News from the Reference Desk Category: Finance

Spanish Language Resources and Tools from the CFPB

According to the U.S. Census Bureau, in 2018, the Hispanic population in the U.S. was made up of just under 60 million people, or nearly one-fifth of the nation’s population. The Consumer Financial protection Bureau (CFPB) has a selection of financial education tools and resources for our nation’s diverse Hispanic and Latino community that are available in both English and Spanish. It recognizes the great variation in the needs, interests, and financial well-being of Hispanic and Latino households. Its resources are intended to be useful for individuals and families during many different stages of their economic life, as they pursue the goals and aspirations that are important to them.

Public Library Association and Capital One Offer Tools to Increase Financial Well-Being

The Public Library Association (PLA) and American Library Association (ALA) are working with  to bring innovative financial well-being resources to public libraries across the U.S. Through this project, PLA and ALA will help public libraries nationwide learn about Capital One’s , which teaches consumers basic mobile banking skills. Ready, Set, Bank is designed specifically for older adults, and offers numerous, unbranded videos to guide learners through every step of the process, with overviews and step-by-step tutorials to help them manage their finances online — regardless of where they bank. The curriculum is also available in Spanish, through .

Tip of the Month: Protection Against Mortgage Closing Scams

Scammers are increasingly targeting real estate professionals, seeking to compromise their email in order to monitor email correspondences with clients and identify upcoming real estate transactions. You may be impacted during the closing process as scammers send spoofed emails to home buyers – posing as the real estate agent, settlement agent, legal representative or other trusted individuals – with false instructions for wiring closing funds.  Get information about how you can avoid a mortgage phishing scam and what to do if it does happen.

May Is National Older Americans Month

Are you an older American interested in improving your financial literacy? Get informed with free tools and resources available at the CFPB’s Working with Older Adults webpage. You can also download guides for specific topics such as Reverse Mortgages and Managing Someone Else’s Money, as well as find informational blogs about related topics. Free publications—such as Money Smart for Older Adults and Understanding the Benefits of Social Security (in English and Spanish)—can be ordered here. The Administration for Community Living is the federal government agency that sponsors this observance. Get more information here.

Tip of the Month: New Protections for Servicemembers and Veterans

In May 2018, the President signed new protections for servicemembers into law.  In addition to requiring free security freezes and one-year fraud alerts at the three nationwide credit reporting agencies, this law also addresses a number of key financial issues for the military, including:

  • -Holding lenders to more stringent requirements when they participate in VA’s refinance programs
  • -Ensuring continued foreclosure protections for servicemembers up to one year after they leave active duty
  • -Prohibiting medical debt that should have been paid by the VA to be reported as part of a veteran’s credit history
  • -Providing free credit monitoring for active duty military, including the national guard

Get more information about these protections here.