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Abstract Middle-class Americans maintain a structurally unequal relationship with the country’s largest banks. This asymmetry stems from persistent financial literacy gaps, the complexity of modern banking products, behavioral design that nudges consumers into costlier outcomes, and the scale advantages enjoyed by megabanks. Although regulators intervene episodically—most visibly in cases like Wells Fargo’s fake accounts scandal […]
Introduction Middle-class voters are the backbone of the American electorate. Their votes decide elections, and their voices shape national policy. In the 2020 presidential election, for example, middle-class suburban voters played a critical role in swinging key battleground states, underscoring their influence on electoral outcomes. Yet politicians often speak about the middle class in vague, […]
The lingering shadows of the Gilded Age stretch into the present, casting a long silhouette over America’s economic landscape. Families like the Waltons, the Mars clan, and the Cargill-MacMillans stand as pillars of enduring wealth, their fortunes built over decades and, in some cases, centuries. These dynasties have accumulated vast resources and mastered the art […]
If you’ve been waiting for a sign to make big moves with your finances, this is it. The Federal Reserve just made its first interest rate cut since 2020, slashing the federal funds rate by a full half percentage point. This is no small step—it’s a loud and clear signal that the era of “cheap […]
These are Services that Middle-Class Americans Won’t Be Able to Afford by 2030 Due to Inflation and Price Gouging Taking your kids to a sporting event used to be an affordable weekend pastime for families. Seeing your favorite band whenever they were in town didn’t break the bank. But those days are quickly fading. Now, […]
Accounting: The process of recording and reporting financial transactions. Accounts payable: Money owed by a business to its suppliers or creditors. Accounts receivable: Money owed to a business by its customers for goods or services provided. Accrual accounting: A method...
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Credit reports and scores are critical components of an individual’s financial health and play a significant role in determining their ability to access loans, credit cards, and other financial products. Consumers with poor credit or a FICO score of between...
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With the rising foreclosures, car repossessions, and credit card defaults, numerous American consumers are getting debt collection calls. Debtors need to learn about the debt collection industry and how to deal with debt collectors. Debt collection refers to the process...
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Auto loans are a popular way for individuals to finance the purchase of a new or used vehicle. These loans can be secured or unsecured, meaning they can be based on the borrower’s creditworthiness or the purchased vehicle’s value. Secured...
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For many Americans, owning a car was long a pillar of middle-class stability. That’s shifting. Monthly car payments have now soared: the average new-vehicle payment is...
By Article Posted by Staff Contributor
Mortgage rates barely slipped—call it three-quarters of a point from recent highs—and yet homeowners rushed to cash-out refis like it’s 2005 with granite countertops on the...
By FMC Editorial Team
A handful of states—mostly in the Northeast and Midwest—are posting the strongest house-price gains right now. But before you treat rising equity like found money, remember...
By FMC Editorial Team
If you’ve ever paid a $35 overdraft fee or borrowed $500 from a payday lender, you’ve felt the reach of America’s quietest predator — the financial...
By Article Posted by Staff Contributor
A bank account should keep your money safe — not nickel-and-dime you every month. If you’ve ever been hit with a $35 overdraft fee or had...
By Article Posted by Staff Contributor
If your bank has been quietly eating away at your balance with “maintenance,” “paper statement,” or “non-activity” fees, it’s time to make a move. Too...
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The fight for fairness in finance isn’t fought in marble halls — it’s fought every time a family gets hit with a $35 overdraft fee. If...
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If you think American banks charge too many fees, you’re right — and you’re not imagining it. Compared to much of the developed world, the United...
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The illusion (why “free points” aren’t free) Rewards feel like free money. In reality, red tape, devaluations, and “earn-more-to-save-more” nudges push you to overspend for perks...
By Article Posted by Staff Contributor
The give-and-take (how premium cards actually work) Premium cards are a trade: issuers “give” perks (lounges, credits, partners), and you “give back” via the annual fee...
By Article Posted by Staff Contributor
For many Americans, owning a car was long a pillar of middle-class stability. That’s shifting....
Mortgage rates barely slipped—call it three-quarters of a point from recent highs—and yet homeowners rushed...
A handful of states—mostly in the Northeast and Midwest—are posting the strongest house-price gains right...