Consumer News & Alerts

June 29, 2009

By Martin H. Bosworth
ConsumerAffairs.Com

THE CASE AGAINST CHASE
Chase credit card account holders got a nasty surprise when the financial giant informed them that it was raising the minimum payment due from two percent to five percent. Cardholders on fixed incomes or those out of work may find the new mandatory payments too hard to handle, says Mark Huffman, while Chase is scrambling to recoup potential revenue losses ahead of new credit card legislation that would ban such sudden rate hikes. And Jon Hood reports that the policy change is only the latest in a series of Chase tactics that have customers and regulators alike seeing red. Read more...

This week's financial news...

• How to Solve 5 Common Money Problems Experts offer advice for Americans dealing with unemployment, overspending, debt, foreclosure or wrecked retirement savings.

• Consumer Spending, Saving, Both Rise Future trend may indicate higher savings.

• Cut Your Own Interest Rates No help from the Fed? Follow these tips to make your money go further.

• Economic Trends Looking Better For Consumers Oil prices may have peaked, for now.

• What Can the Fed Do About Mortgage Rates? Will the Fed continue to target long-term interest rates at this week's meeting?

• Peer-To-Peer Sites Offer College Loans Four peer-to-peer lending sites offer loans for students and parents seeking college funding.

• Finding A Financial Planner Finding the right financial planner for you takes a little detective work and interviews with several advisers.

• 8 Ways To Find and Keep a Temporary Job In tough times, the path to a permanent job might be through temping. These tips can make it happen.

Mortgage news...

• Marketing Analysis Suggests Housing Bottom Direct mailing onslaught for products trails off.

• Mortgage Rates Edge Up Slightly The 30-year fixed-rate mortgage moved to 5.80 percent, according to Bankrate's weekly survey.

• Good Times, Bad Times for First-Time Buyers Buying a home was made very easy for first-timers several years ago. With prices at such low levels, are those loan packages still out there?

OBAMA SIGNS "CASH FOR CLUNKERS"
In an attempt to jump-start the rusted out auto industry, President Obama signed the "Cash for Clunkers" bill, which enables drivers to turn in their gas guzzlers in exchange for a voucher of up to $4,500 towards a new, fuel-efficient model. Automakers say the bill could stimulate sales or trade-ins of 150,000 new cars, but Republicans and environmentalists alike found fault with the legislation as being too costly and too ineffective. Scam artists, meanwhile, are already gearing up to fleece consumers looking for a good deal. Read more...

More information on "Cash for Clunkers"...

• Buying a New Car with Cash for Clunkers Dump your gas guzzler, get that new-car smell, save money and help the environment, all at once.

• Is Cash for Clunkers Right for You? Before taking up Obama on Cash for Clunkers, decide if selling your car would bring more money.

• Watch Out For Fake "Cash For Clunkers" Scams Hucksters prey on those trading in cars for vouchers.

This week's automotive news...

• Gas Prices Fall For Fifth Straight Day Nationwide average four cents lower than last week.

• New Car Sales Show Improvement From May Uptick may indicate slow, steady market recovery.

• Chinese Purchase of Hummer in Doubt Chinese government opposes deal; no other buyers in sight.

• States Challenge GM Sale Claim deal harms consumers, dealers.

• J.D. Power Survey Finds American Cars Are Improving Quality in vehicles, not balance sheet.

PEOPLE TO PEOPLE SETTLES WRONGFUL-DEATH SUIT
The family of Tyler Hill, who died on an overseas trip to Japan sponsored by People to People in 2007, has settled with the organization, according to Lisa Wade McCormick. The terms of the settlement are confidential and must be approved by the Minnesota District Court. The organization, which promotes its ties to former president Dwight D. Eisenhower, was accused by the Hills of not providing medical assistance for Tyler when he fell ill on a hiking trip in Japan, despite his disclosure of having diabetes and migraine headaches. Read more...

SNAPPLE LAWSUIT TO BE REINSTATED
What if the "greatest stuff on Earth" really wasn't all that great? That's the premise of a lawsuit brought against Snapple, disparaging its claims of being "all-natural" due to its usage of high-fructose corn syrup, a major contributor to obesity. The lawsuit was originally tossed out in 2007 due to claims that federal law superseded state law when it came to ingredient label requirements, but a panel of New Jersey judges may be on the verge of reinstating the suit, reports Jon Hood. Read more...

NESTLE CLOSES COOKIE DOUGH PLANT AT CENTER OF RECALL
Sales of food tainted with disease or bacteria don't just harm the consumer — they harm the economy as well. The latest example is Nestle shutting down the plant that may have produced cookie dough tainted with E.coli, according to a warning from the Food & Drug Administration (FDA). The plant is located in the small Virginia town of Danville, and Nestle says the shutdown will force it to furlough some of the workers. Read more...

More consumer protection news...

• Save on Electricity with Off-Peak Rates This month's Frugal Sense winner saves on electric costs by taking advantage of off-peak rates.

• Most Consumers Lack Confidence In Food Safety, Survey Says Skepticism grows in wake of recalls.

• Some Payday Lenders Operate Outside U.S. Law Firms affiliate with Indian tribes.

• Payday Lenders Resist APR Comparisons How much are you really paying for that loan?

• New York Shuts Down Debt Collection Ring Buffalo-based collectors allegedly used illegal tactics.

• States Wants AIG Bonus Probe States want expanded federal investigation.

• Massachusetts Halts False Foreclosure "Rescue" Activity Firm claimed to be "non-profit."

• Liberty Tax Service Barred From Deceptive Ads Con artists prey on the faithful.

• FDA Warns Consumers Against California Pistachio Brands Products linked to the previous recall by Setton Pistachio; May contain salmonella.

FEDS OFFER DTV RECEPTION ADVICE
Although the initial government response to the digital television transition was that everything was fine, apparently the Federal Communications Commission (FCC) has gotten enough complaints from disgruntled TV viewers that it's publicizing the additional steps you may need to get the new signals. The FCC reminded consumers this week that everything from "double rescanning" to moving the antenna around could be necessary to get the best DTV reception. Read more...

More technology news...

• Save on Electricity with Off-Peak Rates This month's Frugal Sense winner saves on electric costs by taking advantage of off-peak rates.

• Obama Nominates Bush Official to Fill FCC Seat Appointee oversaw controversial DTV coupon program.

• Wireless Carriers Agree To $1.5 Million Cramming Settlement Some Florida subscribers to get refunds.

• 70 Percent Of Spam Comes From China Domains are dirt cheap in China.

• "Clear" Registered Travel Program Goes Dark Company abruptly shuts off service for frequent flyers.

• TJ Maxx Settles Data Breach Charges Company will pay $9.75 million to 41 states.

• Online "Treasure Hunt" Can Be Costly Not affiliated with Google.

• Apple Sells One Millionth iPhone 3GS Sales pace equals last year's 3G.

• Unwelcome "Cell" Text Violated Federal Communications Laws Verdict a blow to texting telemarketers.

MAYO RESEARCHERS REPORT CANCER BREAKTHROUGH
For years it's been medicine's Holy Grail — a cure for cancer. Doctors at the Mayo Clinic aren't saying they've found it, but they think they may be getting close. Two patients whose prostate cancer had been considered inoperable are now cancer-free, doctors say. The men were treated using an experimental drug therapy that was used in combination with standardized hormone treatment and radiation therapy. Read more...

More health news...

• Feds Seize Alleged Seizure-Inducing Drugs FDA acts to prevent repeated drug quality problems.

• FTC Chief Urges End To "Pay For Delay" Settlements cost consumers $3.5 billion annually.

• FDA Approves Generic 'Plan B' Pill Still prescription-only under 17.

• Light Menu Items Struggle Against Heavyweight Choices >Mouth says healthy but stomach says otherwise.

• Health-Related Bankruptcies Up 50 Percent Older consumers particularly hard-hit.

SAFETY RECALLS

• DEWALT Framing Nailers
• Loyal Bedding Mattresses
• PowerPlus Generators
• Crane Whirlpool Bathtubs
• Black & Decker Coffeemakers
• Poseidon Besea Diving Wings
• Orangatang Skateboard Wheels

NEW ROGUES...

Every day we add hundreds of new consumer complaints and comments to our site. And each day sees a the addition of companies and products that haven't previously appeared in our Rogues Gallery. Here's the latest batch of newcomers:

• Freedom Debt Relief
• EgyptianPeddler.com
• Vacation Ventures
• Buyers Home Warranty
• Next Jump
• Tires-Easy.com
• Loud 'N Clear
• Brand Source Appliances
• CTM Mobility
• PetStages
• Walkfit LLC
• LaJobi
• Subway
• Ourdivorceagreement.com
• National Grid
• Amica Life
• CIT Financial
• Cape Air

We want to hear from you. If you've had a problem -- or a pleasant experience -- with a company, product or service, please let us know, using our secure complaint form.

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