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Mobile Financial Services Show Promise, But Consumers Need To Be Assured Of Protections, CU Says In Comments

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Mobile financial services may provide consumers lower-cost, more convenient ways to manage their money but lawmakers, industry and regulators need to step-up to ensure adequate consumer protections, we told the Consumer Financial Protection Bureau (CFPB) in response to the CFPB’s Request for Information Regarding the Use of Mobile Financial Services by Consumers and Its Potential Continue Reading

Posted by Christina Tetreault in Banking, CFPB, Mobile, Payments | No Comments »

CFPB Working for You: Safeguarding Soldiers from Financial Harm

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Members of the armed forces face major obstacles in keeping their finances in order. Many soldiers are stationed abroad and rely on family members to keep track of their money. Others living on military bases in the United States are often the targets of predatory lenders pushing pricey loans. Cammie of Columbus, Ohio became the Continue Reading

Posted by Maureen Mahoney in CFPB | No Comments »

It’s Time for Student Loan Servicers to Clean up Their Act

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Are you currently paying back your student loans?  If so, have you ever had problems dealing with the companies – called “servicers” – that process loan payments, provide customer service, and keep track of your paperwork? Well, whether or not they’re helping you, they’re still getting paid – by the federal government.  The Department of Continue Reading

Posted by Suzanne Martindale in Credit, Student Loans | No Comments »

Bigger Than Target? What To Do NOW If You Shopped At Home Depot

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If  you shopped at a Home Depot store between April 2014 and now, you may be at risk. The retailer confirmed earlier this week that it suffered a massive data breach. It appears that crooks have stolen shoppers’ payment card and personal information, which means that shoppers at its stores in the U.S. and Canada Continue Reading

Posted by Christina Tetreault in Credit Cards, Payments, Security Breaches, Security Freeze | No Comments »

CFPB Working for You: Promoting On-the-Job Financial Education

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Many companies have smoking cessation or weight loss programs to improve their employees’ health. Now, a new report from the Consumer Financial Protection Bureau (CFPB) is calling for businesses to take a new step – to help improve their employees’ financial wellness. According to the CFPB, many Americans are so worried about money that it’s Continue Reading

Posted by Maureen Mahoney in CFPB | No Comments »

Outsmarting Thieves: Cutting Theft with a Smartphone Kill Switch  

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Smartphone thefts are out of control.  According to San Francisco’s District Attorney, such theft is a major problem in big cities—over fifty percent of the robberies committed in San Francisco, for example, are of mobile devices. How to remedy this? If you want to outsmart a thief, you have to think like one.  How do Continue Reading

Posted by Norma Garcia in Mobile, Privacy, Uncategorized | No Comments »

CFPB Working for You: Helping Young People Make Smart Financial Decisions

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It’s back to school time, and parents and kids are gearing up for a new year. But while kids may be getting great instruction in math, science, and writing at school, they don’t usually learn basic skills like how to manage a checking account or credit card. As the Consumer Financial Protection Bureau (CFPB) points Continue Reading

Posted by Maureen Mahoney in Banking, CFPB | No Comments »

CFPB Targets Auto Lender for False Credit Reports

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An estimated one out of every five Americans has a mistake on one of their credit reports, which have sadly become an all-too-frequent occurrence for consumers. But the Consumer Financial Protection Bureau (CFPB) is working to change that: it’s rebuking an auto lender for reporting faulty information to the credit bureaus for years. On Wednesday, the Continue Reading

Posted by Maureen Mahoney in CFPB, Credit, Credit Reports | 1 Comment »

UPS Ooops?! New Data Breaches Announced

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What You Should Do Now If Your Data Was Compromised Hot on the heels of the hospital security breach we commented on yesterday, shipper United Parcel Service (UPS) today announced that customers data – including credit and debit card numbers, and email and postal addresses  – was stolen from as many as 50 UPS stores. Continue Reading

Posted by Christina Tetreault in Credit Cards, Payments, Security Breaches | No Comments »

Banks Fight Claims They Have “Secretive” Contracts with College Campuses

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Are you or someone you know preparing to go to college?  If so, you many find banks and other financial firms offering you student accounts for getting your financial aid or managing your money.   That’s because more and more colleges are entering into agreements with these firms to sell products to students on campus. The Continue Reading

Posted by Suzanne Martindale in Banking, Payments, Prepaid Cards, Student Loans | No Comments »