Some move, others trapped: What can be done about the effects of extreme weather disasters?

If it seems like extreme weather disasters such as hurricanes and wildfires are becoming more frequent, severe and costly, it’s because they are. And that trend is influencing people’s movements.

Since 1980, the United States has experienced 258 “billion-dollar weather and climate disasters” – defined as disasters resulting in $1 billion or more in economic losses – totaling $1.75 trillion in losses, according to the National Oceanic and Atmospheric Administration. About two-thirds of these disasters and three-quarters of these losses have occurred since the early to mid-2000s.

Natural disasters force millions of people to move every year, a trend which is expected […] Read more

CPD: Managing common mental health disorders and their effects on long-term absence

Common mental health disorders can have a devastating impact on individuals and their ability to remain in or return to work, as well as have a knock-on effect on employers and the economy. Occupational health can play a pivotal role in supporting those in need as well as highlighting the positive links between work and health, explain Racheal Arkle and Anne Harriss.

Common mental health disorders (CMD) are increasing in the UK. The 2014 Adult Psychiatric Morbidity Survey cited by McManus et al (2017) showed an increase since 2000 in CMD to one in five sufferers in the female adult population, […] Read more

Equifax working with regulators and govt to reduce effects of COVID-19

Equifax UK, the business and consumer insights expert, is working actively with regulators, government and credit providers to minimise the effects of COVID-19 on UK consumers’ credit files.In addition, the company is looking to support lenders as they navigate the various financial support measures recently put in place, it said.

The firm has agreed new guidance for creditors with a cross-industry working group, which will minimise the change to consumer credit files when lenders agree to a payment holiday or emergency payment freeze.

Furthermore, Equifax is working with CreditLadder to ensure anyone who shares their payment data with Equifax via CreditLadder sees […] Read more

8 Side Effects of Having a Bad Credit Score

A good credit score gives you access to premium credit cards, better loan products and more favorable interest rates.

But if you have a bad credit score — somewhere in the FICO range of 300 to 579 or VantageScore range of 300 to 600 — you’ll miss out on these deals and often pay much higher in interest on credit cards, loans and mortgages.

A bad credit score can make life difficult in a number of ways, and it can even delay retirement by costing you more money over time. But improving your credit score is about much more than luck, and it’s only possible if […] Read more

Protect Your Credit Score From Economic Effects Of Coronavirus Pandemic

Goksi / Shutterstock

Keeping up with your credit score can be a daunting task during the best of times. In the face of current economic uncertainties surrounding the coronavirus pandemic, though, good credit may have even more impact on your financial health.

“While, during tough times like this, it is important to have your score as healthy as possible in case you need to get a loan or a credit card to get by, you also can only do the best you can,” says Beverly Harzog, credit card expert and consumer finance analyst for U.S. News & World Report.

But for many […] Read more

3 Effects the Equifax Settlement Could Have on Breach Litigation

They say that hindsight is 20/20—which unfortunately is no help to Equifax right now. Last week, the credit reporting agency finalized a $1.4 billion settlement with 147 million consumers who were impacted by the company’s 2017 data breach. Included in the agreement were a combined 10 years of credit monitoring and identity protection services.

While not every breach approaches the size or scope of Equifax, the settlement may illustrate some emerging trends—as well as a few nagging questions—over the way such incidents will be litigated in the future.

The Messaging Could Get Another Edit

In a post-Equifax […] Read more

Border Pictures Exposed; GAO Warns of Lingering Equifax Breach Effects

The U.S.-Mexico border at Tijuana, Mexico. Photo credit: Shutterstock

Another data exposure, this time involving 100,000 photos from a U.S. Customs and Border Protection subcontractor; and the lasting impact of the 2017 Equifax breach were recent cybersecurity news highlights.

A U.S. Customs and Border Protection subcontractor experienced a data breach exposing the photos of tens of thousands of travelers coming in and out of the United States, the agency revealed in what it described as a “malicious cyber-attack.” The transfer of identifying traveler photos and license plate images to a subsequently-hacked CBP […] Read more

Canada’s Mortgage Stress Test: Intended and Unintended Effects

Canada’s largest cities have continued to see declining housing sales and prices since the mortgage stress test was introduced in 2018. But is this an intended effect or merely a coincidence?

Mortgage Stress Test Recap

The mortgage stress test requires that borrowers be able to qualify for an interest rate that is 200 basis points higher than the actual contracted rate. This is meant to ensure that borrowers could still pay their mortgage, even if rates were to rise, by avoiding offering mortgages that are significantly more than a borrower’s economic situation can handle.

As a backdrop, a 2018 survey of homeowners conducted […] Read more