One of the best consumer actions in recent years is the creation of the Consumer Financial Protection Bureau in 2011. Established after the Great Recession of 2007-08 to set up one federal agency to help consumers with their financial issues, the CFPB has made great strides in improving the position of consumers in the marketplace. Read more →

In 2022, Americans paid more than $120 billion in interest and fees on credit cards. With interest rates going up, that amount is continuing to increase. For consumers to get the best offers on credit cards to keep their costs down, their repayment records need to be reported to credit bureaus. Read more →

How do you pick out a bank? It’s more difficult than it seems. Many people choose a branch near them. But, banks can have practices that are detrimental to consumers who want to spend money wisely. The Federal Deposit Insurance Corporation or FDIC has downgraded Transportation Alliance Bank or TAB Bank to “needs to improve,” a low rating that few banks get. Read more →

I’m now a T-Mobile customer. Darn. I switched because I was upset that Verizon wouldn’t give me a deal on a new iPhone and I wanted to be in a family plan with my grandson from Spain who’s going to college in Massachusetts. T-Mobile announced last week that its customer records have been hacked again. Read more →

I’ve written about it before, but it’s worth highlighting again. A Consumer Reports evaluation of peer-to-peer or P2P payment apps found that users could lose money to fraud or scams and face privacy risks because app providers may share their personal information widely and it’s difficult for users to delete their data. Read more →

Financial writers recommend when you’re having money problems that you review your subscriptions. Sometimes subscriptions that you aren’t using keep renewing or you didn’t realize you had one. “Negative option” programs include subscription services that automatically renew, and trial marketing programs that charge a reduced fee for an initial period. Read more →

Have you been frustrated because you’ve wanted to repair your electronics or appliances or find a less expensive place for repairs to be made other than through the manufacturer? Eighty-four percent of Americans said they agreed with a policy to require manufacturers to make repair information and parts available either to independent repair professionals or to product owners.. Read more →

My best wishes to you and your loved ones for 2023. On New Years eve, I wrote about the top consumer and personal finance stories of 2022. Inflation and higher interest rates topped the list, and I predict that those two issues will continue to confront consumers throughout the new year. My recommendations include: Read more →

It’s time for my annual article on the top consumer and personal finance articles of the year. As usual, there aren’t many reporters covering this important topic. However, in addition to the best news, health, political, and science stories of the year, there’s a new category: the top climate change stories. Read more →

Wells Fargo is at it again. It shows why consumers should be skeptical about trusting big banks. The repeat offender has agreed to a settlement that requires it to return more than $2 billion to consumers and pay a $1.7 billion civil penalty for legal violations across several of its largest product lines, the CFPB said Tuesday. Read more →