Personal Finance

Financial News Roundup: Common Newlywed Financial Mistakes, BofA ‘Hinders’ Investigation

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Experts warn newlyweds against common financial mistakesToday’s top news headlines feature the results of a recent poll showing unemployment is the No. 1 concern of many demographics and experts weigh in on the most common financial mistakes newlyweds make. Plus, find out why Bank of America may be the target of harsher investigation tactics.

Officials Say Bank of America Crippled Investigation Into Foreclosure Practices
The Huffington Post

Federal auditor William Nixon has asked the U.S. Department of Justice to compel testimony from Bank of America regarding its foreclosure practices, after he said the bank put up significant roadblocks that hindered his team’s investigation. Nixon claims the institution withheld documents, prevented investigators from interviewing employees and limited the scope of questioning to certain topics.

Experts Discourage Newlyweds From Making Common Financial Mistakes
The Wall Street Journal

Financial professionals say newlyweds who speak openly about their income and spending may circumvent some of the most commonplace money issues couples face early on in their marriage. Tackling debt as a team, utilizing Web-based money resources and tracking financial progress each day can help teach newlyweds to work together to accomplish their goals.

Some Demographics Consider Unemployment More Problematic Than General Economy
The Huffington Post

The results of a recent Gallup poll reveal certain groups of Americans consider the nation’s unemployment rate to be a more damaging and pressing issue than the general economy. The poll shows 29 percent of respondents say the general economy is the country’s biggest problem vs. 26 percent who name unemployment as the most immediate issue. But overall, African Americans, senior citizens and individuals with an income below $30,000 were more likely to list unemployment as the primary issue of concern.

Mobile Banking May Not Be As Popular Among Consumers As Experts Think
Credit.com

A recent study shows consumers may only have lukewarm feelings toward mobile banking platforms, opting instead to manage their finances online. The results show more than 65 percent of individuals utilize online banking to pay bills and make other key transactions, while only 10 percent access their accounts via mobile features.

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