(Enokson)

Bed Bath & Beyond, JCPenney, Others To Pay $1.3M For Trying To Pass Off Rayon As “Bamboo”

Four national retailers will be paying a hefty tab at the register after federal regulators say they continued to deceptively mislabel rayon products as “bamboo,” despite being warned five years ago that this practice violated the law. [More]

(https://www.flickr.com/photos/tonyjcase/8734645882)

Nation’s Biggest Employment Background Screeners Must Pay $13M Over Inaccurate Reports

Before offering a prospective employee a job, many companies will first perform a background check. As with credit reports, any inaccuracies in these transcripts can affect an applicant’s eligibility for employment. To that end, federal regulators have ordered two of the country’s largest employment background screening report providers to pay $13 million in penalties and refunds for providing inaccurate information.  [More]

American Airlines Fined $20K For Failing To Adequately Compensate Bumped Passengers

American Airlines Fined $20K For Failing To Adequately Compensate Bumped Passengers

If you get bumped from a flight because the airline overbooked the plane, you usually get some sort of compensation — money or vouchers for future flights — in exchange for having to change your travel plans. But federal regulators say American Airlines screwed up when it bumped nearly a dozen passengers from a Miami-to-London flight and failed to tell them why or offer them anything for their troubles. [More]

Time Warner Cable Must Pay Nearly $230,000 For 153 Robocalls To The Wrong Person

Time Warner Cable Must Pay Nearly $230,000 For 153 Robocalls To The Wrong Person

We can all agree that automated robocalls are an annoying interruption. But you know what’s worse? Receiving those automated calls meant for someone else, telling the company to place you on the Do Not Call list and then continuing to receive a total of 153 prerecorded messages. [More]

(Nick Bastian)

CFPB: Michigan Bank Must Pay $37.5M For Failure To Provide Consumers With Relief From Foreclosure

Consumers facing the prospect of losing their homes have few avenues of recourse and when even one of those options is taken away, the results can be devastating. That’s just one reason why the Consumer Financial Protection Bureau announced action – to the tune of a $37.5 million – against a Michigan bank for its illegal conduct in blocking borrowers’ attempts to save their homes. [More]

Over Your Credit Limit? Get Ready For Higher Interest Rates!

Over Your Credit Limit? Get Ready For Higher Interest Rates!

Next time you brush past your credit limit you may get hit with more than a hefty over-the-limit fee. The Red Tape Chronicles reports that credit card companies are starting to slap exuberant spenders with penalty interest rates. Compounding the danger to consumers, creditors are simultaneously rushing to slash credit limits.