FTC settlement shows why a car-repair contract may be a bad idea
Car repairs are a dreaded expense for most families. When you see a TV ad – with a celebrity saying […]
Fraud
Solar energy financing lenders use predatory methods in all states, report shows
And, again, history repeats itself. The nation’s leading residential solar energy financing lenders are using predatory methods including undisclosed profit arrangements with their preferred installers and expensive financing with hidden fees as a standard practice to target consumers for financial exploitation, according to a new report.
Finally, something may be done about corporate price gouging that’s contributing to inflation
Thursday I wrote about how more than 50 percent of inflation is caused by corporate price gouging and wondered why politicians don’t talk about it and news organizations don’t cover it. Friday I was going to write about the Consumer Financial Protection Bureau suing Acima and its former chief executive officer Aaron Allred for illegal lending activities.
Corporations continue to charge consumers high prices, leading to record profits, which is a major cause of inflation
It’s amazing that corporate price gouging gets such little attention. It’s responsible for more than 50 percent of inflation that’s causing consumers so much stress and hardship. However, it gets little publicity. Accountable.US, a consumer watchdog group, reports lots of information on this, but I seldom see it in the press. Here are a few examples:
Big banks make huge profits while taking more than $2.5 billion in junk fees from struggling American families
As the Biden administration works to curb junk fees, big banks keep charging the fees while earning record profits and some even want to increase the fees. CitiGroup, Wells Fargo, and JPMorgan Chase & Co. – three big banks that continue to charge junk fees – announced Friday more than $26 billion in combined second quarter earnings.
Tips for buying a used car online
Buying a used car instead of a new one will probably save you money. However, finding, researching, and negotiating to buy a used car online can be difficult. Online sellers advertise they can make car purchases cheaper and easier, but some of them use tactics that could end up costing you time and money.
Be careful when using nonbanks
Consumers are used to depositing their money in banks and savings associations, which are insured by the Federal Deposit Insurance Commission. However, some consumers are opening accounts these days with nonbank financial companies, usually online or through mobile apps, such as technology companies providing financial services.
For eighth year, auto-related issues are the top complaint in consumer group’s survey
Not surprisingly, auto sales and repair issues continue to perplex consumers. The Consumer Federation of America released its annual report surveying consumer complaints made to 33 state and local government agencies across the country.
States announce $10.5 million settlement with wireless carriers over deceptive ads
Another industry is being exposed for years-long tricks it engaged in to fool consumers and make more money at their expense. Major U.S. wireless carriers agreed to a $10.25 million settlement Thursday after an industry-wide investigation by a coalition of 50 state attorneys general of misleading advertising practices.