News

2019

May

16

• 5 things that changed for consumers since Trump became president. Every president brings change. Laws change. Regulations change. The direction of the country changes. That’s what happens. But drop your political lens for a moment. Think consumer protection. What happens if you&rsquo

13

• Many Americans will need long-term care but won’t be able to afford it. Depending on how one defines the need, half to two-thirds of older Americans will eventually require long-term care.   Even among middle-income seniors with housing equity, more than half will be unable

• Beware of credit repair companies. People struggling with loan payments and falling credit scores may be tempted to seek a quick fix. But they should be wary of so-called credit repair companies that promise to scrub credit files and improve

• Post your credit bureau complaint and likely get a response. In fact, if you’ve tried to get a credit bureau to remove erroneous information without any progress, try submitting your complaint here: consumerfinance.gov/complaint.  And, what do you know? Having

10

• Trump plan to evict undocumented immigrants could displace 55,000 children. The Department of Housing and Urban Development acknowledged that a Trump administration plan to purge undocumented immigrants from public housing could displace more than 55,000 children who are all legal U.S. residents or citizens. Current

06

• The far-reaching burden of America's student debt. The $1.6 trillion in U.S. student debt may not pose a direct threat to the economy, but it’s causing anguish that goes far beyond financial concerns for the people who owe it. One

03

• Where the good jobs are. For people without a college degree, finding work that offers decent pay can be a challenge. The solution may require a change in scenery.

02

• Fifth Third to give low-income borrowers money for mortgage closing costs. Aiming to boost homeownership for low-income families, Fifth Third Bank is rolling out a new mortgage lending program that will provide as much as $1,500 that certain borrowers can use to cover their closing costs. Fifth

April

24

• How Nest home protection allowed hackers in. Software designed to help people break into websites and devices has gotten so easy to use that it’s practically child’s play, and many companies, including Nest, have effectively chosen to let

• Tax tips for home buyers and sellers. While the 2019 tax filing season may be over, if you’re buying or selling real estate this year, you may want to consult a tax expert as well as a real estate agent.

22

• Why aren't more people tapping into their home equity?. The options for tapping in to home equity appear to be growing.  Of course, you have your standard HELOCs and home equity loans and – for seniors –reverse mortgages could be an option.

19

• How to make retirement last the rest of your life. I thought the hard part was living within your means and saving for retirement. It’s not. Trying to figure out how to cash out your nest egg—your tax-deferred retirement account, your

• CFPB head says people need ‘to help themselves’. After becoming head of the Consumer Financial Protection Bureau—a job for which she had little if any relevant experience—Kathleen Kraninger went on what she called a three-month “listening tour”

18

• Could debt collectors send you texts, emails?. The Consumer Financial Protection Bureau will unveil debt collection rules in a few weeks, the agency’s director said potentially unleashing a battle over the industry’s tactics and consumers’ rights. The

• No-income, no-asset mortgages are back. NINA loans are loans that do not include a requirement for a borrower to prove income or assets. No Income, No Assets = NINA. And now, NINA loans are back, as 360 Mortgage Group announced, that it

• Same-sex couples face higher rejection and worse mortgage rates. Gay couples were 73 percent more likely to be denied a mortgage than heterosexual couples with the same financial worthiness, according to an analysis of national mortgage data from 1990 to 2015. The study, published in the Proceedings

16

• Mulvaney’s master class in destroying the government from within. The C.F.P.B. was created to protect Americans from predatory lenders after the financial crisis. President Trump’s new chief of staff took it apart on his way to White House. Inside

11

• With $13 billion in disaster relief stuck in gridlock, lawmakers head to recess. The fight between President Trump and Democrats over money for Puerto Rico has left a major disaster aid bill languishing on Capitol Hill, with lawmakers preparing to head home for a two-week recess with no

10

• Bank of America to raise minimum wage to $20 an hour by 2021. Bank of America said Tuesday that it would raise its minimum wage to $20 an hour by 2021, a move that comes a day before banking industry leaders are scheduled to be grilled on Capitol Hill on

08

• Increase in risky corporate loans could lead to financial crisis. Actions by federal regulators and Republicans in Congress over the past two years have paved the way for banks and other financial companies to issue more than $1 trillion in risky corporate loans, sparking fears that