(northernplateguy)

CFPB Suit: Texas Company Charged Consumers Millions In Fees For Credit Card They Couldn’t Use

Credit cards, while often a risky financial product, can at times prove to be a proverbial lifesaver when you get into a pinch. For that reason, most consumers who apply for a card envision using it as a valid form of payment for any number of reasons. While a Texas-based company marketed their credit card as general-use, consumers quickly found out that wasn’t actually the case. And so, the Consumer Financial Protection Bureau has filed suit against the company for its allegedly deceptive ways. [More]

(Marcos de Madariaga)

FDA: Going To The Mall For Your Ultrasounds Probably Isn’t A Good Idea, Even If It Comes With A Keepsake Gift

Any expectant parent would likely jump at the chance to see their developing bundle of joy. But while commercial ultrasound businesses might seem like the perfect place to catch a glimpse, the Food & Drug Administration is once again warning consumers that non-medical ultrasounds and heartbeat monitors aren’t exactly safe.  [More]

Consumer Advocates Warn Sale Of Corinthian Campuses To Loan Servicer Company Could Further Hurt Students

Consumer Advocates Warn Sale Of Corinthian Campuses To Loan Servicer Company Could Further Hurt Students

Nearly a month ago embattled for profit-college group Corinthian Colleges Inc. announced it had found a buyer for 56 of its campuses under the Everest and WyoTech brands. But the proposed $24 million sale to Educational Credit Management Corporation has drawn the ire of consumer advocates for its lack of protections to students and the possibility that all liabilities related to litigation or private student loans carried by CCI would be waived. [More]

(Spidra Webster)

CFPB Lawsuit: Sprint Made Millions Off Consumers Acting As A “Breeding Ground” For Bill-Cramming

Just a day after rumors surfaced that Sprint could be facing a $105 million from the Federal Communications Commission for allegedly overcharging customers using a practice known as “bill-cramming,” the Consumer Financial Protection Bureau has filed a lawsuit against the carrier for the bogus charges placed on customer’s phone bills. [More]

(Don Buciak II)

USPS Workers Say They’re Overworked Thanks To Delivering Your Holiday Packages On Sundays

Once upon a time, Sundays provided a much-needed day of rest for the nation’s postal service workers. But that all changed when the United States Postal Service and Amazon kicked off a partnership to deliver packages seven days a week, and now, a year later, workers say the deal has resulted in long hours and weeks without a single day off. [More]

(Scott Cimakosky)

Man Allegedly Takes Out $262,000 In Student Loans Under Stepdaughter’s Name, Doesn’t Use It For Tuition

Here’s the thing, when you take out student loans you sign a promissory note saying you’ll use the funds to pay for tuition related costs. If you don’t, then you’re committing something called student loan fraud. That’s apparently the case for a Pennsylvania man who must now stand trial for taking out hundreds of thousands of dollars worth of student loans in his stepdaughter’s name only to use the money himself. [More]

(bluwmongoose)

Report: Nearly Half Of College Students Don’t Know How Much Their Tuition Costs, If They Have Student Debt

Over the past year we’ve read a number of reports that shone a light on just how prevalent student loans are: nearly 40 million consumer have taken out at least one loan to pay for their education. Now a new report takes a look at just how much students actually understand about the cost of their education and student debt. And, as we all probably should have expected, the findings aren’t exactly pleasant. [More]

(Neff Connor)

Seller Hit By Amazon Glitch Reportedly Threatens Buyers With Debt Collection If They Don’t Pay Full Price

Following a major software glitch that allowed consumers to purchase hundreds of items on the Amazon UK marketplace for mere pennies, it appears that some retailers are trying to recoup their lost income from customers, even going as far as to threaten debt collection if purchasers don’t pay full price. [More]

(Misfit Photographer)

FCC Reportedly Planning To Fine Sprint $105M For Wireless Bill-Cramming

Just two months after the Federal Communications Commission imposed its largest fine on AT&T for overcharging consumers using a practice known as “bill-cramming,” the regulator is reportedly poised to saddle Sprint with the same $105 million fine for similar practices. [More]

(Chris Harrison)

Jury: Apple iTunes, iPod Restrictions Don’t Constitute Monopoly

A long-running court battle over alleged antitrust issues involving Apple’s iPod and iTunes store came to an end today after a jury determined that the company did not act improperly when it restricted music purchases starting in 2006. [More]

(Rachel)

Airline Baggage Fees Bring In Nearly $1B In Three Months, Ticket Sales Still Top Revenue-Maker

All those baggage fees added so far this year appear to be bringing in the big bucks for U.S. airlines. A new report found that airlines brought in nearly $1 billion last quarter by charging customers for hauling their belongings. And while that seems like a lot of dough, it’s just a drop in the bucket for the industry. [More]

(Zach Egolf)

Amazon Extends Free Holiday Shipping Deadline, But Still Can’t Control Weather

With the countdown to Christmas officially in the single digits, procrastinators of the world had better get a move on ordering their gifts if they want them delivered by the holiday. That is unless you plan to shop with Amazon, apparently. The online retailer is giving those dragging their feet a little extra time by extending their free Christmas delivery. But, as we’ve learned in the past, just because the company says you’ll get your gift in time doesn’t mean it will actually happen. [More]

(Listener42)

GM Fund Now Links Ignition Defect To 42 Deaths, 58 Injuries

The General Motors victim compensation fund approved four death claims last week, bringing the total number of confirmed fatalities linked to faulty ignition switches to 42 – officially tripling the number of deaths GM initially linked to the issue. [More]

(Mississippi Snopes)

CFPB: College Credit Card Agreements On Decline; Debit, Prepaid Card Agreements Increase

Since Congress passed the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act in 2009, the cozy relationship between credit card issuers and institutions has fractured. But while the number of agreements between the two entities has declined drastically, that doesn’t mean banking on campus has gotten any safer for students. [More]

(Marcus Heinrich)

Court Orders Safeway To Refund Overcharges For Online Orders

Despite facing two previous lawsuits related to overcharging customers at its bricks-and-mortar stores, it doesn’t appear that Safeway understands the concept that you can’t say something is one price and then make a customer pay more – even online. And last week, a California federal judge ruled Safeway must refund customers the amount of money they were overcharged when the company broke its own terms and conditions by marking up prices of items ordered online. [More]

(Alan Rappa)

Amazon Marketplace Glitch Brings Early Christmas To Shoppers, Nightmare For Sellers

Every once in a while a company will suffer an online glitch that leads to consumers purchasing items at bargain-basement prices. While most of the recent buying free-for-alls came courtesy of deeply discounted airline tickets, an issue on Amazon’s UK marketplace Friday gave new meaning to the idea of a holiday fire sale when thousands of items went were priced for a little as one penny (or 2 pennies if you’re in the United States). [More]

(Clean Wal-Mart)

PetSmart Sells To Private Investment Firm For $8.7B

Who knew that pet care could be such a lucrative business? Just as the year comes to an end, PetSmart announced it would sell itself for $8.7 billion to a private equity firm, fetching the title of largest private equity deal of 2014. [More]

The wealth gap between races continues to widen despite recession recovery.

Report: Americans Are Poorer Since The Recession Ended, Wealth Inequality Continues To Increase

While it could be debated to no end whether or not the Great Recession is over, a new report points out that consumers are still worth less money than they were before the bottom fell out of the economy. [More]