Reforms are needed to protect seniors from the potential pitfalls of reverse mortgages, says Consumers Union, the advocacy arm of Consumer Reports, and the California Advocates for Nursing Home Reform, which today urged the Consumer Financial Protection Bureau to adopt such measures.

Retailers may be in for disappointing back-to-school sales this year. The Consumer Reports Index, a gauge of consumer financial health, shows that Americans' retail spending declined slightly in the past month. In addition, purchases registered a sharp decline when compared to a year ago.

Judging from the Consumer Financial Protection Bureau's amazing output in the past year, you'd think the watchdog agency had been around for years.

The Consumer Financial Protection Bureau announced this week a national public inquiry into financial elder abuse. The CFPB says it seeks to learn more about the many ways that seniors are exploited into giving up their financial assets, and to find better ways to educate seniors on how and where to look for good, reliable financial advice.

One in five Americans over age 65 have been financially swindled, says a new report by Investor Protection Trust, a nonprofit organization focused on investor education. That estimate lends added urgency to the agenda of a White House symposium being held today in observance of Elder Abuse Awareness Day. The symposium brings together experts from the public and private sector to focus on preventing and prosecuting elder financial abuse and other crimes against the elderly.

In case you haven't heard, today is "529 Day," part of an effort to create some buzz around the tax-advantaged college savings vehicles known as 529 plans.

On the third anniversary of the Credit Card Accountability Responsibility and Disclosure Act being signed into law, the average debt has declined, but many Americans are still using credit cards as a way to cover basic living expenses, according to a national survey from the policy center Demos.

For the fourth time in 14 years, the Federal Trade Commission has taken action against the nation's largest charge-it-to-your-phone-bill company, Billing Services Group (BSG), for alleged "cramming," or placement of unauthorized charges on consumers' phone bills.

Interest rates on new subsidized Stafford student loans will double to 6.8 percent if Congress doesn't extend a cap that has helped make the loans more affordable.

A college graduate is likely to earn $570,000 more than a high school graduate over a lifetime, according to the annual 529 Report by College Savings Plans Network, and students who have a college savings account in their name are six times more likely to get a higher education than those who do not.

The Consumer Financial Protection Bureau has launched the next phase of its Know Before You Owe student loan project by releasing the Financial Aid Comparison Shopper, an interactive, online tool you can use to help plan for college costs.

Once tax season ends, do you dread finding room for yet another fat folder in an overstuffed closet, file cabinet or shelf? The IRS says all those stored papers may be overkill.

With the nationwide average price for a gallon of regular gas costing nearly $4, the pain of filling up your gas tank might be alleviated a little by using a credit card that pays you something back each time you visit the pump. But choosing a gas-company card could have downsides. For example, credit cards from Citgo, Phillips 66/Conoco, and Shell carry interest rates of 25 percent, which would wipe out any rewards you earned if you don't fully pay off your tab at the end of the monthly billing cycle.

It's estimated that Americans owe more than $900 billion in federal and private loans, and that more than 36 million are saddled with federal student debt, as we note in our report posted today.

Two reports released this week focus on how little Americans know about options for claiming Social Security retirement benefits, and how much they could gain financially by knowing more.