Bank of America cuts overdraft fees

Bank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks.

Families are using the child tax credit to pay off debt, Census Bureau finds

Eligible households have been using the monthly payment to supplement household spending and pay off debt, data shows. But the future of the child tax credit hangs in the balance as the Biden administration struggles to pass the Build Back Better bill, which would extend the benefit through 2022.

Spike in food prices expected to continue into 2022

Consumers are facing sticker shock at the grocery store and it's expected to continue in the new year. In November 2021, prices increased 7% from the previous year, the highest spike since 2008.