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Senior Editor, Money Team

Eileen Ambrose

Biography:

Eileen Ambrose is a senior editor and writer for the Money Team. She previously was a personal finance columnist with the Baltimore Sun.

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Eileen Ambrose'sPosts

Regulators Fine Bank for Overzealous Credit Protection

Posted on 04/15/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsBank of America is the latest major financial institution ordered to refund millions of dollars to consumers who were billed for credit card-related products they never ordered – and likely didn’t even need. Indeed, the credit and identity-theft protections sold by the North Carolina-based bank are things that people can do on their own for little or no money, consumer advocates say. The Consumer Financial Protection Bureau ordered the bank last week to return $727 million to nearly 3 million …

It’s Tax Day! Don’t Forget to File

Posted on 04/15/2014 by | Senior Editor, Money Team | Comments

Money & SavingsIf you’re rushing to get your taxes done before today’s midnight deadline, take some comfort that you’re not alone. The Internal Revenue Service expects to receive about 35 million returns in the last week or so before the filing deadline. At this point, the time for most moves to lessen your tax bite is long over, although even on this deadline day you may have one more opportunity. It’s still possible to make a 2013 contribution to a deductible individual retirement …

Social Security Halts Refund Grab to Recover Old Debts

Posted on 04/11/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsUpdate: The Social Security Administration says it will immediately stop collecting old debts by grabbing taxpayers’ refunds. In a statement, Carolyn W. Colvin, the acting commissioner of the agency, says: “I have directed an immediate halt to further referrals under the Treasury Offset Program to recover debts owed to the agency that are 10 years old and older pending a thorough review of our responsibility and discretion under the current law to refer debt to the Treasury Department. “If any Social Security …

Medicare Patients Now Can Do a Check-Up on Doctors

Posted on 04/9/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsIn a major data release this morning, Medicare shared information on $77 billion in payments to more than 880,000 health care providers. Consumers for the first time can look up doctors, find out the number of procedures they have performed and how much Medicare paid. This is one piece of the puzzle for determining the overall value of care being delivered. The information, from 2012 Medicare Part B payments, already has generated some eye-popping articles, with reports of one Florida ophthalmologist receiving …

Same-Sex Couples Still Waiting for Equal Treatment

Posted on 04/8/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsThe U.S. Supreme Court ruled the law that prevented same-sex spouses from enjoying federal benefits was unconstitutional nearly a year ago, yet the financial repercussions for these couples are still being worked through. Federal agencies have been updating their regulations to comply, and some have moved faster than others. And even among agencies that have acted, how they handle same-sex marriage differs. The IRS, for instance, says same-sex spouses now must file federal returns as joint filers or as married …

Pension Plan Tweak May Elude Most

Posted on 04/2/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsThe federal agency that insures private pensions is proposing a rule change that would add greater protection for workers who roll 401(k) money into a traditional pension. Workers for years have been able to transfer money from their employer’s 401(k) to its traditional pension plan to buy themselves a bigger lifetime benefit — if the employer allowed it. The Pension Benefit Guaranty Corporation says its new proposal will remove fear among these workers that the amount they roll over from …