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Older adults carry more consumer debt into their later years than ever before, including mortgage, credit card, and even student loan debt. 

Debt collection cases increasingly dominate state civil court caseloads. Currently, debt collection is the most common type of civil case.

According to a 2020 National Foundation for Credit Counseling survey, 69 percent of Americans struggle to minimize their debt.

Personal bankruptcy is a legal process for people who cannot pay off their debts. The share of bankruptcy filings made by older adults has grown from 27 percent in 2002 to 48 percent in Q2 2022.

Traditional pensions largely have been replaced with 401(k)s and other retirement plans in which employees contribute to individual accounts.

Safeguards and vigilant enforcement against conflicts of interest are needed to protect investors, particularly small investors, and the financial markets.

In 2021, net assets of U.S. mutual funds totaled $27 trillion. Roughly 45.4 percent of all U.S. households (59 million) invested in mutual funds.

Nearly half of U.S. households have invested in stocks or mutual funds. This has given increased importance to the role of financial professionals who offer advice.

Insurance is an essential financial product intended to protect people and their property against significant financial loss.

The complexity of insurance contracts places the average consumer at a disadvantage in the marketplace. This is especially evident in homeowners and automobile insurance.