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Hi there, Money reader! In an iconic episode of Seinfeld, George’s dad, sick of crass seasonal commercialism, celebrates a holiday of his own creation. Festivus involves the airing of grievances, feats of strength and an aluminum pole decorated with tinsel. In the same episode, another character, Kramer, quits his short-lived bagel store job because his boss won’t let him take the day off to observe Festivus. The nerve. This year, the struggle continues. But while most workers still won’t get a day off for Festivus, some will catch a break for Christmas Eve instead. Federal employees, at least, can skip the feats of strength and enjoy a longer holiday, as we’ll discuss below. So Happy Festivus. A donation has been made in your name to the Human Fund (IYKYK). — Kat Peach
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The federal government just slipped a little extra ribbon onto the holiday season — but only for a select crowd. Thanks to an executive order signed by President Trump, Christmas Eve and the day after Christmas are federal holidays this year only. With Christmas landing on a Thursday, many federal workers have been enjoying a delightfully short two-day workweek, while everyone else refreshes their inbox in jealousy. This isn’t exactly unprecedented holiday generosity. Similar one-off Christmas Eve holidays popped up under both Trump’s first term and the Obama administration. But don’t expect this to become a permanent fixture. Turning December 24 or 26 into an official, recurring federal holiday would take Congress, not a pen flourish. The last new federal holiday — Juneteenth — arrived in 2021. For most Americans, it’s business as usual. Private employers aren’t required to give time off, banks and the post office stay open and retailers mostly just tweak their hours. — KP |
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Healthy Paws helps protect you from surprise vet bills A single trip to the emergency vet can cost hundreds, even thousands, of dollars — and few pet parents are prepared for that kind of financial surprise. Healthy Paws pet insurance helps you focus on care, not cost. Its plans cover accidents, illnesses and even alternative treatments, offering fast reimbursements and no payout limits. You can visit any licensed vet, specialist or emergency clinic in the nation. Stop worrying about the what-ifs and start worrying about where you hid the treats. See why so many pet owners trust Healthy Paws for lifelong coverage. |
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In keeping with the Festivus theme, should you have a money-related grievance, you’d likely direct your concern to the Consumer Financial Protection Bureau (CFPB), which is back in the news this week.
The agency that is responsible for capping overdraft fees, banning medical debt from credit reports and making it easier to switch banks is liable to run out of money soon. The CFPB is funded by the Federal Reserve, but under its current acting director, Russell Vought, the agency has refused to accept any money from the Fed.
Now, a coalition of 21 state and district attorneys is suing the Trump administration to prevent it from shutting down the CFPB. As NPR reports, the administration says it’s operating at a loss and thus wasting taxpayer money — an argument rejected by the coalition.
Vought has been trying to gut the consumer watchdog since early this year. His efforts — including attempts to fire the majority of the agency’s staff — have been put on hold by court rulings. The CFPB has long been a target of criticism from conservatives, who say that the agency has been too aggressive in its enforcement and isn’t accountable enough to Congress.
The lawsuit argues that Vought’s refusal to request funding is unlawful, and efforts to shutter the CFPB conflict with the agency’s obligation to help states to respond to consumer complaints. — Annie Johnson
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In the newsroom, our editors are talking about... |
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There are a few (small) steps you can take to control your health care costs. The key? Acting now, not later. |
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This issue of Daily Money was written by associate editor Kat Peach and senior audience development editor Annie Johnson. It was edited by associate editor Kat Peach. Questions? Comments? Concerns? Please email [email protected] with any feedback. |
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