All posts by Barbara Nevins Taylor

Mayor Puts Spotlight on New York City ID Card For Immigrants

July 9th, 2014

New York City Mayor Bill de Blasio held a public hearing and put the spotlight on the New York City ID card for immigrants. The City Council voted, on June 26th, to create the municipal ID cards. Now the trick is figuring out how the largest ID program in the nation will work.

The cards will be available for undocumented immigrants, the elderly, homeless people and those who are transgender and have difficulty getting documentation. The city will issue the cards in late 2014 or early 2015 at a cost of about $8.4 million to launch.

Critics of the program say that it will make undocumented immigrants easier for federal authorities to find and deport. But immigration advocates and those who will benefit embraced the plan. Juan Carlos Gomez, an undocumented immigrant with the activist group Make the Road By Walking, said, “I know what it is to not have an ID, and I know this card will go a long way to building trust and confidence with immigrant communities and local authorities.”

At the City Hall hearing, Mayor de Blasio thanked Nisha Agarwal, the commissioner for the Mayor’s Office of Immigrant Affairs. She’ll spearhead the initiative and put it into practice.

The Mayor said, “The need for a municipal ID program is clear. There’s a large percentage of New Yorkers who do not have a New York State driver’s license – probably disproportionate to any city in the country, since so many people here do not own a car and do not drive. So you have a lot of people who don’t have that most basic form of ID across all demographics. And then, for those who are undocumented, or for folks who have been in other ways left out in our society, the municipal ID card represents a ticket out of the shadows.

“For example, for undocumented immigrants, many just don’t have a universally accepted form of ID. This will be the first time for many many New Yorkers to have that basic document that makes it possible to get a lease, to get a bank account, to get a library card, to get so many of the things that make day-to-day life possible. Hundreds of thousands of our fellow New Yorkers – people who are part of our communities, our neighborhoods, but don’t have those basic opportunities – the municipal ID card is going to open up those opportunities to them.

“For transgendered people, this will be the first time they’ll be able to choose their own gender marker on an ID recognized by the NYPD and other city service providers.

“For homeless New Yorkers, this is going to be a card that will allow them to get access to city services and other help they need more easily.

“And a muni ID is going to be more than just a simple ID card. We’re working hard to create a card that New Yorkers across the spectrum are going to want in their wallets, because we’re collaborating with private institutions to develop an array of benefits and discounts that will come with having a municipal ID card. These are being worked on and all of this will be finalized and launched towards the end of this year. A lot of people in this administration are working very hard, led by Nisha, to bring all these pieces together so we can get this up and running for people who need it in New York City.

“Now that’s what the card is. Let me tell you what the card is not. It’s important to note that the municipal ID card will not conflict with state or federal legal limitations. We’ve taken those into account very specifically as we’ve built out this plan. And the municipal ID card is not appropriate for use in transactions involving interstate or international travel. It’s for people in New York City to use in New York City. And we think it’s going to make a big difference in their lives here.”

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Keep The Home When A Loved One Dies

July 8th, 2014

by Barbara Nevins Taylor

The sadness of a death in the family is often compounded when there’s a question about who can take over the mortgage of the family home. If your name is not on the mortgage when your spouse or a loved one dies, problems can arise.

If there is an outstanding loan on the property, even if there is a will that transfers the home to an heir, a bank might not want to add the new name to the mortgage. In addition, if you were in this position and wanted to refinance to lower the interest rate and your payments, a bank could refuse.

So the Consumer Financial Protection Bureau (CFPB) stepped in to make things easier for families and allow an heir or heirs to keep the home when a loved one dies.

The CFPB clarified its mortgage rules to insure that “when a borrower dies, the name of the borrower’s heir generally may be added to the mortgage without triggering the Bureau’s Ability-to-Repay rule.”

What’s the “Ability-to-Repay rule?” It’s a rule the CFPB created to prevent banks from making bad loans, as they have in the past, to people who do not have the ability to repay.

The clarification, which allows an heir to skip this vetting process, is important.

CFPB Director Richard Cordray said, “Losing a loved one should not mean also losing your home. Today’s interpretive rule makes it clear that when family members inherit property, they can take over the mortgage without jumping through unnecessary hoops. This gives heirs an opportunity to work with the lender to pay off the loan or seek a loan modification.”

The rule clarification won immediate praise from consumer activists. Alys Cohen, staff attorney at the National Consumer Law Center, said, “We hope the CFPB will go further and build on its October 2013 guidance to make clear that mortgage companies should accept loan modification requests from successors’-in-interest before requiring that person to assume the debt.”

Let us know about your experience.

Choosing a Pet When You’re Over 55

Message At Gay Pride Parade

June 29th, 2014

by Barbara Nevins Taylor

A mostly young, happy crowd stood three deep along Christopher Street where the Gay Pride Parade strutted and rolled by the Stonewall Inn bar. N.Y.P.D. officers along the route seemed more like tour guides for the out-of-towners enjoying the parade and the sunny day, than cops on the lookout for trouble.

It was easy to get a good vibe.

And that says a lot because the New York parade celebrated the 45th anniversary of the Stonewall riot, which marked the beginning of the gay civil rights movement. Just a bit of quick history in case you’re unfamiliar: in the 1960s police raided gay clubs pretty regularly because it was illegal for gay people to dance with each other and it was illegal to sell them alcohol.

A little after 1 a.m. on August 28, 1969, eight police officers targeted the Stonewall and began to arrest the nearly 200 people who were there.

At the time, it was a popular, noisy bar filled with drag queens, transgender young men and other young people. The police lined everyone up to wait for wagons to take them away, and while they were waiting a crowd gathered. The crowd clashed with the outnumbered police officers. Their protest sparked other protests around the city and helped create the gay liberation movement.

The 2014 parade also comes almost a year after the U.S. Supreme Court struck down the Defense of Marriage Act, which banned federal recognition of same-sex marriage. Since then, seven states have legalized gay marriage to bring the total number of states where it’s legal to 19.

But something else caught our attention. It was also fitting that right across from Sheridan Square Park young men stood with signs to offer another kind of message at the Gay Pride Parade. Marketers Benjamin Sherman and Damian Charles brought their “Say It With A Condom” business to the street where it matters.

“We’re doing this for free today,” Sherman told us. “We think it’s a good message and important to be out here.”

Sherman began putting messages on condoms during the 2008 presidential campaign when he placed photos of Barak Obama and John McCain on condoms and sold more than a million. Since then, he launched a company that sells the marketing service to companies and anyone who wants to put a message on a condom.

At Sheridan Square, Sherman and the crew carried signs that said things like

“I’m Gay And That’s Okay.”

“Being Gay Is Not Voluntary. Hate Is.”

” Gay, Lesbian, Bi-Sexual, Straight, Human.”

Important messages for sure. Promoting his business, yeah. But subtly, or not so subtly, reminding people to use condoms is a pretty good message, too.

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GE Capital to Pay $225 Million

June 20th, 2014

When a credit card company or bank wants to sell you things like “Credit Card Security” or “Debt Security,” be wary. You can bet you’ll get less than what you pay for. The federal government’s action requiring GE Capital to pay $225 million, to settle charges of illegal marketing and discrimination, is the latest reminder.

The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) found a pattern of deceptive marketing and outright discrimination by GE Capital, which provides credit card services for major retailers. The company changed its name to Synchrony Bank on June 2, 2014.

HERE’S WHAT HAPPENED

Telemarketers for GE Capital called card holders and offered five different debt cancellation add-on products: “Card Security,” “Account Security,” “Account Security Plus,” “Debt Security,” and “Debt Security Plus.” But they didn’t mention that they were selling these credit card add-ons and if you signed up, you’d have to pay a fee.

They told consumers that these credit card add-ons were free. But this was not completely true. It was only free if you paid off your balance before GE Capital issued a monthly statement.

Telemarketers also failed to tell some consumers that they didn’t qualify for the add-ons because they were retired or disabled, and consequently they wouldn’t be eligible for cancellation benefits.

In addition, they made it seem like it was a great benefit that you had to rush and sign up for immediately.

As a result of investigators’ findings, GE Capital will pay $56 million to approximately 638,000 consumers who became victims of these deceptive marketing practices.

GE Capital will also pay an additional $169 million to about 108,000 Spanish-speaking borrowers, in Puerto Rico and elsewhere, who couldn’t take advantage of legitimate debt relief programs because the company discriminated against them. They were not offered plans to manage their debt if they said they preferred to have a conversation in Spanish.

CFPB Director Richard Cordray said, “We will continue to take action against marketing tactics that trick consumers into buying credit card products they do not want or cannot use. Consumers also deserve to be treated fairly no matter where they live or what language they speak.”

HOW YOU GET YOUR REFUND

If you’re a GE Capital customer who became a victim of these practices, you don’t have to do anything. You’ll receive a credit to your account or a check.

FIX CREDIT REPORT INFORMATION

GE Capital will also work with credit bureaus to fix any negative information that might have resulted because of the purchase of the add-ons.

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How To Work Out After 50

June 16th, 2014 5 Comments

by Kevin May

I grew up in a family of thirteen children and we didn’t always have enough to eat. We needed money and when I turned nine, I got my first job. I worked in a pizza place for tips and all the pizza I could eat. I got so fat that my nickname became “Fat Slice.”

My weight embarrassed my older brother Anthony. He was on his high school gymnastics team and he made me run with him. I hated it. I was so heavy that my bulk slowed me down and made it painful to run.

But then something happened. Maybe it was because my brother was helping me with exercise, I don’t know. But I began to pay attention to the Jack LaLanne TV show. He really inspired me. I watched Jack turn household items into exercise equipment. He also used his own body as a source of resistance to build muscle and it made it seem like fun.

I began to follow his instructions and work out on my own. I continued to follow my brother’s coaching and work out with Jack and pretty soon noticed changes in my body.

The real turning point came during my first year of high school. I decided to try the fitness challenge, which is a series of track-and-field-type events and exercises. My first attempt resulted in failure.

But I didn’t give up. I continued to exercise, and by the end of the school year I passed the fitness challenge. I climbed the rope and ran the required laps around the indoor track. My gym teacher gave me a trophy for the most improved physical fitness and that’s when my obsession with exercise and fitness began. I became a motivated and confident athlete. I competed in wrestling, bodybuilding and football.

After I graduated from high school, I went to work for a Jack LaLanne Health Spa in New York City. For the next 15 years, I worked at major health clubs and gyms including Gold’s Gym, Crunch and Bally Total Fitness. I taught aerobics, body sculpting, stretching, and one-on-one training.

I also began to study martial arts. Judo really appealed to me and I earned my brown belt within a few years.

But then things changed for me. In the late 1990s, my wife Kathy and I moved to the suburbs. I took a job in retail home improvement and later in telecommunications. My work schedule made it very difficult to establish a regular workout routine and I began to gain weight, lose motivation and energy. My health suffered and I no longer recognized myself. I felt like that fat little boy again. It was a very depressing time for me. I was smoking cigarettes and my overweight, out-of-shape body dragged me down so much that I didn’t even enjoy walking with my wife in the park.

I felt as though my work life had taken over and killed my passion for fitness.

But about the time I turned 50 I started to get serious again about my health and fitness. I lost my job installing satellite TV dishes and after I got over that, I realized that I could finally think about working on myself.

I joined a local gym and created a simple routine with basic weight training and aerobics. My body did not respond the way it did at 25 or 35. I could not do the same routines. I realized I needed to reassess my fitness plan and create a new strategy.

Here’s what I did to face the challenge of how to work out after 50:

1. Went for a physical to make sure I was healthy enough to start a fitness program.

2. The doctor helped me assess structural imbalances that may have developed from old injuries and repetitive strains. These changes required me to adjust my posture and alignment.

3. I began to strengthen my core because all movements originate from the core.

4. I started with basic body movements and used calisthenics including lunges, pushups and bodyweight squats.

5. I began a program of low-to-moderate intensity aerobics for 20 to 30 minutes and made that part of my regular warm-up routine.

6. I changed my eating habits. I reduced my sugar intake, began to eat regular meals with more vegetables, fruits and lean meats and allowed myself to have a treat one day a week. I also quit smoking, began to drink lots of water and started to get 6 to 8 hours sleep every night.

7. I also include regular acupuncture sessions from my talented acupuncturist wife Kathy Yocum. This helps with joint and muscle pain and strain, reduces inflammation, increases circulation, and improves my energy level.

BIG IMPROVEMENT

After almost a year easing into the routine and going slow, I made a good amount of progress. I lost 15 pounds of fat. Because I could move with agility again, I went back to my real passion, Judo. But I still had to learn to pace myself in Judo to accommodate my age. The Judo works my whole body out on every level.

Here’s the big pay-off. After seven months of Judo, I am preparing to compete in the world Judo championship in the over-50 category next year.

I also returned to personal training and fitness. I look forward to sharing what I learned and my experience with people who are starting back into fitness at this age, or just beginning.

It is possible to feel and look your best at any age. Here’s to the next 50 years of health and happiness.

All 55 Plus

My Dad Was a Complicated Guy

June 15th, 2014

When I pulled out the 75th birthday photo of my dad, Zeke Segal, it reminded me of the party where we celebrated at Bones restaurant in Atlanta. He amazed us that afternoon, when he gave us a new definition of “best friends.”

My dad was a complicated guy. Two nights before his birthday party, my husband Nick and I flew in from New York and took Zeke and his girlfriend to dinner at La Grotta, another of his favorite restaurants. We talked about politics, the world, laughed and ate the good food. He consumed great quantities of red wine. His girlfriend, a woman about twenty-years younger, was smart, interesting and seemed to really like my father. The evening flew by and I enjoyed my father more than I had in years. We all almost forgot one critical thing. We never mentioned my dad’s wife Theo.

She was at home several miles away and had no idea we were in town enjoying an evening with Zeke’s girlfriend, whom I believe she didn’t know existed.

After dinner, Zeke got into his Cadillac tipsy and happy and drove home to Theo.

Two days later, we joined Theo and the party she assembled at Bones for the big birthday celebration. Zeke, with a glass of red wine in hand, chatted up the guests and enjoyed the attention of his friends. Most of the people at the party were from the condo complex where they lived in an Atlanta suburb. They frequently gathered in Zeke and Theo’s condo at five in the afternoon for a pre-dinner cocktail.

So the convivial group laughed at Zeke’s jokes and happily drank with him. But most of the people who’d worked with my dad at CBS News, and with whom he strongly identified, were absent.

When it came time for the toast, Zeke raised his wine goblet and thanked everyone for joining him to celebrate his 75th birthday. And then he toasted them. “To my best friends in the world, right now,” he said. He didn’t blink.

It was an interesting concept, and I guess it’s one of the lessons Zeke taught us. You can have “best friends in the world, right now.” Or can you?

Here’s to my dad Zeke Segal. Maybe not the best father, but the one I loved then and love now.

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Debt Settlement Playbook And How to Spot a Phony

June 3rd, 2014

The unscrupulous debt settlement playbook seems filled with the same x’s and o’s all across the country. These folks organize a group of companies, use robocalls to solicit victims who owe money, promise to help clear up debts, collect a fat fee and leave the consumer in financial ruin.

The latest crackdown by the Federal Trade Commission (FTC) charges an Irvine, California-based company with failing to fulfill promises to provide legal advice and settle consumers’ debts. This company audaciously charged some consumers as much as $10,000.

The FTC alleged that “DebtPro 123 LLC defendants told consumers to stop paying and communicating with their creditors. As a result, although consumers hired the defendants in hopes of improving their financial situation, their debt often increased, causing them to lose their homes, have their wages garnished, lose their retirement savings, or file for bankruptcy.”

The group of companies and individuals, led by Bryan E. Taylor, used robocalls, website ads, promotional videos and marketing companies to generate leads. They promised consumers would “become debt free and enjoy financial independence” within 18 months. They said their attorneys could use relationships with all of the major creditors to negotiate the best possible deal and claimed consumers could reduce their debt by 30 to 70 percent.

They asked for a Limited Power of Attorney from consumers and debited their bank accounts for illegal upfront fees, monthly charges and the supposed payments to creditors. But the FTC complaint says they didn’t begin to negotiate with creditors immediately and, even in cases where they did make some payments, they did not pay all of the consumer’s debts.

Some people were told their debts were “resolved” only to learn later that they still owed money and were being sued by a creditor.

This nightmarish situation highlights a few things for the rest of us:

Ignore companies that make robocalls or advertise on the web or on TV and promise to help you fix your credit or settle your debts.

Look for not-for-profit groups in your community that help with credit counseling.

How do you spot a phony debt settlement company? The Better Business Bureau suggests you stay away if a company:

Demands that you provide account numbers or other financial details before it will discuss its services or fees.
Boasts that it can lower your monthly payments by a specific amount or percentage.
Promises that it can “get you out of debt easily.”
Claims that it can remove negative information, such as bankruptcy, from your credit report.
Insists that you make an immediate decision.

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How Kids Learn Focus

May 29th, 2014

Here’s quick look at how kids learn to focus and a surprising insight into concentration provided, unwittingly, by a little boy.

We stumbled upon 6-year-old Miles playing chess in Washington Square Park. At first, we thought he was adorable and stopped to look. Then we realized there was something more going on. This child was engaged by the game and used the kind of single-minded focus that’s really important in every thing that we do. It really got us thinking.

We watched Miles play a game of speed chess with Omar, one of the park regulars. The boy kept his eye on the chess pieces and the moves Omar made. We looked around for Miles’ father and found him watching someone else play. When I asked about Mile’s game the dad said, “He’s got chops but he’s still learning.”

What you see is what really happened. Miles paid no attention to the people walking by or those stopping to talk and people like me taking photos and shooting video.

We were impressed because Miles kept his eye on the chess pieces and didn’t look or dart around. He zeroed in on the board and the moves he might make instead of letting his thoughts wander. He paid attention when Omar encouraged him to move and asked him commit to an even deeper focus “Come-on Miles, ” he urged. And the kid responded by taking Omar’s king. It doesn’t matter whether Miles won or lost. What counts is that at six he understands how to concentrate on one thing at a time.

I don’t want to sound cranky, but distractions threaten every thing we do and the myth of multi-tasking really messed a lot of people up. We all have to focus to do something well. Life really is a one thing at a time proposition and requires putting one foot in front of the other to move forward. And this little chess player is a great example. Miles was right there with the game, and that’s the kind of focus we all need for everything that we do.

I’m looking for more examples of the ability to zero in on one thing at at time. Recommendations anyone?

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Pension Advance Company Changes Name

May 29th, 2014 2 Comments

by Barbara Nevins Taylor

What’s in a name? that which we call a rose

By any other name would smell as sweet; Shakespeare wrote.

By the same token a pension advance company that changes it’s name and continues to do the same thing is pretty much the same company and raises the same alarm bells for people who think about borrowing money against their pensions.

We reported about Darren Scott in our story Pension Advance Plans Take a Big Bite. Darren thought he was borrowing $5,000 on his pension and wound up owing over $24,000. He tells us now that he received an email from Pension Annuities and Settlements, the company he borrowed from, announcing a name change.

They wrote: “Pension Annuities and Settlements is pleased to announce the new name of our company, Future Income Payments LLC. This is simply a name change for the consistency of branding. Our Management Team, Processing, Collections Team, methods of payment by you, etc., remain the same.

We are not a new company, we are the same company with a new face.”

The email goes on to remind Darren and others that he, and they, are still obligated to pay the debt to this company, by whatever name it calls itself.

The old face of the company was attracting a good deal of scrutiny.

We recently reported, the Washington State Department of Financial Institutions (DFI) Consumer Services Division filed charges against Pensions, Annuities and Settlements, LLC (PDF), and Pension Funding, LLC (PDF). The called the companies unlicensed lenders and accused them of making illegal loans with excessive interest rates that ranged as high a 129.9 percent

Washington’s DFI Director of Consumer Services Deborah Bortner said, “Loans that are made by unlicensed companies with interest rates exceeding the legal limit are particularly harmful when large loan payments cut into retirees’ limited monthly pension income.”

And on the East Coast, as ConsumerMojo previously reported, New York and other states are investigating pension advance companies. New York State subpoenaed records from Pension Annuities and Settlements.

So stay tuned.

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Auto Loan Servicer and Debt Collector Will Pay Millions

May 29th, 2014

Here’s the kind of thing we like to hear. An auto loan servicer and debt collector will pay millions to consumers it allegedly cheated and harassed. And 128,000 people who financed a car or vehicle through a dealer and were serviced by this company will get money back.

Consumer Portfolio Services, Inc. (CPS) will pay more than $5.5 million to settle Federal Trade Commission (FTC) allegations that it overcharged these customers.

The Irvine, California company worked for auto dealers and banks all across the U.S.and it sounds like they were a nightmare for consumers.

The FTC says CPS collected money it wasn’t owed, harassed consumers, falsely threatened to repossess vehicles and told employers and family and friends about consumers’ debts. The list of alleged wrong-doing is long. Here’s what the FTC says the company did:

Misrepresented fees consumers owed in collection calls, monthly statements, pay-off notices, and bankruptcy filings.
Made unsubstantiated claims about the amounts consumers owed.
Improperly assessed and collected fees or other amounts;
Unilaterally modified contracts by, for example, increasing principal balances.
Failed to disclose financial effects of loan extensions.
Misrepresented that consumers must use particular payment methods requiring service fees.
Misrepresented that the company audits verified consumer accounts balances.

CPS agreed to refund, or adjust, 128,000 accounts more than $3.5 million, and stop collections on an additional 35,000 accounts to settle the FTC’s charges. It will will pay another $2 million in civil penalties.

HOW DO YOU GET YOUR MONEY?

Refunds should go out within 90 days to people who were victimized. Others should see adjustments on their accounts in that time period. If you have a questions about your eligibility you should contact CPS directly via telephone at 1-888-806-2367, email FTCsettlement@consumerportfolio.com

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Payday Lending Bullies

May 27th, 2014

If you or someone you know is tempted to get a quick cash loan from one of the online companies that offer short-term loans, or if you’re thinking about a local payday lender, here are some good reasons not to do it. There’s also some equally unpleasant evidence that debt collectors use illegal techniques.

The Consumer Financial Protection Bureau (CFPB), during the past year, reviewed the practices of companies that make fast cash, short-term loans. It found a pattern of payday lending bullies in the industry who use harassment and deceptive techniques to try to collect money.

Here’s what they discovered:

Payday lenders sometimes threatened to take legal action to collect a debt when they know they won’t do it. The CFPB says the threats are “unlawful deceptive practices.”

Some payday lenders threatened to impose additional fees or to debit borrowers’ accounts at any time, when this was not allowed by their contract.

Some payday lenders lied about non-existent promotions to lure borrowers to call back about their debt.

Payday lenders also called borrowers a number of times a day and sometimes employees of the companies visited borrowers’ workplaces. The CFPB says, “Such practices by lenders can violate the Dodd-Frank Act’s prohibition on unfair practices.”

When payday lenders hired outside collection agencies, the CFPB says, employees of those companies harassed and threatened borrowers.

The CFPB also looked at the practices of more than 4,500 debt collection agencies in the U.S., and the the picture they paint is as creepy as the payday lending world.

DEBT COLLECTORS

The CFPB found debt collectors intentionally and illegally mislead consumers about taking them to court and filing lawsuits when they had no intention of pursuing them. If consumers challenged the debt collectors they invariably dropped the lawsuits because they didn’t have the evidence to prove their claims.

Some debt collectors, like the payday lenders, make “excessive and illegal calls to consumers.” Investigators found one debt collector made about 17,000 calls to people outside of the time that’s established by federal law. 1,000 consumers were called as often as 20 times within two days.

WHAT THE REPORT DOES

The CFPB says it aims to put companies on notice and pressure them to clean up their operations. The Bureau also alerted law enforcement officials who can take action against the worst offenders.

In the meantime, it’s wise to stay away from payday lenders and important to report harassment by debt collectors.

First Memorial Day And the Civil War

May 26th, 2014

The Civil War took the lives of 750,000 soldiers from the North and the South and many who fought in the battles and watched fellow soldiers die, knew that wound needed healing. In 1868, three years after the war ended, veterans’ leader and Union Major General John A. Long proposed Memorial Day as day of tribute and suggested decorating the graves of the war dead with flowers. May 30th was chosen as Decoration Day, and it may be because flowers were in bloom in every part of the reunited nation then.

General and Mrs. Ulysses S. Grant presided over the first ceremony in Arlington National Cemetery on the veranda of what was once the home of General Robert E. Lee. After the ceremony veterans and children from the Soldiers’ and Sailors’ Orphan Home walked through the cemetery placing flowers on the graves, reciting prayers and singing hymns.

The Veterans Administrations says springtime tributes to the Civil War dead already had been held in cities in both the North and the South. Columbus, Mississippi held one of the first on April 25, 1866. Women decorated graves of Confederate soldiers who killed in the battle at Shiloh. They also placed flowers on the bare graves of Union soldiers.

Since 1866, cities in the North and South have argued over which was first to begin the decoration ceremonies. Macon and Columbus, Georgia; Richmond, Virginia; Carbondale, Illinois; and Boalsburg, Pennsylvania all claim the title.

One hundred years later, in 1966, President Lyndon Johnson and Congress named Waterloo, New York as the “birthplace” of Memorial Day. The town first honored its Civil War veterans on May 5, 1866 and it was a community event where flags flew at half-staff and businesses closed.

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eBay Hack: Time to Change Your Password

May 25th, 2014

If you use eBay, it’s time to change your password. It’s troubling that the company was hacked in late February or early March, discovered this about two weeks ago, and waited until May 21st to start sending email alerts. The alert didn’t hit my inbox until May 25th. Clearly, companies that get hacked should notify consumers immediately.

eBay says hackers got access to the credentials of a few employees and broke into data bases with customers names, encrypted passwords, email and physical address, phone numbers and dates of birth. In the email, eBay Global Marketplaces President Devin Wenig said the company conducted, “extensive analysis and found no evidence that any customer financial information or credit card was involved.”

Apparently, no PayPal information was hacked.

Nevetheless, the company is asking all its users to change eBay passwords and it’s relatively simple.

This hack reminds us of the need to change passwords often on sites that we use frequently.

And even though, eBay says no financial information was compromised, it’s a good idea to keep an eye on your accounts.

This is what you need to do:

Monitor accounts for unauthorized charges or debits.

Regularly review accounts online if possible, and at a minimum examine monthly statements closely.

Report even small problems immediately. Some thieves may process a small charge or debit just to see if the account is live or whether the consumer notices.

Be aware that fraudulent charges may occur many months after information is stolen.

Even if you think the PIN on your debit card was not stolen, consider changing the PIN to be on the safe side.

Alert your bank or card provider immediately if you suspect fraud.

Alert your bank or card provider immediately if you suspect an unauthorized debit or charge.

If you find fraudulent charges, ask the card provider to close access to the account and issue a new card before more transactions come through.

Follow up with the bank or card provider and maintain records. Call the bank or credit card provider first, also ask about how you can follow up in writing. Make sure you keep a copy of your correspondence.

If you don’t like the way your bank is handling things, the CFPB says, “If consumers are unsatisfied with how their bank or card provider responds to a report of fraudulent charges, they can submit a complaint to the CFPB. Card providers should investigate charges and respond quickly. Consumers have a right to see the results of the bank’s or card company’s investigations.”

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Volunteer Caregivers Show the Way

May 22nd, 2014

by Barbara Nevins Taylor

About 300 people packed a church recreation room in Toms River, New Jersey, to share a meal and the knowledge that they enrich the lives of strangers. These volunteer caregivers show the way to help older people in our communities. They deserve applause and more and being with them makes you wonder why this group isn’t the model for a movement across the U.S.

I met these inspiring people because Lynette Whiteman, the executive director of Caregiver Volunteers of Central Jersey, invited me to give the keynote speech at the group’s annual volunteer appreciation dinner. I talked about helping my mom, Aunt Ethel and Cousin Marilyn and I ended in tears. But my participation is beside the point here.

The others who were in the room are the real stars. In their communities in Ocean County they use their own vehicles and invest their physical and emotional energy to help older people live at home and hold on to things that are important to them. Most of the volunteers are in their 60’s and 70’s.

Each volunteer works with what they call a “care receiver.” They do the little things that in previous generations a family member who lived nearby might help out with. They shop for groceries, take someone to a doctor’s appointment and often spend much needed person-to-person time. Some even bring a pet.

Visits like these matter. I know that my mom wanted to chat and brightened at the possibility of conversation. “What’s new in the world of news, sports and entertainment?” she always asked. And if I didn’t hold up my part of the talking, she might even ask the same question again. She craved the communication experience and wanted to sit across from someone who was animated and distracted her from the daily routine.

The volunteer caregivers brighten lives in the part of New Jersey with the oldest population. Many of the people they help have children who live too far away to assist. Others outlived their own kids and family members. Most of those paired with a caregiver are in their 80’s and 90’s and twelve are over 100. And Angela Spagnoli, at 107, is the oldest.

The volunteers also give a break to grown children who are full-time caregivers. 54-year-old Penny Kellow counts on the Volunteer Caregivers as an essential resource. Her dad Robert lives with her and suffers from Alzheimer’s Disease. He requires a great deal of attention. She says, the volunteers who come to give her a break relieve the stress and give her a little time off to take care of herself.

The Volunteer Caregivers of Central Jersey offer essential services and it seems like a perfect model for neighboring counties, the state and the entire nation. We’re going to need a lot of people helping others. The Centers for Disease Control says the older population is growing at an unprecedented number because Americans live longer than ever before, and because of aging Baby Boomers. By the time the last Baby Boomer turns 65 in 2030, 1 in 5 Americans, about 72 million people, will be older adults.

Consider this a Call To Action.

Don’t call us “seniors.” But do work with us and groups like the Volunteer Caregivers of Central Jersey to figure out how one generation can help the next and how neighbors can enable us to live relatively gracefully in our own homes.

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Washington State Aims to Stop Pension Advance Companies

May 20th, 2014

We’ve reported about the dangers of taking an advance on your pension because you can end up losing a big chunk of your money. Now Washington State aims to stop pension advance companies from doing business with people who live in the state. It issued cease and desist orders to two big players in the national pension advance business.

The Washington Department of Financial Institutions (DFI) Consumer Services Division filed charges against Pensions, Annuities and Settlements, LLC, and Pension Funding, LLC. The companies are accused of operating without a lending license and making loans to Washington consumers as cash advances secured by future income from pensions.

Washington DFI alleges the companies made, “at least 95 loans to Washington consumers, charging fees that would equate to interest rates ranging from 22.7 percent to 129.9 percent.”

In Washington State, the maximum interest rates can legally range from 12 to 25 percent.

The state claims, “pensioners signed a contract to receive a lump sum of cash, totaling sometimes as much as $60,000, in exchange for monthly payments from their pensions to the lender for a fixed number of months, either by direct withdrawal from the pensioner’s bank account or from another bank account set up by the lender for the sole purpose of collecting the required payment.”

Consumers who signed up with these companies are in 23 different pension systems including the U.S. Department of Defense, U.S. Department of Veterans Affairs, and Washington Department of Retirement Systems.

The state says, ” Pension Funding, LLC claimed it did not make “loans,” but DFI confirmed one borrower and is confident more will be identified as the case proceeds”.

New York State and Massachusetts are also investigating pension advance schemes. State officials and those at the Consumer Financial Protection Bureau are interested in receiving complaints if you’ve been ripped off.

You can contact the Consumer Financial Protection Bureau (CFPB) at 855-411-2372 or www.consumerfinance.gov/servicemembers.

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Medical Bills Drag Down Credit Scores

May 20th, 2014

At some point a lot of of us discover that we owe a medical bill for something that we thought was paid long ago. Maybe we owe money, maybe it was a billing error. Nevertheless, medical debt can have a seriously negative impact on a credit score. That’s why it’s really important to check your credit report regularly. You can do it for free through annualcreditreport.com

The Consumer Financial Protection Bureau (CFPB) found that we’re “overly penalized for medical debt that goes into collections.” Once this shows up on your credit report it can affect your score by a least 10 percent. If your credit is already shaky, your score may drop as much as 22 percent and that could cost you tens of thousands of dollars when you borrow money to buy a home or use credit.

Your credit score is based on information in your credit report compiled by credit reporting agencies, or credit bureaus. These scores play a role in your financial life because most lenders decide to grant credit and set interest rates based on them.

Every time you make a late payment, it’s likely to be noted on your credit report and that decreases your credit score. Lenders will take more caution and charge higher interest rates to those who have a history of late or missed payments.

The Federal Reserve Board reports that over half of all collections on credit reports involve medical bills. Most medical debt goes directly to collection agencies. And in some instances consumers may not even be aware of a debt that has been sent to collections or that it is on their credit record. A collection account generally can stay on a report for up to seven years.

The CFPB took up the issues after it received many complaints from consumers. It found many credit scoring models don’t distinguish between medical and non-medical debt in collections and called for change.

CFPB Director Richard Cordray said, “Getting sick or injured can put all sorts of burdens on a family, including unexpected medical costs. Those costs should not be compounded by overly penalizing a consumer’s credit score.”