Welcome to Consumers’ Notebook, where we feature news-you-can-use and other timely information to help you become a more informed consumer. Check back often to read the latest pieces in our Notebook.
CarShield Will Pay $10 Million to Settle Deceptive Advertising Charges
Vehicle-service-contract company CarShield will change its business practices and pay a $10 million monetary judgment to resolve deceptive advertising charges brought by the Federal Trade Commission against its parent company.
Saving on Gas: Which Rewards Credit Cards Offer the Best Deals at the Pump?
Don’t assume that gas station credit cards offer the best discounts or rebates on fill-ups. General-purpose cash-back cards are typically more rewarding.
Credit Card Reward Programs Under Scrutiny by Federal Regulators
The lure of rewards programs encourage people to apply for credit cards and use them to earn free airline tickets or hotel nights. Federal regulators warn that new rules might be needed to protect consumers from unfair industry practices.
FTC Orders Online Used Car Dealer Vroom to Refund Customers $1 Million
Vroom, a Texas-based company that until January sold used cars online, has agreed to settle a lawsuit by agreeing to refund $1 million to customers harmed by its allegedly illegal conduct. Vroom's marketing promised a better way to buy and sell used cars, online, with no need to do go a dealership. Vroom also agreed to change its business practices, should it sell cars online in the future.
Straight Talk About Nutritional Supplements
Most supplements are manufactured and sold with no oversight to ensure quality, safety, and effectiveness. Consumer advocates caution that many of these products are marketed with dubious claims.
CFPB Wants to Ban Medical Debt from Credit Reports
The Consumer Financial Protection Bureau wants to reduce the financial fallout from unpaid medical debt, a growing problem in the U.S. This week, the agency proposed a rule that would remove medical debt from most credit reports.
Fraud Alert: Scammers Are Sending Bogus Text Messages to Collect ‘Unpaid Tolls’
If you receive a text message requesting payment for unpaid toll charges, assume it’s a scam.
CFPB Tightens Rules for Buy Now, Pay Later Plans
Beginning later this year, consumers who use Buy Now, Pay Later services should have an easier time disputing charges or getting refunds when they have problems with their purchases.
How to Find a Reliable and Affordable New Car
The U.S. car market has nearly recovered from the pandemic’s impact. There is now an ample supply of new and used vehicles, which has flattened price hikes and increased the availability of incentives.
Federal Court Blocks Rule that Would Cap Credit Card Late Fees
A federal judge in Texas has blocked a new rule from the Consumer Financial Protection Bureau (CFPB) that would have capped most credit card late fees at $8. The ruling comes just days before the rule’s planned May 14 implementation date.
Summer Surprise: U.S. Travel Costs Mostly Holding Steady
It’s not summer yet, but vacation season is already in full swing for both domestic and overseas trips. What can you expect to pay for your summer getaway? It depends on where you’re headed. Prices are so far holding steady for many destinations but are on the rise for popular vacation spots.
Stay Alert for Medical Billing Fraud
Medical data breaches are becoming increasingly prevalent, posing significant threats to patient privacy.
Per New FCC Rule, Internet Service Providers Must Display Broadband ‘Nutrition Labels’ for Clearer Pricing
A new FCC rule requires internet service providers to use standardized “Broadband Facts” labels that display complete and accurate information on costs and typical speeds.
Study: Financial Anxiety Impacts Attitudes About the Consequences of Debt
A new survey conducted for the National Foundation for Credit Counseling found that many Americans feel left behind and are stressed about trying to make ends meet. This anxiety is making more Americans comfortable with taking on too much debt.
Why Are Grocery Prices Still So High?
Overall inflation in the last four years was 19 percent, but grocery prices jumped 25 percent, according to the USDA. And once food prices go up, they tend to stay there. A variety of factors are pushing prices higher.
Product Safety Recalls on the Rise; Refunds Often Difficult to Get
The U.S. Consumer Product Safety Commission announced 323 product recalls in 2023—the most in seven years—involving tens of millions of products, including toys, clothing, and home appliances.
Bankers Sue to Block New Rule That Curbs Credit Card Late Fees
A new rule from the Consumer Financial Protection Bureau will limit how much most credit card companies can charge customers who make late payments, capping most late-payment fees at $8.
Comcast Says It Will Stop Using Misleading ‘Xfinity 10G Network’ Branding
In response to recommendations from an industry watchdog group, Comcast has reluctantly agreed to change the way it describes its high-speed-internet service.
New Report: Credit Unions and Small Banks Often Offer the Best Credit Card Rates
Looking for a credit card? Be sure to check offers from credit unions and small banks. According to a new report from the Consumer Financial Protection Bureau, large banks tend to offer “worse credit card terms” and “substantially higher interest rates” than credit unions and small banks.
Why You Really Need an Emergency Savings Fund and How to Start One
Life happens. Maybe it’s an unexpected medical bill, car repair, or home appliance on the fritz. We all need to build a rainy-day fund, because sooner or later it’s going to rain—but many people don’t have this crucial safety net.