Weekly Coffee Break: Roundup of Industry News
Every week, we’ll share a roundup of industry news and fun links because these resources have informed, entertained, and inspired us.
Here’s our weekly roundup of industry news:
How to start investing if you have $100 or less – The thought of investing can feel intimidating, particularly if you don’t have a lot of money to work with. But new apps and trading platforms are making it easy to start investing with as little as $5. And they can help you spread your risk across multiple stocks and bonds to achieve the kind of diversification you would have with a much larger portfolio worth thousands of dollars.
Online Fraud Victims Need More Help from Banks to Recover – Steve Unger was startled when a Wells Fargo banker called him out of the blue to say one of his online accounts had been violated and someone had viewed his account numbers. “I saw no unusual activity on my accounts, and my experience was that my account numbers were always masked,” he recalled.
CFPB debt collection proposal called most significant change in 30 years – Re3 Conference panel discussion moderator and Intellaegis president John Lewis needed some time to comb through the debt collection regulation proposal released by the Consumer Financial Protection Bureau about two weeks ago. While much of the CFPB’s latest material is geared toward third-party collections, Lewis cautioned repossession companies that are already struggling to maintain compliance demands given by their auto finance company clients.
Let’s Identify a Replacement for Yahoo Finance – Conversation on the Fintech Genome – As Yahoo Finance was sold to Verizon and Matt Levine (Bloolmberg View) asked the existential question “What may become of the VerizAolHoo entity and LBRY (Left-Behind Remainder Yahoo)”; a great conversation started on the Fintech Genome:
“Is anybody working on a replacement of Yahoo finance?”
Bernard Lunn, a long time user of the free Yahoo Finance fundamental data services, had spotted the decline of the old-time disruptor (Yahoo Finance) close to 2yrs ago!
5 Things You Should Never Keep in Your Wallet – Years ago, while I was at a crowded outdoor market, someone reached into my purse and plucked my credit card and debit card from my wallet. I didn’t even know they were missing until I got home and discovered a message on my answering machine from my card company, alerting me that there had been suspicious activity on my account.
I quickly canceled my cards, contested the fraudulent charges and recovered — without a financial loss — from the incident. However, I consider myself fortunate. The situation might have been far worse if I’d been carrying other things in my wallet — items that could have created a financial nightmare for me if thieves had gotten their hands on them.
“Passion Is the Result, Not the Cause, of Taking Action” – “Pursue your passion” is unhelpful advice for a handful of reasons, but mostly because it suggests we should stick to a single path we already feel strongly about. As personal finance expert Stefanie O’Connell explains, passion isn’t something you have, it’s something you discover.
You only discover your passion when you take action—how do you know whether or not you love something if you’ve never experienced it?