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 reporting on financial challenges facing millions of working and middle class Americans as the economy continues to recover from the worst recession in generations.

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.

Arnold is now serving as the lead reporter and editor for the ongoing NPR series "Your Money and Your Life", which explores personal finance issues. As part of that, he's reporting 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. UCLA calls the award the most prestigious in financial journalism.

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. And he was 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 he 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 September 11, 2001, 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.

Of all the U.S. currency in the world, nearly 80 percent is in $100 bills. That's about a trillion dollars.

Some people want to get rid of the bill altogether. Ken Rogoff, an economist at Harvard University, says the $100 bill helps criminals:

Public pension funds have been doing something new in recent years — investing in hedge funds.

Hedge funds are often secretive investment firms led by supposedly supersmart fund managers. Though, sometimes they implode spectacularly — think Long-Term Capital Management. Another prominent firm, Galleon Group, recently got shut down for rampant insider trading.

Many homebuyers have been throwing down cold hard cash for their entire house purchase in recent years. Some are baby-boomers who sold a bigger house and are downsizing. Some are investors. Others are from outside the U.S.

"Top of the list in terms of cash sales in the first quarter was Florida, with 64 percent of all sales going to cash buyers, followed by New York, 59 percent; Alabama, 56 percent," says Daren Blomquist, vice president of RealtyTrac, which did a study on cash purchases.

More than five years after the crash, homebuilding is stuck at half its normal level. That's a big drag on the economy. And things aren't looking much better: A report out Thursday shows homebuilder confidence is at its lowest level in a year.

This severe slump in single-family home construction has been going on across the country. We haven't seen anything close to this kind of a long-term construction slump since World War II.

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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Saving for retirement is a challenge facing most Americans. Research shows the challenge is made harder by our basic human impulses. We know we should be saving. But we don't. We consistently make bad financial decisions.

One thing that leads us astray is what behavioral economists call "loss aversion." In other words, we hate losing. And that gets in the way of us winning — if winning is making smart financial decisions.

How A Smashed Car Is Like A Smashed Nest Egg

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Turkey Shore Distilleries in Ipswich, Mass., is one of them.

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Following the popularity of companies like Airbnb, which rent out a client's house or apartment to people visiting the area, more companies are trying the idea with cars. Companies like Uber help find someone to drive you around like a taxi. Another will let you rent out your car like a Zipcar while you're at work.

As the U.S. economy continues to recover, it has been getting some help from an unexpected place. After decades of massive job losses, manufacturing firms have been steadily creating jobs — many of them well-paying. One particularly bright spot is a new generation of high-tech manufacturers.

We've been reporting a lot lately on the troubled rollout of President Obama's signature health care law. But at the same time, there are rumblings of a major shift in the way companies offer private health insurance to workers.

It involves what are called "private health care exchanges." These are similar to — but completely separate from — the public exchanges you've heard so much about.

Some experts say this new approach soon could change how millions of Americans receive their health care.

The Justice Department on Tuesday announced a landmark $13 billion settlement with JPMorgan Chase. That's the largest settlement the federal government has ever made with a single company. It's three times the BP Deepwater Horizon Oil Spill settlement.

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