The car owners who are least able to afford high auto insurance rates are getting charged the most for coverage, according to a consumer watchdog group.
Oil market speculation will cost U.S. households more than ever in 2011, a consumer group predicts, and the drain on household incomes will increase unless government rules to curb it are imposed.
Medical debts that you paid off long ago can drag down your credit score for years after you've settled them. But recently proposed legislation could mean old doctor bills will finally be erased from your credit report.
Popular new technologies and services -- like daily group deals and wireless TV services -- also come with new frustrations. And consumer agencies are hearing all about them.
With the economy still in shambles and many Americans still struggling to emerge from debt, find jobs and support their families, there's plenty to complain about. Add fraud and predatory lending to the mix and the list of complaints gets even longer.
With commodity prices still rising -- both gold and silver have notched sizable gains this year -- your precious possessions may be due for an insurance upgrade.
The banking industry and the Federal Reserve are about to do battle. And they're squaring off over 12 cents.
Many Americans will cautiously spend as much or more this holiday season than they did last year despite weak labor markets, economic uncertainty and heavy debt loads, according to a joint national poll on consumer spending and saving attitudes released Monday by the Credit Union National Association and Consumer Federation of America.
The federal government is looking to raise corporate average fuel economy requirements to something between 47 and 62 miles per gallon by 2025, according to documents released Friday by the National Highway Traffic Safety Administration and the Environmental Protection Agency.
Press 1 if you're delusional enough to think that the customer service rep you just spoke with actually gives a damn about your $5,000 cellphone bill, your exploded microwave or cancelled-without-notice flight.
Landlords who won't exterminate roach-infested apartments. Debt collectors' harassing phone calls. Companies that sell timeshares for a fee -- then disappear with the money.
Question: I'm 29, make about $260,000 a year and am thinking about purchasing a house. I was approached by a financial adviser who wants me to invest in an equity indexed universal life insurance policy, which he called a "surefire" way to develop a sizable nest egg that grows tax-free and can also be tapped tax-free via a loan. He suggested that I purchase a house using an interest-only mortgage, which would have lower payments than a regular mortgage, and then invest the difference into the life insurance policy. He also suggested I take out a home equity line of credit on the home and invest the loan proceeds in the insurance policy. He threw around claims like "do what the banks do" and "make money off of borrowed money." I would like to get an unbiased second opinion, so any advice you could give would be greatly appreciated. --Randolph, Northampton, Mass.
Congress is trying to crack down on Wall Street firms to eliminate the threat of a future financial meltdown.
1. It's more coverage than most people need
Millions of low and middle-income Americans don't have a savings account, but a group of large banks and consumer advocates kicked off an effort Thursday to change that.
Thousands of Americans learn a painful lesson in banking every day: Waiting for a check to clear and then getting access to the money from a bank doesn't mean the check has really cleared.
Thousands of Americans learn a painful lesson in banking every day: Waiting for a check to clear and then getting access to the money from a bank doesn't mean the check has really cleared.
Question: I'm 36 and make about $130,000 a year. My wife stays at home and cares for our three young boys. For about nine years, we have been paying into a variable universal life insurance policy that has a $250,000 death benefit and a cash value of about $3,000. My agent now wants me to move into an index universal life policy with a death benefit of $500,000, which would increase my payment by $200 a month. I have read that this type of insurance may not be right for my family. What do you recommend? ---Eric, Pleasanton, Calif.
Librarians across the United States are making noise about new federal restrictions on lead that could take books out of the hands of children.
Cash-strapped consumers got some welcome news on Thursday when regulators voted to rein in controversial credit card practices. But they'll have to wait another year and a half to get relief - the new rules won't take effect until July 1, 2010.
Cash-strapped consumers might get some welcome news on Thursday when regulators vote to rein in controversial credit card practices.
Consumer spending is expected to decline sharply during the 2008 holidays due to constrained budgets and financial anxiety about the future, according to a survey released Monday.
Cash advances are not a new concept in America's brand of capitalism. Many people have seen the commercials with some guy barking out, "Bad credit, no credit, no problem!" Or, "Don't worry about credit, I own the bank!"
Terry Read transferred $400 into his wife's checking account on a Friday. Over the weekend, his wife used her debit card to make some small purchases, and on Monday she was slammed with a $35 overdraft fee because his cash transfer hadn't cleared yet.
Washington policy makers and housing industry insiders hope a new tax credit for first-time home buyers will get the moribund housing market moving again.
Americans don't understand debt, which may be one reason that they have too much of it, according to a survey released Tuesday.
More than a third of American consumers said they will spend less this holiday season and cited rising energy costs as the main reason, according to a report released Monday.
Right now, thousands of dislocated Southern California homeowners are fretting about the fate of their residences, but the biggest headaches could come months after the wildfires ravaging the area are extinguished.
No matter how you heat your house, this year will cost you more than last, according to a government report Tuesday.
Cash advances are not a new concept in America's brand of capitalism. Many people have seen the commercials with some guy barking out, "Bad credit, no credit, no problem!" Or, "Don't worry about credit, I own the bank!"
In the next five years, 1.4 million Americans will see their mortgage payments more than double. Already, half a million homeowners are 90 days behind on their payments. Foreclosure rates are up 30 percent from 2006.
Despite losing sales to Japanese car companies, auto manufacturers, particularly U.S.-based manufacturers, have been slow to respond consumer demands for better fuel economy, according to a report released Tuesday by the Consumer Federation of America.
» When Jacqueline Epcar of Valley Glen, Calif. turned 19 last year, she no longer qualified for coverage on her parents' health plan. So her mother, Ellyn, signed her up for a new individual policy...
Are insurers more hard-nosed with claims than they used to be?
Question: My wife and I are 28 years old and have both recently completed graduate degrees in medicine and law. We live well, but within our means and over the past year have been able to save 17 percent of our combined income.
Mary Alice and José Martín's bungalow survived Katrina - but got hit in June. That's when Allstate informed the couple that their home, a mile from the glistening Gulf of Mexico, would no longer be...
Consumer groups are criticizing a Federal Reserve report that found credit card issuers are not offering credit to consumers "indiscriminately," according to a published report.
A leading consumer rights group, the Consumer Federation of America (CFA), on Monday issued a report charging that real estate industry members act as a cartel to stifle competition, resulting in higher prices and poorer service for homebuyers.
What careers/companies might consider older people? - Megan
• WHAT IT IS That statement Social Security sends you three months before your birthday estimating your future monthly retirement benefit
NEW YORK (CNNMoney.com) - The Consumer Federation of America held a press conference Monday to announce that you can save money on fuel each year by choosing vehicles carefully.
Consumers could save a nice chunk of change at the pump just by choosing carefully at the dealership, a consumer protection group said Monday.
Homeowner premiums jumped by a third between 2001 and 2004, according to J.D. Power & Associates. So you'd think you could get more love, right? Wrong. You're paying not for service but to make up ...
When it's time to renew your car insurance, don't automatically sign up with your old insurer: You may miss a chance to save. You can shop multiple insurers at insweb.com, but major players like Al...
The real problem in real estate transaction costs is greater than what's happening on Aquila Lane.
When it's time to renew your car insurance, don't automatically sign up with your old insurer: You may miss a chance to save.
Homeowner premiums jumped by a third between 2001 and 2004, according to J.D. Power & Associates. So you'd think you could get more love, right?
Attention homebuyers: getting approved for those popular non-traditional mortgages may be a lot more difficult in the near future.
s they can wean consumers off incentives over the long run. Fact is, though, the '05 models that GM wants to unload before the redesigned '06s come out aren't worth more just because the "employee pricing" program ended Aug. 1. Push for the same deal. And remember: If a low monthly payment is your goal, a rebate helps (especially on big SUVs or pickups, where discounts continue to hit $10,000). But depreciation starts at the price you paid, not the list price. So you lose at resale time. ...
If you're looking for a loan, it's a very scary time. Interest rates are on the rise and with them, mortgage delinquencies are increasing.
Q My adviser wants us to invest our money in a variable life insurance plan, where we can avoid taxes. Would it be better to buy term life insurance and invest in mutual funds? --Jason Keck, Three ...
After Hurricane Charley pounded the Florida coast 15 months ago, Kay Peebles and her husband Bill were left cleaning up the mess as a large oak tree plowed into the roof of their home and 40 other uprooted trees littered their lawn.
Feeling nervous about real estate prices? Who can blame you? Even if you haven't bought or sold lately, the constant debate over whether or not there's a housing bubble is probably making you uneas...
Feeling nervous about real estate prices? Who can blame you? Even if you haven't bought or sold lately, the constant debate over whether or not there's a housing bubble is probably making you uneasy.
NEW YORK (CNN/Money) - The brutal distress of the nearly one million people affected by Hurricane Katrina may be compounded for those victims who could face bankruptcy in the coming months.
GM has started chopping sticker prices rather than continuing a charade of discounts to bring in customers. (Expect Ford and Chrysler to follow.) The car makers hope that as they retool their lines...
After Hurricane Charley pounded the Florida coast last August, Kay Peebles and her husband Bill were left cleaning up the mess as a large oak tree plowed into the roof of their home and 40 other uprooted trees littered their lawn.
After Hurricane Charley pounded the Florida coast last August, Kay Peebles and her husband Bill were left cleaning up the mess as a large oak tree plowed into the roof of their home and 40 uprooted trees littered their lawn.
These days you can insure just about anything--your pets, your wedding, even your own identity. While consumer experts usually advise against buying specialty insurance, because the price is too hi...
Your credit score, or FICO score, is arguably one of the most important pieces of information in your financial life.
Your credit score, or FICO score, is arguably one of the most important pieces of information in your financial life.
There is a lot going on right now that could affect your credit.
Auto dealers financing cars through a division of Ford Motor Credit have been discriminating against African-American and Hispanic customers by charging them higher interest rate mark-ups than others, according to an announcement by the Consumer Federation of America.
The Consumer Federation of America has warned borrowers about the costs and risks of using Internet payday loan sites that make relatively small loans to consumers for short periods of time.
The Check Clearing for the 21st Century Act, otherwise known as the "Check 21" law, went into effect Thursday.
If you've ever dreamed of adding that master suite or converting your basement into an entertainment center, now may be the best time. That's because contractors -- who are much in demand in the spring and summer -- usually have far fewer jobs in the fall.
Late last year, Congress passed amendments to the Fair Credit Reporting Act that should help consumers battle fraud and identity theft. Among your new rights: You will be entitled to one free credi...
NEW YORK (CNN/Money) - Households headed by women who are unmarried or not living with a partner have far fewer financial resources than the average U.S. household, according to a study released Monday by the Consumer Federation of America.
From Washington... Uncle Sam wants to help you! That's the main message of the corporate-fraud legislation that breezed through Congress in July (see "D.C. Gets It Almost Right" in First). With acc...
Among life's most unsettling tasks, shopping for life insurance undoubtedly ranks in the top 10. But the awful events of Sept. 11 have given that often-postponed chore a new urgency. In the weeks s...
Reader Dave DesRoches writes from Massachusetts: "Wonder if you could comment about financial planners. I've been fortunate enough to accumulate some stock options over the past few years from my e...
Although there are no statistics on the prevalence of identify theft, experts say that the fraudulent use of names, Social Security numbers or credit cards is on the rise. What's certain is that ma...
We understand why you almost certainly don't spend a lot of your spare time pondering life insurance. Unlike auto or homeowners insurance, nobody makes you maintain it, so it's easy to neglect. If ...
Let's face it: We could all use some help when it comes to managing our finances. Saving for college while building a nest egg doesn't leave much wiggle room to rebound when the Dow drops 500 point...
You may not have trouble deflecting aggressive pitches for the latest specialty insurance. (Ransom reimbursement insurance? Now really.) But consumer advocates and industry experts advise skepticis...
This may be a tricky time to buy a car, but it's a great time to insure one. Heightened competition among auto insurers, coupled with safer driving and fewer claims, means rates are dropping. Recen...
Chances are slim that your house will burn to the ground or blow over in a hurricane. But if the unlikely happens, at least you know your insurance company will make you whole no matter the cost, r...
What prevents millions of American families from attaining their financial goals? They fail to write them down, says Gerri Detweiler, financial lecturer and author of The Ultimate Credit Handbook (...
A bloated fly buzzes around your head as the wall clock interminably ticks away the minutes. On the couch sits the insurance salesman--a hint of Binaca on his breath--who drones on about many meani...
Life insurance agents often say the cash-value portions of whole life and universal life policies offer great tax-sheltered investments. But a new study by the Consumer Federation of America, relea...
If you are among the record 2.9 million motorists whose auto leases expire this year, you may want to consider buying that car. You would have plenty of company: The proportion of people purchasing...
It's the time of year when belts are getting tighter all over America--both literally (as in too many helpings of holiday fruitcake) and figuratively (as in how are we ever going to afford the Chri...
Some 51 years ago, while the public was preoccupied with winning World War II, Congress passed a seemingly benign law giving insurers one of the sweetest deals in U.S. financial history. Instead of...
"It used to be that when people spilled coffee on their pants they said, 'Oh, how clumsy of me.' Now they say, 'I'll sue!'" That on-the-money insight comes from Emmett Vaughan, author of Fundamenta...
The dozen or so insurers that sell travel coverage are flying high these days. Sales of travel policies, which cover everything from lost luggage to a canceled trip, are running an estimated $250 m...
This spring, you may have seen full-page newspaper ads by the American Bankers Association promising "better prices and wider availability of insurance," thanks to a recent Supreme Court decision t...
Want to trim the cost of your auto insurance by one-fifth? Smart, aggressive shopping will do it. Indeed, Americans are now so savvy about shopping for policies that auto premium increases have eas...
If you're being pressured by a life insurance agent to replace your cash-value policy with a new one, think twice before you switch. While it may make sense to swap your whole life, variable or uni...
With bankers aggressively raising fees (see above) and pushing a bewildering array of financial products, doing business with a bank has become increasingly expensive and complicated. MONEY writer ...
As Banking Scorecard has been telling you, and a new study confirms, bank fees are skyrocketing. According to the research released in June by the Consumer Federation of America (CFA) and the U.S. ...
Failing to protect yourself and your family against serious financial loss is a huge mistake. Still, though it's not as potentially ruinous, overinsuring is a gross error too. The cost of buying bo...
Ron Sladon Sr., 63, of Lexington, Ky. (below) learned his car insurer wouldn't renew his policy after he recently filed $2,500 in claims for two accidents -- neither of which were his fault. ''I wa...
Pop quiz: What's the least costly time to make a long-distance call? If you're not sure, you've got company. According to a new survey of 500 Americans in 10 cities by the Consumer Federation of Am...
Any reputable financial planner should be willing to respond fully to the following 10 questions. If you don't like what you hear -- or if the person refuses to co-operate -- move on immediately. B...
JEROLD AND JUDITH STARR, SHOWN AT RIGHT, DIDN'T run with the borrow-and-spend crowd in the crazed '80s. ''We practiced the conservative values the politicians say are good for our country,'' says J...
A surprising new study by the Consumer Federation of America (CFA), a private advocacy group, suggests that the 6% to 7% sales commissions most home sellers today routinely pay to real estate agent...
Quick. What kind of life insurance policy: 1) Pays out an average of only 38 cents to beneficiaries -- and in some states, as little as 17 cents -- for every $1 of premium you pay, compared with 83...
The Consumer Federation of America has just uncovered an unusually deceptive tactic used by a number of U.S. banks to overstate rates it pays on interest- bearing checking accounts. Take, for examp...
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