Personal Finance and Money Management

With the U.S. unemployment rate currently hovering around 9.5%, there is still debate on whether to extend unemployment benefits once again. Under normal conditions, states would provide up to 26 weeks of unemployment insurance coverage for workers. Due to the recession, federal law had allowed an extension up to 99 weeks, depending on the rate in individual states. The extension expired in June, and Congress has failed to pass an additional extension. This means that those who exhaust the regular state benefits after June will not have the extension. There is controversy over how to fund the extension, and whether or not it is effective in aiding the economic recovery.

The majority of Congress was in favor of the recent bill extending unemployment benefits through November.

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Visa recently conducted a survey that looked at how consumers felt about a new amendment in Wall Street reform that would allow some of the fees associated with processing debit cards to be passed from retailers to consumers.

According to the survey, an overwhelming 83 percent of respondents were opposed to the amendment’s requirement that debit cardholders would likely pay fees for owning and using their debit cards if the government was to establish the prices retailers pay for accepting the cards. Because of the strong opposition, it is likely that the amendment will not make it into the final version of the bill. (Market Watch)

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