold bullions into a safe deposit box at Degussa shop in SingaporeGold prices hovered near a record high on Tuesday, ahead of the anticipated start of the U.S. interest rate reduction cycle, which could see policymakers deliver an outsized cut. Spot gold was steady at $2,581.68 per ounce as of 0254 GMT. Bullion rose to a record high of $2,589.59 on Monday. Goldman Sachs reiterated its optimistic outlook on gold prices. "We find that ETF holdings backed by physical gold continue to rise gradually as the Fed policy rate comes down," it said in a note on Monday.

Persons: Yeap Jun Rong, there's, Nicholas Frappell, Goldman Sachs Organizations: U.S, U.S . Federal, ABC Refinery, Palladium Locations: Singapore, ., U.S .

☆ CNBC Daily Open: Rate cuts might not benefit tech the most
▼ + stars: | 2024-09-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Record close for DowThe S&P 500 and Dow Jones Industrial Average rose on Monday, with the Dow notching a record close. Next move for the BOJThe Bank of Japan won't be raising interest rates at its September meeting, according to a CNBC survey of 32 analysts. [PRO] "Golden age of fixed income"The U.S. Federal Reserve is poised to cut interest rates this week.

Persons: Shaktikanta Das, Biden, Rick Rieder Organizations: Trade Center, CNBC, Dow, Dow Jones, Nasdaq, Nikkei, U.S ., Midea Group, Hong Kong, Bank of Japan, Bank of India, Intel, U.S . Federal Locations: Manhattan, Jersey City , New Jersey, Asia, Pacific, Hong

☆ Now is your last chance to lock in a guaranteed 5% return before the Fed cuts rates, investing experts say
▼ + stars: | 2024-09-17 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

After months of high interest rates, the economic tides appear to be shifting. Experts largely expect the Federal Reserve to slash interest rates during the central bank's meeting on Wednesday, a reversal of a rate-hiking policy aimed at taming post-pandemic era inflation. For consumers, declining short-term interest rates will come as a relief. Versions of all three vehicles currently offer guaranteed interest rates north of 5%. That means, for certain savers, now may be the last opportunity to lock in a relatively high interest rate on short- to medium-term investments, says Amy Arnott, a portfolio strategist with Morningstar Research Services.

Persons: Amy Arnott Organizations: Federal Reserve, Morningstar Research Services

Savings Accounts and C.D.sWhat’s happening now: The rate reversal is likely to be most disappointing for savers, who have benefited from juicier yields on everything from online savings accounts and certificates of deposit to money market funds. Those are all likely to inch lower, in line with the Fed’s move, but some providers may move faster than others. That usually depends on whether the bank wants to attract new customers by dangling yields that are more attractive than their competitors’ offerings. If you’re considering certificates of deposit, now is probably the time to lock in a decent rate if you haven’t already. Online savings accounts averaged 4.40 percent in August, down from 5.1 percent the same month last year.

Persons: you’ll, Jeff Sommer’s Locations: DepositAccounts.com

☆ The Fed is preparing to cut interest rates. How to revamp your fixed income investments
▼ + stars: | 2024-09-17 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

The Federal Reserve is widely expected to start cutting interest rates Wednesday afternoon. Those yields are expected to start coming down sharply as the Fed begins to ease back on generationally high rates. Adding some duration Duration refers to a bond's price sensitivity to changes in interest rates. A bond yield moves inversely to its price, so that when bond prices rise, yields decline. Though investors in the space may be concerned about prepayment risk, especially as interest rates come down and homeowners look to refinance, Cetera says that worry may already be priced in.

Persons: Kathy Jones, Tony Miano, Jones, Schwab's Jones, Gene Goldman, Goldman, James Shagawat, Shagawat Organizations: Federal Reserve, Treasury, Schwab Center, Financial Research, Wells, Wells Fargo Investment Institute, York Life Investments, Investment Management, Investors Locations: Wells Fargo, AdvicePeriod, Paramus , New Jersey

☆ Here’s what you should know about buying a home ahead of a likely interest rate cut
▼ + stars: | 2024-09-16 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

While the Fed doesn’t directly set mortgage rates, its actions affect borrowing costs throughout the economy. The most apparent effect: An interest rate cut could help ease the upward pressure on mortgage rates, making one piece of the homebuying equation more affordable. Most investors are betting that the Fed will cut its benchmark interest rate by just a quarter-point on Wednesday. Some financial advisers counsel to wait until you can get a mortgage rate that is a full percentage point below the rate you’re already paying, said Fairweather. “If you got a 7.5% mortgage rate, you may already be in the money to refinance,” she said.

Persons: Freddie Mac, ”, Daryl Fairweather, Redfin’s, “, it’s, Fairweather, We’re, Greg McBride, “ It’s, Leo Pareja Organizations: CNN, Federal Reserve, homebuyers, National Association of Realtors, Bankrate, eXp Realty Locations: Wells, ”

☆ This is the 'billion-dollar blind spot' of 401(k)-to-IRA rollovers, Vanguard finds
▼ + stars: | 2024-09-16 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Rollovers from a workplace retirement plan to an IRA are common after reaching certain milestones like changing jobs or retiring. watch nowAbout two-thirds of rollover investors hold cash unintentionally: 68% don't realize how their assets are invested, compared to 35% who prefer a cash-like investment, according to Vanguard. The asset manager surveyed 556 investors who completed a rollover to a Vanguard IRA in 2023 and left those assets in a money market fund through June 2024. "IRA cash is a billion-dollar blind spot," Andy Reed, head of investor behavior research at Vanguard, said in the analysis. 'It always turns into cash'The retirement system itself likely contributes to this blind spot, retirement experts said.

Persons: Sergio Mendoza Hochmann, Andy Reed, Stocks, Philip Chao, Grace Cary, they're, Chao Organizations: Vanguard, Vanguard IRA, Finance, Security Locations: John , Maryland

☆ I bought my dream home, but the difficult process and higher cost sometimes make me wish I'd stuck with renting
▼ + stars: | 2024-09-15 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +7 min

I always knew from the moment I graduated college that I was eventually going to buy something in the city. AdvertisementPlus, because I am in the design world, I felt like this is my time to buy a place and make it my own. I wanted to buy a place that I could live in for a good amount of years and put love into. I knew if I left the kitchen the way it was, I wouldn't be happy going into the kitchen every day. I probably would still continue to rent because renting is a whole lot cheaper than doing what I did.

Persons: —, Chelsey Brown, There's, It's, I'm, I've, it's Organizations: Service, Business Locations: New York City, New York

I grew up working class and learned good work ethic from my parents. The novelty of cap erasers and Airheads from the school store wore off fast, and money didn't have much luster. In our part of Wisconsin, with its German roots and farm families, work ethic is our moral code. What 'good work ethic' means for your financesBecause it's in my DNA, I can't help but see a strong work ethic as a virtue. What I wish I'd learned about money earlierI'll always be grateful for the work ethic I learned from my parents ... and I wish I'd gotten the nuances of money a bit earlier in life.

Persons: —, didn't, I'd, you've, I'm, fritz, it's, I've Organizations: Service, Quicken Locations: Midwest, Wisconsin

☆ My small business fell for a counterfeit check scam. It dented my confidence and made me more cautious.
▼ + stars: | 2024-09-13 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThis as-told-to essay is based on a conversation with Loria Stern, who owns Eat Your Flowers, which fell victim to a counterfeit check scam last month. We were all excited when a last-minute, big order came through — a $7,500 order of 1,000 cupcakes is significant for a small business like mine. Running a business is hard enough alreadyWe're not making a lot of money here — this isn't exactly a business I'm creating generational wealth with at this moment. Courtesy of Loria SternIt's already so hard running a small business, especially a bakery, where the margins are really small.

Persons: —, Loria Stern, It's, We're, it's, Loria Stern It's, there's, I'm Organizations: Service, Business Locations: —

The bottom line: You may like First Internet Bank of Indiana if you are comfortable with an online-only banking experience. Compare First Internet Bank of Indiana products First Internet Bank of Indiana Free Savings AccountFirst Internet Bank of Indiana Free Checking AccountFirst Internet Bank of Indiana CDFirst Internet Bank of Indiana Money Market Account Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. How First Internet Bank of Indiana worksFirst Internet Bank of Indiana is an online bank with no physical branches. First Internet Bank of Indiana trustworthiness and BBB ratingFirst Internet Bank of Indiana does not have any public controversies. How First Internet Bank of Indiana comparesWe've compared First Internet Bank of Indiana to two other online banks: Ally Bank and Discover® Bank (FDIC Insured) .

Persons: It's, We've, Ally, You'll Organizations: First, Bank of Indiana, Bank of Indiana Free Savings, Internet Bank of Indiana, Market, First Internet Bank of Indiana's, Bank of Indiana Free, Internet Bank of Indiana Free Savings, FDIC, Plus Alliance, Network, First Internet Bank of Indiana, Alliance, Apple, Google, Internet Bank, Indiana, Better, Bank of, Ally Bank, Discover ® Bank, Discover Locations: Chevron, Bank of Indiana

☆ Trump had to front $145,000 to secure a rally space in Arizona amid reports he left an unpaid bill at the same venue in 2016
▼ + stars: | 2024-09-13 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Trump's campaign paid over $145,000 to secure a spot at the Tucson Convention Center for a rally. Local media said Trump failed to pay a bill for an event at the same venue in 2016. AdvertisementThe Trump campaign had to pay a deposit of over $145,000 to secure a spot at the Tucson Convention Center for a rally on Thursday. In a statement to Business Insider, the City of Tucson City Manager's Office confirmed that the Trump campaign had paid a deposit for estimated costs of $145,222.70 to use the Linda Ronstadt Music Hall at the venue. This story is available exclusively to Business Insider subscribers.

Persons: Trump, Trump's, Kamala Harris, —, Linda Ronstadt, Donald Trump, Bernie Sanders Organizations: Tucson Convention, Service, Business, Tucson City Manager's Office, City Locations: Tucson, Arizona, City, Tucson City

First Tech Personal Loan AlternativesFirst Tech Personal Loan vs. Navy Federal Credit Union Personal LoanYou can get the smallest loan amount with Navy Federal Credit Union, as the credit union offers loans as small as $250. Navy Federal Credit Union Personal Loan ReviewFirst Tech Personal Loan vs. PenFed Credit Union Personal LoanYou can qualify to join First Tech simply by joining the Financial Fitness Association for $8, though you may also be eligible if you live or work in certain parts of Oregon. PenFed Credit Union Personal Loan ReviewFirst Tech Personal Loan Check rates Compare rates from participating lenders via Fiona. First Tech Credit Union Customer ExperienceIs First Tech Credit Union Trustworthy? First Tech Personal Loan FAQsWhat credit score do I need for a First Tech personal loan?

Persons: Fiona, Insider’s, You'll, PenFed, you've, Trustpilot, you'll Organizations: First Tech Federal Credit Union, Financial, Tech, First Tech, First Technology Federal Credit Union, Tech Federal Credit Union, Google, Apple Stores, Better, nab, Microsoft, Intel, State of, Computer History, Association, Social, . Navy Federal Credit, Navy Federal Credit Union, Navy Federal, Department of Defense, Navy Federal Credit, PenFed, you'll, First Tech Credit, Tech Credit Union, First Tech Credit Union doesn't, Better Business Bureau, First Tech Credit Union, Chevron, History Locations: Oregon, Lane County , Oregon, State of Oregon

The hotly anticipated results are in from a landmark pair of major clinical trials of a long-acting, injectable HIV-prevention drug that only requires dosing every six months. The pharma giant has already secured approval for the injectable drug in treating highly drug-resistant HIV. Given the clear statistical superiority of lenacapavir over Truvada, the trial’s blinded phase will now be ended several months early. When taken as prescribed, Truvada is over 99% effective at preventing HIV; Descovy is comparably effective. This chorus is sure to get louder now that lenacapavir is officially highly effective at protecting gay and bisexual men and trans people as well.

Persons: lenacapavir, ”, Jared Baeten, “, ” Jen Kates, ” Gilead, Gilead, Truvada, ViiV Healthcare’s, Amy Killelea, Jirair Ratevosian, Hansel Tookes, ” Tookes, Dr, Boghuma, “ lenacapavir, Tim Horn Organizations: Gilead Sciences, pharma, NBC, Food and Drug Administration, Disease Control, PrEP, Yale School of Nursing, University of Miami Miller School of Medicine, NBC News, Southern, Affordable, CDC, Emory University Locations: Gilead, United States, ”, U.S, Australia, United Kingdom, Arlington , Virginia, America, South Africa, Thailand, Truvada, Atlanta, Saharan Africa

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