Stay updated on financial news, market trends, and economic changes that affect your money. From interest rate hikes to government policy shifts, we break down what’s happening now—and what it means for your finances.
Equifax, one of the world’s largest suppliers of credit information and related services, recently announced a data breach that may have affected as many as 143 million consumers in the United States. The company went on to explain that “criminals exploited a U.S. website application vulnerability to gain access to certain files.” At this point, … Read more
The federal government on Tuesday ordered Citibank and its subsidiaries to pay back consumers approximately $700 million harmed by the bank’s illegal practices conducted from 2003 through 2012. The Consumer Financial Protection Bureau (CFPB) said that roughly 7 million of the bank’s customers were affected by Citibank and its vendor’s deceptive marketing, unfair billing practices, and … Read more
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 … Read more
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 … Read more
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 … Read more
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 … Read more
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 … Read more
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 victims Fraudulent prize promotions, 2.4 million victims Unauthorized billing for buyers’ club membership … Read more
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 … Read more
The IRS tax refund tracker tool has become so popular for people expecting a tax refund that the IRS has put out a notice asking taxpayers to limit their inquiries to no more than once per day. As more returns come in, the IRS said it is experiencing high traffic on “Where’s My Refund?” at … Read more
