Unlocking your phone is legal, and the wireless industry agreed months ago to a set of conditions that went into effect earlier this year that allow consumers to do just that. Those companies all promised the FCC that they had a plan. And when you tell a federal agency that you have a plan, you probably actually should, and ought to follow it, too. One company didn’t, and that has landed them in some hot water with the commission.
FCC, TracFone Reach Settlement: Provider Will Now Unlock Customers Phones’ Like They Said They Would
Kohl’s Corporation must shell out nearly $1 million to settle lawsuits with four California counties over allegations the company charged customers more than the price advertised on shelves and signs. [More]
The three largest companies to collect and disseminate credit information for millions of Americans – Experian, Equifax and TransUnion – must significantly change the way they treat disputed information on credit reports as part of a massive multi-state settlement announced this week. [More]
Although dyeing your hair an ashen color is apparently a fashion thing right now, some consumers will try just about anything to stall the steely tint from cropping up on their heads: including shelling out big bucks for dietary supplements that promise to prevent or reverse the presence of gray hair. Only, according to a new settlement with the Federal Trade Commission, those claims weren’t actually backed by science. [More]
Black & Decker To Pay $1.57M Penalty For Failing To Report Defects Of Lawnmower That Started On Its Own
Under federal law, manufacturers, distributors and retailers are required to immediately report information regarding possible safety defects to the Consumer Product Safety Commission within 24 hours of obtaining reasonable supporting evidence. That 24-hour window allegedly turned into 11 years for Black & Decker and now the company must pay a nearly $1.6 million fine for failing report safety issues related to an electric lawnmower that started spontaneously, injuring at least two consumers. [More]
Some homeowners who were wrongly denied mortgage assistance from Wells Fargo will soon receive the help they needed years ago after a federal judge ruled this week that the bank’s denial of modifications were in breach of a 2010 settlement involving adjustable-payment mortgages. [More]
The lawsuit filed by the family of a Georgia woman who died in a 2010 car accident that spurred the recall of 2.5 million General Motors vehicles with faulty ignition switches has been settled out of court. [More]
Citigroup Forgot To Compensate 23,000 Consumers For Abusive Foreclosure Practices, Sending Checks Now
Several years ago, Citigroup reached a deal with federal regulators that required the company to provide compensation for nearly 380,000 people affected by foreclosure abuse. Only the lender didn’t exactly follow through, failing to send checks to 23,000 consumers. [More]
Online Payday Lending Companies To Pay $21 Million To Settle Deception Charges, Must Waive $285M In Loans
It’s no secret that payday lending companies charge high interest rates and a butt-load of fees for their small dollar, short-term loans. Payday lending companies break federal laws by not being upfront about the often highly inflated fees they charge. The FTC today jumped in to block two online payday lending companies from preying on consumers with the highest fine ever levied against a payday lender. [More]
Earlier this year, AT&T and T-Mobile both reached major settlements with federal regulators over the illegal practice of cramming: third-party charges snuck onto wireless customers’ bills without their authorization. Combined, the two settlements will put about $170 million back in consumers’ pockets. But in order to get money back, consumers first have to ask for it.
Rounding out a week punctuated by new accusations of mobile carriers overcharging consumers using a practice known as “bill-cramming,” one past lawsuit is being put to rest. T-Mobile agreed today to shell-out at least $112.5 million to settle a Federal Trade Commission lawsuit that the “Un-carrier” tacked-on unwanted third-party charges to customer’s bills. [More]