Last week, Wells Fargo Bank agreed to pay $185 million in fines and refund customers some $2.5 million. Why? Mellody: It’s pretty straightforward. Some employees at Wells Fargo were caught illegally signing customers up for products – credit cards, deposit accounts, other items – that they had not requested. According to Wells Fargo, the company’s […]
You have an interesting topic on tap for us this morning: lotteries. Mellody: We are indeed talking about lotteries this morning, but not in a good way. You may have noticed that lately it seems like the major multi-state lottery jackpots have been getting larger and larger, with more frequency. And you would be right! […]
What do Black Americans need to know about the racial wealth gap? Last week was a glass half-full segment, with a stellar jobs report. I want to talk about a new report from the Corporation For Enterprise Development (CFED) and the Institute For Policy Studies. The report examined the growing racial wealth divide for Black and […]
We’ve all tried to get out of a traffic violation. Maybe it was by reasoning with the officer or explaining your case with passion as to why you were in violation. Then you have Margaret Garcia, a Florida resident, was pulled over by police after they found her to be speeding on a highway back […]
You’ve probably heard time and again not to lend money to family members or close friends. The horror stories are plenty: at best, people say you shouldn’t expect to be paid back, at worst, it can destroy an otherwise positive relationship. This is the general wisdom, so of course, many of us avoid it altogether. But […]
America's Wealth Coach Deborah Owens stopped by NewsOne Now to discuss how Britain's exit will impact Blacks and the U.S. economy and your pocket.
What do we need to know about the shocking development of Britain leaving the European Union? Mellody: This is a historic event and it will have broad economic and political consequences in the UK, Europe and here in the United States. First, a little background on the subject. To deal with political pressures ahead of […]
In today's unpredictable economy, many companies are offering their employees buyouts as a way to shrink the size of their pension plans and ultimately reduce their longterm financial obligations.
How are race and spending habits linked? We have heard a lot in recent years about economic inequality, but most, if not all, of the discussion has focused on income inequality. However, a new study out of Duke University, and highlighted in the Atlantic, points to another way economic inequality persists between white and Black […]
How are new home loan trends are impacting communities of color? It is a very important trend and one that we need to keep our eyes on. In the wake of the housing bubble, regulators moved to rein in subprime lending, the type of lending that led to the housing crisis. As a result, we […]
Today’s Money Mondays topic is crowdfunding. Why? Mellody: As of last week, new rules rolled out by the Securities and Exchange commission will permit anyone, not just the well-heeled, to risk their own money investing in small companies in exchange for a stake in the business. Essentially, it allows anyone to act as a venture […]
Owens joined Roland Martin on NewsOne Now to share seven tips that will help you build a million dollar 401k plan and retire in financial security.