Page 3

Americans Plan to Use Tax Refunds to Bulk Up Savings and Pay Down Debt Nearly half of Americans expecting a tax refund plan to use it to boost their savings, while more than one-third plan to pay down debt. Having a multitude of options for how to use their tax refunds, more Americans this year are opting to stash their......

Of the 12 percent increase in student loan debt last year, one-third came from borrowers with the weakest credit history, The Wall Street Journal reports. The figures show education debt could be a factor in low credit scores if borrowers fall behind on payments and accumulate large amounts of debt. Source: Online Wall Street Journal  ...

Only Half of Americans Have More Savings Than Credit Card Debt Stagnant incomes, long-term unemployment and high household expenses are among the factors hampering Americans’ financial progress, according to Bankrate.com. Slightly more than half of Americans (51 percent) have more emergency savings than credit card debt, according to a new Bankrate.com report. That is the lowest percentage since Bankrate.com began......

Medical Identity Theft Is On The Rise Identity thieves are increasingly looking beyond stealing identities to open credit card and other financial accounts. In recent years, using stolen identities to obtain medical treatment, prescription drugs and insurance reimbursements has become a growing trend. Medical-related identity theft reported in 2013 surpassed crime rates related to stolen banking, finance, government, military or......

Senate Bill Targets Data Brokers Legislators seek accountability from data brokers regarding the information they collect and sell, and aim to prevent brokers from identifying consumers who are financially at risk. On Feb. 12, Sens. Jay Rockefeller (D-W.Va.) and Edward Markey (D-Mass.) introduced legislation that would restrict data brokers from collecting or soliciting consumer information in deceptive ways, according to The......

Medical Bills are a Financial Burden for More Than One in Four U.S. Families Medical bills are often large, unexpected expenses that can send individuals as well as their families into debt. Access to health insurance, which may differ among family members, is one way for families to offset the financial risk of medical bills. In a study released on......

A personality survey reaffirms the differences between the British and the Americans, facts that marketers can exploit when creating their campaigns. UK consumers are more pessimistic about the future and have taken the recession more to heart than those in the US, according to exclusive research revealed in Marketing Week. The report by VisualDNA, which collects data from personality quizzes......

Consumer Debt in Canada Grows to More Than $1.4 Trillion The 2013 fourth-quarter increase occurred at the same time the national loan delinquency rate reached a record low. Consumer debt in Canada reached more than $1.4 trillion in the fourth quarter of 2013, in part due to increases in the installment loan and credit card sectors, according to Equifax Canada’s......

TCPA Class Action Dismissed Because Consumer Gave Prior Express Consent Federal judge found single text message not actionable and dismissed the case because the consumer provided her express consent to be contacted on her cellphone number when she gave the number as contact information while making a flight reservation. In a Jan. 28, 2014, decision, the U.S. District Court for......

Lender Tracking of Customers’ Social Media Use Raises Concerns Consumer regulators are reviewing the practice of basing loan decisions, in part, on use of sites such as Facebook and Twitter. Lending companies are increasingly using social media sites for information about borrowers’ credit eligibility and their identity, a practice that is concerning for consumer groups and regulators, TheWall Street Journal recently reported.......