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CFPB Drops Capital One Lawsuit As Trump, Musk Target Federal Watchdog CFPB Drops Capital One Lawsuit As Trump, Musk Target Federal Watchdog
Cfpb Drops Capital One Lawsuit As Trump, Musk Target Federal Watchdog The Consumer Financial Protection Bureau has dropped a lawsuit against Capital One as concerns grow about the federal agency's future. The CFPB will no longer pursue legal action against Capital One, according to a court filing on Thursday, Feb. 27. The case, filed in January, claimed the banking giant misled customers and withheld more than $2 billion in interest payments. The company based in McLean, Virginia, supported the dismissal. "We welcome the CFPB's decision to dismiss this action, which we strongly disputed," a Capital One spokesperson said in a statement to the Daily Voice…

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by Chris Spiker
Business
Recession Fears Rise As Consumer Confidence Sees Steepest Drop Since 2021 Recession Fears Rise As Consumer Confidence Sees Steepest Drop Since 2021
Recession Fears Rise As Consumer Confidence Sees Steepest Drop Since 2021 Consumer confidence took its biggest dive in more than three years, adding to growing concerns over inflation, job security, and the broader economy — as Americans grapple with high prices and uncertain financial conditions. The Conference Board's Consumer Confidence Index fell 7.0 points in February to 98.3, the nonprofit business research group said on Tuesday, Feb, 25. That marks the metric's steepest monthly decline since August 2021. The Expectations Index also dropped 9.3 points to 72.9. That number gauges consumers' outlook on jobs, income, and business conditions. Fo…

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by Chris Spiker
Business
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation unexpectedly accelerated in the first month of 2025, adding political and economic pressure to President Donald Trump's campaign promise of immediate relief to high consumer prices. In January, overall inflation climbed 3.3 percent year-over-year for core items and 0.5 percent monthly, according to data from the Bureau of Labor Statistics released on Wednesday, Feb. 12. That ran slightly ahead of economists' prediction of 3.2 percent inflation, NBC News reported. Core items exclude notably volatile prices for food and energy. The Consumer Price Index (CPI) still inc…

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by Chris Spiker
News
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction The Federal Reserve kept its key interest rate in place, pausing further cuts and ignoring a demand by President Donald Trump to immediately drop rates. After three months of reductions, the Fed decided to keep the key interest rate target at 4.25 to 4.5 percent. The Fed announced the decision on Wednesday, Jan. 29, after its first meeting since President Trump returned to the White House. Chair Jerome Powell said the Fed is monitoring inflation and economic stability under the Trump administration. "We remain committed to supporting maximum employment, bringing inflation sustain…

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by Chris Spiker
Business
Fairfield County Commercial Market Ends Year On 'Generally' Positive Note, Report Says Fairfield County Commercial Market Ends Year On 'Generally' Positive Note, Report Says
Fairfield County Commercial Market Ends Year On 'Generally' Positive Note, Report Says A new report shows that the Fairfield County commercial market ended the year in a good place. Bolstered by the Greenwich office and retail markets, the Fairfield County commercial market completed 2023 on "a generally positive note," according to the Houlihan Lawrence Fairfield Commercial Market report released on Tuesday, Feb. 6. According to the report, Greenwich retail rental rates ended 2023 at the best levels ever seen in late Spring. Greenwich office occupancy and lease rates remained remarkably stable over the second half of 2023.  However, the greater…

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by Kathy Reakes
Real Estate
Home Sales Down, Prices Up Along Fairfield County's Gold Coast Home Sales Down, Prices Up Along Fairfield County's Gold Coast
Home Sales Down, Prices Up Along Fairfield County's Gold Coast Home sales are down and prices are up along Fairfield County's Gold Coast due to a lack of inventory over the past few years. The areas most affected by the challenges included Darien, New Canaan, and Rowayton markets, according to Houlihan Lawrence Real Estate Brokerage. A report released on Tuesday, Jan. 9, said despite the sales decline, median sale prices increased in all three markets by nine percent on average, offering sellers favorable returns. “Amidst the inventory scarcity, we continue to benefit from the diverse offerings of recreation, cultural amenities, and vibrant …

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by Kathy Reakes
Real Estate
Sharp Decline Seen In Fairfield County Luxury Housing Market Sharp Decline Seen In Fairfield County Luxury Housing Market
Sharp Decline Seen In Fairfield County Luxury Housing Market A lack of supply caused the 2022 luxury housing market to sharply decline in Fairfield County compared to 2021, according to a new report.  The decline in sales, which were down by double digits, was fueled by a high demand for a low amount of available residences, according to a report released by the Houlihan Lawrence real estate brokerage on Thursday, Jan. 5.  "At first glance, the logical conclusion is a slowdown in the luxury market. However, the data suggest strong buyer demand in a sharply supply-constrained market," said Houlihan Lawrence Vice President Anthony Cutugno. H…

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by Ben Crnic