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Joined: Jan 16, 2010Comments: 85
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Recent Community Posts

3 Ways The Department Of Labor Is Helping Retirees-Marketwatch
Updated: 6 hours ago by paoli2  |  23 comments  |  Financial News

1. Retirees will get better advice 2. Retirees will no longer pay for their adviser to go to Hawaii 3. Retirees will get a warranty

Credit Card Payments Surpass Cash Worldwide For The First Time Ever
Posted: Sep 27, 2016 by Ally6770  |  0 comments  |  Financial News

In 2016, consumers worldwide will spend about $23.2 trillion in card payment transactions and $22.6 trillion in cash.

The Old Fed Is Dead
Updated: Sep 23, 2016 by paoli2  |  6 comments  |  Financial News

The old Fed is dead. The notion that it could orchestrate economic growth within narrow bounds was excessively optimistic and unrealistic. It may be, as read more

OFR Monitor Shows Accelerating Shift To Government Money Market Funds
Posted: Sep 22, 2016 by Ally6770  |  0 comments  |  Financial News

The OFR’s Viktoria Baklanova and Daniel Stemp, lead researchers on the MMF Monitor, attribute the shift to the Oct. 14, 2016, deadline for i read more

Will The State Take Your Client's IRA? It Can
Posted: Sep 17, 2016 by Ally6770  |  0 comments  |  Financial News

Can the state really make off with your client's IRA? Yes! It's called escheatment and states have been using this tactic more aggressively to bring in read more

Robocall Strike Force
Updated: Sep 17, 2016 by Ally6770  |  7 comments  |  Financial News

Good intentions; certainly hope it succeeds. WASHINGTON (Reuters) - More than 30 major technology and communication companies said on Friday they are read more

Walmart Did Not Allow Debit Card To Be Used As Credit Card.
Updated: Sep 17, 2016 by Ally6770  |  9 comments  |  Miscellaneous

On 5/1/2015, I had 5 out of 12 Walmart transactions post as debits. You have to keep close track of your credit transactions or you may be read more

Deutsche Bank To Fight $14 Billion Demand From U.S. Authorities
Updated: Sep 16, 2016 by Shorebreak  |  1 comment  |  Financial News

Deutsche Bank (DBKGn.DE) said it would fight a $14 billion demand from the U.S. Department of Justice to settle claims it missold mortgage-backed read more

Trump Discusses The Plight Of Savers And Low Interest Rates
Updated: Sep 16, 2016 by lou  |  12 comments  |  Financial News

Trump in an interview on CNBC says the low interest rates for savers and seniors is nothing less than discrimination. He said that for people who did read more

The End Of Social Security
Updated: Sep 15, 2016 by paoli2  |  7 comments  |  Financial News

Today's doom and gloom report: one famous economist, James Dale Davidson, boldly states… “We could see the end of Social Security as soon as 2017,  read more

Wells Fargo To Pay Around $190 Million Over Fake Accounts That Sparked Bonuses
Updated: Sep 15, 2016 by jimbeau  |  8 comments  |  Financial News

The Consumer Financial Protection Bureau has fined Wells Fargo $100 million for what it calls "the widespread illegal practice of secretly opening read more

Wells Fargo Exec Who Headed Phony Accounts Unit Collected $125 Million
Updated: Sep 13, 2016 by Shorebreak  |  1 comment  |  Financial News

When Tolstedt leaves Wells Fargo later this year, on top of the $1.7 million in salary she has received over the past few years, she will be walking away read more

Small Social Security Cost-Of-Living Adjustment Likely For 2017
Posted: Sep 13, 2016 by Ally6770  |  0 comments  |  Financial News

For example, consider a Medicare Part B enrollee who currently pays $104.90 per month for Medicare. If this individual were receiving a Social Security read more

6 Social Security Facts You're Probably Not Aware Of
Posted: Sep 10, 2016 by Ally6770  |  0 comments  |  Financial News

As noted above, the 2016 Social Security Board of Trustees report does anticipate the program will exhaust its $2.8 trillion-plus in existing spare cash read more

Buying Cds From Out Of Town And Maturity Problems
Updated: Sep 10, 2016 by paoli2  |  28 comments  |  Ask The Community

After all my years of purchasing CDs from all over the US, I have run into a problem which some may not be aware of.  It seems certain credit unions, read more

Why That Scuzzy ATM In The Back Of Your Favorite Dive Bar Is About To Disappear
Posted: Sep 10, 2016 by Ally6770  |  0 comments  |  Financial News

Starting in October, banks that issue credit and debit cards will no longer be solely responsible for fraud, according to MasterCard po read more

Heads Up, FICO: You’Ve Got Company | Money Talks News
Posted: Sep 7, 2016 by Ally6770  |  0 comments  |  Financial News

Despite the similarities, each company’s approach and its recipes — the formulas used to create a score — differ, sometimes a good deal.

A Cashless Society? Some Retailers Turn Noses Up At Currency
Updated: Sep 6, 2016 by Purplesage  |  5 comments  |  Financial News

Stroll into the airy Kit and Ace store on Woodward Avenue in Detroit and you're struck by the minimalist style that highlights the brand's comfortable, read more

Deadline Nears To Reverse Conversion-Kiplinger
Updated: Sep 4, 2016 by Ally6770  |  1 comment  |  Financial News

Dave Pesavento, 68, of Sugar Grove, Ill. He has done multiple conversions from his traditional IRA to Roth IRAs since 2010, and he considers reversing (or read more

What Happens If My Dad Passes And He Has A Cd Without Beneficiary On It?
Updated: Sep 4, 2016 by paoli2  |  14 comments  |  Ask The Community

my dad has some cd's without beneficiaries on them.  I am the executor of the estate.  what will happen if he passes?  Do I  just read more

How Does Somebody Use Their Money From Their Checking Or Savings Account To Buy A Car?
Updated: Sep 2, 2016 by Ally6770  |  9 comments  |  Ask The Community

I'm not asking how someone manages to come up with the money or save it effectively over time. I'm asking if someone already has the money, how does the read more

Don’t Make This Fatal IRA Rollover Error
Posted: Sep 1, 2016 by Ally6770  |  0 comments  |  Financial News

The rule states that only one IRA-to-IRA rollover can be done per year from all IRAs held by an individual, including Roth IRAs, SEPs and Simple IRAs. read more

US Weekly Jobless Claims Total 263,000 Vs 265,000 Estimate
Posted: Sep 1, 2016 by Ally6770  |  0 comments  |  Financial News

It was the 78th consecutive week that claims remained below the 300,000 threshold, which is associated with a robust labor market. That is the longest read more

Study Sees Tax Flaws In Most Retirement Calculators
Updated: Sep 1, 2016 by Ally6770  |  1 comment  |  Financial News

Despite all the advice and calculators that purport to show you how much you need to retire and when to withdraw it, retirement planning is an inexact read more

Transferring Money To And From Online Only Banks
Updated: Sep 1, 2016 by Ally6770  |  6 comments  |  Ask The Community

I've only been using brick and mortar banks, but I think I want to start a savings account with the only banks like Ally, American Express, Synchrony, or read more

CFPB CFPB Says Bank Account Service Issues Top Consumer Gripes
Posted: Sep 1, 2016 by Ally6770  |  0 comments  |  Financial News

Among other complaints among the 94,200 directed to the CFPB focused on banking (out of 200 million deposit accounts extant in the U.S.): the ability to read more

Deposit Insurance Fund’S Reserve Ratio Surpasses 1.15 Percent Benchmark
Posted: Aug 30, 2016 by Ally6770  |  0 comments  |  Financial News

The DIF increased $2.8 billion during the second quarter, from $75.1 billion at the end of March to $77.9 billion at the end of June, largely driven by read more

Fed Officials Tell Activists Rate Hikes Won't Derail Economy
Updated: Aug 30, 2016 by Ally6770  |  5 comments  |  Financial News

From Yahoo! Finance: An unusually large group of Federal Reserve policymakers appeared before activists on Thursday and defended their plans to raise read more

Updated: Aug 29, 2016 by Ken Tumin  |  1 comment  |  Financial News

For those who would like to follow the detailed figures released---- Next release will be Sept 30 8:30 am  Sept. figures as well as July and Aug will read more

Will October 1St Be The End Of The US Dollar??
Updated: Aug 27, 2016 by paoli2  |  9 comments  |  Ask The Community

"October 1st may prove to be the beginning of the end for the U.S. dollar.  On October 1, the IMF will officially add China’s currency – the read more