Today's half-hearted demonstrations marking the birthday of the Occupy Wall Street movement served as a reminder that catchy slogans and funny hats do not add up to a political movement. more

The Russell family of Kirkland, Wash., makes about $230,000 with Charles Russell, 43 years old, working as a systems analyst for Microsoft Corp. According to the U.S. Census Bureau, that puts them among the top 5% of American households. But their affluence might not be apparent based on the way Mr. Russell conducts his personal finances. He has no bank account, having dumped it due to irritation over fees and overdraft penalties. Instead, for more everyday transactions he uses a debit-card offered by NetSpend Holdings Inc. 

According to a new report by the Pew Charitable Trusts, payday loan borrowers spend $7.4 billion annually at 20,000 storefront lenders and websites. But the report also concludes that the industry is fraught with risks for consumers. more

A recent analysis by the Pew Charitable Trusts concluded that “Americans raised at the top and bottom of the income ladder are likely to remain there themselves as adults.” The study found that two-thirds of Americans end up in the exact same quintile of the income distribution as their parents, or below it. more

Prepaid debit cards, which are popular with consumers who are too poor for checking accounts, are too lightly regulated and should face more restrictions, according to a study released by Pew Charitable Trusts released on Wednesday.

Bowing to pressure from consumers and Congress, major banks are simplifying the information they provide to customers about their most basic product — the checking account. Bank of America Corp. said Wednesday that it was adopting plain language disclosures that

Banned from tightening Medicaid eligibility in recent years, many states have instead slashed optional benefits for millions of poor adults in the program.

Once upon a time in America, it was expected that most children would surpass their parents on the income ladder. However, a new study released by The Pew Charitable Trusts has found that although most Americans are earning a bit more than their parents, only a meager one-third of the current generation will surpass their parents in wealth and income and climb to a new rung on the economic ladder.

The Pew Charitable Trust, as part of a project titled “Still Risky: An Update on the Safety and Transparency of Checking Accounts,” has looked into so-called senior checking accounts at four of the largest United States banks and one large credit union.

The Times Tribune: Changes in the way some criminal offenders are sentenced, incarcerated and paroled have already saved the state money and most of the people affected—prosecutors, defense attorneys, county governments—say the new law is working well.

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Do you know what bank fees you're paying? Many banks charge fees for behaviors that customers don't realize are costing them money. Among them are foreign transaction fees and, perhaps most surprisingly, fees for receiving paper statements.

California is among states with the least regulation of payday lending, allowing loans that if renewed repeatedly would sock borrowers with 391% annual interest rates or higher, according to a new study that classifies states as permissive, restrictive or in