Banks across the country having been raising interest rates on credit cards ahead of new federal regulations that go into affect in February. Fifty percent of Americans have had their credit card interest rate increased in the past six months, according to a Rasmussen report.
Earlier this month, the Federal Reserve announced that starting July 1, banks cannot charge new customers overdraft fees unless a customer gives their consent. Currently, many customers have to opt out of overdraft fee programs or are hit with hefty fines when they have insufficient funds in their accounts.
Cuts to state financial aid programs for higher education in Massachusetts and neighboring states have even had an impact on private colleges and their students.
Earlier this year, President Barack Obama included $80 billion in his federal stimulus package for greater energy efficiency and cleaner technologies. Currently, Congress is halfway toward passing a bill to cap greenhouse gas emissions. Much like what is taking place in the political sphere, green initiatives are now in vogue in the fashion industry.