As if we hadn’t said it enough, but debt collectors are the worst, especially when they use illegal tactics to pry money from older American’s living on fixed incomes. A new report from the Consumer Financial Protection Bureau shines light on the issues older consumers face when it comes to their financial well-being. [More]
Just because you spent an hour searching the grocery store for the perfect bag of Wild Gulf Shrimp doesn’t mean you’re actually getting wild shrimp caught in the Gulf of Mexico.. In fact a new study released Thursday found that nearly a third of the shrimp products being sold in U.S. stores and restaurants aren’t what they seem to be. [More]
For most Americans every penny counts when it comes to their paycheck, but for some workers nearly a quarter of their wages are taken to pay for past debts in a process known as garnishment. The prevalence of this type of pay seizure grew significantly in the last few years leaving more consumers struggling financially. [More]
All around the country, new and returning college students are being handed IDs they can use as debit cards or they’re being told they can have their aid disbursals deposited straight onto a school-branded card. It all seems incredibly convenient, especially for those who have limited experience handling their own finances, but these school-backed banking products are rarely the best available options for students, who could end up being nickel-and-dimed into debt.
Who would you say knows the most about you? Your family or friends, perhaps? Wrong. You likely have never met – and will never meet – the people who know the most about you: data brokers. These companies follow your every move on- and off-line to collect billions of data points about your life in an attempt to better target you for marketing campaigns and fraud prevention, among other things. [More]
Conditions at the two salmonella egg farms in Iowa are so bad that you’d think they were Tylenol factories, according to recent FDA inspections. Wait, I mean the first and only inspections. [More]
Here’s yet another reason to go for generic drugs when you can: drug makers keep raising prices on brand name products. If you group generics and brand names together, drug prices rose by 3.4% in 2009, according to an industry report. However, if you look at just brand name drugs as the AARP did in a new report, the average price hike was 8.3%. An earlier AARP report from May points out that if you look at specialty drugs “widely used by people in Medicare” then the hike jumps to 9.2%. [More]
The 2009 Consumer Complaint Survey Report is out, and it says that among the 18 states that participated in the survey, complaints about auto dealers topped the list for the second year in a row. However, the fastest-growing category of complaints were about fake foreclosure relief offers. [More]
Last week, the Supreme Court ruled that debt collectors can’t use a “bona fide error” defense to avoid being sued for misinterpreting the Fair Debt Collections Practices Act (FDCPA). In other words, if a debt collection agency makes a demand that’s in violation of the Act, it can’t say it didn’t know any better. Well, it can, but you can go right ahead and sue. [More]
Are you tired of the high fructose corn syrup battles? Today the Institute of Medicine, part of the National Academy of Sciences, released a report that said Americans on average eat enough salt every second to kill a
humpback whale kraken. I have not actually read the report, but it probably said something like that. It also said that public education campaigns have failed to reduce sodium intake, and voluntary self-regulation by the food industry hasn’t been effective. [More]
It’s a big deal when Consumer Reports awards a “Don’t Buy” rating to a vehicle, and when it announced earlier today that the 2010 Lexus GX 460 should be avoided because of safety risks, the story started popping up all over the web. Now only 12 hours later, Lexus has announced that it is asking dealers to temporarily stop selling the vehicle while it looks into the situation, and that it’s taking the Consumer Reports claim “very seriously.” [More]
The FCC has released a scan (PDF) of the five-page executive summary of the National Broadband Plan that it will present to Congress in two days. Although the summary is packed with recommendations, here’s a couple that a lot of broadband customers might be interested in: the FCC wants to develop “disclosure requirements for broadband service providers” so that consumers can make the best choice for service, and it wants to map broadband services across the country to better identify “specific geographies or market segments” where there’s not enough competition. [More]
I’ve stopped shopping at the two large drugstores in my neighborhood because they’ve put all the antiperspirant behind plastic flaps, like bagels at a supermarket. When you lift the flap to grab a Right Guard or Speed Stick, an alarm goes off that makes it clear to everyone in the store that you’re a potential criminal with stinky pits. My guess has been that this embarrassing anti-theft deterrent is needed because there’s almost no staff at either store anymore, and a new retail survey and a couple of loss prevention experts seem to back that up. [More]
The United States Postal Service is continuing its long slide into suckage according to a new report delivered by Postmaster General John E. Potter this morning. People sent far less mail last year (“more than double any previous decline,” says the Washington Post) and labor costs continue to rise, which helped the USPS lose $3.8 billion in 2009. [More]
When an insurer decides whether to offer you a new policy, or whether to raise rates on a current one, he most likely pulls a CLUE report that lists any homeowner or automobile insurance loss claims (or sometimes even just inquiries) that you’ve made over the past 3-7 years. Hopefully you monitor your consumer credit report for errors, but as you can see, that’s not the only one you should keep an eye on.
Do you hate Bank of America? Well take today’s earnings report and wallow around in it like Ann-Margret in beans, becuse the bank has posted a loss of $1 billion before dividends to preferred shareholders—”When those dividend payments are included, the loss was $2.24 billion,” reports the New York Times.