Did you get a payout from a life insurance policy? Is it sitting in a special checking account provided by the insurance company?
A class action lawsuit, filed recently and amended today, slams the Prudential Insurance Company of America for taking financial advantage of beneficiaries. Pru earns 5 to 6 percent on that money, the complaint [...]
The Securities and Exchange Commission is preparing to break the high fixed prices you pay in sales charges when buy and sell mutual funds. It wants to clear the way for discount brokers to offer funds at a lower cost.
To that end, the commission put out a sweeping proposal earlier this month, to change the [...]
I’m about to annoy you. You hate the fact that banks have been raising interest rates on credit card balances. By the rules of competition, however, the rise in visible costs will turn out to be a good thing. Fees you can see will eventually go down.
You’ve been paying high costs for credit right along, [...]
Are you thinking of signing up for “courtesy” overdraft protection linked to your debit card? Hold off, until you’ve read this column. Those fees are protection, all right — a protection racket. A federal district judge, who examined the way the giant bank, Wells Fargo, handles debits, called the practice “gouging [...]
Just say no, when your bank or credit union asks if you want “courtesy” noverdraft protection for purchases made with your debit card. This so-called service damages your finances and handed the banks $37.1 billion in fees last year, Moebs $ervices reports. Most of that money was drained from the accounts [...]
