Ever since Richard Cordray was appointed head of the very first Consumer Financial Protection Bureau back in January 2012, he’s rolled up his sleeves as the director and dug into the task of making the financial industry less confusing to consumers. He and the CFPB have addressed credit card companies, credit bureaus, debt collectors, mortgage applications, big banks and their myriad of fees and all matter of consumer complaints. And now he gets to do it again this year! [More]
Government Policy
Annie’s Frozen Pizzas Recalled Since Metal Shards Aren’t The Tastiest Topping
By 1.23.13
Pepperoni, onions, mushrooms, sausage, heck, we’ll even take some anchovies on my pizza over say, a crunchy metal shard. Annie’s is issuing a recall of its Annie’s Homegrown Frozen Pizza because it’s possible that a few varieties could have fragments of “flexible metal mesh.” Apparently a faulty screen at third-party flour mill is to blame for this extraneous topping. [More]
Woman Sues TSA, FBI, Frontier Airlines After Being Detained & Strip-Searched
By 1.22.13
Back on Sept. 11, 2011, the tenth anniversary of the 9/11 terrorist attacks, an Ohio woman was one of three people detained by authorities at Detroit Metro Airport, where she claims she was strip-searched and held without cause for four hours. [More]
23 Things Debt Collectors Are Not Allowed To Do
By 1.21.13 — Updated: 12.6.16
Though it sometimes seems like debt collectors will try anything, even impersonating Ed McMahon, to their money, the law actually puts some pretty strict limits on what these people and companies can and can’t do. [More]
How Tide Became An Underground Currency
By 1.18.13 — Updated: 1.19.13
Everyone loves Tide, from the toddlers who gobble detergent pods to the criminals who boost it and sell it illegally. Some people even do laundry with it. The real question at the core of the Tide trade is this: How did bottles of brand-name detergent become a de facto currency? Why this brand, Tide? Where do the bottles come from, and who is the end consumer who actually pours the Tide in their washer? [More]
FCC Chair Wants Gigabit Internet Access In All 50 States By 2015
By 1.18.13
With some critics claiming the U.S. is falling behind other developed nations in access to high-speed Internet, FCC Chairman Julius Genachowski has announced the “Gigabit City Challenge,” hoping to get at least one city in each state to offer gigabit Internet access by 2015. [More]
Transportation Secretary: Dreamliners Won’t Fly Again Until They’re Deemed “1,000% Safe”
By 1.18.13
Just one week after he said he would be comfortable taking a spin in a Boeing 787 Dreamliners, Transportation Secretary Ray LaHood has changed his tune. After numerous reports of problems with the jets’s batteries, LaHood now says none of them will take to the skies again until officials are “1,000% sure” they’re safe to fly. [More]
TSA Finally Removing “Naked” Full-Body Scanners From Airports
By 1.18.13
Last fall, it was reported that the Transportation Security Administration was moving its controversial backscatter full-body scanners out of busier airports and moving them to smaller ones. Now, the agency says it is getting rid of these scanners altogether. [More]
Honda Recalls 748,000 Vehicles Because Airbags Are Supposed To Deploy Properly
By 1.18.13
Someone at the Honda factory apparently goofed and may not have put enough rivets in the airbag assemblies of Pilot and Odyssey vehicles. Without the right number of rivets, the airbag may not deploy properly, which could defeat the entire purpose of an airbag. So it’s time for these cars to be recalled. [More]
NHTSA Says Automakers Issued 650 Safety Recalls In 2012, Affecting 17.8 Million Products
By 1.17.13
Automakers had their hands full with recalls last year, at least according to the latest numbers from the U.S. Department of Transportation’s National Highway Traffic Safety Administration. Today the NHTSA announced that vehicle manufacturers had filed more than 650 safety recalls in 2012, which includes more than 17.8 million vehicles, child seats and other equipment related to automobiles. [More]
Study: 20,000 Trips To The Emergency Room In 2011 Linked To Consumption Of Energy Drinks
By 1.17.13
Following on the heels of reports linking ill health effects to energy drinks like Monster and 5-Hour Energy, a new government study says those beverages are “a rising public health problem,” and have been linked to 20,000 visits to emergency rooms around the country. [More]
Sellers Of Imitation “Exclusively Authorized” 9/11 Commemorative Coins To Pay $750,000
By 1.17.13
Back in 2010, with the tenth anniversary of the Sept. 11, 2001 attacks on the horizon, Congress authorized the U.S. Mint to produce and sell a commemorative medal. But that didn’t stop one company from advertising imitation versions it called “exclusively authorized” 9/11 commemorative dollar coins. [More]
CFPB Rules Aim To Protect Homeowners From Inept & Foreclosure-Happy Mortgage Servicers
By 1.17.13
One week after it announced a new set of rules that require mortgage lenders to prove that borrowers will actually be able to pay back their loans, the Consumer Financial Protection Bureau is unveiling a slew of new rules for mortgage servicers intended to curb some questionable practices and provide more safeguards for all borrowers. [More]
Report: House Of Representatives Apparently Can’t Get Enough Pirated Episodes Of ‘Dexter’
By 1.16.13
Pardon us, U.S. House of Representatives — is that… is that mud on your face? Don’t worry, you’re not the only government group to get caught allegedly downloading pirated content from the Internets. A new report claims that someone or multiple someones in the offices of the U.S. House of Representatives have been catching up on TV and movies by illegally downloading content recently. [More]
The Debt Ceiling Crisis Is So Much More Fun With Choose Your Own Adventure Scenarios
By 1.14.13
We’ve all heard about magic trillion-dollar coins and other fantastical scenarios to save the U.S. government from finally smacking its head against the debt ceiling, but trying to really understand the whole thing and what we’re in for if something can’t be figured out is kind of intimidating. Which is why we’re really glad someone came up with a “choose your own adventure” type to see exactly what we could be getting into. [More]
FDA Says Ambien Is Making Us Too Groggy In The Morning, Requires Lower Recommended Dosages
By 1.10.13
Zolpidem, the active ingredient in prescription sleep aids Ambien, Edluar, and Zolpimist, is apparently leaving some users — especially women — groggy and impaired in the morning. Thus, the FDA is requiring the manufacturers of these drugs to lower the current recommended doses. [More]
New Rule Means Banks Will Have To Make Sure Borrowers Can Actually Repay Mortgages
By 1.10.13
When the housing market collapsed five years ago, it was due in no small part to mortgage lenders who handed out loans without really considering whether or not the borrower could ultimately pay that money back. Hoping to minimize the chances of this happening again, regulators have introduced a new rule today. [More]
Here’s Why Everyone Is Talking About The U.S. Government Minting A Trillion-Dollar Coin
By 1.9.13
No, you don’t need to clean out your ears or wipe your eyes in disbelief — the government is really considering minting a trillion-dollar coin in order to give it enough money to pay off its debts. It might sound ridiculous and like something that just shouldn’t or couldn’t be done, but it’s a very real possibility if Congress can’t agree to raise the debt ceiling. [More]
