Today AARP submitted a letter to the Consumer Financial Protection Bureau (CFPB) commenting on the agency’s proposal to regulate the payday lending industry. For years, many of AARP’s state offices have engaged their state legislatures and governors to secure consumer protections for Americans who find themselves in need of the small-dollar loans that the payday industry offers.
Fraud is a growing problem across the U.S., with more than 1.2 million fraud-related complaints reported to the Federal Trade Commission’s Consumer Sentinel Network (CSN) in 2015 alone. Among those complaints, a total of $765 million was lost by consumers who fell victim to scams, according to CSN’s February 2016 data book.
We all rely on advice — from friends, family and, at times, complete strangers. Sometimes you get good advice and other times you get advice that is not in your best interest. But if you get advice from a professional like a doctor, a lawyer or a financial professional, you should be able to rely on knowing that it will always be in your best interest.
You probably wouldn’t take investment advice from someone whose business card said Retirement Wizard, but it is not always so simple to spot a fake credential. You may find it harder to tell the difference between a Certified Advisor for Senior Investing and a Retirement Income Planning Specialist.
For everyone who hates getting automated robocalls on their phone or spam text messages, the Federal Communications Commission has gotten the message.
Millions of consumers may not be getting a fair resolution in disputes with their financial institutions over products and services, according to a report released Tuesday by the Consumer Financial Protection Bureau.
What are the early warning signs of dementia? That’s a question professionals who work in the financial services industry have increasingly asked me since AARP released a report, entitled Protecting Older Investors: The Challenge of Diminished Capacity, on protecting investors who have diminished capacity. The report raised awareness among many financial professionals concerned about the decision-making capacity of their clients.
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