News

2012

February

01

• IRS tax fraud crackdown targets identity thieves. Dozens of suspected identity thieves and others pursuing fraudulent tax refunds have been arrested in a nationwide crackdown aimed at reversing a sharp increase in crimes victimizing honest U.S. taxpayers, the IRS said Tuesday. Trying…

January

31

• Claiming an adult child on your taxes. Your children will always remain in your heart. But if you're like most parents, you don't expect them to always remain in your house. With tax season approaching, a lot of parents are grappling with…

• F.T.C. fines debt collector $2.5 Million. The Federal Trade Commission signaled on Monday that it would continue to crack down on debt collectors who harass consumers for money they may not even be legally obligated to pay. In the second-largest penalty…

• IRS clarifies whether airline miles are taxable. Frequent-flier miles are taxable? Really? That sentiment sums up the reaction from readers — and particularly accountants and lawmakers — to last week's column on Citibank sending tax forms to customers who received thousands of…

30

• Scam watch: Consumers conned by would-be lovers. Here is a roundup of alleged cons, frauds and schemes to watch out for.

• How I buy groceries without cash. Philadelphia locals volunteer their time to earn Equal Dollars, an alternative currency that can be spent on food and medicine.

28

• Wanted: banking app to monitor balances. You haven’t been able to turn around in recent months without hearing about one or another bank adding fees to its checking accounts or making new rules for people who want to keep their free…

26

• How to deal with higher bank fees in 2012. You should expect bank fees to go up again this year. How can that be? Customer outrage just forced Bank of America and several other big banks to scrap plans to charge a monthly debit…

25

• Consumer bureau head Cordray testifies on Hill. Republicans in Congress don't much care for the agency that Richard Cordray heads, and they were downright furious over the way he got his job earlier this month. But when the new director of the…

24

• College students face stiff competition for financial aid. f worries about paying for college disrupt your sleep, here's news that will keep you up until dawn: More students than ever are competing for a shrinking pool of financial aid. Several states have reduced…

• Change.org emerges as influential advocate. Ben Rattray knows that revolution does not always happen spontaneously. The 31-year-old entrepreneur rattles off a list of populist actions over the past year: the consumer revolts against Bank of America’s and Verizon’s unpopular fees,…

20

• New rules for international money transfers. Customers who send international money transfers will soon be entitled to clearer cost disclosures. The Consumer Financial Protection Bureau on Friday issued new rules governing remittances, which are often used by immigrants to send money…

• Lakers fan claims foul by Ticketmaster. Ticketmaster is no stranger to irate customers. Any company that charges hefty fees to process an automated order and to allow you to pick up your tickets at the box office is going to cheese…

18

• Options for 401(k) plans get more affordable. As employers prepare for new federal rules requiring them to explain how fees affect 401(k) returns, industry providers are rolling out better, lower-cost plans. The Department of Labor rule "is a big driver of change,"…

• Visa’s digital wallet now available on some smartphones. Good news for people suffering from discomfort caused by sitting on a thick wallet full of credit cards and credit card receipts for a long duration: Visa, the credit card company, said it supported making…

17

• Credit card debt drops. Consumers whacked down credit card debt by 11% last year, and average debt loads dropped in every state. The average credit card balance for 2011 was $6,576, down from $7,404 the previous year, according to…

• AT&T: 'measured' phone rate up; Wells: money transfer fees coming. With bills for pretty much everything steadily rising, some people try to keep a lid on monthly costs by opting for "measured" phone service. What that means is they're charged a fixed rate for a…

• Tips for 2011 tax-filing season. This year, the deadline for filing your federal tax return is April 17. Taxpayers get an extra two days to file because April 15 is a Sunday and April 16 is Emancipation Day in Washington,…

14

• Financial advice for those with small nest eggs. When Merrill Lynch recently discouraged its thundering herd of brokers from taking on new clients with under $250,000 in assets available for investing, it wasn’t a big surprise. Brokerage firms have been making these sorts…

13

• Credit score zealots pursue fool’s errand over 800. eff Rose, a 33-year-old financial planner, is trying to improve his credit score even though it’s 780, which is 69 points above the median score. Rose, who lives in Carbondale, Illinois, said he opened up…