Consumer Agency May Clamp Down on Payday Lenders

The Consumer Financial Protection Bureau (CFPB) is proposing new rules to restrict high-cost payday and car-title loans that often leave borrowers in worse financial shape. The agency can’t do anything about the interest rates charged — that’s up to the states — although it does have the authority to regulate the lenders making these loans. “Too many short-term and longer-term loans are made based on the lender’s ability to collect and not on a borrower’s ability to repay,” CFPB Director Richard Cordray …

AARP Member Leads Effort to Stop Neighbor’s Eviction

Sometimes it takes a village to help a neighbor, and retiree Robert Bennett is mighty grateful for folks in his town on the banks of Maryland’s Chesapeake Bay. A resident in Bennett’s Annapolis community, situated between Baltimore and Washington, D.C., recently raised $15,000 in six days through an online GoFundMe campaign to help him stay in his home. Bennett was threatened with foreclosure if he didn’t come up with $13,000 by the end of this month to pay back taxes and insurance. Read: …

Where to Stash Your Cash This Spring

If you want to make a hundred bucks or even thousands for just an hour of your time, then this post is for you. All you have to do is pick the right place to stash your cash and perhaps change your thinking on certain certificates of deposits (CDs). Read on, and you’ll see that CDs which appear too good to be true really do exist. The power of inertia often has us leaving large sums of cash at our local …

Wanted: Your Best Tips for Saving Money

We all have ways of saving a buck — maybe a lot more — through savvy shopping or careful planning. Perhaps you picked up these moves over the years; maybe you just learned about them. Whether your tips are old or new, we want to hear about them, to share with other readers. We’re looking for savings for the home — from the kitchen to the garden — on health care, beauty, fashion, home decorating and personal technology, as well as travel and entertainment. Please …

Are You a Saver or a Spender? Find Out Why

What makes one person focus on saving for his or her future, while another is totally oblivious and winds up hopelessly in debt? It turns out that our relationship with money is much more complex than we think. Debunking conventional wisdom In the 1996 best-selling book, The Millionaire Next Door, authors Thomas Stanley and William Danko revealed some little-known behaviors of the majority of millionaires. While millionaires, of course, were often high income earners, they were also hoarders who rejected the big-spending lifestyle. They tended to …

Need Cash? IRS Has $1 Billion in Unclaimed Refunds

Here’s a time you want to hear from the IRS. The agency has $1 billion in unclaimed refunds belonging to about 1 million people who didn’t file a 2011 tax return. The IRS holds the money for three years, after which it goes to the Treasury Department. Time is running out for 2011 refunds to be recovered by taxpayers. See how Life@50+ can affect your life – Register today » “Some people may not have filed because they didn’t make much money, but …