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Last week, the Consumer Financial Protection Bureau (CFPB) has proposed new rules for payday loan companies.

President Obama has praised the CFPB for this step, which is aimed to keep a control on payday loan companies. President Obama shared that payday lenders are generally present in low income areas. They offer cash advances for a short term at a price.

He visited Alabama and found that payday loan stores were four times more than McDonald's food outlets. Experts affirmed that though payday loans are considered as easy money, a person gets trapped in a debt circle.

US Sen. Charles E. Schumer on Sunday urged Congress to pass the Paycheck Fairness Act that would ensure that equal wages are paid for equal work, regardless of gender.

Schumer said the data which showcased that women earn nearly $5,100 less a year in nursing as compared to men highlights the need for the Paycheck Fairness Act.

In his view, men and women who perform the same job should also get equal wages. And if women are discriminated even in nursing field then they're not protected anywhere, he said.

As per sources familiar with the issue, the bill would ban employers from retaliating against workers for sharing salary information and increase the compensation for women who bring job discrimination complaints.

Each year, the tax filing deadline on April 15 grips the taxpayers across the nation with stress of filing taxes. Over the past few years, increasing number of people have been filing tax returns online and this has helped in quick disbursal of tax refunds. However, taxpayers must be well aware of the tax frauds and avoid paying high fee to some tax preparers.

Some useful tips have been offered by IRS to the taxpayers in order to avoid any kind of scam while filing their returns or in getting a tax refund. The best option to get timely refunds is e-filing of returns and direct deposit for tax refund.

On Monday, Swedish carmaker Volvo said that it would make an investment of $500m in order to construct a new factory in the US. This step has been taken by the company as it is looking forward to sell more 100,000 cars a year in the US, which is world's second largest auto market.

The target of selling 100,000 cars a year focuses on approximately 80% growth from current sales levels. It is expected that this year, the US market will reach 16.9m units. There has been growth in sales of General Motors, Chrysler and Ford.

Last year was the best year of gains since 1999 for the job market in the United States. In addition, in the third quarter, economy activity of the country hit a massive 5%, marking its best pace since 2003. After closing out 2014 with Superman strength, the country's economy has started losing momentum.

According to reports, hiring is still on, but many experts have started to scale back their growth forecasts. In a speech on Friday, Federal Reserve chair Janet Yellen said that if the underlying conditions have actually come back to natural, the economy of the country should be booming.

The Obama administration believes that various brokers are not properly watching out for their clients and are pushing risky and expensive investments in a rush for big commissions. An investor Susan Bernardo trusted her stockbroker but she ended up losing a fortune.

According to Bernardo, her broker David Harris gave suggestion to her to sell $400,000 worth of comparatively safe municipal bonds. She has also been advised to sink the proceeds into real estate and energy partnerships in expectation of receiving more income.