Business - Page 5

PayPal Applies to Form Bank that Can Offer Small Business Loans and Savings Accounts

By: Jordan Novet  PayPal said Monday that it has applied for approval to form PayPal Bank, which would be able to offer loans to small businesses.  “Establishing PayPal Bank will strengthen our business and improve our efficiency, enabling us to better support small business growth and economic opportunities across the U.S.,” PayPal CEO Alex Chriss said in a statement.  The U.S. Federal Deposit Insurance Corporation will review an application proposing the establishment of PayPal Bank, along with Utah’s Department of Financial Institutions, PayPal said.  The company, which owns popular payment app Venmo, hopes to also offer interest-bearing savings accounts to

Credit Giants Under Fire Equifax and Experian Sued Over Report Errors and ‘Sham’ Disputes

Written by Lexx Thornton The two largest credit reporting agencies, Equifax and Experian, are facing significant legal action from consumers and federal regulators over allegations that they systemically place inaccurate information on credit reports and then fail to properly investigate and correct those errors when consumers file a dispute.  The core of the issue revolves around alleged violations of the Fair Credit Reporting Act (FCRA), which legally obligates these agencies to ensure maximum possible accuracy and conduct a reasonable investigation into any information disputed by a consumer.  Recent lawsuits and regulatory actions, most notably from the Consumer Financial Protection Bureau

Michigan House Blocks Funding for Flint Water Crisis Programs

by Lexx Thornton The Michigan House has voted to block $8.3 million in funding allocated for Flint water crisis programs.  Republican House Speaker Matt Hall described the funding for the aftermath of the Flint water crisis as part of the waste that House Republicans aimed to cut from slush funds.  “The Flint drinking water emergency is over,” Hall said. “Even Gov. Whitmer has acknowledged that, but they continue to want to fund it and squirrel away money for it. That isn’t happening.”  The cuts affect support services for Flint students, including psychologists, nurses, social workers, and counselors. Additionally, funding for

Alabama Power Freezes Electricity Rates Through 2027 to Help Residents with High Costs

Written By Lexx Thornton Alabama Power has announced it will not increase electricity rates through 2027, aiming to help customers during a time when budgets are tight. The company states that the freeze is intended to provide financial relief to residents as they face increasing living costs.  Many ratepayers, such as Lamar Jaddis in Birmingham, say this news is welcome:  My light bill’s been super high… For them to do that, that’s been great and that’s been a positive thing because we do need that. Financially it’s been kind of hard this year. For them to come out and do

FASFA’s New Earnings Warning to Students

By Lexx Thornton While the FAFSA focuses on aid, the data collected by the Department of Education (DoE) sends a critical signal: students must scrutinize post-graduation earning potential.  Choosing a school where graduates consistently face high debt relative to low earnings is a financial trap.  The DoE emphasizes the debt-to-earnings ratio, which compares a graduate’s average loan burden to their typical income two to four years post-graduation. If median annual earnings are barely higher than the median student loan balance, the return on investment is insufficient, leading to financial instability.  Before accepting an aid package, be your own financial counselor: 

Democrats Move to Block Trumps $1 Coins from Treasury Department Mint

By Anders Hagstrom Democratic senators are introducing legislation that would block the Treasury Department from minting $1 coins with President Donald Trump’s likeness on them.  Sen. Jeff Merkley, D-Ore., and Catherine Cortez Masto, D-Nev., are set to introduce the legislation on Tuesday, according to a report from Punchbowl News. Dubbed the Change Corruption Act, the bill would prohibit the federal government from minting currency that bears “the likeness of a living or sitting president.”  The Treasury has prominently featured Trump coin designs on its website. The coin would be part of a push to commemorate the 250th anniversary of America’s

Employees Charged with Stealing Over $700K in COVID Unemployment Benefits

Written By Lexx Thornton Eleven additional Los Angeles County employees have been charged with felony grand theft for fraudulently claiming unemployment benefits between 2020 and 2023, despite being employed full-time during that time.  A total of 24 Los Angeles County employees allegedly submitted fraudulent unemployment insurance claims to the California Employment Development Department (EDD) between 2020 and 2023, totaling $741,518, according to the Los Angeles County District Attorney’s Office.  These employees falsely claimed to be unemployed and earning zero income, despite still being employed by the county and earning at least $3,000 a month, which made them ineligible for benefits,

New Florida Law Requires Licensed Health Care Facilities, Providers, and Practitioners to Promptly Refund Patient Overpayments

Written By Lexx Thornton Effective January 1, 2026, a new Florida law (CS/CS/SB 1808) requires licensed health care facilities, providers, and practitioners (each, a “Licensed Provider”) to refund any overpayment made by a patient no later than 30 days after the Licensed Provider determines that the patient made an overpayment.   For Licensed Providers who are licensed by AHCA, a violation of the requirement to timely refund a patient’s overpayment is subject to an administrative fine of up to $500 per violation. Under pre-existing law (section 408.813, Florida Statutes), each day of violation constitutes a separate violation and is subject to

$11M Southwest Airlines Fine Waived By DOT

Written By Lexx Thornton The U.S. Department of Transportation announced it will waive the remaining $11 million in fines Southwest Airlines owed as part of a record $140 million penalty over its operational meltdown during holiday travel in 2022.  “Instead of a payment of an $11 million civil penalty to the government, this order provides Southwest with an $11 million credit for significantly improving its on-time performance and completion factor through its $112.4 million investment in its Network Operations Control (NOC),” the DOT said in an updated order this week.  The DOT said waiving the installment will incentivize airlines to

Ohio CASH Bill Could Bring Back Mandatory Cash Payments

By Rachel Wolf  People in Ohio could soon be shopping like it’s 1999 if legislators pass the Currency Access to Spend Here (CASH) bill, which would require businesses and government offices to accept cash for payments up to $500. The bill would require businesses and government entities to provide at least one point-of-sale location that accepts cash. Additionally, it bans them from charging those using cash for a transaction a higher price than those using other payment methods.  “It’s simple, cash is the basis for business in America. Our taxpayers should always have the ability to use cash in their

1 … 3 4 5 6 7 … 44

Covering HBCUs and the African American Community

Facebook Instagram Linkedin

Quick Link

Home
About Us
Sports
Entertainment

Never miss a story!

Error: Contact form not found.

© 2025 HBCU News Corporation – ALL RIGHTS RESERVED.