Why some families give kids credit cards
More parents are getting a head start on establishing their kids' credit ratings. CBS News national consumer correspondent Ash-Har Quraishi reports.
Credit Cards
How parents are helping their young kids build credit scores
A mom of two young children told "CBS Mornings" how she's teaching her kids about financial responsibility while building their credit.
Tips for paying off credit card debt
U.S. credit card debt is hitting near-record highs. Stefanie O'Connell Rodriguez, a financial advice writer, joins CBS MoneyWatch with tips on how to manage your debt. (Sponsored by AT&T Business)
Americans struggling with credit card debt
A report from the Philadelphia Federal Reserve shows a record-high number of Americans are only paying the minimum monthly payment on their credit card bills, peaking at nearly 11% of all accounts in the third quarter of 2024. Ted Rossman, senior industry analyst at Bankrate, joined CBS News to discuss the issue.
1/24: CBS Morning News
Trump to visit disaster areas in North Carolina, Southern California; Record-high number of U.S. credit card users only making minimum monthly payments.
Impact of increase in credit card defaults
New data shows rising default rates on credit card loans. Card lenders wrote off $46 billion in debt in the first nine months of the year, the highest since 2010. CBS News MoneyWatch correspondent Kelly O'Grady explains the alarming data.
Last-minute holiday gift ideas
The days are winding down for you to get those holiday gifts. Jordyn Holman, business reporter for The New York Times, joins CBS News with some options you have in these final few days.
How to educate your kids about finances
Mellody Hobson, the co-CEO and president of Ariel Investments, discusses why it's important to talk with kids about money and how her childhood experiences helped shape her views.
Why DOJ says Visa monopolizes debit cards
The Justice Department sued Visa on Tuesday, accusing the credit card business of reaping big profits by shutting out rival payment processors and passing on costs to consumers. CBS News legal contributor Jessica Levinson joins to unpack the antitrust allegations and what they could mean for the credit giant.
Visa monopoly over debit cards hurts consumers and businesses, feds say
Visa exploits its market dominance to stifle competition, costing consumers and merchants billions in extra fees, feds allege in a lawsuit.
Here's how the Fed's rate cut could impact your credit card balance
The Fed has slashed borrowing costs for the first time in more than four years. Here's how that would impact people with credit card balances.
Looking to save money? Try using cash for these 3 purchases.
With credit card debt reaching a record high, consumers looking to save a few bucks should reacquaint themselves with the virtues of cold, hard cash.
Nearly half of Americans don't know their credit card APRs
Here's how not knowing what your credit card interest rate is can hurt you financially.
New protections for "buy now, pay later" shoppers
The Consumer Financial Protection Bureau announced Wednesday that lenders that offer "buy now, pay later" plans must provide customers with the same protections as those offered to credit card users, including allowing shoppers to demand refunds on returned products or canceled services. Jo Ling Kent has details.
Rules for "buy now, pay later" plans
The Consumer Financial Protection Bureau has announced expanded protections for Americans choosing to use the "buy now, pay later" options to purchase certain goods. CBS News senior business and technology correspondent Jo Ling Kent breaks down the protections.
Judge halts plan to cap credit card late fees
A federal judge in Texas Friday temporarily halted a Biden administration rule that would cap credit card late fees at $8, about a quarter of what they are now. Credit card companies receive about $14 billion in late fee payments per year, according to the Consumer Financial Protection Bureau. Elise Preston has more.
Federal judge blocks White House plan to curb credit card late fees
The banking industry is mounting a last-ditch effort to block a new federal rule that would slash credit card late-payment fees.
Fed expected to leave interest rates alone
The Federal Reserve is set to announce its third interest rate decision of 2024 on Wednesday. CBS News contributor Javier David, managing editor of business and markets at Axios, discusses what to expect.
Biden administration caps credit card late fees at $8
The Biden administration has introduced a rule capping credit card late fees at a maximum of $8, a sharp decrease from the current $32 average. This comes as a new task force is set to address illegal and unfair pricing practices in essential sectors like groceries, prescription drugs, health care and housing. CBS News business analyst Jill Schlesinger offers an in-depth analysis of what these changes mean for consumers.
Biden announces credit card late fee cap of $8
President Biden on Tuesday announced credit card late fees will be capped at $8, down from around $32. Nikki Battiste has the details.
Capital One-Discover merger: What to know
A potential merger between Capital One and Discover Financial Services is sparking antitrust concerns. The two firms are the fourth and sixth largest companies issuing credit cards to American consumers. Lucinda Shen, financial technology reporter for Axios, joins CBS News to discuss what the agreement could mean for consumers and the economy.
How to save hundreds of dollars on your credit card payments
Many consumers are paying up to $500 more in annual interest than necessary, and credit scores have nothing to do with it.
Your Delta SkyMiles American Express card is getting pricier
The cards will cost more but also offer enhanced benefits, including restaurant and rideshare credits.
56 million credit cardholders have been in debt for at least a year
American consumers' combined outstanding credit card balances hit a record $1 trillion in 2023, miring many people in debt.
Shoppers opened their wallets this holiday, defying fears of pullback
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Trump approved attack plans for Iran — but hasn't made final decision to strike
President Trump has approved an attack plan on Iran, but has held off in case Tehran agrees to abandon its nuclear program, an intelligence source and a defense official told CBS News.
Supreme Court upholds Tennessee law restricting gender-affirming care for minors
The Supreme Court ruled that Tennessee's law restricting gender-affirming care for transgender youth does not violate the 14th Amendment.
Tucker Carlson spars with Ted Cruz on Israel-Iran strikes
Sen. Ted Cruz sparred with media personality Tucker Carlson, highlighting a rift among President Trump's allies over whether to join Israel's campaign against Iran.
FDA approves HIV prevention drug taken as twice-yearly injection
Clinical trials showed 99.9% of participants who received the drug, called Yeztugo from company Gilead Sciences, remained HIV negative.
State Dept. has "no announcement" about helping Americans evacuate Israel
The U.S. Embassy in Jerusalem said earlier it was working on dispatching evacuation flights and cruise ships for American citizens who wish to leave Israel.
Break-in reported at home of slain lawmaker Melissa Hortman
The Twin Cities home where Minnesota House Speaker Emerita Melissa Hortman and her husband were fatally shot Saturday was broken into overnight Wednesday, police say.
Los Angeles Lakers to be sold for $10 billion
Dodgers owner Mark Walter will assume a controlling interest of the team; Jeanie Buss will remain in the governor role
Maps show heat wave forecast across the U.S. Here's what to know.
The National Weather Service called the warm and above-average temperatures coming in behind the system "the first significant heat wave this season."
Federal Reserve maintains its benchmark interest rate at June meeting
The Federal Reserve said Wednesday it will maintain the benchmark interest rate at its current range of 4.25% to 4.5%
U.S.
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American students, tour groups waiting to evacuate Israel amid missile strikes
Some students have already fled through Jordan and nearby Cyprus, a parent who has a daughter studying in Israel said.
For some Californians, high transportation costs put owning a car out of reach
Franchescoli Andrade's 20-mile journey to get to work without a car takes about 90 minutes each way through Los Angeles.
U.S. plans to combat "man-eater" screwworms with a facility of flies
The facility will breed millions of sterile New World screwworm flies at Moore Air Base, Agriculture Secretary Brooke Rollins said Wednesday.
State Dept. has new guidelines for vetting student visa applicants' social media
Consular officers are being told to look for "indications of hostility" toward the U.S., its culture, principles or citizens.
AstroAI recalls minifridges that caused $360,000 in property damages
A short circuit in the minifridges caused numerous fires, two of which resulted in more than $360,000 in property damages.
MoneyWatch
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For some Californians, high transportation costs put owning a car out of reach
Franchescoli Andrade's 20-mile journey to get to work without a car takes about 90 minutes each way through Los Angeles.
AstroAI recalls minifridges that caused $360,000 in property damages
A short circuit in the minifridges caused numerous fires, two of which resulted in more than $360,000 in property damages.
FDA approves HIV prevention drug taken as twice-yearly injection
Clinical trials showed 99.9% of participants who received the drug, called Yeztugo from company Gilead Sciences, remained HIV negative.
These interior paint colors could boost your home's sale price by $2,600, Zillow says
Home sellers take note: The color of your kitchen and bedroom could boost your home's sale price.
Federal Reserve maintains its benchmark interest rate at June meeting
The Federal Reserve said Wednesday it will maintain the benchmark interest rate at its current range of 4.25% to 4.5%
Politics
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Trump approved attack plans for Iran — but hasn't made final decision to strike
President Trump has approved an attack plan on Iran, but has held off in case Tehran agrees to abandon its nuclear program, an intelligence source and a defense official told CBS News.
State Dept. has new guidelines for vetting student visa applicants' social media
Consular officers are being told to look for "indications of hostility" toward the U.S., its culture, principles or citizens.
Tucker Carlson spars with Ted Cruz on Israel-Iran strikes
Sen. Ted Cruz sparred with media personality Tucker Carlson, highlighting a rift among President Trump's allies over whether to join Israel's campaign against Iran.
Trump administration to shutter specialized LGBTQ+ suicide lifeline option
A part of the 988 Suicide and Crisis Lifeline dedicated to LGBTQ+ youth — known as 988 option 3 — will close in July, the agency said.
Hegseth says he's giving Trump "options" amid intensifying Iran-Israel conflict
Defense Secretary Pete Hegseth and chairman of the Joint Chiefs of Staff Dan Caine testified Wednesday before the Senate Armed Forces Committee.
HealthWatch
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U.S. plans to combat "man-eater" screwworms with a facility of flies
The facility will breed millions of sterile New World screwworm flies at Moore Air Base, Agriculture Secretary Brooke Rollins said Wednesday.
AstroAI recalls minifridges that caused $360,000 in property damages
A short circuit in the minifridges caused numerous fires, two of which resulted in more than $360,000 in property damages.
Trump administration to shutter specialized LGBTQ+ suicide lifeline option
A part of the 988 Suicide and Crisis Lifeline dedicated to LGBTQ+ youth — known as 988 option 3 — will close in July, the agency said.
FDA approves HIV prevention drug taken as twice-yearly injection
Clinical trials showed 99.9% of participants who received the drug, called Yeztugo from company Gilead Sciences, remained HIV negative.
More than 41,000 retirement-age Americans died of falls in 2023
From 2003 to 2023, the death rate for falls increased more than 70% for adults ages 65 to 74, and more than 75% for those aged 75 to 84. It more than doubled for seniors 85 and older, according to CDC data.
World
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American students, tour groups waiting to evacuate Israel amid missile strikes
Some students have already fled through Jordan and nearby Cyprus, a parent who has a daughter studying in Israel said.
Tucker Carlson spars with Ted Cruz on Israel-Iran strikes
Sen. Ted Cruz sparred with media personality Tucker Carlson, highlighting a rift among President Trump's allies over whether to join Israel's campaign against Iran.
State Dept. has "no announcement" about helping Americans evacuate Israel
The U.S. Embassy in Jerusalem said earlier it was working on dispatching evacuation flights and cruise ships for American citizens who wish to leave Israel.
Princess Kate cancels Royal Ascot visit as she continues cancer recovery
Kate, the Princess of Wales, canceled plans to attend the Royal Ascot horse race as she continues her recovery from cancer.
Erick intensifies into Category 3 storm as it approaches Mexico
Hurricane Erick has become a major hurricane as it approaches Mexico.
Entertainment
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Alison Hall meets Olivia Munn for first time after early cancer diagnosis
Alison Hall credits Olivia Munn's openness with helping detect her breast cancer early. Their emotional first meeting airs Wednesday on "Inside Edition."
Tom Cruise to receive honorary Oscar
Actor Tom Cruise is set to receive an honorary Oscar ahead of next year's Academy Awards. While he has scored four nominations, the "Mission Impossible" and "Top Gun" actor has never won an Oscar.
Tyler Perry sued by "The Oval" actor; Perry's attorney denies claims
An actor who worked on Tyler Perry's TV series "The Oval" has filed a lawsuit accusing Perry of sexual assault and harassment during his time on the show.
Extended interview: Lucie Arnaz on her parents, Lucy & Desi
In this web exclusive, actress and singer Lucie Arnaz talks with correspondent Mo Rocca about growing up the daughter of comedy legends Lucille Ball and Desi Arnaz; her father's experience as a Cuban refugee and as a television pioneer, as documented in Todd Purdum's new biography, "Desi Arnaz: The Man Who Invented Television"; her parents' marriage and divorce; and her own parenting challenges.
Anne Burrell, Food Network star, dies at 55
Anne Burrell, an acclaimed chef from upstate New York, hosted "Secrets of a Restaurant Chef," "Worst Cooks in America" and other popular Food Network shows.
Technology
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Technology
Robotic heart transplant makes history
In a medical first, surgeons at Baylor St. Luke's Medical Center in Houston successfully performed a fully robotic heart transplant on a 45-year-old patient. He now says he's living a brand-new life. Janet Shamlian reports.
Amazon CEO says rollout of generative AI will reshape company's workforce
Andy Jassy, CEO of Amazon, said he expects the company to reduce its workforce over the next few years as it rolls out more generative AI and agents.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
AI data centers are driving up energy bills
An increase in demand for artificial intelligence may be increasing the cost of your electric bills. CBS News national environmental correspondent David Schechter explains.
Scammers use AI to create fake job applicants
Artificial intelligence is being used to create realistic video and audio to impersonate people, in some cases looking for love or deceiving companies looking to hire. In a 2024 study, half of the businesses surveyed said they'd experienced AI deepfake fraud. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Science
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Honda hails successful test of reusable rocket as it seeks space sector entry
Japan's second-biggest carmaker, Honda, has successfully tested an experimental reusable rocket, the company says, as it seeks to expand into the space sector.
Invasive Asian needle ants pose risks
As summer kicks into high gear, the U.S. Forest Service is warning about an invasive Asian needle ant species found in dozens of states. Eric Day, entomologist at Virginia Tech, joins "The Daily Report" with more.
This T. rex ancestor is "missing link" to apex predators, scientists say
Apex predators, like the Tyrannosaurus rex, eventually arose from smaller-bodied tyrannosauroid dinosaurs called Khankhuuluu mongoliensis, the study's researchers said.
What to know about invasive ant with fatal sting reported in multiple states
A "sneaky" invasive species that has a potentially deadly sting can be found in more than a dozen states, according to experts.
Mars volcano that dwarfs Earth's tallest ones seen in new image
It marks the first time Arsia Mons has been imaged on the planet's horizon, NASA said.
Crime
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Crime
Kohberger defense team moves to delay trial
Bryan Kohberger, the man accused of killing four University of Idaho students in 2022, appeared in court Wednesday. His defense team wants the trial delayed, arguing intense public scrutiny threatens his right to a fair trial. CBS News correspondent Jonathan Vigliotti reports.
Karen Read acquitted of murder
A jury has acquitted Karen Read of second-degree murder and manslaughter in the 2022 death of her boyfriend, Boston police officer John O'Keefe. CBS News' Bradley Blackburn has the latest.
Karen Read speaks after acquittal
A jury on Wednesday found Karen Read not guilty of murder and manslaughter in the 2022 death of her police officer boyfriend. Read spoke briefly after leaving the courthouse. See that moment and analysis from trial attorney Robin Nunn.
Watch: Karen Read found not guilty
Karen Read was acquitted Wednesday on charges of second-degree murder and manslaughter in the 2022 death of her Boston police officer boyfriend. See the moment the verdict was read.
Man charged with murder in father's 2003 cold case death
Douglas Herlihy would have been a teenager when his father, Paul Herlihy, died. Officials have charged him with second-degree murder.
Space
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See NASA's image of an intense X-class solar flare
The solar flare peaked at 5:49 p.m. EDT on Tuesday, NASA's Solar Dynamics Observatory said.
Honda hails successful test of reusable rocket as it seeks space sector entry
Japan's second-biggest carmaker, Honda, has successfully tested an experimental reusable rocket, the company says, as it seeks to expand into the space sector.
NASA evaluating data indicating air leaks aboard space station are sealed
If initial results hold up, NASA says the delayed launch of a commercial research mission to the station could come as early as Thursday.
Commercial crew launch delayed while ISS air leak assessed
NASA wants to evaluate recent efforts to stop a small but persistent air leak in the Russian segment of the space station.
Axiom-4 mission delayed due to leak
NASA delayed the Axiom Mission 4 launch on Wednesday after SpaceX detected a liquid oxygen leak during a Falcon 9 rocket inspection. CBS News space consultant Bill Harwood has more.
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Notable Deaths in 2025
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Attack on Pearl Street Mall in Boulder
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
Summer music heats up 2025
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
"No Kings": Protesters across country march against Trump, Musk
Protests against the Trump administration took place across the U.S. Saturday. The demonstrations were held to mark the 250th anniversary of the start of the Revolutionary War.
Jason Corbett murder: A look at the evidence
In August 2015, former FBI agent Tom Martens and his daughter Molly Corbett admitted killing her Irish-born husband Jason Corbett, insisting they beat him in self-defense
Latest CBS News Videos
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Study: Maui fires impacted mental health
Nearly two years after devastating wildfires tore through Maui, a new study shows a glimpse into the journey from crisis to recovery. CBS News correspondent Carter Evans has more.
Powerful heat wave grips Southwest U.S.
Another brutal heatwave is roasting the Southwest with Las Vegas finding itself in the middle of its fourth extreme heat warning before summer officially begins. CBS News reporter Andres Gutierrez has more.
Undocumented workers by the numbers
Julia Ingram, a data journalist for CBS News Confirmed, takes a look at how many undocumented immigrants are in the U.S. workforce.
Reporter's Notebook: Trump weighs war choice
As a candidate in 2016, President Trump accused former President George W. Bush of misleading the nation about weapons of mass destruction in Iraq. Now, he faces the kind of judgment call he built his campaign around criticizing. "CBS Evening News" co-anchor John Dickerson explains.
The state of children's health in America
A new report looking at the overall health of America's children shows both progress and setbacks. Leslie Boissiere, vice president at the Annie E. Casey Foundation, joins to discuss the study.