Since everyone is online more during the pandemic, there’s an increased urgency about fixing computers if there’s a problem. Scammers, as always, are lurking around just looking for a new opportunity to strike. They’re offering even more phony tech support services.
The Chamber of Commerce is lobbying to oppose tougher enforcement at the Federal Trade Commission because its ranks are filled with corporate wrongdoers, a Public Citizen report says. The 111 known Chamber member corporations have violated state and federal laws 15,896 times with fines of $154 billion since 2000.
Many Americans lack financial literacy. Moreover, regardless of their financial wealth, many Americans also aren’t as happy as they could be … lacking what one of our reviewers defined as “life literacy.” We wrote “Your Total Wealth: The Heart and Soul of Financial Literacy” because of these two reasons.
Consumers are continuing to face tremendous challenges in this, the second year of the coronavirus pandemic. I could probably write an article on 10 ways the pandemic affected people financially. I just hope it will end soon instead of continuing to drag on and on.
Regulators are taking a look at five companies offering the fast-growing “buy now, pay later” credit. Orders to collect information on the risks and benefits of these loans went to Affirm, Afterpay, Klarna, PayPal, and Zip.
In its role to check on financial institutions, the Consumer Financial Protection Bureau found that some violated federal law in the first half of 2021. “Today’s report reveals that irresponsible or mismanaged firms harmed Americans during the COVID-19 pandemic,” said CFPB Director Rohit Chopra.
Banks continue to rely heavily on overdraft revenue, which reached an estimated $15.47 billion in 2019, according to the Consumer Financial Protection Bureau. Three banks – JPMorgan Chase, Wells Fargo, and Bank of America – brought in 44 percent of the total in 2019 by banks with assets over $1 billion.
It’s that time of year again. Advertisements for Medicare Advantage plans are flooding my mailbox and email. I’m even getting phone calls about the plans. And, every time I turn on the TV, there’s another ad about Medicare Advantage, with infomercials to be tolerated, too.
It’s a big problem. Companies promising to help with student loan debt advertise widely, using misinformation and high-pressure sales. However, consumers need to know that there’s nothing a student loan debt relief company can do for them that they can’t do for themselves for free.
