Fed Rate Hike, State Farm's $5 Billion Refund, and 4 More Money Alerts

The Fed raised rates again this week, pushing the range to 3.75% to 4%. That means variable rate credit cards and home equity lines just got pricier. State Farm is also sending back $5 billion to drivers who had a 2025 policy, even ones who've since switched companies. And if you bought a home listed on the MLS anytime since 2006, you might be owed part of a $120 million settlement.

I'm Ralph Estep Jr., a licensed public accountant with 30 years in the business. My cohost Juliet and I cover stories like these every weekday on Becoming Financially Confident.

Quick take

• Fed hike pushes rates to 3.75% to 4%. Variable cards and home equity lines feel it first.

• State Farm owes drivers who had a 2025 policy, even ones who've switched insurers since. Average payout: about $100.

• A $120,334,500 settlement covers home buyers since 2006. Deadline to file: October 27.

• USPS Informed Delivery shows you what's arriving before a check gets lost.

• A romance scam cost 26 women $1.3 million. Report scams to local police first.

Did your credit card rate just go up?

If it's variable, yes. Check the Schumer box in your cardholder agreement. If your APR reads "prime plus" a number, it moves with the Fed automatically, no notice required. Home equity lines work the same way. List your balances and rates now, then pay down the highest one first.

Are you owed part of State Farm's refund?

If you had a State Farm auto policy anytime in 2025, yes, even if you've since switched. It's the largest dividend in the company's 100-plus year history, covering 49 million vehicles. Payouts run 4% to 10% of what you paid. Confirm your address and email are current with State Farm, and type the claims site in directly instead of searching for it. Scam sites can look identical in search results. Questions? Call 888-808-9532.

Could you be part of the $120 million MLS settlement?

If you bought a home listed on an MLS anytime since 2006, maybe. The settlement covers buyers, not sellers, in a case against the National Association of Realtors and roughly 30 brokerages over inflated commissions. You'll need a closing disclosure, HUD-1, or recorded deed. Your county recorder's office can usually pull the deed if you've lost it. Deadline is October 27.

What is USPS Informed Delivery?

A free tool that emails you photos of your mail before it arrives, apartments included. Settlement checks and refund notices tend to come in plain envelopes that are easy to toss. Ten minutes to set up, and you'll actually see them coming.

How do scams like the Deaon Love case work?

Deaon Love, 35, allegedly posed as a former NFL player and ran a romance scam that cost 26 women $1.3 million combined. He's charged with wire fraud and conspiracy. Ralph has seen worse: a client in cancer treatment lost $250,000 to someone posing as a celebrity, then got pulled into signing fraudulent mortgage paperwork without knowing it. Report scams to local police first. Getting money back is unlikely once it leaves the country, but a report can stop the next victim.

Are timeshares ever worth it?

Only if you actually use them, and most people don't. The average loan is $23,160, a deeded week runs $16,000 to $23,000, and maintenance fees add about $1,550 a year. Buying one? Use your state's rescission window to cancel within the first few days. Trying to exit an old one? Skip any company charging an upfront fee. The FTC has gone after several. Start with your state attorney general's office and ftc.gov instead.

Have a money question of your own? Send it to becomingfinanciallyconfident.com/voicemail, or catch us live every weekday at 11:30 AM ET at becomingfinanciallyconfident.com/live.