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Stephen Colbert with the former Federal Reserve chair Ben Bernanke.

The Fed just increased interest rates — here’s what the hike means for your wallet

The Federal Reserve's June interest-rate hike means banks are increasing their prime lending rate. In turn, this means interest rates for things like credit cards and loans from these banks will go up.
Stephen Colbert with the former Federal Reserve chair Ben Bernanke.

The Fed just hiked interest rates — here’s how the move will hit your wallet

The Federal Reserve hiked interest rates on Wednesday, which means bank's prime lending rates for things like credit card also went up.
Activists march towards the Chinese consulate for a protest in Manila on February 10, 2018, against Beijing's claims in the South China Sea.

China’s debt-trap diplomacy reaches the Philippines, which is likely to accept Chinese loans 1,100% more expensive than other options

The Philippines' chief economist said his country needs "more friends," as relations with China finally warm.

Profit warning, CEO gone, shares in freefall: Subprime lender Provident Financial is in crisis

Debt collection rates plummeted from 90% in 2016 to 57% after the company changed from using self-employed agents to full-time "customer experience managers."

81% of Brits who are heavily in debt are so worried they can’t sleep

Charity Christians Against Poverty uncovered the extent of poverty in survey of indebted clients.

Trump just said small businesses were ‘unable to borrow from banks’ — but small-business owners disagree

According to the NFIB's survey of small-business owners, access to credit is not a major concern right now.

Former baseball star Curt Schilling just settled a lawsuit over his failed video game studio for $2.5 million

Former Boston Red Sox pitcher Curt Schilling is settling a lawsuit for $2.5 million over his failed Rhode Island video game studio.

Macy’s decision to close a bunch of stores could spell trouble for billions of dollars of loans

Macy's store closures could translate to billions of losses in commercial mortgage-backed loans, according to a report by Morningstar Credit Ratings Wednesday.

There’s one reason a big chunk of Americans have ‘negative wealth’

15% of Americans owe more in debt than everything they owe combined, mostly because of student loan debt — and it's contributing to wealth inequality.

America’s biggest bank just proved the economy has plenty of fuel

Americans are taking out more loans, and that's great news.