report

frankieleon

Half Of America Is Not Prepared For A $100 Emergency

If you opened your mailbox today and found that you owed the city $100 and you had to pay it right away, would you be able to? A new report claims that nearly half of us are not prepared to absorb this cost, and more than 1-in-4 Americans is up a creek if they have to unexpectedly pay as little as $10.  [More]

Jeff

90% Of At-Risk Student Loan Borrowers Not Signed Up For Affordable Repayment Plans

Paying back tens of thousands of dollars in student loan can be difficult, and more than 1 million Americans defaulted on their federal student loans just last year. But why are nearly all of these same borrowers failing to take advantage of programs to help them avoid defaulting again? [More]

c x 2

Cotton Swab Injuries Send 12,500 Kids To Hospital Each Year

We all know that we’re not supposed to stick things in our ear, but we’re also told that ear wax is icky and should be removed post-haste. This contradictory set of priorities might explain why thousands of kids show up at the hospital each year with swab-related ear injuries. [More]

C x 2

Study Finds Paying For Online Reviews Leads To Fewer Reviews

Rewarding people with cash has generally been a good way to motivate them to do things they are otherwise not obligated to do, but a new study claims that when you offer folks money for writing online reviews, it can backfire and result in fewer overall reviews. [More]

aresauburn™

45% Of Americans Carry At Least $25,000 In Debt

If you owe creditors less than $5,000 (not including a mortgage) you’re in a rather small group of Americans with minimal debt. According to a new survey, nearly half the country owes at least $25,000 — and spends as much as half of their monthly income paying down their debt. [More]

eyetwist

Most Americans Favor Payday Loan Reforms

Despite claims from the payday loan industry that Americans don’t want reforms intended to prevent borrowers of these short-term loans from falling into a revolving debt trap, two new reports show that most people do think it’s time to rein in payday lending and provide more affordable loan options for borrowers in need.  [More]

Viking Range To Pay $4.65M To Resolve Allegations It Didn’t Properly Report Defect

Viking Range To Pay $4.65M To Resolve Allegations It Didn’t Properly Report Defect

Two years ago, Viking Range recalled 52,000 oven ranges that were somehow able to turn themselves on. Now the company behind the ranges has agreed to pay $4.65 million to resolve allegations it failed to properly report the issue to federal regulators in a timely manner.  [More]

frankieleon

Data Shows Too Many Americans Being Pestered About Medical Debt They Don’t Owe

What’s worse than being overwhelmed by medical debt after a hospital stay or doctor’s visit? Being told you owe money for healthcare procedures and services you never received. Yet, a new analysis of federal data shows that too many Americans are being pestered to pay off medical debt that they don’t actually owe.  [More]

me and the sysop

Recalled Products From IKEA, McDonald’s Made 2016 A Bad Year For Injured Children

There was no shortage of massive, wide-reaching recalls that affected children in 2016: the 29 million top-heavy IKEA dressers that could tip over, McDonald’s 29 million Happy Meal fitness trackers that caused rashes and burns, and three million Tommee Tippee’s spill proof cups that grew mold. Each of these campaigns — and many others — contributed to the largest increase in recalls, injuries, and incidents involving children’s products in nearly a decade.  [More]

Akira Ohgaki

Report Claims Amazon’s List Prices Mislead Shoppers About Discounts

One aspect of shopping on Amazon is that the online retail giant appears to offer significant discounts on many of the items it sells. However, a new report alleges that these markdowns not as generous as they appear, and that many of them are effectively nonexistent.  [More]

Subway Suing Over News Story Claiming Its Chicken Is Largely Soy

Subway Suing Over News Story Claiming Its Chicken Is Largely Soy

Subway has already vehemently denied a recent Canadian news report alleging that the sandwich chain’s chicken is only 50% meat, but the company is now going a step further, accusing the broadcaster of defamation and seeking hundreds of millions of dollars in damages. [More]

Jeff

More Than 1.1M Federal Student Loan Borrowers Entered Default Last Year

With the cost of college tuition continuing to increase, it likely comes as no surprise that more borrowers are finding themselves in default. In 2016 alone, 1.1 million borrowers entered default for their federal student loans.  [More]

Mike Mozart

Lawmakers Urge In-Depth Review Of Santander Bank’s Practices After Discrimination Allegations

Santander Bank has faced a number of issues in recent years, from an investigation into its auto loan business to receiving a $10 million fine over alleged illegal overdraft practices. More recently, the company received a failing grade from regulators when it came to its community lending business, prompting lawmakers to condemn the bank’s alleged discrimination and urge federal banking regulators to review the financial institution’s practices. [More]

frankieleon

People In Southern States More Likely To Be Saddled With Medical Debt

While expensive medical emergencies can hit anyone, anywhere in the U.S., a new report finds that one region of the country has a higher level of medical debt than the rest of the states. [More]

Jason Cook

Chance Of Cardiac Event Jumps By 23% Two Days After Major Snowstorm

Whether it’s overexertion from shoveling snow, the stress of being stuck inside, or any number of other possible causes, a new study shows that the chance of a cardiovascular-related hospital admission significantly increases two days after a major snowstorm. [More]

Steven Depolo

1-In-4 Consumers Contacted By Debt Collectors Feel Threatened

More than 70 million Americans are contacted by a debt collector or creditor each year. While those debt collectors have a job — to get borrowers to repay on their overdue debts — some have used illegal tactics, such as threatening lawsuits, arrests, or contacting consumers’ employers or family members. Now, a new report by the Consumer Financial Protection Bureau finds that harassment by these collectors is all too common.  [More]

frankieleon

Hotels Harm Consumers By Not Including ‘Resort Fees’ In Room Rates

Staying in a hotel comes at a price — there’s the room rate, service charges, taxes, and hotels are increasingly taking on “resort fees” to cover amenities like internet access, parking, gym, spa, and pool — even if you never use them. These fees, which can significantly increase the total cost of a room, are almost never included in the advertised price and are often minimized or omitted until it comes time to actually book your stay.
[More]

frankieleon

Lawsuit: Government Illegally Garnishes Disability Benefits To Repay Student Loans

Earlier this month, a Government Accountability Office report found that $171 million was garnished from older Americans’ Social Security benefits in order to repay federal student loan debts. Now, one of those borrowers is suing several government agencies accusing them of taking money from his monthly disability checks despite the fact he was eligible for a student loan discharge.  [More]