Today’s episode of the Consumerism Commentary Podcast features two guests. In the first segment, Tom Dziubek talks with Carrie Schwab-Pomerantz, president of Charles Schwab Foundation. Carrie discusses the findings of their 2010 Families & Money Survey and also talks about the financial tools available at Schwab MoneyWise.
In the second segment, Tom speaks with Jim Kelly, COO of ING Direct about recent bank overdraft fee legislation.
Families & Money Survey, Carrie Schwab-Pomerantz & Bank Overdraft Fees, Jim Kelly: S03E10 / 81 & 82
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Table of contents
[00:00] Introduction from Tom Dziubek
[00:38] Interview with Carrie Schwab-Pomerantz
– [00:49] The 2010 Families & Money Survey
– [01:29] Defining the “sandwich generation”
– [02:09] Supporting adult children now as opposed to in the past
– [05:05] Why adult children are still reliant upon their parents
– [06:02] Chores and financial responsibility
– [07:53] Whether children should follow their dreams or find a job to pay the bills
– [08:36] Parents’ perceptions of their children’s financial success
– [09:22] Growing up as Charles Schwab’s daughter
– [12:12] The sandwich generation’s valuation of their own retirement vs. their kids’ well-being
– [13:23] A silver lining to the recession
– [14:04] The sandwich generation’s biggest concerns right now
– [15:28] The Charles Schwab Foundation
[18:22] Interview with Jim Kelly
– [18:33] The new overdraft fee legislation and who’s most affected
– [19:22] How much money banks make on overdraft fees
– [19:41] ING Direct’s Electric Orange’s approach to overdrafts
– [21:13] How ING Direct customers compare to others regarding overdrafts
– [22:00] Credit checks for ING Direct customers
We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.
Updated June 24, 2016 and originally published June 27, 2010. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.