It’s a typical refrain this time of year, “Happy New Year.” Usually people look back on the year left behind as we move into a new year. In recent years, I’ve been writing articles on the top 10 consumer and personal finance issues of the year that’s ending. Among 2023 highlights were the economy recovering and pay increases for many workers.
It’s that time of year again. It’s unbelievable that 2023 has rolled by so fast. That means that the 2024 election is getting even closer and closer, an election with so many consequences for consumers and their financial lives. As usual, I’m one of the few reporters writing about the top consumer and personal finance stories of the year, research that I enjoy.
Be sure research any company carefully if you’re considering a land deal. A Texas-based developer and lender operated an illegal land sales scheme and targeted tens of thousands of Hispanic borrowers with lies and predatory loans, according to a lawsuit filed Wednesday by the Consumer Financial Protection Bureau and the Justice Department.
Are you eligible to receive money from a Google settlement? Google agreed to pay $700 million to settle a lawsuit charging that the company used its monopoly power to charge consumers as much as 30 percent for purchasing apps and making in-app purchases in its Play Store. The agreement requires Google to pay restitution and change procedures.
There are rules debt collectors are supposed to abide by when they deal with consumers. However, many may break the rules if you’re uninformed. Commonwealth Financial Systems, a medical debt collector, illegally tried to collect unverified medical debts after consumers disputed the validity of the debts,
About 50 percent or more of price increases driving recent inflation is caused from price gouging. On Thursday, finally, President Biden called out the pharmaceutical industry for raising prices too much. Dozens of pharmaceutical companies will be required to pay rebates to Medicare for outrageous price hikes on prescription drugs.
High-powered magnets are dangerous to kids. About 2,400 cases of magnets being ingested were treated in hospital emergency departments from 2017 through 2021. Seven deaths occurred. When the magnets are swallowed, they can cause perforations, twisting and/or blockage of the intestines, infection, blood poisoning, and death.
Atlantic Union Bank illegally enrolled thousands of customers in checking account overdraft programs by phone and failed to provide proper disclosures, a federal agency said Friday as it took action against the bank. The CFPB is ordering Atlantic Union to refund at least $5 million in illegal overdraft fees and pay a $1.2 million penalty to the its victims relief fund.
Last year, Credit Karma agreed to pay $3 million to settle charges that it deceived people by claiming – falsely – that they had been “pre-approved” or had “90% odds” of approval for credit cards or loans offered by banks and lenders that used Credit Karma to promote their financial products. Many people weren’t approved for credit.
