Trump's comment goes viral, infects news sites with hallucinatory reports

• President Trump suggests Americans could see rebate checks from tariff revenue, though details are still unclear.

• Sen. Josh Hawley (R-Mo.) introduces the American Worker Rebate Act of 2025 to send checks to taxpayers.

• IRS confirms deadlines for past stimulus payments have passed, and warns against misinformation about a fourth stimulus.

As Americans continue to feel the effects of inflation and look ahead to tax season, many are wondering whether new relief checks are on the way. While rumors of a fourth stimulus check continue to spread online, the reality is more complicated. Instead of another pandemic-style payment, Washington is now focused on rebate proposals tied to tariffs and new legislation.

But, to put it plainly, despite a torrent of Google queries for "1390stimulus checks" and any number of online news stories saying that the IRS "reportedly confirms"the refunds, it is what might be called "fake news" at this point. The rumors are apparently based on comments from President Trump and pending but not enacted legislation.

Trumps Tariff Rebate Idea

On July 25, President Donald Trump said the federal government has seen a surge in revenue from new tariffs. He suggested that some of that money could be returned directly to taxpayers.

We have so much money coming in, were thinking about a little rebate, Trump said. But the big thing we want to do is pay down debt. But were thinking about a rebate.

So far, the White House has not released details about eligibility, income thresholds, or how much such a rebate could be worth.

Hawleys American Worker Rebate Act

Just days after Trump's comment, Sen. Josh Hawley (R-MO) introduced the American Worker Rebate Act of 2025, which aims to send checks to working Americans. While the bill signals strong interest among Republicans in delivering direct financial relief, it is still in the early stages of the legislative process. No payment schedule has been set.

In other words, despite viral posts claiming a new $2,000 check is on the way, Congress and the IRS have made no such announcement.

• The first three stimulus checks were sent between 2020 and 2021, with maximum amounts of $1,200, $600, and $1,400.

• The IRS says the window to file for missing payments has closed. The deadline for claiming the third and final Recovery Rebate Credit of $1,400 was April 15, 2025.

• Any unclaimed payments are now the property of the U.S. Treasury.

If you missed out on a payment, unfortunately, there is no appeals process or extension available.

State-Level Inflation Relief

While a new federal stimulus remains uncertain, some states are offering inflation rebate checks in 2025:

• New York: up to $200 for individuals earning under $75,000; up to $400 for married couples under $150,000.

• Pennsylvania, Georgia, and Colorado: have issued property-tax or inflation-related rebates, with varying criteria.

Amounts and qualifications differ by state, so its best to check your states Department of Revenue website for updates.

Rebate vs. Stimulus: Whats the Difference?

• Stimulus checks: Direct payments designed to boost consumer spending and stabilize the economy.

• Rebates: Partial refunds tied to specific revenue sources (like tariffs or state tax collections). They function more like a payback or refund than a broad economic stimulus.

How to Track Refunds or Payments

If you have filed your income tax return and have a refund coming, that's entirely separate from any stimulus that may, or may not, eventually be enacted. Here's how to check on your refund if you haven't received it yet:

• Federal refunds: Use the IRS Wheres My Refund? tool at irs.gov.

• State refunds: Visit your states revenue or taxation department website.

• Avoid : The IRS does not email, text, or call to request personal or banking information for refunds or stimulus payments. Be wary of websites or social media accounts promising instant stimulus checks.

Whats Next?

President Trump has also floated another idea a $5,000 DOGE dividend based on savings identified by Elon Musks Department of Government Efficiency. However, no official plan has been released, and experts caution it could remain just a talking point. The fact that someone, even a high official, says something doesn't mean it's real.

Checklist: How to Know If Youre Eligible for Relief

1. Federal stimulus/rebate checks

   • No new stimulus check has been approved.

   • Watch for updates on Trumps tariff rebate or Hawleys Rebate Act through official government announcements.

2. Past stimulus payments

   • The filing deadline for the third stimulus check expired on April 15, 2025.

   • If you missed it, there is no further action you can take.

3. State-level relief

   • Check your states Department of Revenue or taxation website.

   • Look for programs labeled inflation rebate, tax refund, or relief check.

4. Tracking your refund or rebate

   • Use the IRS Wheres My Refund? tool atirs.govfor federal refunds.

   • Use your states refund tracker for state rebates or tax refunds.

5. Avoid

   • The IRS never asks for banking details by phone, email, or text.

   • Rely only on official .gov websites or trusted tax professionals.

Quick Comparison: Federal vs. State Relief

Card satisfaction hinges on financial health, study finds

By Mark Huffman of ConsumerAffairs

• More than half of U.S. credit card holders (53%) are carrying revolving debt, while 56% are considered financially unhealthy.

• Satisfaction with credit cards is rising among financially healthy users but slipping for those struggling with debt.

• American Express ranks highest in overall customer satisfaction for the sixth year in a row.

Economic uncertainty is changing the way Americans use their credit cards. According to the newly released J.D. Power 2025 U.S. Credit Card Satisfaction Study, more than half of cardholders are carrying debt from month to month, and a majority are struggling with their financial health.

The study points to a growing divide: financially healthy customers those who spend within their means and avoid revolving debt report far greater satisfaction with their credit cards than those facing financial stress.

Although financial health and debt levels began improving later in the year, satisfaction is lower in multiple areas among a large portion of credit card customers, said John Cabell, managing director of Payments Intelligence at J.D. Power. At the same time, financially healthier cardholders are driving significant gains in satisfaction, particularly those using rewards programs and premium cards.

Spending down, payment plans rising

The average American cardholder is spending less on credit cards. Monthly charges dropped by $68 compared with last year, falling to $1,058.

At the same time, more consumers are turning to Buy Now, Pay Later (BNPL) programs. One in five credit card users used BNPL in the past year, and 37% say they would consider switching to a different lender for these services.

This trend shows the strain many households face as incomes stagnate and prices remain volatile.

Things that shape satisfaction

The study revealed a curious paradox: while high annual fees are often unpopular, customers paying $500 or more in fees reported higher overall satisfaction with their card experience. These premium cards tend to deliver stronger rewards and benefits that offset the cost for financially healthier consumers.

Meanwhile, merchant surcharges are frustrating customers. About 65% of cardholders reported being charged extra for paying with a credit card.

Satisfaction scores dropped sharply, by an average of 39 points, when surcharges were involved. Many said they opted for alternative payment methods to avoid the added cost.

The rankings

For the sixth consecutive year, American Express ranked highest in overall customer satisfaction among major issuers, scoring 643 out of 1,000. Bank of America (622) and Capital One (621) followed.

Top-rated individual cards included:

• Capital One Savor Rewards (No Annual Fee) highest satisfaction among no-fee rewards cards.

• The Platinum Card from American Express highest among annual fee rewards cards.

• Capital One Platinum Mastercard highest among no-fee, no-reward cards.

• Citi/AAdvantage Executive World Elite Mastercard highest among airline co-branded cards.

• Hilton Honors American Express Card highest among co-branded no-fee cards.

The study, now in its 19th year, is based on surveys from more than 37,000 credit card customers between June 2024 and June 2025.

It all depends on the state where you live

By Mark Huffman of ConsumerAffairs

• The typical American household spends $2,058 a month on essential bills, about one-third of the median income.

• California, Hawaii, New Jersey, and Massachusetts are the most expensive states for household bills.

• West Virginia, Mississippi, Arkansas, and Oklahoma are the most affordable places to cover monthly essentials.

If you feel like your bills are eating up a big chunk of your paycheck, youre not alone. A new 2025 State-by-State Bill Pay Market Report from doxoINSIGHTS finds that the average American household spends $2,058 per month on essential bills, making up about 31% of household income.

That number covers the basics: mortgage or rent, utilities, car payments and insurance, phone service, internet, health insurance, and even things like waste removal or alarm systems.

The most expensive states

Not surprisingly, states with high housing and living costs dominate the top of the list. California households pay a median of $2,854 a month, nearly 40% more than the national average. Hawaii, New Jersey, and Massachusetts also rank among the priciest, with bills topping $2,600 a month.

Other expensive states include:

• Maryland: $2,505

• Washington: $2,453

• New York: $2,412

• Colorado: $2,391

For families living in these states, bills can take up nearly a third of their income, leaving less room for savings or extras.

Where bills are lowest

On the flip side, the most affordable state is West Virginia, where residents spend just $1,149 per month, less than half of what Californians pay. Other states with lower bills include Mississippi, Arkansas, and Oklahoma, all with typical monthly costs around $1,500.

That means a family in West Virginia is paying 44% less than the national median for the same essential services.

Knowing how your bills stack up against the national average can help you plan your budget and even guide big decisions, like moving to another state for affordability.

For example, someone relocating from New Jersey to Kentucky could save more than $1,000 a month on bills, simply due to differences in housing and utilities. Over a year, thats over $12,000 in savings.

The data also highlight how much housing and insurance costs drive financial stress in certain regions. Even if incomes are higher in expensive states, the bigger bill burden means families often have less flexibility in their budgets.

But home prices continue to go up

By Mark Huffman of ConsumerAffairs

• Mortgage rates fell to their lowest level since October, with the 30-year fixed-rate mortgage averaging 6.58% and the 15-year averaging 5.71%, boosting affordability and purchase activity.

• Declining rates have lowered the median monthly mortgage payment to $2,631, a seven-month low, giving buyers with a $3,000 budget about $20,000 more purchasing power compared to Mays peak rates.

• Despite lower borrowing costs, home prices continue to climb, with the median home price reaching $396,000 in August, up 2.1% year over year, marking the fastest price growth since early April.

Mortgage rates continue to fall and this week hit their lowest level of 2025. Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaged 6.58% this week.

Mortgage rates fell to their lowest level since October, said Sam Khater, Freddie Macs chief economist. Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates.

Latest rates

• The 30-year FRM averaged 6.58% as of August 14, 2025, down from last week when it averaged 6.63%. A year ago at this time, the 30-year FRM averaged 6.49%.

• The 15-year FRM averaged 5.71%, down from last week when it averaged 5.75%. A year ago at this time, the 15-year FRM averaged 5.66%.

The decline in rates helps offset the continued rise in median home prices, improving affordability. Real estate broker Redfin reports the median monthly mortgage payment fell to a seven-month low of $2,631 during the four weeks ending August 10, down $215 from its May peak of $2,846. Last week marked the 12th consecutive week that monthly payments either dropped or stayed flat.

That means that a buyer on a $3,000 monthly budget gained roughly $20,000 in purchasing power since mortgage rates hit a recent peak of 7.08% in May.

Limited window

The mortgage rates that buyers can lock in today have already priced in the likelihood that the Fed will cut rates on September 17, said Redfins head of economics research Chen Zhao. That means that mortgage rates are unlikely to drop any further when the Fed actually makes the expected cut. And the window to snag a mortgage rate in the mid-6s may be limited: Increased rate volatility is expected in coming weeks as new economic data is released.

But while rates are beginning to favor buyers, prices arent. According to Redfin, the median home price grew to $396,000 during the four weeks ending August 10, up 2.1% year over year, the fastest growth since early April.

Last week was the fifth consecutive week that price growth gained steam after dropping to a two-year low in early July.

ustomers of Capital Ones 360 Savings account may be eligible for compensation.

By Truman Lewis of ConsumerAffairs

• $425 million class action deal: Customers of Capital Ones 360 Savings account may be eligible for compensation.

• Alleged $2 billion in lost interest: Regulators said Capital One froze rates at 0.3% while competitors and its own newer account paid much more.

• Claims deadline Oct. 2: Settlement awaits court approval, with a final hearing set for Nov. 6.

If you had a Capital One 360 Savings account between September 2019 and June 2025, you may soon be entitled to a payout. The bank has agreed to a $425 million settlement to resolve allegations that it misled customers about the returns on its flagship savings product.

The settlement follows a 2024 class action lawsuit filed by customers in federal court in Alexandria, Virginia. Earlier this year, the Consumer Financial Protection Bureau (CFPB) also sued Capital One, charging that the bank cost consumers more than $2 billion in lost interest. Although the CFPB dropped its case in February, the class action moved forward leading to this large settlement.

What Capital One was accused of

Capital One heavily marketed its 360 Savings account as a high-interest, variable-rate product that would pay among the nations best yields. In practice, however, the bank allegedly froze rates at just 0.3%, even as national interest rates climbed rapidly during 2022.

Meanwhile, Capital One launched a separate 360 Performance Savings account, which eventually offered rates as high as 4.3%. Customers of the older 360 Savings account were never notified of the newer, higher-earning option, according to filings.

The CFPB called the banks earlier advertising false or otherwise misleading.

Who qualifies for payment

Anyone who held a Capital One 360 Savings account between Sept. 18, 2019, and June 16, 2025 qualifies for settlement payments.

How much will customers receive

Payments will be based on what account holders would have earned if their money had been in the 360 Performance Savings account during the same period.

In addition, customers who still maintain a 360 Savings account will see their interest rates raised. Under the terms of the settlement, the account will now earn a rate that is at least twice the national average savings rate, as calculated by the FDIC.

Key dates

• Oct. 2, 2025: Deadline to submit a claim or file objections.

• Nov. 6, 2025: Court hearing scheduled for final settlement approval.