Fidelity customers lose 401(k) access. Some call it a 'mind-boggling' power grab. But the company says it's about safety

Fidelity customers lose 401(k) access. Some call it a ‘mind-boggling’ power grab. But the company says it’s about safety

As a major investment company and financial technology (fintech) platforms fight over access to client retirement accounts, some customers caught in the middle are discovering that the “K” in 401(k) might just stand for “Keep out.” The retirement rumble escalated recently when Fidelity began enforcing a new policy restricting access for third-party financial advisors, and…

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‘Mentally debilitating’: Hong Kong couple faces threats, harassment from loan sharks

‘Mentally debilitating’: Hong Kong couple faces threats, harassment from loan sharks

When his health supplement business struggled with cash-flow problems, Bobby Tan* turned to a so-called professional networking group in Hong Kong for help, borrowing HK$300,000 (US$38,220) from a licensed small lender in April last year. Over the next 10 months, the Hong Kong permanent resident from Southeast Asia continued to take on more debt, borrowing…

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