IRS hiring debt collectors

At press time, IRS said it expects that by September 2017, about 140,000 overdue accounts would be transferred to four private debt collectors. Consumer advocates criticize the move, which was mandated by 2015 legislation.

On the career path

Criteria that were used in a May 2017 study by Bankrate.com to assess the best places for young adults to start a career can apply to adults further along the career path, says Claes Bell of Bankrate.com.

Free college tuition

When New York introduced its Excelsior Scholarship program in April 2017, it joined Oregon and Tennessee in providing free tuition for college. 

Smartphone as your ATM card

Banks are rolling out technology that allows consumers to withdraw cash from ATMs by using their smartphone rather than a debit or credit card. 

Credit score changes

Credit bureaus Equifax, Experian and TransUnion no longer include information about tax liens and civil judgments in their credit report unless it includes a person’s name, address and either the person’s Social Security number or birthdate.

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.

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. 

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.