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Consumer News & Alerts

May 5, 2008

By Martin H. Bosworth
ConsumerAffairs.com

FEDS BACK STRONGER CREDIT, DEBIT CARD RULES
In a major win for consumers, the Office of Thrift Supervision (OTS) and the Federal Reserve have endorsed new regulatory protections for credit and debit card holders, including relief from overdraft fees, banning double-cycle billing, and ensuring customers have time to pay their bills before getting dinged with late fees. Mark Huffman and Martin H. Bosworth report that the rules are very similar to legislation being pushed by Congress that would end the most egregious abuses of credit card agreements against customers. Read more ...

More economic and financial news...

• Court Rules Credit Card Arbitration Lawsuit Can Go ForwardSuit charging collusion between banks and creditors against customers.

• Realtors Frustrated by Banks' Lack of Interest In Short Sales Pre-foreclosure sales help both troubled homeowner and the buyer.

• Bank Of America Tries To Stem Rising Foreclosures Says its acquisition of Countrywide will help distressed homeowners.

• First-Quarter Foreclosures Up 112% Home prices plunge 12.7%, with no bottom in sight.

LIFELOCK SALES SURGE DESPITE CRITICS
Identity theft service Lifelock is most famous for its commercials and ads that display founder Todd Davis' Social Security number as proof of how secure the service is. But critics charge that the "concierge" protection Lifelock offers can be handled just as easily -- and more cheaply -- by consumers themselves, through ordering free credit reports and setting up fraud alerts on their accounts. Joseph Enoch takes a look at the complex history of Lifelock.

RETAILERS SPLIT HAIRS OVER STYLING PRODUCTS
You probably think you're getting a bargain by picking up that expensive shampoo or hair styling gel at a retail or drug store instead of at a professional salon, right? Wrong. Retailers are profiting off the sale of "diverted" hair care merchandise -- that may be outdated or counterfeit -- at prices higher than you'd likely pay at a salon. Lisa Wade McCormick investigates the hair care industry's push to prevent retailers from selling diverted hair care products.

More consumer safety and protection news...

• Whirlpool Settles Water Heater Class Action Multiple failures annoy homeowners.

• Report Finds Flaws In Food Inspection System Food safety system has broken down, report warns.

• Despite Warnings, More Consumers Fall Victim to Cyber Scams Law enforcement barely makes a dent in crooks' efforts.

• Court Orders Tyson to Pluck its 'No Antibiotics' Campaign Competitors sued Tyson, claiming its ads were misleading.

• Public Citizen: Movers Database Missing Crucial Information Consumers still won't know which companies may hold their belongings hostage.

• Wachovia Penalized $144 Million for Telemarketing Abuses Telemarketers preyed on thousands of senior citizens.

• EPA Orders Scotts to Stop Sales of Two More Pesticides Agency charges labels are false, misleading.

BAKERS: ETHANOL POLICIES "HALF-BAKED"
The mad rush by Congress to mandate production of ethanol as an alternative to oil fuels may have triggered a spike in food prices that leave consumers paying more for essentials, according to an association representing the nation's bakers. Even as farmers and ethanol producers pin the blame on high fuel costs, Mark Huffman reports that some lawmakers are rethinking their support for ethanol and may pass laws freezing the mandate.

This week's automotive news...

• 18 Days of Record Gas Prices San Francisco over $4, Block Island at $4.14.

• Consumers Warned About Gas-Saving Schemes Few devices or additives work as advertised.

• Consumers Turn Away from Trucks, SUVs in April Prius sales jump.

• Ford Cruise Control Fire Strikes Florida Car Dealership More fires hit North Carolina, South Carolina and Texas.

• Rusting Hyundai Sonatas Prompt Federal Probe Corrosion can cause suspension to fail, wheels to fall off.

ANOTHER MEAT RECALL
Gourmet Bouquet is recalling fresh and frozen meat products, the second recall for the New York company in as many months. The beef, pork and poultry products may be contaminated with listeria, the USDA warned.

More recalls ...

• Toyota Highlander, Highlander Hybrids

• Ford Recalls F-250, F-350 Trucks for Fire Hazard

• Mercedes Benz ML350 Hot Seat Draws Feds' Attention

• VW Recalls New Beetles and Convertibles

• Lowe's Children's Storage Bins

• QVC SoleusAir Space Heaters

• Nintendo Lapel Pins

• DEWALT Table Saws

• Rio Beach Chairs

• LivingXL Hammocks

FCC LOOSENS RULES ON DTV TRANSITION UNDER LOBBYIST INFLUENCE
Thanks to a heavy-duty push by the electronics industry, the FCC has modified rules governing the digital television (DTV) transition, giving manufacturers even more time to label their products as being ready -- or not ready -- for the changeover from analog to digital signals on February 17, 2009. In addition, the FCC exempted companies from providing a telephone number to answer consumer questions, largely because many of the retailers did not have a consumer telephone line in place to begin with. Read more ...

DOG BITES: NO WALK IN THE PARK
Over 4 million Americans get bitten by dogs each year, and of those, 800,000 require medical attention. Children and the elderly are the most likely to be bitten by dogs, either due to lack of knowledge on how to interact with them, or because they're slower and weaker than healthy adults. In this week's edition of the "Healthy Geezer," Fred Cicetti walks you through everything you need to know on avoiding dog bites, and how to treat wounds in case you do get bitten.

This week's health news...

• Women Less Likely to Spot Heart Attack Warning Signs 'Classic' symptoms often aren't present in women.

• Daily Aspirin May Reduce Risk of Breast Cancer Large study finds reduction applies only to some types of breast cancer.

• FDA Finds Hazardous Levels of Chromium in 'Total Body Formula' Agency reports 200 confirmed cases of adverse reactions.

• Bursitis Common But Treatable Problem is more common among the elderly.

• Teflon Chemicals Found In Human Breast Milk Non-stick residues turning up just about everywhere.

• Studies Find Link Between Diabetes and Alzheimer's Both increasing at an alarming rate in the U.S.

• Doctor Offers Antidote To 'Super-Size Me' Diet Organ damage can be reversed if consumers give up their unhealthy lifestyle.

• FDA Believes Heparin Was Deliberately Contaminated FDA allegedly bungled inspection of plant in China.

• Study Links Artificial Blood To Higher Death Rate Researchers criticize FDA's 'secret science' policy.

• This Year's Spring Allergy Capitals Named Lexington, Ky., takes 'most challenging' title.

• FDA Panel Urges Clearer LASIK Warnings Consumers should be told of the risk of complications.

• Hanna Montana Photo Flap Part of a Trend Sexualizing of 'tweens' a disturbing development.

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