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finance

A federal court has fined a Connecticut investment company $22 million for running a Ponzi scheme. Sharon-based Wilkinson Financial Opportunity Fund bilked 30 investors out of $11 million.

Home Equity Helping People Build Household Wealth

Nov 24, 2016
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Mitchell Hartman

Remember the housing crisis? Well, for many American homeowners, it’s now squarely in the rear-view mirror. A report from RealtyTrac finds that the percentage of homeowners who are underwater — meaning they owe more on their mortgage than their home is worth — has fallen to about 10 percent. It was 28 percent at its peak in 2012. The main reason: home prices have been rising, for years, helped by low mortgage rates. So homeowners have been able to build wealth through the equity they have in their homes.

Harriet Jones / WNPR

The proportion of people in Connecticut who are working, and yet still struggling to make ends meet has risen in the last two years. That's according to a new study from United Way.

The federal government is offering official approval for Rhode Island’s plan to toll commercial trucks on state bridges. The toll has generated opposition from the trucking industry and some businesses concerned about how the new tolls might impact the economy.

State Department of Transportation Director Peter Alviti says the go-ahead from the federal government is the final step needed to move forward with the project.  The tolls will be installed in 13 locations, and 34 bridges so far are slated for repairs from the toll revenue.

The office of New York State Attorney General Eric Schneiderman issued a "Notice of Violation" to the Donald J. Trump Foundation and ordered the foundation to cease and desist from soliciting contributions in New York.

The notice states that the Trump Foundation failed to register with the Charities Bureau before soliciting contributions or engaging in fundraising activities.

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