In a series of recent posts, WalletBlog has accused Bank of America of breaking the spirit of its “no new fees” promise and of potentially breaking the law next year, after it announced it will introduce annual fees on some existing credit card accounts in 2010.
government
Homebuyer Tax Credit Extended To June 2010, Woot!
By 11.8.09
As anticipated, President Obama signed the 8,000 first-time homebuyer tax credit extension into law on Friday. You can now collect the credit if your home purchase is complete by June 30, 2010. But wait, there’s more! The extension also offers a tax credit for people who are purchasing a new residence, but aren’t first-time homeowners.
What You Need To Know About Today's Unemployment Benefits Extension
By 11.6.09
If you’re still struggling to find a job in the current economy, you’ll be happy to know that this morning President Obama is expected to sign legislation to extend benefits for few more months. The New York Times has more info on how the extension will work, and who qualifies for it.
First Results Of Gov Study Of Chinese Drywall Inconclusive, But More Tests To Come
By 10.30.09
Yesterday the Consumer Product Safety Commission (CPSC) announced some findings from its study of the problematic Chinese drywall, which 1,900 Florida homeowners have complained stinks and makes people sick. The commission told the Associated Press that “no connections have been made yet,” but that they’re doing more tests—which means there’s still no definitive answer on who should be held financially responsible if the homes have to be gutted and repaired, which the Wall Street Journal says could cost as much as $25 billion dollars.
Edmunds.com Estimates Real Cash For Clunkers Cost, Gets White House Smackdown
By 10.30.09
Edmunds.com crunched some numbers, and came to the conclusion that the federal Cash for Clunkers program was not a terribly effective use of taxpayer money. They argue that the bulk of rebates went to consumers who were going to buy cars anyway. The White House, however, begs to differ. So how did the Obama administration respond? With a snarky blog post.
Is AT&T Behind Grassroots Groups That Are Opposed To Net Neutrality?
By 10.27.09
In the net neutrality debate, there are a surprising number of grassroots organizations (well, surprising to me at any rate) that have filed statements against the FCC’s recent draft of rules. Matthew Lasar at Ars Technica just published an interesting article where he looks at some of these groups and tries to figure out whether AT&T is secretly influencing them, or whether they really do think net neutrality will hurt those they represent–frequently minority groups–in the long run.
Here's What The New FCC Net Neutrality Rules Mean
By 10.23.09
Yesterday the FCC announced new, expanded rules enforcing net neutrality, and they’ve set aside the next 60 days for public debate. Get ready to hear all sorts of creative end-of-the-world-as-we-know-it arguments from opponents like AT&T. We’ve checked out the official document (pdf) and below we summarize the changes that are open to public discussion for the next two months.
Government Orders Pay Cuts For Bailed-Out Firms
By 10.22.09
The huge salaries and bonuses paid to executives of banks and other firms that received government bailout funds have been the subject of a lot of taxpayer rage. The Obama administration listened, and will order pay cuts.
AT&T Asks Employees To Oppose Net Neutrality
By 10.20.09
A reader sent us a letter that AT&T sent to its employees asking them to tell the FCC they oppose net neutrality. This comes after the FCC announced plans to investigate and enact net neutrality rules that will ensure that internet service providers (like AT&T) treat all content equally. The letter and a rebuttal are inside.
Energy Star Program Relies On Honor System For Some Products
By 10.19.09
Your new washer, dryer, fridge, monitor, or TV set may have an Energy Star label on it, but it turns out that nobody is making sure that means anything, reports the New York Times. Our parent organization Consumer Reports pointed out that this was a problem a year ago.
FCC Asked To Address Misleading And Confusing Billing
By 10.16.09
In August, we wrote about upcoming investigations and possible actions by the FCC on several different areas of the consumer telecommunications experience. Several consumer groups filed comments on the first issue, truth in billing, this week, and we wanted to share some of their concerns and suggestions.
Chicago Is Sorry They Towed 20 People So Secret Could Film A Deodorant Commercial
By 10.15.09
Know what’s more important than you not having your car towed and having to pay a $160 tow fee? Secret deodorant commercials! At least that’s the message Chicago sent back in September when they put up signs about a film shoot tow zone only 3 hours before the towing was to begin.
The Consumer Financial Protection Agency And You
By 10.9.09
Legislation to create a Consumer Financial Protection Agency (CFPA) is making its way through Congress. Interested parties have spoken out (“It sucks!” “It’s awesome!“). Now the White House wants to know what you think.
Is The Federal Housing Administration Going To Need A Bailout?
By 10.8.09
Earlier today a former Fannie Mae exec and the current head of the FHA gave conflicting testimonies to Congress about the health of the mortgage insurer—particularly about whether or not it’s going to require a taxpayer bailout in the next couple of years.
Federal Employees Banned From Texting While Driving
By 10.2.09
An executive order issued this week bans federal employees from texting while driving when using government vehicles or phones, or while on government business. Given the safety risks of texting while driving, we think this was a good move, and hope that it extends to the general population. Take our poll and tell us what you think, inside.
Congress Seeks To Move Up Credit Card Act Implementation To December 1st
By 9.24.09
Today, Reps. Barney Frank and Carolyn Maloney are going to request that the implementation date for the rest of the Credit Card Act‘s rules be moved to December 1st of this year instead of February 2010, after seeing companies “jacking up their rates and doing other things to their customers in advance of the effective date” all summer, reports Mary Pilon at The Wall Street Journal.
Ban On Long Tarmac Delays Close To Being Passed
By 9.23.09
If Senator Barbara Boxer has her way, the Senate’s Federal Aviation Administration Air Transportation Modernization and Safety Improvement Act will soon require airlines to “deplane passengers after three hours and would require [the airlines] to provide basic services such as food and water while they are waiting on planes.” The requirement is in the current version of the bill, and Boxer and another Democrat, Senator Amy Klobuchar, have threatened to filibuster it if the language is removed.
Congressman Introduces Bill To Oversee Cemeteries
By 9.22.09
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.
