News

2019

October

18

• Zombie debts are hounding struggling Americans. Tens of thousands of people have received demands to repay alleged overpayments of government benefits – often decades old – plunging them into a Kafkaesque struggle against a faceless bureaucracy.

15

• Reconsidering advice in 3 popular personal finance books. In times of economic stress, it is good to know the basics of personal finance. Many people turn to books for help, so we decided to go back and review three of the most popular

14

• Why are people sleeping in stacked pods?. Space-maximizing pod housing makes up a tiny part of the city’s overall housing mix, but it quietly is popping up in neighborhoods all around Los Angeles (and other big cities) right now. In

11

• Common retiree scams. As baby boomers prepare for the biggest wealth transfer in history, the vultures are circling. This is no surprise, given that nearly half of Americans age 65 or older manage their finances on their own, according

10

• California law blocks debt collectors from emptying your bank account. Gov. Gavin Newsom signed into law a bill that will prevent debt collectors from emptying Californians’ bank accounts. The bill — SB 616 — doesn’t block collectors from draining funds from the account

08

• Renters only: These new homes aren't for sale. A different sort of American dream is under construction outside Denver. More than 130 homes are being framed and nail-gunned together. But there won't be any real estate agents staging open houses. Instead of homeownership,

05

• Public banks can now be formed in California. California cities and counties will be allowed to establish public banks under a controversial bill signed into law by Gov. Gavin Newsom, making California only the second U.S. state to allow such institutions. Public

03

• Debunking a credit score myth: Use less than 30% of your credit limit. The top two factors that determine your credit score are your payment history and the amount you owe.  If your credit card limit was $1,000, you should limit your purchases to no more than $300. This

• Federal government dramatically expanded exposure to risky mortgages. The federal government has dramatically expanded its exposure to risky mortgages, as federal officials over the past four years took steps that cleared the way for companies to issue loans that many borrowers might not

01

• You can’t escape taxes by using 401(k) funds to pay off mortgage. No, there isn't a tax loophole for paying off your house with tax-deferred retirement money.

September

30

• Consumer Action INSIDER - October 2019. The October 2019 issue of the Consumer Action INSIDER details a partnership between Verizon and Consumer Action to combat the onslaught of robocalls; outlines our involvement in the Insurance Consumer Protection Advisory Council (to identify new ways to reduce insurance fraud); informs readers of what action to take when a landlord will not return their security deposit; lists the newest class action settlements; updates readers on the Consumer Financial Protection Bureau's work; and more.

• Consumer Action INSIDER - October 2019. The October 2019 issue of the Consumer Action INSIDER details a partnership between Verizon and Consumer Action to combat the onslaught of robocalls; outlines our involvement in the Insurance Consumer Protection Advisory Council (to identify new ways to reduce insurance fraud); informs readers of what action to take when a landlord will not return their security deposit; lists the newest class action settlements; updates readers on the Consumer Financial Protection Bureau's work; and more.

• For millennials, reality shows like House Hunters are fantasy. Combined, millennial and Gen Z viewers make up a significant portion of the audience for HGTV's popular "House Hunters" show. The network’s unscripted programming is decidedly uncool

26

• Remaking the financial system does not require any new laws. The Trump administration didn’t really need congressional action to realize its deregulatory agenda, though some lawmakers were willing to do Wall Street’s bidding anyway. Witness regulators’ recent gutting of the

• In older houses, a trove of lead risks. Ingested or breathed in, lead — a toxic metal once widely used in paint, pipes and finishes — accumulates in bones and harms the brain and kidneys, among other organs. Lead inspections are costly, so

23

• Zillow partners with homebuilders to marry home buying and building. Homeowners who want to sell their existing home and buy a newly built home can now do so all in one transaction and wait as long as eight months to move out, thanks to a

21

• Keeping consumer complaint database public is big win for consumers. The Consumer Financial Protection Bureau has decided it won’t remove from public view a complaint database that consumers use to ask for help in resolving financial issues, such as problems with a debt

20

• House approves bill to allow you to sue companies (An uphill battle still awaits the FAIR Act in the Senate). Today, in a 225-186 vote, the House of Representatives passed a bipartisan bill that would end forced arbitration requirements in consumer contracts. However, the Forced Arbitration Injustice Repeal (FAIR) Act would need to be successful

• Effort to make LA more eco-friendly means foreclosure. Lang was foreclosed on earlier this year because of her participation in a program called Property Assessed Clean Energy, or PACE, which provides LA County homeowners with no-money-down loans for eco-friendly home improvements. Borrowers repay

19

• 3 things NOT to do with your savings after Fed interest rate cut. The Federal Reserve announced Wednesday that its Open Market Committee had voted to cut the federal funds rate by 25 basis points to a range of 1.75% to 2%.