The Credit Restoration Institute wishes you and your loved ones a special Father’s Day! Cheers to those important men in your lives.
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President Joe Biden has recently signed into law the bill that will suspend the nation’s debt limit through January 1, 2025, to observe a never-before US default. Pausing the debt limit takes the threat of default off the table until after next year’s presidential election. In addition to addressing the debt limit, the law focuses on non-defense spending, work requirements for food stamp recipients and the use of covid-19 relief funds, among other policy provisions.
“I just signed into law a bipartisan budget agreement that prevents a first-ever default while reducing the deficit, safeguarding Social Security, Medicare, and Medicaid, and fulfilling our scared obligation to our veterans,” Biden said in a tweet, which was accompanied by a short video of him signing the bill.
Click below for more information on the new bill.
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The Consumer Financial Protection Bureau (CFPB) advises against storing money in nonbank peer-to-peer payment apps like Venmo, Paypal, and CashApp due to the lack of automatic government insurance. As the popularity of payment apps grows, with over three-quarters of U.S. adults using them, CFPB director Rohit Chopra emphasizes that these services are being used as alternatives to traditional bank accounts but do not offer the same level of fund protection and safety measures.
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