Herb Weisbaum - The ConsumerMan

	MONEY MATTERS SURPRISE: FORGIVEN DEBT MAY BE TAXABLE Millions of Americans buried in debt took advantage of a debt settlement offer last year. Now it’s time to pay taxes on the part of the debt that was forgiven if it was more than $600. The IRS considers that taxable income reported on form 1099-C.			MONEY MATTERS CREDIT CARD 'SWIPE' SETTLEMENT NOT A DONE DEAL Final approval of a proposed $7.25 billion settlement about credit card "swipe fees" could be in jeopardy or at least delayed by more legal wrangling. Six big trade groups who brought the lawsuit say they oppose the deal.

	FEDS SAY SOME AUTO LOAN PRICES ARE BASED ON RACE The Consumer Financial Protection Bureau says some dealerships that offer third-party financing are discriminating based on race. A person of color often pays more for the same auto loan than a white person with a similar credit score.			MONEY MATTERS The truth behind Suze Orman's new debit card Is it really “better than cash” as she claims? The credit experts I spoke to give Suze’s card mixed reviews.

	MONEY MATTERS A BIGGER TAX BREAK FOR THOSE WHO TAKE PUBLIC TRANSIT This is because of a provision that was written into the law that averted the fall off the fiscal cliff. And Congress made this tax break retroactive for 2012. That means, there may be some extra money in your paycheck. A lot of people don't know about this.			MONEY MATTERS BANK FEES SOAR, FREE-CHECKING OFFERS DECLINE The 2012 Checking Survey from Bankrate.com shows checking account fees have hit unprecedented highs. At the same time, it’s becoming harder to get a truly free checking account, one with no strings attached.

	MONEY MATTERS SHOULD THE IRS REPORT UNPAID TAXES TO CREDIT BUREAU? Unlike many other debts owed to the federal government, unpaid taxes are not reported to credit bureaus. Federal law prohibits sharing this information. But Congress could always change that. What are the pros and cons of doing this?			MONEY MATTERS MORE STATES CONSIDER BAN ON CREDIT CARD SURCHARGES Charge a fee to use your credit card? It’s legal for merchants to do that, unless barred by state law. Ten states already ban such a surcharge and lawmakers in at least a dozen more states are considering such a ban.

	MONEY MATTERS SURPRISE: THE REAL DEAL ON PAYDAY LOANS A new report from the calls into question the main marketing claims used to sell payday loans. It says these loans are not affordable and often not short-term So why do 19 million Americans use them each year?			MONEY MATTERS PREPAID DEBIT CARDS: A SMART CHOICE FOR SOME Yes, these cards have a lot of fees. But a Pew study suggests that for someone who has a lot of overdraft fees, they may be cheaper than a checking account. Even so, these cards are not the same as a bank checking account.

	MONEY MATTERS KASASA CHECKING PAYS HIGHER INTEREST Maybe it’s time to get a "free" checking account that pays 3 to 4 percent interest – with no minimum balance required. Kasasa checking is offered at some community banks and credit unions. Do you qualify?			MONEY MATTERS DROWNING IN STUDENT LOAN DEBT? Those college bills may seem overwhelming, but you might have options. The Student Debt Repayment Assistant can point you in the right direction and suggest what to do if you’ve fallen behind on your loan payments.

	MONEY MATTERS AUTO INSURANCE RATES DON’T ALWAYS MAKE SENSE Good drivers are supposed to get the best insurance rates. But new research shows safe drivers with lower income are frequently charged more than those who recently caused an accident. How can this be?			MONEY MATTERS THE PITFALLS OF STUDENT DEBIT CARDS Many colleges and universities see debit cards as a convenient and more efficient way to distribute financial aid. Critics don’t like the hidden fees. There are alternatives you should know about.

	MONEY MATTERS UNCLAIMED LIFE INSURANCE BENEFITS TOP $1 BILLION It’s hard to imagine that anyone could be the beneficiary of a life insurance policy and not get the money. But it happens all the time. Is there an unclaimed payout with your name on it?			MONEY MATTERS FEDS WANT BETTER DISCLOSURE OF HOME APPRAISALS You can qualify for that mortgage, but if the appraisal comes in too low the loan might be denied. The Consumer Financial Protection Bureau has proposed a rule to insure a borrower knows well in advance what the appraisal shows.

	MONEY MATTERS A COSTLY TAX REFUND PRODUCT TO AVOID Now there's a way to pay for your tax preparation with no out of pocket expenses - use your refund. It's called a Refund Anticipation Check and consumer groups say it’s a waste of money.			MONEY MATTERS FINANCIAL AID “SHOPPING SHEET” CLARIFIES COLLEGE COSTS Most college students these days need some financial help to pay for their education. But it’s not always easy for families to compare financial aid packages from different schools. The New Shopping Sheet should help reduce the confusion.

	MONEY MATTERS SURCHARGE FEES FOR USING VISA/MASTERCARD? As of Jan. 27, some merchants who accept Visa or MasterCard credit cards are allowed to add a service charge to the purchase price, unless prohibited by state law. It’s part of the settlement in an antitrust lawsuit. Here’s what you need to know.			MONEY MATTERS FEDS TO MONITOR CREDIT REPORTING INDUSTRY America’s big credit bureaus are about to get some new scrutiny. The Consumer Financial Protection Bureau has adopted a rule that allows it to keep an eye on this industry which has been blamed for sloppy record Keeping that can have devastating consequences.

	MONEY MATTERS ARE BIG TAX REFUNDS GOOD OR BAD? Tax refunds are the biggest financial windfall most Americans get each year. But is this poor money management? Sometimes, but not always. Financial experts discuss the pros and cons.			MONEY MATTERS SIMPLE MORTGAGE DISCLOSURE FORM The Consumer Financial Protection Bureau wants mortgage disclosure forms to be short, simple and in plain English. It's proposed “Know Before You Owe” forms were unveiled this week. The agency wants your comments.

	MONEY MATTERS WARNING: TAX RELIEF SCAMS Tax relief services prey on people in distress. They promise to drastically reduce or even eliminate your tax debt and stop collections. Of course, they want your money upfront. Don’t do it!			MONEY MATTERS THE BEST WAY TO PAY WHEN YOU’RE ABROAD Use your credit card when you travel outside the country. It’s safer than cash, better than a debit card and you'll get the best currency exchange rate. But watch out for that foreign transaction fee!

	MONEY MATTERS WARNING: ONLINE PAYDAY LOANS SCAMS The offers are mighty tempting: a “guaranteed” pay day loan without a credit check. But to get the money you have to pay some fees up-front. Don’t do it! It’s a scam! Victims are losing thousands of dollars.			MONEY MATTERS REPORT FINDS 'CONFUSION' IN REVERSE MORTGAGES A reverse mortgage seems simple enough: a way for seniors to borrow against the equity in their home without selling it. But a federal study calls these loans “inherently complicated products” that are not easy for the average consumer to understand.

	MONEY MATTERS JUSTIN BIEBER TO PROMOTE DEBIT CARD FOR TEENS The Biebs will be the face for the new SpendSmart prepaid debit card which is billed an easy way for parents to teach their kids how to manage money. But is it? And what about the fees? Financial experts say there are better options.			MONEY MATTERS PREPAID DEBIT CARD FEES Why are so many people using these prepaid cards instead of checks or regular debit cards? Don't they know how many fees they might have to pay?

	MONEY MATTERS THUMBS DOWN ON FORCED ARBITRATION It may not seem fair, but a company can stop you from suing them to settle a dispute. Mandatory arbitration clauses are routinely used by all sorts of businesses. Are these legal? Is there anything you can do?			MONEY MATTERS BIG BANKS STILL AT RISK OF LOSING CUSTOMERS A high percentage of customers are so unhappy with their bank that they might pull their money. A new report from Javelin finds that customers at two mega-banks say they might switch financial institutions.

	MONEY MATTERS FREE TAX SOFTWARE FOR MILITARY FAMILIES TurboTax has a new version of its tax preparation software created specifically for military filers. It’s free for junior enlisted personnel (rank E-1 to E-5) in any branched of the Armed Forces until February 14.			MONEY MATTERS BANKS STILL HAVE CONFUSING OVERDRAFT RULES Researchers at the Pew Charitable Trusts carefully read checking account disclosures from the country’s largest banks and credit unions. They found long and confusing documents which can result in costly and unexpected overdraft penalty fees.

	MONEY MATTERS BILL TARGETS ‘ABUSIVE’ GIFT CARD FEES Despite their popularity, gift cards are not the same as cash. They can expire (unless prohibited by state law) and have non-use fees. A bill before Congress would ban all gift cards from expiring and prohibit inactivity fees.			MONEY MATTERS THE RIGHT CREDIT CARD CAN CUT TRAVEL COSTS Travel is never cheap. One way to cut the high cost is to use a rewards credit card. A few of these cards are offering extremely high bonuses right now. Card Hub compared more than 1,000 offers to find the cards with the best bonuses.

	MONEY MATTERS HOW TO SAVE ON AUTO INSURANCE Most people buy it and forget it. But that can be a costly mistake. Premiums vary wildly from company to company. Experts say you should comparison shop every few years. Here’s how to quickly see if you’re getting a good deal.			MONEY MATTERS Mounting student loans a 'debt bomb' waiting to explode A growing number of families facing financial ruin from staggering student debt can’t get relief through bankruptcy.

	MONEY MATTERS FEDS CRACK DOWN ON MISLEADING MORTGAGE ADS A federal review of ads by lenders and mortgage brokers finds problems. Some are misleading; others may be illegal. Here’s what to watch out for if you plan to take out a home loan or refinance.			MONEY MATTERS GAS CREDIT CARDS: THE BEST AND WORST Two new studies show that gas company credit cards are not the way to save money on your fill-ups.

	MONEY MATTERS WE SPEND THE GRUBBY BILLS AND KEEP THE CLEAN ONES Do we have an emotional connection to our money? Could be. A new study shows that the physical appearance of money can alter people’s behavior. We tend to spend more to get rid of worn out bills and hold on to new currency.			MONEY MATTERS Credit information that's 100% free These free offers are truly free with no hidden charges or fees.

	MONEY MATTERS CREDIT CARD COMPARISON SITES MIGHT BE BIASED The Internet makes it quick and easy to compare credit card offers. But in some cases, the information you get is biased by referral fees – and the site may not make that clear to users.			MONEY MATTERS AVOID NASTY OVERDRAFT FEES Will you pay a fee if you make a purchase with your debit card or get cash from an ATM and overdraw your checking account? Many people don't know. Congress could act to clear up the confusion.

	MONEY MATTERS STAY-AT-HOME SPOUSES UNFAIRLY DENIED CREDIT Good laws can have unintended consequences. As a result of the CARD act, many stay-at-home spouses were unable to get credit cards in their own name. The Consumer Financial Protection Board wants to change this.			MONEY MATTERS FEDS TO WATCH OVER DEBT COLLECTORS The Consumer Financial Protection Bureau has heard all the horror stories about abusive collectors. Starting in 2013 it will oversee the country’s larger debt collection companies to make sure they treat people fairly.

	MONEY MATTERS BALANCE TRANSFER OFFERS WORTH A LOOK Credit card companies are currently offering some of the best terms ever on balance transfer offers. If you have a large balance you want to pay down - and good credit - it may time to make the move.			MONEY MATTERS WALMART WANTS TO BE YOUR BANK The world's largest retailer rolls out a prepaid debit card that can be used without paying any fees. Bluebird by American Express is designed to be a checking and debit alternative.