AGP Executive Report
Last update: 10 minutes agoDebt Pressure: U.S. household debt has reached a record $19.1 trillion, while credit-card balances hit $1.29 trillion, adding to concerns about borrowers’ ability to keep up. AI and Banking: Google’s Gemini can connect to Google Wallet and linked bank accounts to review spending and flag subscriptions; users should weigh the privacy trade-offs before sharing financial data. Mortgage Costs: Mortgage averages fell for a fourth week to 7.11%, but daily rates jumped to 7.5% by Friday, showing how quickly borrowing costs can shift. Shopping Safely: For Black Friday deals, regulators advise using a credit card rather than a debit card online, avoiding hard-to-trace payment methods and checking statements for suspicious charges. Banking Accountability: Macquarie Bank agreed to an $8.8 million payment to about 40,000 savings customers after welcome-rate failures, alongside a $14 million penalty.
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