Juniper Research has predicted that more than 3.6 billion worldwide users will be banking on a mobile device by 2024. That’s a lot of people and a lot of targets for would-be criminals and professional hackers. You can keep your mobile device safe by understanding how hackers access your phone as well as security practices to keep your information safe. How Is Your Phone Accessed? The first thing you need to know is how hackers and criminals operate to get your banking information....

Biden nominated Powell on Monday to stay at the helm of the central bank for another four years and chose Fed Governor Lael Brainard to serve a four-year term as vice chair, replacing Richard Clarida, whose term expires Jan. 31. Powell’s current term expires in February. The Senate must approve both nominations. Leading up to the announcement, most economists expected Powell to be renominated to the top job, but there was some speculation Brainard would get it....

In recent years, Black-owned banks have enjoyed rising support from the general public, major corporations, and even other banks. For example, since 2020, Bank of America, Wells Fargo, and JP Morgan Chase have all publicly committed millions of dollars in financial support and investment to Black-owned financial institutions, as have Netflix, Paypal, and Microsoft. Here’s a closer look at the history of Black-owned financial institutions, the challenges they’ve faced, and the unique benefits they offer their communities....

What a Board of Directors Does The board of directors of a corporation oversees the major policy decisions, hires corporate executives, and has specific legal duties regarding the corporation. Board members also may have some liability for the corporate-level decisions they make Because corporate board members are putting their expertise to work for your business and are making decisions at a high level, it seems only reasonable to compensate them for their time....

Here are a few typical expenses related to employees that you might have missed as business tax deductions. Employee Uniforms Your business may deduct costs for uniforms for yourself and employees if these are reasonable and necessary costs of doing business. For example, if you operate a restaurant, it is reasonable that employees wear a uniform while on duty. Some other examples of deductible uniforms and clothing are hard hats, theatrical dress, and other safety gear....

It’s your identifier, and it separates you from your competitors. But you must take some steps first to make sure you can legitimately use the name and to prevent others from using it. Types of Business Names Rules for claiming and registering a business name vary depending on your business structure. Naming some structures requires far less effort than others. Your easiest option might be to file a “doing business as” (DBA) registration with your state or county clerk if you’re a sole proprietor....

But while posting on social media may feel far removed from the workplace, in some cases, what you share on Facebook could lead to reprimands by your employer—or even having your position terminated. It’s a tangled, complex situation. As an employee, here’s what you need to know about posting on Facebook and other social media platforms. People Have Been Fired for Social Media Posts If you are employed at will, then there are some cases where your employer can fire you because of your social media posts....

On the other hand, BYOD policies can lead to problems. You may not want to lug your laptop back and forth to the office, or you might prefer to keep your personal data separate from your professional work. You also might not own a computer, which leads to questions about whether you will have to pay for one yourself. Read below for more detailed information about BYOD policies, including what employers are (and are not) allowed to ask you to do....

You can withdraw contributions any time, but investment earnings are typically not available without penalty until you turn 59 ½. Still, there are a few ways to access those earnings, and we’ll discuss them in detail here. Only 401(k) Plans Offer Loans You can’t borrow from a Roth IRA. The only qualified retirement plans that offer loans to investors are employer-sponsored plans such as 401(k)s. Of course, with this loan, you’re technically borrowing from yourself, but you are accessing the money in the account without penalty....

The Residency Test Your partner must actually live with you in your home to qualify as your dependent. They can’t maintain their own residence, not even for a week or a month. Their address must be your address throughout all 365 days of the tax year. Temporary absences are okay, however. Your partner might be hospitalized, incarcerated, or serving in the military. Maybe they’ve taken an extended vacation. That’s fine, as long as they intend to return to your home after these events—and they actually do so....

Capital One updated its Savor cards earning rates with a new streaming-service category and higher grocery earning rates on Tuesday, making the dining and entertainment cash-back cards more rewarding for people sticking close to home. The $95-per-year Savor Cash Rewards card now offers 4% back on eligible streaming service purchases (such as Hulu and Netflix), and 3% back on groceries (up from 2%). The no-annual-fee SavorOne Cash Rewards card now offers 3% back on streaming and grocery purchases....

The Gateway card, which replaces the United TravelBank Credit Card as the no-annual-fee credit card option for United Airlines fans, is offering new cardholders 3 United MileagePlus miles per $1 spent on groceries (for the first $1,500 of grocery purchases each month) through Sept. 30, 2021. Neither of the other United-branded credit cards, both of which charge annual fees, offer bonuses on groceries. Cardholders who spend $1,000 within their first three months will also earn 20,000 miles, more than twice as many miles as several competing airlines offer on their most basic credit cards....

That’s the theory—but it often falls flat. While all team members “agree” to support the consensus decision, the decision may not, in fact, be the optimal decision for the team or the business. Advantages of Consensus Decision-Making Group Agrees To Support the Decision Reaching a conclusion that everyone on the team supports is a positive, often effective, team strategy. With 100% agreement, you can move forward with confidence, and you don’t have to worry about another employee working to undermine your efforts....

Why do companies ask applicants to name their price before calling them in for a job interview? It’s a way for employers to ensure that they don’t waste time interviewing candidates who whose expectations don’t fit with the salary range they have established for the position. If you’re uncomfortable discussing money, don’t worry. There are ways to include this information in your cover letter without jeopardizing your chances of getting a job....

A nation creates a current account deficit when it relies on foreigners for the capital to invest and spend. Depending on why the country is running the deficit, it could be a positive sign of growth. It could also be a negative sign that the country is a credit risk. Components According to the Bureau of Economic Analysis, there are four components of the current account. The largest is trade in goods and services....

If you’re in debt and currently behind on your debt payments, then debt settlement may be for you. It’s an alternative to bankruptcy and will let you get rid of a lot of debt with less money than you owe. You can negotiate debt settlement yourself or you can use a company to do it for you. Learn more about debt settlement and if it’s the right choice for you....

The Fair Debt Collection Practices Act (FDCPA), a federal law regulating third-party debt collectors, allows you to request the debt collector to send proof of the debt through a process called debt validation. Why You Should Request Validation Before You Pay You might want to just pay the collection and get it over with, particularly if you know the debt is yours and you need to pay it off to have a loan application approved....

In the week through April 23, an index measuring applications for home purchases decreased about 5%, the fourth decline in the last five weeks, according to data released by the Mortgage Bankers Association (MBA) Wednesday. An index of refinancing activity also shrank slightly, declining 1% in the seventh drop in eight weeks. Meanwhile, the average rate for a 30-year fixed mortgage fell to 3.17% from 3.20% the previous week, the lowest average since mid-February, but higher than the record low of 2....

And while these rules are more financially conservative, they can help prevent things like foreclosure or being house poor, which basically means not be able to do the other things you really enjoy doing because so much of your income is going towards your house payment. Follow these steps to determine how much you can spend on a home. Keep in mind that the 25% rule isn’t a hard-and-fast one....

What Is a Credit Limit? Your credit limit is the maximum amount you can borrow on a line of credit. For example, with a credit card, you can spend as much or as little as you want, up to your credit limit. The same is true for other loans, such as home equity lines of credit: Your credit limit is a pool of money from which you can draw. Once you use it up, you need to pay down your loan balance if you want to spend from that account anymore....