Due to the record number of bank failures this year, the FDIC is low on funds. Instead of borrowing from the Treasury as they did in the early ’90s savings and loan crisis, regulators have a new idea: asking banks for a bailout.
government
Should Banks Be Forced To Ask Permission Before Overdrafting Your Account?
By 9.21.09
Sen. Chris Dodd plans to introduce legislation that would require banks to get permission before allowing fee-generating overdrafts. Banks are on track to earn $38.5 billion in overdraft fees this year and, according to a study by the Federal Deposit Insurance Corp, most banks offer the “service” automatically. Common “features” of the programs include not notifying customers when an overdraft is about to occur, not offering them a chance to cancel the transaction, and processing the transactions in ways designed to increase the number of fees.
FCC To Propose Net Neutrality Rules Tomorrow
By 9.20.09
The government is finally cracking down on Net neutrality? Yes, it’s time! Tomorrow, the FCC plans to propose new rules for Internet service providers to prevent them from blocking certain types of traffic.
Child Labor? In MY Local Store? It's More Likely Than You Think
By 9.13.09
Was anything you own made with forced or child labor? It’s more likely than you think. Last week, the U.S. Department of Labor finally released a long-awaited report on the use of child labor or forced labor worldwide. The unsurprising result: Children and forced laborers work in agriculture, mining, and manufacturing worldwide.
Chamber Of Commerce Attacks Proposed Consumer Financial Protection Agency
By 9.10.09
Maybe you forgot about the proposed Consumer Financial Protection Agency in all the health care sound and fury, but it’s still out there, and financial companies are still very much against it. Now the U.S. Chamber of Commerce is launching an ad campaign that shifts the focus from credit card companies to smaller businesses that they insist will be affected, although the scope of the proposed agency is still kind of unclear.
New FoodSafety Website Helps You Stop Accidentally Poisoning Your Family
By 9.10.09
The USDA and Health and Human Services (HHS) today unveiled a new website focused on food safety at foodsafety.gov. It’s got lots of info on how to keep food from spoiling, but better still it’s a good launching pad for filing complaints, or keeping track of what’s going on in your state (check the “state agency” widget in the bottom right column).
Lexapro's Marketing Plan Shows How Drug Maker Pushes New Drugs
By 9.3.09
The Senate just released 88 pages of a confidential 270+ page marketing plan by Forest Laboratories, created in 2004 and focused on how to get doctors to prescribe the antidepressant Lexapro over similar but cheaper alternatives such as Celexa. The New York Times notes that the line between marketing and education seems to be heavily blurred, which may not surprise you. There are, however, two interesting notes for consumers who may be taking Lexapro.
Government Has Made $4 Billion On The Bailout, So Far
By 8.31.09
The NYT says a little less than a year after the economic meltdown, the government is starting to see a profit from banks repaying bailout money.
Comcast Wins Right To Own More Than 30% Of Cable Market
By 8.30.09
Comcast is the biggest cable provider in the United States, and now a U.S. Court of Appeals decision states that it can grow even bigger. Yay! Yay?
Identity Theft Ring Targets Governors Of States At End Of Alphabet
By 8.29.09
While he governor of California is autographing cars as part of his state’s massive garage sale, his colleagues in West Virginia, Vermont, Wyoming and Washington state are receiving mysterious HP and Compaq laptops in the mail, and are possible victims of identity theft.
Robocalls Banned!
By 8.28.09
Today the FTC banned pretty much all telemarketing-based robocalls starting Tuesday, September 1st, 2009. At that point, “violators will face penalties up to $16,000 per call,” notes the Los Angeles Times.
How Can I Tell When A Product Is Being Greenwashed?
By 8.27.09
Sure, some people want to buy environmentally friendly products, and that’s great. The problem is that marketers understand these impulses well, and want to take advantage of them without always offering products that live up to the claims. What to do? ShopSmart has some answers.
Top Ten New Cars, Trade-Ins From Cash For Clunkers
By 8.25.09
With Cash for Clunkers mostly over, Consumer Reports looks at the most popular new cars and the most popular clunkers that were traded in.
EPA And Academics Fight Over Notifying Public Of Weed-Killer In Drinking Water
By 8.25.09
Atrazine—a widely-used herbicide—is one of those chemicals for which there is no evidence it will kill you or give you cancer or make your eyes fall out. It’s true that it’s been linked to egg production in male frogs, but I think we can all agree that frogs pretty much want to mutate and will apparently do so at the slightest chemical nudge. The question for Americans is, should the EPA have notified affected citizens in the four states where atrazine has exceeded federal safety limits? Because it didn’t.
Apple, Google, And AT&T Respond To FCC's Google Voice Questions
By 8.22.09
Apparently, Apple didn’t reject the Google Voice application for iPhone. They “[continue] to study it.” Yesterday, Apple, AT&T, and Google all turned in their responses to the FCC’s questions as part of the investigation into the bannination of Google Voice from the iPhone App Store.
Coming Soon – Cash For Clunkers: Home Appliance Edition
By 8.21.09
Now that it’s ending, you thought you were done hearing about the Cash for Clunkers program, didn’t you? Not yet. Coming soon will be a state-administered, federally-funded program providing rebates to consumers who buy Energy Star appliances. Check out Consumer Reports for a preview.
Cash For Clunkers Program Sputters To A Close
By 8.20.09
If you’re still thinking about trading in an older, fuel-inefficient car, get moving. Due to its overwhelming, car-crushing success, the Cash For Clunkers (CARS) program will end at 8 p.m. on Monday.
