Advertisements touting reverse mortgages often leave older consumers confused about the loan terms and unaware of the risks, according to a new report from the Consumer Financial Protection Bureau.
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.
Recent research shows that most African Americans/blacks age 50-plus use financial products, such as checking accounts and savings accounts. But only 1 in 10 use retirement planning products, such as a 401(k) plan or individual retirement account (IRA). Millions of Americans haven’t saved any money for their golden years, and millions of others haven’t saved nearly enough. According to the Federal Reserve, the median balance of retirement accounts totals less than $60,000, and many African Americans/blacks have saved even less.
Borrowers struggling to repay private student loans say they have little choice but to default because lenders won’t revise payments to make them affordable, according to a new report by the Consumer Financial Protection Bureau.
Parents who've taken out federal student loans to help pay for their children's college education are increasingly finding themselves in serious financial trouble. Default rates on Parent PLUS loans have tripled in the last few years, according to federal data released this month.
Pharmaceutical companies make lots of money and spend lots of money, including lavish payments to doctors for consulting; expenses-paid conferences, cruises and other events for doctors; and bonuses for sales reps who exceed sales targets, even if that means pitching a drug for uses the Food and Drug Administration hasn't approved.
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