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Labor Department finalizes rule tightening retirement savings advice

Millions of workers who are saving for retirement and rely on advice from professionals on how to invest their savings will be better protected under a new rule finalized Monday by the U.S. Department of Labor. The Retirement Security Rule, also called the Fiduciary Rule, updates the definition of an investment advice provider. Read more →


After winter storms, watch out scams

Winter is far from over with heavy rains causing extensive damage in California and Nevada this week. At least three people died from fallen tree incidents in northern California on Sunday and more than 200,000 households remained without power Monday night. Dealing with the aftermath of flooding, wind damage, or other storm destruction isn’t easy. Read more →


Beware: Ozempic and the other new weight-loss drugs have problems

The medical community and consumers are excited about the new injectable weight-loss drugs, such as Ozempic and Wegovy. The drugs suppress appetite and slow digestion. Celebrities, including Orpha Winfrey, are taking the drugs. Most doctors and health care providers like to have a pill or shot that will fix patients’ problems. Read more →


At last: Biden administration takes action on prescription drug price gouging

About 50 percent or more of price increases driving recent inflation is caused from price gouging. On Thursday, finally, President Biden called out the pharmaceutical industry for raising prices too much. Dozens of pharmaceutical companies will be required to pay rebates to Medicare for outrageous price hikes on prescription drugs. Read more →


Free credit reports now permanently available each week

Equifax, Experian, and TransUnion – the three national credit reporting agencies – are permanently extending a program that lets you check your credit report at the agencies once a week for no cost. Visit AnnualCreditReport.com to request free copies of your credit reports, the Federal Trade Commission advises. Other sites may charge you or be fraudulent. Read more →


Are you and your home as safe as they can be from fires?

Today is the last day of Fire Prevention Week. I almost didn’t write anything because it upsets me so much every time I learn about a death in a fire. I’ve been writing about it for years. And, I’m not the only one. Still, deaths keep happening. From 2012 to 2021, the 10-year trend in the fire death rate per million population increased 18 percent in the United States. Read more →


How to get fair insurance treatment after Hurricane Idalia

Policyholders are entitled to receive their claims payments under the terms of their insurance policies, and insurers shouldn’t delay or mistreat consumers. Many victims of Hurricane Idalia will be underinsured and uninsured for flood damage. There will be big fights over whether the damage was caused by wind versus flooding. Read more →


What to do when your home owners insurance is canceled or jumps in cost

Storms across the country brought on by climate change are causing havoc. You may have received a notice from your insurer dropping your home insurance policy. Or, surges in the cost of your coverage can put a strain on your budget especially with inflation. This is stressful as not having the right insurance can make your home difficult to sell. Read more →


Drivers with good driving records and poor credit scores are charged much more for auto insurance, report shows

Consumers with poor credit pay hundreds or even thousands of dollars more every year for basic auto insurance coverage required by state laws, new report shows. On average, a consumer with poor credit has to pay twice as much for auto insurance as a driver with excellent credit, even if everything else, including their driving safety history, are the same. Read more →


USASF Servicing illegally disabled vehicles and double-billed consumers, financial agency charges

USASF Servicing is being charged with illegal practices that harmed consumers with auto loans including disabling vehicles, improperly repossessing vehicles, double-billing for insurance premiums, and failing to return millions in refunds, according to a lawsuit. The CFPB is seeking to return money to consumers, impose penalties, and stop future violations. Read more →