Congress might take away 401(k) for wrong reason

More than 62 million Americans - about a third of the nation's adult population - have put money into 401 retirement plans. Now Republicans in Congress are seriously debating changing the program, dramatically reducing the amount of money Americans can contribute tax-free to their 401 account from $18,000 a year now to just $2,400 a year.

RBS pays out A 33.4 million to settle US fraud claims linked to mortgage-backed securities

The US Department of Justice said RBS would pay a $35 million penalty , and compensation of around $9 million The Royal Bank of Scotland has paid out $44 million to settle a US criminal investigation that accused its traders of lying to customers over bond prices. The Royal Bank of Scotland has paid out $44 million to settle a US criminal investigation that accused its traders of lying to customers over bond prices.

Republicans are starting to notice another big problem with…

The issue comes in defining what is - and what is not - a business, for the purposes of a major new business tax break. I've written before about problems with the provision of the Republican tax framework that President Donald Trump touts as good for small businesses.

In poll, people say Trump tax plan benefits rich, companies

Most Americans say President Donald Trump's tax plan would benefit the wealthy and corporations, and less than half believe his message that "massive tax cuts" would help middle-class workers, according to an Associated Press-NORC poll. The survey could serve as a warning sign for Trump as he pushes Republicans to support his proposal.

Trump says popular retirement program will be unscathed in tax plan

President Donald Trump on Monday dismissed the possibility of curbing a popular tax-deferred U.S. retirement savings program to help pay for his sweeping tax cuts, and voiced doubts about adding another top bracket targeting the wealthiest Americans. U.S. President Donald Trump welcomes United Nations Secretary General Antonio Guterres for a meeting in the Oval Office at the White House in Washington, U.S., October 20, 2017.

Black Knight’s First Look at September 2017 Mortgage Data: Hurricanes …

Black Knight's First Look at September 2017 Mortgage Data: Hurricanes Irma and Harvey Drive Surge in Past-Due Mortgages Nationally, the number of non-current mortgages jumped by 214,000 , driven primarily by fallout from Hurricanes Harvey and Irma FEMA-declared hurricane disaster areas accounted for the bulk of the increases; non-current inventory rose by 84,000 in Irma disaster areas and 52,000 in those related to Harvey Prior to the hurricanes, Texas and Florida ranked 20th and 22nd among states by non-current mortgage rates; after the storms, they now rank 3rd and 5th respectively Primarily as a result of hurricane impact, September saw the first annual rise in mortgage delinquencies since July 2010 Monthly foreclosure starts were at their lowest in more than 17 years, with starts down as much as 90 percent in areas covered by post-hurricane foreclosure action moratoria JACKSONVILLE, ... (more)

Ex-congressman: The truth can’t get me fired anymore

Retiring Sen. Bob Corker's recent comments about the White House -- that it's an adult day care center and that President Donald Trump's temperament could set us "on the path to World War III" -- reveal a basic truth about what happens to you when you leave Congress: You get to tell the truth. Many of us who've left elected life feel a sense of liberation, as if our tongues are no longer strapped to the right or left sides of our mouths.

Equifax finds code serving ‘malicious content’ on its website

Equifax Inc. took part of its website offline Thursday after code on the site redirected users to a malicious URL urging them to download malware. Also Thursday, a top Republican congressman introduced a bill that would stop credit reporting companies such as Equifax from using Social Security numbers to verify Americans' identities.

Trump taking his tax overhaul pitch to Pennsylvania capital

President Donald Trump is looking to promote his tax plan as a boon for truckers as his cross-country tour takes him to Pennsylvania for his latest stop. The White House expected that about 1,000 people, including many truckers, would attend Trump's speech late Wednesday afternoon speech in Harrisburg against a backdrop of big rigs at an airplane hangar.

Indiana lawmaker asks Congress to eliminate tax credits for undocumented workers

Rep. Luke Messer spoke on the floor of the U.S. House of Representatives last week, asking House colleagues to support House Resolution 2817 . The legislation would allow only taxpayers with Social Security numbers to claim the Child Tax Credit, which provides a federal tax credit of $1,000 per child for low-income families.