Personal Finance

A coalition of 22 states and the District of Columbia filed an amicus brief on May 9, 2025, in the D.C. Circuit asking the court to uphold a preliminary injunction blocking operational dismantling of the Consumer Financial Protection Bureau. The states argue that disabling the CFPB would disrupt a complaint system handling roughly 350,000 monthly submissions, impair joint enforcement investigations, and shift supervisory burdens for nonbank lenders and debt collectors onto state agencies. The underlying litigation remains pending, with a preliminary injunction still in effect and RIF-related proceedings stayed pending confirmation of a new CFPB director.

The Senate Banking Committee voted 13–11 along party lines on September 17, 2026, to send Brian Johnson's CFPB director nomination to the full Senate, where it now sits on the Executive Calendar without a scheduled floor vote. If the Senate's October 5 through November 6 recess exceeds 30 days and no unanimous consent waiver is granted, the nomination could be returned to the President under standard Senate rules. Johnson, a former CFPB deputy director, has stated three priorities — fraud protection, statutory accountability, and operational modernization — but no sourced plan detailing which current CFPB rules or enforcement practices he would change has been found.

S&P Dow Jones Indices announced on September 4 that Bloom Energy, Illumina, and Everpure will join the S&P 500 effective September 21, replacing Molson Coors Beverage, The Trade Desk, and Builders FirstSource, with the stated rationale being market-capitalization alignment across indices. For investors holding S&P 500 index funds in a 401(k) or IRA, the adjustment happens inside the fund itself rather than requiring any action from the account holder. Execution timing, transaction costs, and tax treatment vary by fund, so the relevant prospectus is the authoritative source for specifics.

The IRS issued IR-2026-112 on September 18, 2026, stating that 'Tribal Tax Credits,' 'Native American Tax Credits,' and 'Sovereign Tribal Tax Credits' do not exist under federal law, and that taxpayers who claim them risk civil penalties, back taxes with interest, and potential criminal charges. Promoters typically sell these credits as purchases from tribal-affiliated entities, promising refunds or reduced tax liability. The IRS has not established a special amended-return process for prior claimants, but directs anyone aware of promoters to report them via Form 14242.

Freddie Mac's September 17 Primary Mortgage Market Survey puts the 30-year fixed-rate mortgage at 6.95%, up from 6.76% the prior week and 69 basis points above the year-earlier rate of 6.26%. That 19-basis-point weekly jump translates to roughly $51 more per month on a $400,000 loan and $44 more on a loan sized to the August 2026 median existing-home price with 20% down. The 15-year fixed rate also rose, moving from 6.09% to 6.26% week over week.

The Maryland Attorney General's Consumer Protection Division reached a January 14, 2026, settlement requiring KVS Title and six affiliated joint ventures to pay $850,000 to Maryland homebuyers who were allegedly steered toward title insurance through illegal referral payments to real-estate agents and brokers. Eligible consumers — those who paid one of the six named joint ventures for title insurance on a Maryland residential purchase — will receive pro-rata checks automatically, without filing a claim, within 90 days of the settlement's effective date. The case is a practical reminder that homebuyers are not required to use a title company recommended by their agent and can compare unregulated settlement-service fees across multiple providers.