Category Archives: Legislation That May Affect Your Net Worth
Extended Unemployment Benefits and Homebuyer Credit
President Obama signed a bill Friday extending unemployment benefits and the federal tax credit for first-time home buyers. It also creates a new tax credit for repeat buyers who purchase a new primary residence. Read the full article or view the bill.
Coming Soon: New Rules to come for Credit Card “Fine Print”
Sweeping new restrictions on credit-card companies would ban extra fees and fluctuating rates and arm tens of millions of consumers with more information on their debt. Read the full article at WSJonline.com.
Congress Considering: Bill Proposed to Change Retirement Plan and Disclosure in favor of the Participant
6/23/2009 Introduced. This legislation amends the ERISA rules (that govern retirement plans) to keep the relationship between the employer and the plan provider at an arm’s length. It will provide special reporting and disclosure rules to make fee structures more transparent to the participants. The bill limits the services that can be offered, the types [...]
Recently Passed: Financial Literacy Month for All Americans
4/29/2009 Passed House without amendment. (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Supports the goals and ideals of Financial Literacy Month, including raising public awareness about financial education. Recognizes the importance of managing personal finances, increasing personal savings, and reducing personal debt in the [...]
Congress Considering: Congress to Speed up Credit Card Law
Both consumers and credit card customers scratched their heads over the timing of the Credit Card Reform Act – it doesn’t kick in until February 2010. Why the delay? Nobody seems to know for sure. Now, Congress is revisiting the issue – and is exploring the notion of triggering the new law in December. Read [...]