Speech on Economic and Financial Inclusion by Governor Sarah Bloom Raskin

Fed Governor Sarah Bloom Raskin

Federal Reserve Governor Sarah Bloom Raskin delivered a speech about her vision of economic inclusion at yesterday’s “Rebuilding the Road to Financial Stability“. The event was co-sponsored by the New America Foundation, Congressional Savings and Ownership Caucus and the Center for Financial Security at the University of Wisconsin-Madison.

. . . → Read More: Speech on Economic and Financial Inclusion by Governor Sarah Bloom Raskin

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More Information on Reverse Mortgages – FTC

A very nice, six-page printed brochure on reverse mortgages is available from the FTC.

Reverse Mortgages – Get the Facts Before Cashing in on Your Home’s Equity – March 2011

A few excerpts:

There are three types of reverse mortgages:

Single-purpose reverse mortgages – Offered by some state and local government agencies and nonprofit organizations.
Federally-insured reverse mortgages – Known as Home Equity . . . → Read More: More Information on Reverse Mortgages – FTC

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Resources Regarding Reverse Mortgages for Seniors – HUD

Reverse Mortgages for Seniors

Reverse mortgages are becoming very popular. Reverse mortgages are a special type of home loan that lets a homeowner convert the equity in his/her home into cash. They can give older Americans greater financial security to supplement social security, meet unexpected medical expenses, make home improvements, and more.

Unfortunately, scam artists have charged thousands of . . . → Read More: Resources Regarding Reverse Mortgages for Seniors – HUD

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Washington Times: Mickey Rooney’s greatest role

Great story in today’s Washington Times, Mickey Rooney’s greatest role, regarding his role as an advocate for elder abuse prevention.

Monday, June 27, 2011 – LifeCycles by Laurie Edwards-Tate

On March 2, 90-year-old actor Mickey Rooney testified before the Senate Special Committee on Aging in Washington D.C. He admitted that he had been a victim of elder abuse.

Rooney’s . . . → Read More: Washington Times: Mickey Rooney’s greatest role

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CFPB Posts and Updates

The CFPB added several new posts to their website this past week.

Here’s a summary for anyone that missed them and a link to the entire post on the CFPB website.

1. What is a nonbank, and what makes one “larger”? – A consumer inquired about the meaning of “nonbank” and which ones are considered “larger”. An explanation . . . → Read More: CFPB Posts and Updates

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Retirement Survey: Out of Work in America – Profiling the Unemployed and Underemployed

Out of Work in America – Profiling the Unemployed and Underemployed

The 12th annual Transamerica Retirement Survey was released this week.

From the reports Summary:

The Great Recession has witnessed high levels of unemployment. According to the Bureau of Labor Statistics, in 2010, there were nearly 15,000,000 who were unemployed representing an unemployment rate of 9.6 percent.

In order to . . . → Read More: Retirement Survey: Out of Work in America – Profiling the Unemployed and Underemployed

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Rebuilding the Road to Financial Stability: Understanding and Addressing the Savings and Credit Needs of Lower-Income Americans

Rebuilding the Road to Financial Stability

Understanding and Addressing the Savings and Credit Needs of Lower-Income Americans

Watch live online:

Wednesday, June 29, 2011 – 9:15am – 1:00pm (EST, so for those of us on the west coast, it begins at 6:15am, or you can join the second panel discussion at 7:45am)

Keynote speaker:

Governor Sarah Bloom Raskin
Board of Governors of . . . → Read More: Rebuilding the Road to Financial Stability: Understanding and Addressing the Savings and Credit Needs of Lower-Income Americans

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Study Released: Lack of Retirement Planning Among Gen X

If you’re like the majority of Americans aged 29-49 – the so-called Generation X – your thoughts about your financial futures are bleak, and your retirement planning has been spotty or non-existent at best.

This was the lead sentence for a press release announcing a new retirement study.

A study released yesterday by the Siena College Research Institute for eRollover.com, studied more . . . → Read More: Study Released: Lack of Retirement Planning Among Gen X

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Choosing a Credit Counselor – FTC

Fiscal Fitness: Choosing a Credit Counselor

Living paycheck to paycheck?
Worried about debt collectors?
Can’t seem to develop a workable budget, let alone save money for retirement?

If this sounds familiar, you may want to consider the services of a credit counselor. Many credit counseling organizations are nonprofit and work with you to solve your financial problems. But beware – . . . → Read More: Choosing a Credit Counselor – FTC

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Scams Against Immigrants – NCPW 2011

Today’s National Consumer Protection Week 2011 blog discusses scams that target immigrants seeking citizenship.

Avoiding Scams Against Immigrants

Show of hands: how many of you hire a tax preparer? Sure, we can fill out those forms ourselves, but my yearly calculus is this: I’m more likely to make a mistake than my accountant, the cost of the mistake . . . → Read More: Scams Against Immigrants – NCPW 2011

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