The Latest Debt & Finance Blog

Republicans oppose minimum wage hike

Congressional Republicans Balk at Raising Minimum Wage

By Bill Fay | February 20, 2013

In his recent State of the Union address, President Obama proposed raising the federal minimum wage from its current $7.25 an hour, a level where it has been stuck for…

sequestration debt ceiling

Five Things You Need to Know About Sequestration

By Bill Fay | February 18, 2013

President Obama and Congress are about to drag the country through another round of fiscal nonsense that likely will reinforce their reputations as indecisive politicians. The two sides are shadow-boxing…

Counting bills next to tax form

Identity Theft, Tax Fraud Increase as IRS Attempts to Curb Crimes

By Katherine Pilnick | February 15, 2013

As if tax season isn’t difficult enough, taxpayers must now be on alert for suspicious activity that could indicate that they are victims of tax-related identity theft. During last year’s…

state of the union

In State of the Union, Obama Focuses on the Economy

By Bill Fay | February 13, 2013

America needs a reality check. At least, that’s what President Obama said in last night’s State of the Union address. While the president acknowledged the fact that the economy is…

Credit report errors

Study: 10 Million Americans Face Costly Credit Report Errors

By Bill Fay | February 12, 2013

Mistakes by credit reporting agencies could be costing American consumers thousands of dollars, according to a report by the Federal Trade Commission (FTC). The FTC found that 5 percent of…

U.S. Oil drilling rig

Rise in U.S. Oil Production Threatens Global Health

By Bill Fay | February 12, 2013

In 1956, M. King Hubbert, a geoscientist working at the Shell research lab in Houston, presented a paper at a meeting of the American Petroleum Institute (API), predicting that oil…

60 Minutes tackles credit report errors

Credit Reporting Agencies Come Under Fire on ‘60 Minutes’

By Bill Fay | February 11, 2013

Have you checked your credit report this year? Even if you have, you may be one of the 40 million Americans with a mistake on your Equifax, TransUnion or Experian…

piggy bank

Former Bank Vice President Teaches Kids Basics of Finance

By Bill Fay | February 7, 2013

In 1999, Susan Beacham quit her job as senior vice president at Bank of America in Chicago so she could spend more time with her daughters. She volunteered to teach…

post office

Do We Need the Post Office Anymore?

By Bill Fay | February 7, 2013

America’s never-ending ping-pong match with the United States Postal Service – I love it! I hate it! Close it down! No, keep it open! – is back on. The announcement…

Americans don't save enough for emergencies

Nearly Half of Americans Don’t Have Enough Savings to Last 3 Months

By Bill Fay | February 5, 2013

Nearly half of Americans do not have the financial resources to survive for three months if they lose a job or can’t work because of injury. That’s the conclusion of…