economy
Gas prices have spiked in the last two weeks, reaching levels last seen during the peak of the summer driving season, says the AP. The increase in
gas prices has retailers worried that consumers who are putting more money in their gas tanks will buy fewer gifts during the upcoming holiday season.
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CFPA
Earlier this week, a group of 70 law professors from universities across the country released a 16-page
Statement of Support (pdf) detailing why they're in favor of the proposed Consumer
Financial Protection Act. You can read the statement yourself via the link above, but we've summarized them below.
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funerals
Remember
Burr Oak this past summer? That was the Chicago cemetery that dug up bodies and resold the graves to new customers. Well, yesterday a U.S. Representative from Illinois introduced the
Bereaved Consumers Protection Act, a bill that would standardize record-keeping, make cemeteries accountable to federal officials as well as state, and protect consumers from shady business practices.
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buying blind
Let's get straight to the bad news: although Amazon did answer my questions, their answers included "we're working on that," "I don't know," and "I don't know (but it's the publishers' fault)." To be fair to the "
Kindle Specialist" I spoke with this morning, he has promised to talk to the Kindle marketing department—why marketing? these are DRM issues!—and get back to me with better answers. Until then, this is what the average consumer can expect from a Kindle ebook license.
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Sustainability Index
Walmart is developing a universal rating system to help consumers determine which products are truly sustainable. The rating system would scrutinize a product's entire life-cycle by focusing on broad factors, rather than the usual marketing gibberish that extolls isolated virtues. So why is Walmart, of all companies, deciding which products are environmentally sound?
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confidence
The deepest "employment slump of any recession in the last eight decades" has consumers convinced they're about to lose their jobs — and that's affecting consumer confidence, says Bloomberg.
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fees
Australian consumers will soon be able to challenge any bank fee that they consider "unreasonable," thanks to a new law that could save consumers up to $1 billion. Banks that want to keep levying excessive fees for late payments and overdrafts will need to prove that the charges are reasonable by revealing the true processing costs behind the fee.
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liability
General Motors has reached an agreement with the government to let consumers file what are known as product-liability claims after the company escapes from bankruptcy protection. The big win for consumers means that if a manufacturing defect in an old G.M. causes injuries in the future, consumers will still be able to sue G.M. in state court.
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insurance
Life insurance polices are backed by
state guarantee associations, but the coverage offered varies drastically from state to state. Some products, like variable annuities, can be recovered in full because of the way they're structured, but if you have term
life insurance or a universal policy, you should know the limitations of your state's coverage...
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cellphones
Yesterday,
four U.S. Senators sent a letter to FCC acting chairman Michael Copps requesting an investigation into whether exclusivity deals between handset makers and national carriers are ultimately good for consumers, and they plan to hold a hearing on the issue on Wednesday, June 16th. They join a growing number of people and organizations, including the Rural Cellular Association (RCA), who say exclusivity deals benefit no one but the carriers and manufacturers.
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recession
Do you feel more confident? According to the Conference Board,
consumer confidence is up to its highest level in eight months, and made its biggest increase in six years.
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arbitration
Mandatory binding arbitration, which corporations use to dodge accountability for their discrimination, negligence, or harassment, is a caricature of justice that offers no protection to consumers or employees. It's also terrible for small business owners, as one couple found out.
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mandatory binding arbitration
We at Consumerist really hate
mandatory binding arbitration, the faux-legal sucker punch that companies deliver when they screw up and you try to sue, and so should you. We've talked about its evils
a lot, but no one can describe this legal abomination as well as the victims themselves, so this week we'll let them speak.
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consumers
Time interviewed Paco Underhill, a retail consultant and the author of Why We Buy: The Science of Shopping, to find out
how the average American consumer shops and thinks these days. Turns out, according to Underhill, there are three types of "average consumer" out there now, and—you may have noticed this already—the era of the big box retailer is in decline.
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