FiGuide and the National Association of Personal Financial Advisors (NAPFA) have teamedd up to provide a great, up-to-date resource addressing common financial issues. See http://www.figuide.com/napfa
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FiGuide and the National Association of Personal Financial Advisors (NAPFA) have teamedd up to provide a great, up-to-date resource addressing common financial issues. See http://www.figuide.com/napfa See http://healthpolicy.ucla.edu/eess0910_pdf/Marin.pdf for an estimate of the basic income needed to make ends meet for retired perons age 65 and over and in good health, in Marin County. Press Release Basic FDIC Insurance Coverage Permanently Increased to $250,000 Per Depositor
On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000. The standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category. The temporary increase from $100,000 to $250,000 was effective from October 3, 2008, through December 31, 2010. On May 20, 2009, the temporary increase was extended through December 31, 2013. “With this permanent increase of deposit insurance coverage to $250,000, depositors with CDs above $100,000 but below $250,000 will no longer have to worry about losing coverage on those CDs maturing beyond 2013. We strongly encourage all bank depositors who have questions about their insurance coverage to go to our Web site at www.fdic.gov and use our Electronic Deposit Insurance Estimator (EDIE) or call our toll-free number at 1-877-ASK-FDIC. Insured deposits provide the comfort and peace of mind to depositors that their money is 100 percent safe – provided they keep their deposit balances within the insurance limits,” said FDIC Chairman Sheila C. Bair. To help consumers, bankers and others understand how the new law affects deposit insurance coverage and to help consumers verify whether their deposit accounts are fully protected, the FDIC provides the following resources:
# # # Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation’s banking system. The FDIC insured deposits at the nation’s 7,932 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring the addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations. FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC’s Public Information Center (877-275-3342 or 703-562-2200). PR-161-2010 The following site offers weekly practical financial tips to consumers: The following is a fine new report published by Earned Asset Resource Network (EARN)http://www.earn.org/files/EARN_Saver_Study_Jan_2010.pdf The FDIC released a White Paper summarizing discussions about strategies for integrating the underserved into the financial mainstream and providing the financial education to help ensure consumers use banking services in a responsible way. The panel discussions occurred at FDIC Chairman Sheila C. Bair’s “Face Your Finances” road show held in five cities during 2008 and 2009 as part of the agency’s 75th anniversary celebration. The panelists addressed efforts to help consumers build assets and access mainstream credit services. Read the White Paper, entitled “Financial Education and the Future: The Banking Industry’s Role in Helping Consumers Manage Money and Build Assets,” at http://www.fdic.gov/anniversary/FDIC_WtPaper75anny_12-3-091.pdf. NEW YORK (CNNMoney.com) — Almost one-quarter of men are married to women whose income tops theirs — more than five times the percentage from four decades ago, according to a research group report released January 19th. The Pew Research Center said 22% of husbands made less than their wives in 2007, the latest year available, compared with 4% in 1970. The report polled U.S.-born 30- to 44-year olds. Starting February 2010, key provisions of the Credit Card Reform Act begin. Among the changes: credit card companies can’t retroactively raise your interest rate on an existing credit card balance – unless you’re 60 days or more late paying your bill. Even if your rate has been raised to a “default” rate, the new law restricts creditors to hitting you with that higher for just six months, if you pay on time. So every six months or so, starting today, call up your creditors and ask for lower interest rates. Often, credit card companies will lower your rate on the spot, simply because they don’t want to lose your business to another company offering lower rates. If you can knock down the interest rate on a card with a 21% interest rate to 12% or so, you’ll be saving yourself a lot of money. Your minimum payments will also be less each month. Another benefit of the credit card reform law is that, starting February 2010, banks and other credit card issuers will be banned from charging fees to customers who pay their bills via the telephone or the Internet. Why not check your FICO score ? The cheapest way to get a genuine FICO score is to get your free Equifax report from www.annualcreditreport.com and pay $7.95 for a FICO score. |
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