Finance Globe

U.S. financial and economic topics from several finance writers.

Banks Replacing Credit and Debit Cards After Target Data Breach

Millions of consumers who used a credit or debit card in Target during the data breach period – November 27 to December 15, 2013 – have received a replacement card in the mail sometime in the past several weeks. If you haven’t received a new card already, don’t be surprised if you open an envelope one day and discover you too have received a replacement card from your bank or credit card issuer.Why Are Banks Replacing...
Continue reading
  3109 Hits
  0 Comments
3109 Hits
0 Comments

Federal Agencies Warn of New "Ransomware"

Federal agencies on Tuesday warned to consumers of a new computer malware that can take hold of personal files and literally hold them for ransom.The Federal Trade Commission and the Federal Bureau of Investigation said that the malware, “Cryptolocker,” encrypts your personal documents, photos, and other files. You can’t get it back unless you pay a fee of about $300 and the clock is ticking until it’s gone for good. And there’s no other way to...
Continue reading
  2591 Hits
  0 Comments
2591 Hits
0 Comments

Green Home Building on the Rise

Green home building is projected to continue to climb in the next few years as Americans increasingly search out energy-efficient and environmentally responsible homes, industry experts reported this week.McGraw Hill Construction reported that last year, the green home-building industry accounted for 23% of residential construction and is projected to grow to between 26% to 33% by 2016. This increase would more than double the value of the industry, growing from $36 billion in 2013 to $83-$105...
Continue reading
  2491 Hits
  0 Comments
2491 Hits
0 Comments

CFPB Begins Taking Payday Loan Complaints and Makes First Action

Consumers who feel taken advantage of by one of the most infamously predatory businesses – payday lenders – now have a place to send their complaints. In early November, the Consumer Financial Protection Bureau announced it would begin taking complaints on payday loan businesses via its complaint form found at ConsumerFinance.gov/complaint or by phone to 1-855-411-2372. Some of the potentially illegal practices you can complain about include: unexpected fees or interest, unauthorized charges to you bank...
Continue reading
  2914 Hits
  0 Comments
2914 Hits
0 Comments

BBB: Be Alert for Health Insurance Scam

Americans should be on alert for scammers posing as government workers, the Better Business Bureau advises. The purpose of the scam is to fool you into sharing your personal information, which can then be used to commit identity theft.The scam starts with a phone call from the con artists who claims that you have been selected to receive insurance cards through the Affordable Care Act - also known as “Obamacare.” In order to receive your insurance...
Continue reading
  2723 Hits
  0 Comments
2723 Hits
0 Comments

FTC Survey: 25.6 Million Victims of Fraud

The Federal Trade Commission has released the results of its latest survey on fraud. Conducted in late 2011 and early 2012, the survey reveals there were 25.6 million victims of fraud. Here are the top 10 fraud categories: Weight-loss products, 5.1 million victimsFraudulent prize promotions, 2.4 million victimsUnauthorized billing for buyers’ club membership or internet services, 1.9 victimsWork-at-home programs, 1.8 million victimsCredit repair scam, 1.6 million victimsDebt relief, 1.5 million victimsCredit card insurance, 1.3 million victimsBusiness...
Continue reading
  2998 Hits
  0 Comments
2998 Hits
0 Comments

FTC Reports the Top 10 Complaints of 2012

When consumers have trouble with businesses, the Federal Trade Commission is often the go-to government agency for complaints. Each year, the FTC compiles a report on the complaints it received from the previous year. In 2012, the FTC’s biggest complaint category was identity theft. That makes the 13th year in a row that identity theft has topped the FTC’s list of complaints. Eighteen percent of all the FTC’s complaints were related to identity theft, similar to...
Continue reading
  2976 Hits
  0 Comments
2976 Hits
0 Comments

Should the Federal Minimum Wage Increase to $9?

In this week’s State of the Union address, President Barack Obama recommended the minimum wage be incrementally increased to $9.00 per hour and be tied to the inflation rate after that. Having the Federal minimum wage indexed to inflation would help make sure that employees are paid a wage that keeps up with increased cost of living. All workers can benefit from increased minimum wage. Generally, other wages move up when the Federal minimum wage goes...
Continue reading
  3067 Hits
  0 Comments
3067 Hits
0 Comments

USPS: Saturday Mail Delivery to End in August

The U.S. Postal Service announced on Wednesday its plans to drop Saturday letter delivery to street addresses beginning in August. The move is expected to save the financially ailing agency an estimated $2 billion per year. “The Postal Service is advancing an important new approach to delivery that reflects the strong growth of our package business and responds to the financial realities resulting from America’s changing mailing habits,” said Patrick R. Donahoe, Postmaster General and CEO....
Continue reading
  2421 Hits
  0 Comments
2421 Hits
0 Comments

NAR: 2012 Most Affordable Year in Housing

Americans who were able to get a mortgage and bought a home last year took advantage of the low prices and great mortgage rates in the most affordable housing year on record. Housing affordability set an annual record in 2012, the National Association of Realtors reported on Wednesday.In 2012, the NAR’s National Housing Affordability Index hit its record high at 194, topping the previous record of 186 in 2011. The index is based on the relationship...
Continue reading
  2613 Hits
  0 Comments
2613 Hits
0 Comments