The battle for CFPB’s future

Lost in the clamor over health-insurance repeal and tax reform has been a move by Republican members of Congress to attack Consumer Financial Protection Bureau (CFPB).

Avoiding the wealth illusion

According to an analysis that was published in February 2017 by Center for Retirement Research (CRR) at Boston College, 19 percent of those who were surveyed believe that they have enough money saved for retirement. In fact, they don’t, the analysis found. 

Bank overdraft charges rise

Moebs Services, which is an economic-research company, estimates that banks pulled in $33.3 billion in overdraft fees in 2016.

Chip-card backlash

In September 2016, Visa reported that the U.S. switch to credit cards that include a security chip resulted in a 47 percent decrease in retail fraud.

Chip-card backlash

In September 2016, Visa reported that the U.S. switch to credit cards that include a security chip resulted in a 47 percent decrease in retail fraud.

The IPO play

When Snap, which is the parent company of social-media platform Snapchat, went public in March 2017, it did so amid a lot of hype

Discounted stars

It won’t be long before shopping for back-to-school apparel begins, but what about shopping for the stock of apparel retailers?

A card up your sleeve

The post-election stock-market rally provided a “great example of why you shouldn’t try to time the market,” says Harold Pollack, who is a University of Chicago professor who is best known for his viral 4-by-6-inch index card of simple personal-finance advice.

Contingency plans

A December 2016 Fidelity Investments report found that 60 percent of people who are age 50–80 say a family member or a friend lost the ability to manage his/her day-to-day finances, but only 9 percent believe that such a thing could happen to them.

Taxes & Roth IRAs

With lawmakers in Washington keen to lower taxes, the time is right for you to invest in a Roth individual retirement account (IRA) or a Roth 401(k), two experts tell Consumers Digest.

Saving money on the job

When human-resources specialist Aon Hewitt surveyed representatives of at least 250 employers recently—many that encourage employees to save for retirement—only 15 percent of the respondents said they’re “satisfied” with how much money that employees save for retirement.

Buying stocks for kids

A gift of stock to children can provide good lessons as well as profits—particularly if the stock is a company that children know and like, two experts tell Consumers Digest.

Rediscovering travel agents

In June 2016, American Society of Travel Agents (ASTA) reported that 22 percent of consumers booked a trip through a travel agent between May 2015 and April 2016—the highest level in 3 years.

Student debt also for elders

Over the past decade, the number of U.S. consumers who are age 60 and older and have student-loan debt quadrupled—primarily because they financed their children’s and grandchildren’s education, according to a January 2017 report from Consumer Financial Protection Bureau.