DIRS.INFO The most relevant business & tech news

Payment apps have come under scrutiny by lawmakers and regulators as their usage skyrockets. That ease of use has 80% of Americans using mobile payment apps, according to a recent survey by NerdWallet. Transaction volume across all payment app service providers in 2022 was estimated at about $893 billion, according to the Consumer Financial Protection Bureau. Lawmakers are also calling on payment app companies to clarify their reimbursement policy if consumers get scammed and to make it easier for users to report fraud. In the meantime, experts say that consumers need to understand how these apps work, the fees that may be charged and the risks involved in storing money in a mobile payment app.

Persons: Amy Zirkle, Sen, Sherrod Brown Organizations: Consumer Financial, Finance, Democratic, Capitol, Banking Locations: Ohio

Once the new "love interest" gains your trust, they may claim that someone close to them is sick, hurt or in jail. Another frequent lie from an online "love interest" is an offer to help invest in cryptocurrency. How to avoid romance scams: Talk to friends or family about a new love interest and pay attention if they're concerned. Don't share with a love interest any personal information, usernames, passwords or one-time codes that others can use to access your accounts or steal your identity. Employment scamsBusiness and job-related scams are another top category of financial fraud, and with companies laying off workers, these schemes are likely to continue in 2024.

Persons: —, Fraudsters, General Merrick B, Garland, Michael Bruemmer, Ted Rossman, you've, they've, it's Organizations: Istock, Getty, U.S, CNBC, FTC, cryptocurrency Locations: cryptocurrency

When employees who contribute to a 401(k) plan leave a company, they have options for what to do with that money. The guidance investors receive from a financial professional or firm about handling old 401(k)s has been exempt from investment advice rules. And, there are different standards for financial advice. The Biden administration wants investment advice given when making these decisions to come from a fiduciary — and the Department of Labor has proposed rules to make that happen. They also argue that existing laws have been established to safeguard consumers seeking financial advice.

Persons: Biden, Labor Department's, Ann Wagner Organizations: Department of Labor, Finance, Labor, Financial, Capital Markets

watch nowTraditional retirement plans aren't enoughFor years, employers' financial benefits mostly focused on offering robust workplace retirement plans. Yet, when asked where they would put an extra $600 provided by an employer, workers in the EBRI survey said they would spread it out — putting $192 toward funding retirement, $171 to emergency savings and $89 toward a health savings account, followed by paid time off, college savings and paying down college debt. Yet those numbers may increase as employers recognize the upsides for the worker and the workplace. New law gives employers more benefits flexibilityThe passage of Secure 2.0 legislation last year also gives employers more flexibility to offer emergency savings accounts. Starting next year, as much as 3% of an employee's paycheck can be automatically placed in an emergency savings account, up to a total of $2,500.

Persons: Jamie Grill, Buck, Chantel Sheaks Organizations: Center, U.S . Chamber of Commerce

"Financial inclusion," defined as individuals and businesses having access to useful and affordable financial products, has declined in the U.S., according to new industry research. The U.S. fell to fourth place, from second, this year in the second annual Global Financial Inclusion Index compiled by the Centre for Economics and Business Research in London and Des Moines, Iowa-based Principal Financial Group. Singapore's small size, with a population of just six million people, helps it in the ranking, but it is also boosted by its commitment to financial literacy, financial technology adoption and employer support. Consumer sentiment in the U.S. is down across financial systems and employers but is especially pronounced when it comes to the government. "It creates uncertainty and causes people to delay decisions that they might otherwise make about purchase around savings, and you don't want to paralyze people's decision-making around financial security," Dan Houston, Principal Financial Group Chair and CEO, told CNBC in an exclusive interview.

Persons: people's, Dan Houston Organizations: Centre for Economics, Business Research, Financial Group, Finance, Consumer, Supreme, CNBC Locations: U.S, London, Des Moines , Iowa, Singapore, Hong Kong, Switzerland, Sweden

The ADA is a federal law requiring employers to make "reasonable accommodations" — adjustments or modifications — for qualified job applicants or employees with a "known disability." How companies can create 'a culture of inclusion'Rob Koch speaks to CNBC on Zoom with ASL interpreter, Amelia Fruehsamer. Yet, employees with disabilities make up a sizeable share of the global workforce, by some estimates. PSEG held a yearlong campaign to try to build empathy and destigmatize what it means to have a disability. After its awareness campaign, PSEG found the percentage of people who identified as disabled in its workplace tripled.

Persons: Rob Koch, Amelia Fruehsamer, Koch, " Koch, Emily Ladau, PSEG, Steven Fleischer, Fleischer Organizations: CNBC, Slalom, Microsoft, Boston Consulting Group Locations: Seattle, Newark , New Jersey

You also may find more time to review your financial goals and decide whether you need a reboot. Here are three key actions financial experts suggest you take midyear. Oscar Wong | Moment | Getty Images"Make practice payments to yourself," said Corbin Blackwell, a CFP and senior financial planner at Betterment. Check your tax withholdingTo avoid having too little tax withheld from your pay and facing an unexpected tax bill or penalty at tax time next April, check your tax withholding. Adjusting your tax withheld now can also help with your cash flow and ensure you receive a bigger paycheck and smaller refund at tax time.

Persons: Stacy Francis, —, Jordan Awoye, Oscar Wong, Corbin Blackwell, Tim Maurer, Blackwell Organizations: Francis Financial, Awoye, CNBC, IRS Locations: New York, Bay Shore , New York, Atlanta, Charlotte

"I don't want to be having this same conversation about access to capital in 20 years," Johnson said. "I don't want my children, when they get ready to start a business, to be trying to figure out access to capital." Jill Johnson CEO of the Institute for Entrepreneurial LeadershipIn 2020, Johnson designed a program called the "Making of Black Angels" to educate prospective angel investors and connect them with Black business owners to help startups obtain critical funding. "Yet, we have certain groups that have been historically excluded from this access — and we need to change that. Becoming an angel investorTo make early-stage investments as an angel investor, you must be an "accredited investor," as outlined by the U.S. Securities and Exchange Commission.

Employers may go through 'culture shift'Prioritizing quality of life for employees is one of the biggest career trends of 2022, said management consultant Christine Spadafor. Workers continue to demand flexibilityChandra Sahu's job gives her the flexibility to work remotely. Sahu's job changes may reflect another trend some workplace management experts call a "career correction." "The right skills, and getting those, top getting that talent into the right positions within organizations." Remote work is here to stayRecognizing employees' need for flexibility will be essential to filling roles.

While the laws around workforce reductions vary by location and employer size, there are steps anyone can take to help cope with being let go. Negotiate your severance offerBill Varie | The Image Bank | Getty ImagesEmployers are not required by federal law to offer severance, but if they do, those contracts can often be negotiated. Companies offer severance to keep good will with former employees, keep workers from disclosing company secrets and to avoid potential lawsuits. Severance agreements typically come with a waiver of liability that has to be signed before any payment is made. While it varies based on the age of the worker and state laws, employees typically are given a few weeks before they have to sign.

Search resuls for: "Sharon Epperson Stephanie Dhue"

10 mentions found