Chris Arnold

NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered, and Weekend Edition. He joined NPR in 1996 and was based in San Francisco before moving to Boston in 2001.

Most recently, Arnold has been hosting the personal finance episodes of NPR's Life Kit podcasts, which offer listeners actionable tips backed up by behavioral economics research on the best ways to save money, invest for the future, and a range of other topics.

Arnold's reporting often focuses on consumer protection issues. His series of stories "The Trouble with TEACH Grants," that he reported with NPR's Cory Turner, exposed a debacle at the U.S. Department of Education through which public school teachers had grants unfairly converted into large student loan debts — some upwards of $20,000. As a result of the stories, members of Congress demanded reforms and the Education Department overhauled the program and is now giving thousands of teachers their grant money back and erasing their debts.

Arnold was honored with a 2017 George Foster Peabody Award for his coverage of the Wells Fargo banking scandal. His stories sparked a Senate inquiry into the bank's treatment of employees who tried to blow the whistle on the wrongdoing. Arnold also won the National Association of Consumer Advocates Award for Investigative Journalism for a series of stories he reported with ProPublica that exposed improper debt collection practices by non-profit hospitals who were suing thousands of their low-income patients.

Before that, Arnold served as the lead reporter for the NPR series "Your Money and Your Life", which explored personal finance issues. As part of that, he reported on the problem of Wall Street firms charging excessive fees in retirement accounts — fees that siphon billions of dollars annually from Americans trying to save for the future. For this series, Arnold won the 2016 Gerald Loeb Award, which honors work that informs and protects the private investor and the general public.

Following the 2008 financial crisis and collapse of the housing market, Arnold reported on problems within the nation's largest banks that led to the banks improperly foreclosing on thousands of American homeowners. For this work, Arnold earned a 2011 Edward R. Murrow Award for the special series, "The Foreclosure Nightmare." He's also been honored with the Newspaper Guild's 2009 Heywood Broun Award for broadcast journalism. He was also a finalist for the Scripps Howard Foundation's National Journalism Award.

Arnold was chosen for a Nieman Journalism Fellowship at Harvard University during the 2012-2013 academic year. He joined a small group of other journalists from the U.S. and abroad and studied economics, leadership, and the future of journalism in the digital age. Arnold also teaches Radio Journalism as a Lecturer at Yale University and was named a Poynter Fellow by Yale in 2016.

Over his career at NPR, Arnold has covered a range of other subjects — from Katrina recovery in New Orleans and the Gulf Coast, to immigrant workers in the fishing industry, to a new kind of table saw that won't cut your fingers off. He traveled to Turin, Italy, for NPR's coverage of the 2006 Winter Olympics. He has also followed the dramatic rise in the numbers of teenagers abusing the powerful and highly addictive painkiller Oxycontin.

In the days and months following the Sept. 11 attacks, Arnold reported from New York and contributed to the NPR coverage that won the Overseas Press Club and the George Foster Peabody Awards. He chronicled the recovery effort at Ground Zero, focusing on members of the Port Authority Police department as they struggled with the deaths of 37 officers — the greatest loss of any police department in U.S. history.

Prior to his move to Boston, Arnold traveled the country for NPR doing feature stories on entrepreneurship. His pieces covered technologists, farmers, and family business owners. He also reported on efforts to kindle entrepreneurship in economically disadvantaged areas ranging from inner-city Los Angeles to the Pine Ridge Indian reservation in South Dakota.

Arnold has worked in public radio since 1993. Before joining NPR, he was a freelance reporter working out of San Francisco's NPR Member Station, KQED.

The federal government took a major step toward helping homeowners this week, ordering lenders to give people hurt financially by the coronavirus pandemic up to a 12-month break on their mortgage payments.

But what about renters?

Many cities say they're halting evictions if renters can't pay. But that's about it, says Laurie Goodman, co-director of the Housing Finance Policy Center at the Urban Institute.

Updated at 2:49 p.m. ET

Homeowners who have lost income or their jobs because of the coronavirus outbreak are getting some relief. Depending on their situation, they should be eligible to have their mortgage payments reduced or suspended for up to 12 months.

As the economy rapidly shuts down, many small businesses around the country are on the verge of collapsing. They have a message for the federal government: Please send money fast or we'll be out of business.

After the financial crisis hit in 2008, millions of Americans who worked at small businesses lost their jobs. It happened in just a matter of months. That's because many smaller businesses operate kind of like people who live paycheck to paycheck, without much savings.

In an unprecedented attempt to contain the coronavirus outbreak, thousands of stores and other businesses are closing their doors to customers.

Apple, Nike, Patagonia and scores of other retailers are closing thousands of stores across the country. In the nation's largest cities — New York City, Chicago, Los Angeles and San Francisco — officials said they were ordering restaurants, bars, and cinemas to close. Restaurants will be permitted to do takeout business.

In what's looking more like a public health debacle, the U.S. has a serious testing problem with the coronavirus. Only around 15,000 people have been tested so far, according to the Centers for Disease Control and Prevention. And public health experts say that's not nearly enough to know how widespread the outbreak is and how to respond.

But the Food and Drug Administration has just approved a new test from the giant pharmaceutical company Roche that could represent a major breakthrough.

A dramatic drop in mortgage rates may give prospective homebuyers a chance to afford the house they've been eyeing — or may lower monthly payments for homeowners who refinance.

Last week, fears over the novel coronavirus outbreak's anticipated economic impact sparked the most dramatic stock market sell-off since the 2008 financial crisis. Stocks rallied Monday on expectations that the Federal Reserve will cut interest rates to boost the economy.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

MARY LOUISE KELLY, HOST:

With rising home prices, many young people think they can't afford homes. But there are alternatives to the traditional 20% down payment, giving more people the opportunity of homeownership.

Listen to the full story on finding the right mortgage from Life Kit here.

A few years ago, Lauren had a big problem. The Queens, N.Y., resident had graduated from college with an art degree as the Great Recession had hit. She had private student loans with high interest rates. For work, all she could find were retail jobs. And by 2016, her loans had ballooned to about $200,000.

" 'I can't afford to actually pay my bills and eat and pay my rent,' " she remembers thinking. "I was financially handicapped. I mean, my student loan payments were higher than my rent was."

MICHEL MARTIN, HOST:

Saving more and spending less is a popular New Year's resolution, which doesn't sound like a lot of fun. So why are some of our listeners talking about budgeting like this?

UNIDENTIFIED PERSON #1: I'm actually super jazzed about it (laughter). It's, like, all I want to talk about.

UNIDENTIFIED PERSON #2: And I am a budgeting wizard.

MARTIN: A budgeting wizard - super jazzed - what's going on with these people? What are their secrets? NPR's Chris Arnold from our Life Kit podcast says this does not need to be a dreaded task.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

AUDIE CORNISH, HOST:

At its heart, the new Trump administration plan for the home loan market aims to change the rules for the mortgage giants Fannie Mae and Freddie Mac. The two companies are the bedrock foundation for home mortgages in the U.S.

The government created them decades ago to provide a federally backed guarantee on loans to ensure that money would always be available for responsible, qualified homebuyers to get mortgages. They later became largely private companies but have been under government control since the financial crisis.

The Massachusetts Institute of Technology, one of the nation's most prestigious universities, stands accused of hurting workers in the company's retirement plan by engaging in an improper relationship with the financial firm Fidelity.

A lawsuit headed to trial in September alleges that MIT ignored the advice of its own consultants and allowed Fidelity to pack the university's retirement plan with high-fee investment funds that ended up costing employees tens of millions of dollars. In return, the lawsuit said, MIT leveraged millions of dollars in donations from Fidelity.

The Trump administration is moving to weaken the civil rights-era Fair Housing Act — making it much harder to bring lawsuits alleging discrimination in housing, according to housing advocates. But conservative groups applaud the move and say it would stop frivolous lawsuits.

Updated at 11:25 a.m. ET

Equifax will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach at the credit reporting bureau that affected nearly 150 million people.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

MARY LOUISE KELLY, HOST:

The director of the Consumer Financial Protection Bureau says the Trump administration's Education Department is getting in the way of efforts to police the student loan industry. The revelation, in a letter obtained by NPR, comes at the same time that lawsuits allege that widespread wrongdoing by student loan companies is costing some borrowers thousands of dollars.

Nearly 2,300 teachers have just had a mountain of student loan debt lifted off their backs, according to previously unreleased figures from the U.S. Department of Education. The move follows reporting by NPR that exposed a nightmare for public school teachers across the country.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

AUDIE CORNISH, HOST:

Copyright 2019 NPR. To see more, visit https://www.npr.org.

DAVID GREENE, HOST:

Updated at 9:47 a.m. ET Thursday

Jack Bogle, the founder of Vanguard who made investing and retirement affordable for millions, died Wednesday at the age of 89, the company said.

Bogle transformed the way people invest their money when he created the first index mutual fund for individual investors in 1975.

For public school teacher Kaitlyn McCollum, even simple acts like washing dishes or taking a shower can fill her with dread.

"It will just hit me like a ton of bricks," McCollum says. " 'Oh my God, I owe all of that money.' And it's, like, a knee-buckling moment of panic all over again."

She and her family recently moved to a much smaller, older house. One big reason for the downsizing: a $24,000 loan that McCollum has been unfairly saddled with because of a paperwork debacle at the U.S. Department of Education.

Copyright 2019 NPR. To see more, visit https://www.npr.org.

RACHEL MARTIN, HOST:

Even in a strong economy, many Americans live paycheck to paycheck. Forty percent don't have $400 to cover an emergency expense, such as a car repair. And many working-class people turn to payday loans or other costly ways to borrow money. But more companies are stepping in to help their workers with a much cheaper way to get some emergency cash.

Startup companies that offer better options for workers are partnering with all kinds of businesses — from giants like Walmart to little fried chicken restaurants.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

DAVID GREENE, HOST:

The Trump administration is taking aim at a law designed to protect military service members from getting cheated by shady lending practices.

NPR has obtained documents that show the White House is proposing changes that critics say would leave service members vulnerable to getting ripped off when they buy cars. Separately, the administration is taking broader steps to roll back enforcement of the Military Lending Act.

Copyright 2018 NPR. To see more, visit https://www.npr.org.

AUDIE CORNISH, HOST:

There's been a lot of good economic news lately, something that President Trump isn't shy about pointing out.

(SOUNDBITE OF ARCHIVED RECORDING)

To see what a trade fight can do to exports, all you need to do is look at pork.

American ham and other pork products now face massive tariffs — between 62 and 70 percent – after two rounds of retaliatory tariffs by China. It's led to almost a standstill in pork exports to China.

"In recent weeks, the U.S. Department of Agriculture has reported zero weekly export sales of pork to China," says Mary Lovely, an economist at Syracuse University. "So our exports to the country have pretty much collapsed."

A powerful banking regulator appointed by President Trump could face tough questions in a Senate hearing Thursday about his efforts to allow big banks to make small, high-interest, short-term loans to consumers.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

STEVE INSKEEP, HOST:

Pages