Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

November 27, 2023 Edition
Focus on Banking & Finance

Keeping fraud in check: Maine banks combat rising wave of check fraud

Renee Cordes

Banks and credit unions are spending more to prevent check fraud, which is escalating nationwide even as people write fewer checks.

Today's Poll

Are you worried about how potentially higher U.S. tariffs could affect your business?
Poll Description

With the election of Donald Trump to a second term as president, it seems likely that the United States will impose significant tariffs on imported goods and materials.

A tariff is a tax, of course — though not truly a sales tax, as it's been called. For American businesses and consumers, however, the effect could be the same.

Under Trump's plan, businesses would have to pay a tariff of 10% to 20% on anything they import, and as much as 60% on imports from China. Typically, such extra costs get passed along to customers in the form of higher prices.

When other countries retaliate with tariffs of their own on U.S. exports, the effect is compounded.

The Peterson Institute for International Economics, a nonpartisan think tank, issued an analysis in September of what all this could mean.

Among the findings: "Assuming other governments respond in kind, Trump’s 10 percentage point increase results in U.S. real GDP that is 0.9 percent lower than otherwise by 2026, and U.S. inflation rises 1.3 percentage points above baseline in 2025."

More Information