Be Well: Keeping an Eye on Your Own Finances Amid Bank Collapses
With Americans watching multiple banks collapse this year, there are growing concerns about their own accounts and whether or not they can trust financial institutions. Marty Cantor, CPA and economic development consultant, joined Cheddar News to break down why some banks are struggling and what certain income earners should considering doing with their own finances. "If you have less than $250,000 in your own name in any bank, or $500,000, if you have joint tendency, you're going to be ok because the FDIC will protect it. The credit unions have a national association of credit unions that provide the same coverage. But if you're over $250,000, an individual depositor, you ought to take a hard look and maybe move some money to another bank," he said.
Peloton is recalling more than 2 million exercise bikes over a safety concern with its bike seat post, and the Consumer Product Safety Commission said it's received some injury reports.
Peloton is recalling more than 2 million of its exercise bikes because the bike’s seat post assembly can break during use, posing fall and injury hazards.
Cheddar News reporter Ashley Mastronardi tracks the rise of the "mom-fluencer" or working mothers who have left their jobs to become full-time content creators. While not a new phenomenon, experts say the trend has gained momentum since the start of the pandemic.
Volkswagen's annual shareholder meeting was briefly disrupted Wednesday by protests over the company's factory in China's Xinjiang province, with a shouting, topless activist interrupting the speech by CEO Oliver Blume before she was hustled away by security personnel.
The number of Americans filing for jobless claims last week rose to its highest level in a year-and-a-half, though the labor market remains healthy by historical standards.
The process to purchase a home nowadays can be a daunting one, especially with inflation and higher interest rates in tow. Danielle Hale, chief economist at Realtor.com, joined Cheddar News to provide some tips for those looking to purchase a residence in a volatile environment.
