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.
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.
Be sure to check out any DNA testing firms that you’re considering buying a test kit from. CRI Genetics made false claims on its websites and social media that its ancestry reports were more accurate and detailed than other DNA testing companies, such as Ancestry DNA and 23andMe, according to a joint lawsuit by two agencies.
Best wishes on this national holiday for gratitude and giving thanks. I hope you’re able to join with family or friends to celebrate. Ninety-seven percent of Americans say they’ll be celebrating Thanksgiving, with 26 percent saying they’ll be hosting, according to WalletHub.com, a personal finance website. About 40 million Thanksgiving meals will include a turkey being served.
Influencers are required to let consumers clearly know that they’re being paid for their content. After the WHO classified artificial sweeteners such as aspartame as a possible carcinogens, influencers – including some dietitians – began posting content criticizing action. Aspartame is used in products such as diet soda, yogurt, and chewing gum.
World Against Toys Causing Harm announced its 51st annual nominees for the “10 Worst Toys” of the year. Although intended for fun and entertainment, many toys contain hidden hazards unnecessarily putting children at risk of harm. Making safe toys needs to be the top priority in the design, manufacture, and marketing of children’s playthings.
It’s amazing that as we’re all suffering from inflation so little is said about corporate price gouging and the role it’s playing in price increases. Fortunately, there’s a watchdog group that keeps researching inflation. Here’s the latest from Accountable.US: The increase in basic prices having risen at the smallest rate since September 2021.
