The latest on the Equifax settlement, safe deposit boxes, and unpaid lunch debt
Here are my favorite personal finance reads from around the web this week.
Equifax will pay up to $700 million to the nearly 150 million people affected by the 2017 data breach, as well as $175 million to the states and $100 million to the CFPB in civil penalties. They will also provide individuals with six free credit reports a year for seven years starting in January 2020.
—The New York Times
There are an estimated 25 million safe deposit boxes in America, but there are no federal laws that require banks to compensate customers if their property is stolen or destroyed. Numerous complaints and lawsuits have emerged when customers found their deposit boxes had been removed or went missing.
—The Washington Post
A Pennsylvania school district recently sent threatening letters to parents telling them to pay their lunch debt or risk losing their children to foster care. The unpaid lunch debt ranged from $12.50 to $450. It’s just the latest example of this “lunch shaming.”
According to a 2018 National Endowment for Financial Education survey, 41% of Americans who have combined finances admitted they’ve misled their partner about money. This financial infidelity can be a warning sign for larger issues like illegal activity.
Craving more financial finds? Here are my latest blog posts!
You’ve heard it from a lot of big name “experts”: Just cut out your morning latte or avocado toast and you’ll have a significant pile of money. But that’s just not true.
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