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Consumer Protection

Financial watchdog to introduce new rules for prepaid debit cards
May 23, 2012 1:00 PM

Today, the Consumer Financial Protection Bureau is expected to issue new rules for prepaid debit cards, which tend to offer weaker consumer protections than those provided by traditional debit cards, yet are being used by many in the U.S. as a substitute for bank accounts.

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Even with Credit CARD Act, some still use plastic as safety net
May 22, 2012 4:15 PM

On the third anniversary of the Credit Card Accountability Responsibility and Disclosure Act being signed into law, the average debt has declined, but many Americans are still using credit cards as a way to cover basic living expenses, according to a national survey from the policy center Demos.

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Refunds coming to buyers of Oreck products with 'false' health claims
May 21, 2012 5:45 PM

Starting this week more than 27,000 consumers who purchased certain vacuum cleaners and air purifiers made by Oreck will be getting checks for $25 from the Federal Trade Commission under an agreement between the government and the manufacturer. Oreck claimed its Halo vacuum and ProShield Plus air purifier could reduce the risk of flu and other illnesses, and eliminate virtually all common germs and allergens. Last year Oreck agreed to pay the FTC a $750,000 fine.

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Skechers settlement underscores why toning shoes aren't a good deal
May 17, 2012 5:15 PM

We've told you before to stay away from so-called toning shoes because of apparent safety risks. Yesterday's settlement between the Federal Trade Commission and Skechers over the company's deceptive and unsupported claims gives you another reason to consider other fitness footwear.

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FTC acts on $70 million cramming scam
May 10, 2012 11:30 AM

For the fourth time in 14 years, the Federal Trade Commission has taken action against the nation's largest charge-it-to-your-phone-bill company, Billing Services Group (BSG), for alleged "cramming," or placement of unauthorized charges on consumers' phone bills.

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FCC warns consumers about prepaid calling cards
May 9, 2012 4:00 PM

The Federal Communications Commission has issued an enforcement advisory on prepaid phone cards, following the latest study from Consumer Reports on the problems they pose for vulnerable, low-income communities.

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Buying advice on phone cards in eight languages
May 8, 2012 9:00 AM

Suppose you went into a convenience store to buy a container of milk for $2, but didn't know whether the clerk behind the counter was going to give you a pint or a gallon.

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New FCC rules help you prevent cramming on landline phone bills
April 30, 2012 3:30 PM

The Federal Communications Commission has taken steps to protect you from difficult-to-detect fraudulent charges on your landline phone bill. The new FCC rules combat illegal placement of unauthorized charges.

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Life insurers ordered to pay $260 million in death benefits
April 25, 2012 9:00 AM

Life insurance benefits typically are not paid until a beneficiary files a claim after a policyholder dies. But family members often are unaware that their deceased loved ones had a policy, and insurers historically have made little effort to learn when their policyholders die and track down beneficiaries.

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Student loan interest could double, unless Congress acts
April 24, 2012 4:00 PM

Interest rates on new subsidized Stafford student loans will double to 6.8 percent if Congress doesn't extend a cap that has helped make the loans more affordable.

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Beware of fraudulent USPS package alerts sent by e-mail
April 20, 2012 5:00 PM

Some postal customers are getting bogus e-mails about a package delivery or online postage charges that contain a link or attachment that, when opened, installs a virus that can steal personal information.

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New FCC site can help you combat wireless carrier 'bill shock'
April 20, 2012 2:45 PM

The Federal Communications Commission today launched a new 'bill shock' website that tracks how the major U.S. wireless carriers alert you when you're at risk of going over your usage limits for voice, data, and text.

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Mobile payments may replace cash, credit by 2020, experts say
April 17, 2012 4:45 PM

By 2020, mobile payments will have gained mainstream acceptance and could largely replace cash and credit for most online and in-store purchases, according to a new survey of technology experts and stakeholders by the Pew Internet & American Life Project released today.

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Bank challenging Credit CARD Act offers doozy of a credit card
April 13, 2012 6:10 PM

The bank that triggered a flurry of consternation this week over its apparently successful challenge to the 2009 Credit CARD Act offers a credit card for subprime borrowers that prompted a warning last year from Consumer Reports.

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CFPB unveils new financial aid comparison tool
April 12, 2012 2:00 PM

The Consumer Financial Protection Bureau has launched the next phase of its Know Before You Owe student loan project by releasing the Financial Aid Comparison Shopper, an interactive, online tool you can use to help plan for college costs.

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