The game’s afoot. The financial industry is beginning its stealth attack on financial reform. First up: The single speck of potential investor protection that sneaked into the new law.
If activated, the change could push brokers, planners and insurance agents toward selling their clients better investments than they might be recommending now. That happy outcome, [...]
Archive for 2010
- Life insurancy payouts: Are you earning enough on the money?
- POSTED 08.31.10
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 [...]
- Lower Fees on Mutual Funds? Yes, If the SEC Has Its Way
- POSTED 08.27.10
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 [...]
- Credit card interest rates rise but that’s a good thing
- POSTED 08.24.10
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, [...]
- Debit card overdrafts: How the banks still cheat
- POSTED 08.20.10
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 [...]
