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NEWS
September 6, 2010
There is no question that financial education is sorely needed in our educational system ("No-frills financial primer — for adults," Sept. 5). However, to focus on consumers' need for skepticism is to skew our understanding of the problem such teaching is meant to correct. People who trust others are frequently blamed for their naiveté when their trust is betrayed, a common form of blaming the victim. In advising us to recognize that mortgage brokers, loan officers, et al., are not "just being nice" when they fail to verify loan-worthiness and thus put us at risk, financial experts obscure the elephant in the room: the fact that those who control the gateways to our financial security will lie, cheat and steal in order to make more money for themselves.
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BUSINESS
By Chris Korman, The Baltimore Sun | July 31, 2013
SECU, the Linthicum-based credit union, will pay $4.75 million over the next 10 years to have Towson University's new basketball facility called SECU Arena. The financial institution will hold a news conference at the university today to announce the deal, which will pay $475,000 annually and includes the use of one of the building's two large corporate suites and access to multipurpose rooms in the $70 million, 5,200-seat arena. Carmen David Mirabile, SECU's assistant vice president of marketing, said the credit union has focused much of its marketing spending in recent years on creating partnerships throughout the University System of Maryland.
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BUSINESS
By Lorene Yue | July 11, 2004
Most high schools don't spend much time teaching financial literacy, which could explain the reason why personal bankruptcy rates among 25-year-olds have been climbing at an alarming rate. To help combat that situation, the National Endowment for Financial Education has created a virtual course for students and teachers on its Web site: www.nefe.org/hsfppportal/index.html. Called the NEFE High School Campus, the program offers a six-part lesson plan that covers the importance of financial planning, having a career, creating a budget, understanding credit and getting insurance.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 3, 2013
Freeman A. Hrabowski III, president of the University of Maryland, Baltimore County, has joined the board of T. Rowe Price Group as an independent director, the Baltimore-based investment firm announced Thursday. Hrabowski has led the university since 1992, and was recognized last year by Time magazine as one of the 100 most influential people in the world. According to Price, Hrabowski sits on a number of civic boards, including the Alfred P. Sloan Foundation, the Urban Institute, the Marguerite Casey Foundation and the France-Merrick Foundation.
BUSINESS
By Dan Thanh Dang and Dan Thanh Dang,SUN STAFF | April 8, 2004
Citigroup, the country's largest financial institution, launched a $200 million campaign yesterday to support consumer education programs in nearly 100 countries around the world over the next decade. The new financial education program will create an Office of Financial Education to coordinate programs globally and add a volunteerism initiative, which has been designed to encourage Citigroup's 275,000 employees to devote time to supporting financial education and other charitable causes.
BUSINESS
By Eileen Ambrose | February 10, 2002
YOU DON'T hear many good things about Enron Corp. these days. But if there's one positive aspect, says AARP's president, it's that the Enron debacle has highlighted the need for Americans to understand the investment process. Numerous studies and surveys in recent years have revealed that Americans' financial knowledge is inadequate for a world where they must fund their own retirement and face a growing choice of mortgages, credit cards and investments. The consequences of not knowing financial basics are costly, according to statistics compiled by the Senate Committee on Banking, Housing and Urban Affairs: As many as half of those who borrow from subprime lenders could actually qualify for cheaper conventional loans.
BUSINESS
By EILEEN AMBROSE | March 13, 2005
FEW, IF ANY, would disagree that Americans could use some financial education. Steep levels of credit-card debt, inadequate retirement savings and even rising bankruptcy filings during good economic times indicate we can use some help with understanding finances. Nevertheless, bankruptcy legislation that requires debtors to undergo credit counseling and financial education - believed to be the first federal mandate for financial lessons - raises some questions. Who will provide the counseling and education?
BUSINESS
Eileen Ambrose | September 7, 2011
Military service members are often taken advantage of by unscrupulous lenders. It's so bad, that Congress required that the new Consumer Financial Protection Bureau have a special office designed just to deal with the education and protection of service members and their families. Now the CFPB is seeking public input on products and services tailored to service members so it can use the information to design education and outreach programs for the military. This initiative is headed up by Holly Petraeus, the CFPB's Assistant Director for the Office of Servicemembers Affairs and, yes, the wife of the former general.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 3, 2013
Freeman A. Hrabowski III, president of the University of Maryland, Baltimore County, has joined the board of T. Rowe Price Group as an independent director, the Baltimore-based investment firm announced Thursday. Hrabowski has led the university since 1992, and was recognized last year by Time magazine as one of the 100 most influential people in the world. According to Price, Hrabowski sits on a number of civic boards, including the Alfred P. Sloan Foundation, the Urban Institute, the Marguerite Casey Foundation and the France-Merrick Foundation.
BUSINESS
By Chris Korman, The Baltimore Sun | July 31, 2013
SECU, the Linthicum-based credit union, will pay $4.75 million over the next 10 years to have Towson University's new basketball facility called SECU Arena. The financial institution will hold a news conference at the university today to announce the deal, which will pay $475,000 annually and includes the use of one of the building's two large corporate suites and access to multipurpose rooms in the $70 million, 5,200-seat arena. Carmen David Mirabile, SECU's assistant vice president of marketing, said the credit union has focused much of its marketing spending in recent years on creating partnerships throughout the University System of Maryland.
BUSINESS
Eileen Ambrose | September 7, 2011
Military service members are often taken advantage of by unscrupulous lenders. It's so bad, that Congress required that the new Consumer Financial Protection Bureau have a special office designed just to deal with the education and protection of service members and their families. Now the CFPB is seeking public input on products and services tailored to service members so it can use the information to design education and outreach programs for the military. This initiative is headed up by Holly Petraeus, the CFPB's Assistant Director for the Office of Servicemembers Affairs and, yes, the wife of the former general.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | March 8, 2011
Active-duty service members and their families have a new financial tool in their arsenal: free FICO credit scores. The FINRA Investor Education Foundation is making the widely used credit score and other financial tools from myFICO.com available for free as part of its military outreach program. The usual price for this FICO standard service is $19.95. Scores play a big role in the credit decisions of banks and others, making this three-digit number critical to service members and civilians alike.
NEWS
September 6, 2010
There is no question that financial education is sorely needed in our educational system ("No-frills financial primer — for adults," Sept. 5). However, to focus on consumers' need for skepticism is to skew our understanding of the problem such teaching is meant to correct. People who trust others are frequently blamed for their naiveté when their trust is betrayed, a common form of blaming the victim. In advising us to recognize that mortgage brokers, loan officers, et al., are not "just being nice" when they fail to verify loan-worthiness and thus put us at risk, financial experts obscure the elephant in the room: the fact that those who control the gateways to our financial security will lie, cheat and steal in order to make more money for themselves.
BUSINESS
By Janet Kidd Stewart and Janet Kidd Stewart,Chicago Tribune | May 6, 2007
Dreaming of retiring and then sailing the world? You may want to try it the other way around. Big-ticket purchases at or early into retirement can crush even well-financed portfolios, experts say, particularly if they're accompanied by a period of poor performance in the financial markets. Some retirement advisers are beginning to urge clients to take the cruise, buy the new home or renovate the kitchen before retirement, not after. Even if it means forgoing retirement account contributions in the final year or two of employment, getting those costly items out of the way while you still are earning paychecks can be worth it, said Christine Fahlund, senior financial planner for T. Rowe Price.
BUSINESS
By CAROLYN BIGDA and CAROLYN BIGDA,TRIBUNE MEDIA SERVICES | May 14, 2006
When Don Phillips, a managing director of Morningstar Inc., was 13 his father bought him 100 shares in a mutual fund. It was Phillips' first investment. And though not the most exciting gift at the time, it became invaluable to him. "My dad sat me down and explained what a mutual fund is," he said. "But more importantly, I saw that investing was something he did and that it was part of being a responsible adult." Parents teach us a lot about money management, even if we never discuss with them the finer points of investing.
BUSINESS
By EILEEN AMBROSE | March 13, 2005
FEW, IF ANY, would disagree that Americans could use some financial education. Steep levels of credit-card debt, inadequate retirement savings and even rising bankruptcy filings during good economic times indicate we can use some help with understanding finances. Nevertheless, bankruptcy legislation that requires debtors to undergo credit counseling and financial education - believed to be the first federal mandate for financial lessons - raises some questions. Who will provide the counseling and education?
NEWS
May 23, 2004
Class of 2003 wins Leadership Carroll challenge The Carroll County Chamber of Commerce's Leadership Carroll recently held Alumni Challenge Part I to highlight the program. Since 1992, budding leaders have participated in the 10-month program to enhance their knowledge of the community, government and business. With more than 130 graduates, each class was challenged to send the highest percentage of alumni to the Leadership Carroll alumni luncheon April 29. The Challenge Part I winner was the Leadership Carroll Class of 2003.
BUSINESS
By Rhasheema A. Sweeting | August 29, 2004
Parents and educators agree that financial education starts at home, but for parents who never were taught money skills, the prospect of teaching kids can be overwhelming. M-tPeople are wrestling with how to make it happen,M-v said Susan Beacham, founder of Illinois-based Money Savvy Generation, an organization that offers resources to parents and students. M-tWhatM-Fs that first line? What do I say? People still donM-Ft feel comfortable talking about money.M-v And many agree that the sooner parents start, the better.
BUSINESS
By Rhasheema A. Sweeting | August 29, 2004
Parents and educators agree that financial education starts at home, but for parents who never were taught money skills, the prospect of teaching kids can be overwhelming. M-tPeople are wrestling with how to make it happen,M-v said Susan Beacham, founder of Illinois-based Money Savvy Generation, an organization that offers resources to parents and students. M-tWhatM-Fs that first line? What do I say? People still donM-Ft feel comfortable talking about money.M-v And many agree that the sooner parents start, the better.
BUSINESS
By EILEEN AMBROSE | August 22, 2004
OFTEN, IT'S some major financial decision appearing on the horizon that causes do-it-yourself investors to throw in the towel and seek professional help. And once they decide to hire an adviser, they typically ask friends, family and co-workers for the name of a broker or financial planner and consider their homework done. Far from it. "If your entire financial future rests on somebody, it doesn't hurt to do as much research as you would to buy a car," said William Droms, a finance professor at Georgetown University.
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