Executive Order --Improving the Security of Consumer Financial Transactions

"Given that identity crimes, including credit, debit, and other payment card fraud, continue to be a risk to U.S. economic activity, and given the economic consequences of data breaches, the United States must take further action to enhance the security of data in the financial marketplace. While the U.S. Government's credit, debit, and other payment card programs already include protections against fraud, the Government must further strengthen the security of consumer data and encourage the adoption of enhanced safeguards nationwide in a manner that protects privacy and confidentiality while maintaining an efficient and innovative financial system..."
Consumer financial transactions

Financial Wellness at Work

" In this report, we specifically describe financial wellness efforts at five companies: Nebraska Furniture Mart, health care provider QLI, Staples, Goodwill of Central Texas, and Pacific Research. Each of these companies is innovating in financial wellness efforts and finding value in reducing and addressing the negative effects of financial stress on employees. They all took the time to share with us their best practices, and we appreciate their input and believe other employers could adapt and learn from their ongoing initiative.."
Financial Wellness

CFPB proposes rule to supervise larger participants in consumer debt collection and consumer reporting markets

"The Consumer Financial Protection Bureau (CFPB) today announced a proposed rule to include debt collectors and consumer reporting agencies under its nonbank supervision program. This would mark the first time these important and far-reaching consumer financial market participants are subject to federal supervision..."

Resolution: Manage Debt

"Do you want to take control of your debt in 2012? Many people face a financial crisis at some time in their lives because of personal or family illness, the loss of a job, or overspending. It can seem overwhelming, but debt can often be overcome.

There is no such thing as a quick and easy way to get out of debt. Turning to a business that offers help in solving debt problems may seem like a reasonable solution when your bills become unmanageable. But before you do business with any company, check it out with your state Attorney General, local consumer protection agency, and the Better Business Bureau..."

State and Local Government Revenue: 2009

"In 2009, state and local governments brought in nearly $2.1 trillion, a 22.1 percent ($587.5 billion) decrease from 2008, according to statistics from the U.S. Census Bureau. Most tax revenue categories saw declines except property tax, which saw a 3.7 percent increase to $424.0 billion.

These findings come from the 2009 Annual Surveys of State and Local Government Finances, which include statistics on revenues (including taxes), expenditures, debt and assets (cash and security holdings) for state and local governments.

Revenue from the federal government increased 12.3 percent from $478.0 billion to $536.8 billion between 2008 and 2009..."

Older Americans and the CFPB
"...The people just now reaching their sixties are part of America’s largest-ever generation of retirees. The CFPB is creating an Office of Financial Protection for Older Americans to ensure we serve this large community effectively.
This Office will connect seniors with what they need to guide themselves through their financial lives. The Dodd-Frank Wall Street Reform and Consumer Protection Act requires this Office to be active by January 21, 2012. We are building it right alongside the rest of the consumer bureau, and in the coming weeks and months you’ll hear more from us about financial issues for seniors.

Here are some places you can go now for senior financial protection information:

The Administration on Aging has Elder Rights Protection resources to make sure seniors can guard their rights.

The Securities and Exchange Commission offers some tip sheets and resources.

The FTC offers information on avoiding scams and fraudulent business practices, which advertise in ways that make them look like legitimate opportunities..."

Make the Most of Your Money During Financial Literacy Month
"April is Financial Literacy Month, and the Federal Trade Commission, the nation’s consumer protection agency, has information to help you make the most of your money whether you’re a student, young adult, parent, older person, or military service member.

“There’s no time like the present to learn proven money-management skills,” said David C. Vladeck, Director of the FTC’s Bureau of Consumer Protection. “Financial Literacy Month is an ideal time to learn – or teach others – the importance of consumers’ rights, and the best way to file a complaint if something goes wrong.”

Information from the FTC can help people explore how advertising affects them; understand credit, credit reports, and credit scores; get tips on how to protect their personal information and minimize the risk of identity theft; shop for a home loan; learn their rights when dealing with a debt collector; explore how advertising affects them; and much more.

ftc.gov/moneymatters, offers short, practical tips, videos, and links to reliable sources on a variety of topics in English and Spanish, ranging from credit repair, debt collection, job hunting, and job scams to vehicle repossession, managing mortgage payments, and avoiding foreclosure rescue scams.

ftc.gov/freereports offers details about a consumer’s right to a free copy of his or her credit report from each of the three national credit reporting agencies, upon request, once every 12 months. Reviewing one’s credit report regularly is an effective way to deter and detect identity theft.

ftc.gov/youarehere is a virtual mall where kids experience the FTC’s mission by learning about advertising, competition, and how to protect their privacy.

President Obama establishes Interagency Financial Fraud Enforcement Task Force
"Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime. The Department of Justice will lead the task force and the Department of Treasury, HUD and the SEC will serve on the steering committee. The task force's leadership, along with representatives from a broad range of federal agencies, regulatory authorities and inspectors general, will work with state and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, address discrimination in the lending and financial markets and recover proceeds for victims..."