Current Events in December 2021

Browse Current Events by year

2021

Browse Current Events by month

Get trending consumer news and recalls

    By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

    Thanks for subscribing.

    You have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

    Honda recalls Accord Sedans & Hybrids, CR-Vs & Hybrids, and Ridgelines and Insights

    The seat belt retractor may malfunction

    American Honda Motor Co. is recalling 4,346 model year 2021 Accord Sedans, Accord Hybrids, CR-Vs, and Ridgelines, as well as model year 2022 Insight and CR-V Hybrids.

    The automatic locking retractor on the second-row center seat belt assembly may deactivate improperly, which can result in an unsecured child restraint system.

    An unsecured child restraint system can increase the risk of injury in a crash.

    What to do

    Dealers will replace the second-row center seat belt assembly free of charge.

    Owner notification letters are expected to be mailed on January 17, 2022.

    Owners may contact Honda customer service at (888) 234-2138.

    American Honda Motor Co. is recalling 4,346 model year 2021 Accord Sedans, Accord Hybrids, CR-Vs, and Ridgelines, as well as model year 2022 Insight and CR...

    Nissan recalls model year 2022 Frontier Crew Cab Long Bed trucks

    The tow hitch was not installed

    Nissan North America is recalling 22 model year 2022 Frontier Crew Cab Long Bed trucks.

    The tow hitch was not installed, compromising the structural integrity of the fuel tank in a rear crash.

    The leaf spring could contact the fuel tank in a crash, causing a fuel leak and increasing the risk of a fire or injury.

    What to do

    Dealers will install the tow hitch and harness kit free of charge.

    Owners may contact Nissan customer service at (800) 867-7669. Nissan's number for this recall is PC855.

    Nissan North America is recalling 22 model year 2022 Frontier Crew Cab Long Bed trucks.The tow hitch was not installed, compromising the structural int...

    Experts warn holiday travelers about crowded airports and roadways

    Consumers should hit the road early and make sure their vehicles are ready for the trip

    Forecasts from a variety of travel watchers suggest that travelers hoping to go somewhere this week need to be more prepared for more delays than they have in the past couple of years.  

    Overall, the American Automobile Association (AAA) and Inrix state that there will be 109 million people on the road or in the skies this year. That’s 34% higher than last year, accounting for an additional 27.7 million travelers. That won’t quite get us all the way back to where we were before the pandemic, but the study said travel volume will reach 92% of 2019’s levels.

    Much of that increase will come from travelers who will fly rather than drive somewhere. AAA and Inrix stated that the airline industry will see a 184% increase from last holiday season. For a full breakdown of the best times to travel by day, check out Inrix’s forecast here.

    Hit the road early, but get your car checked out before you leave

    With such a dramatic increase, travelers who want to stay clear of the rush should try to hit the road early. Inrix stated that some major metro areas could see three times as many delays, and AAA said it expects to respond to as many as 917,000 calls for help. 

    AAA added that if a vehicle hasn’t been inspected lately, then it would be smart for travelers to have someone take a look under the hood as a safety precaution.

    “Vehicles that have been driven less during the pandemic should get an inspection to check key components like the battery, fuel system, tires, brakes and fluid levels to avoid an unnecessary breakdown,” a spokesperson for AAA said. “It’s important to do this as early as possible in case there is an issue that needs to be fixed.”

    COVID-19 requirements complicate travel plans

    Travelers also need to be prepared for the ever-changing landscape of COVID-19 stipulations. Not only has the White House set out new requirements, but the Centers for Disease Control and Prevention’s travel requisites can also change like the wind.

    “These large crowds, combined with ever-evolving Covid-related rules mean travelers should really be prepared for some turbulence as they get ready to head to the airport this year. Long check-in lines, particularly for international flights, are to be expected,” Willis Orlando, Scott’s Cheap Flights’ Senior Product Operations Specialist, told ConsumerAffairs. “Airline agents are tasked with confirming Covid-related documentation prior to checking folks in, which means that lines that used to be relatively quick are very likely to take quite a bit longer.”

    Airlines may bump passengers

    Ever since COVID-19 jumped into the pilot’s seat, buying an airline ticket has come with a new set of risks – one that will probably linger during the holidays. Experts say staffing shortages, overbookings, and cancellations may lead some airlines to bump passengers out of flights.

    The top 5 offenders, according to tracking data provided by UpgradedPoints, are a mix of smaller airlines and regional/feeder airlines that get passengers from smaller towns to larger hubs. They include:

    1. Envoy Air (a subsidiary of American Airlines), which bumped an average of 6.88 passengers per 100,000 between the start of 2020 to September 2021. 

    2. Frontier Airlines came in second with 3.73 involuntary denied boardings. 

    3. PSA Airlines (also a subsidiary of American) followed close behind in third with 3.06 bumps per 100,000 passengers. 

    4. Horizon Air (a subsidiary of Alaska Airlines) came in at fourth, with 2.37 denied bookings per 100,000 passengers.

    5. Republic Airlines (an operator of regional flights for American, United, and Delta) rounded out the Top 5, with 2.05 denied boardings per 100,000 passengers.

    “If you're traveling with Delta, JetBlue, United, or Allegiant, you can rest assured that you won't be bumped from your flight this holiday travel season,” a spokesperson for UpgradePoints told ConsumerAffairs. “These airlines were the least likely offenders on the list." 

    If there’s any sort of issue, such as getting bumped from an overbooked flight,  passengers can expect longer-than-usual waits for customer service. “Our best advice is to check your flight status frequently ahead of time on the airline’s website, so that if you are faced with any schedule changes, you can get out ahead of them,” Orlando said.

    “If you don’t need to check a bag, don’t. That’s just one fewer line you’ll have to deal with at the airport. And if you do find yourself needing to contact customer service, check to see if your airline offers a text message option via their mobile app. Many do, and it can be much more convenient, and less stressful, than sitting on hold.”

    Forecasts from a variety of travel watchers suggest that travelers hoping to go somewhere this week need to be more prepared for more delays than they have...

    Get trending consumer news and recalls

      By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

      Thanks for subscribing.

      You have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

      Coronavirus update: Moderna reports positive results against Omicron variant

      A study suggests that there’s a huge number of cases that have no symptoms

      Coronavirus (COVID-19) ‌tally‌ ‌as‌ ‌‌compiled‌‌ ‌by‌ ‌Johns‌ ‌Hopkins‌ ‌University.‌ ‌(Previous‌ ‌numbers‌ ‌in‌ ‌parentheses.)‌

      Total‌ ‌U.S.‌ ‌confirmed‌ ‌cases:‌ 50,896,569 (50,777,087)‌

      Total‌ ‌U.S.‌ ‌deaths:‌ 806,635 (806,302)

      Total‌ ‌global‌ ‌cases:‌ 275,036,978 (274,343,184)

      Total‌ ‌global‌ ‌deaths:‌ 5,357,666 (5,352,372)‌

      Moderna says booster is effective at blocking Omicron variant

      Moderna has announced preliminary data about the effectiveness of its booster against the Omicron variant. The company says the shot gives recipients a high level of protection against the new COVID-19 threat.

      The currently authorized booster shot increased neutralizing antibody levels against the Omicron variant by approximately 37-fold compared to pre-boost levels. A 100 µg dose of the vaccine booster increased neutralizing antibody levels approximately 83-fold compared to pre-boost levels.

      “To respond to this highly transmissible variant, Moderna will continue to rapidly advance an Omicron-specific booster candidate into clinical testing in case it becomes necessary in the future,” said Stéphane Bancel, Moderna’s CEO.

      Huge number of cases have no symptoms, study finds

      The world is in the grips of a surge in COVID-19 cases. Could an increase in testing have something to do with it?

      Researchers in China have completed a study that suggests 40% of people who test positive for the virus have no symptoms. That’s many more than previously believed. Health experts say people who don’t know they have COVID-19 may unknowingly be spreading it to more vulnerable populations.

      “This finding of a high percentage of asymptomatic infections among air or cruise travelers suggests that screening and quarantine on airport arrival is important for reducing community transmissions, especially in countries without local transmission,” the authors write.

      Three Democratic lawmakers test positive

      Three members of Congress – all Democrats – took to Twitter over the weekend to report that they have tested positive for COVID-19. Sen. Elizabeth Warren (D-Mass.), Sen. Cory Booker (D-N.J.), and Rep. Jason Crow (D-Colo.) all said they are experiencing mild symptoms. All had been vaccinated.

      "I regularly test for COVID & while I tested negative earlier this week, today I tested positive with a breakthrough case,” Warren wrote in a tweet. “Thankfully, I am only experiencing mild symptoms & am grateful for the protection provided against serious illness that comes from being vaccinated & boosted."

      In his announcement, Crow said he "just returned from an official congressional delegation visit to Ukraine and tested positive for a breakthrough COVID infection."

      Around the nation

      • Indiana: Indiana ranks last in the nation on WalletHub’s list of the safest states to avoid COVID-19. The state achieved the dubious distinction by having a low rate of vaccinations and a high rate of deaths, hospitalizations, and positive test results.

      • Colorado: More than a quarter of the state’s residents who died of COVID-19 lost their battle after vaccines were widely available and pandemic restrictions were lifted. Colorado’s death toll from the virus rose past 10,000 last week – more than 2,900 of those have come since the start of July

      • Nebraska: COVID-19 hospitalizations hit a 2021 high last year, and Dr. Angela Hewlett, the chair of Nebraska Medicine's health security, says the surge is displacing patients with other conditions. “We are in the process of converting an entire hospital tower over to COVID, and I think it’s important for people to remember that these beds were not unoccupied,” she told reporters.

      • New Jersey: The state is partnering with Vault Medical Services to provide free in-home COVID-19 tests to state residents. “This new program increases the availability and accessibility of testing, particularly for those who may not be able to get to a testing site,” said Health Commissioner Judy Persichilli.

      • Connecticut: The COVID-19 positivity rate is sharply higher in Connecticut, hitting 6.78% at the start of the weekend. Today, two new saliva-testing facilities are scheduled to open in Long Wharf and on New Haven Green.

      Coronavirus (COVID-19) ‌tally‌ ‌as‌ ‌‌compiled‌‌ ‌by‌ ‌Johns‌ ‌Hopkins‌ ‌University.‌ ‌(Previous‌ ‌numbers‌ ‌in‌ ‌parentheses.)‌Total‌ ‌U.S.‌ ‌confirme...

      YouTubeTV and Disney come to terms on a streaming agreement

      One cord-cutting expert says consumers can expect YouTubeTV prices to go up

      Google’s YouTube is ending 2021 on a high note – and with more for its subscribers. After reaching a deal to keep YouTube on Roku’s streaming platform, Disney and Google came to terms on Sunday to distribute Disney’s various channels on subscriber-based YouTube TV.

      "We appreciate Google's (GOOGL) collaboration to reach fair terms that are consistent with the market, and we're thrilled that our robust lineup of live sports and news plus kids, family and general entertainment programming is in the process of being restored to YouTube TV subscribers across the country," Disney said in a statement Sunday.

      The two sides failed on their original attempt to find a deal on Friday. Google decided to play hardball by dropping Disney-owned channels such as ESPN and ABC from its platform. It even decided to offer subscribers a $15 discount while Disney programming was sitting on the sidelines. 

      The gambit worked, Disney returned to the negotiating table, and YouTube TV started restoring access to Disney-owned channels – including FX, National Geographic, the ACC and SEC sports networks, and local TV stations that carried Disney’s ABC-TV network.

      Unhappy YouTubeTV users will get $15 back

      YouTubeTV said it will stand behind the $15 discount it promised to subscribers who were impacted by Disney’s content missing in action from YouTubeTV. 

      “For active members who have not yet received that $15 discount on their monthly bill, you will automatically receive a one-time credit on your next bill with no action needed,” YouTubeTV said in a blog post. 

      “For members who were impacted and have initiated the cancellation process, we would love to welcome you back. Visit tv.youtube.com/membership and click ‘Add’ to return the Base Plan to your membership. If you resume your membership before you lose access, we will still honor the one-time $15 credit on your bill. We’ll update this website soon with more details.”

      Rate hikes may be coming

      Cord-Cutter Confidential’s Jerad Newman told ConsumerAffairs that he was surprised the blackout happened in the first place, but he wasn’t surprised that the companies resolved their differences quickly. 

      “The only question now is whether the new deal will result in more price hikes to come,” he said.

      Newman stated that when streaming companies like Disney and YouTubeTV square off, it often comes down to how much subscribers are forced to pay to get those services.

      “Just like on the cable and satellite side, TV networks are constantly pushing for higher carriage fees, while providers such as YouTube TV want to keep prices down to avoid driving customers away,” Newman wrote in a blog post

      Even if YouTubeTV got what it wanted, Newman said Disney still holds the cards on what piece of the action it wants for itself. Although YouTubeTV hasn’t raised its rates for more than a year, it’s possible that prices may go up now that it’s added the Hallmark channels and presumably agreed to pay something extra to keep Disney in its line-up.

      “Given that Disney’s bundle channels are the most expensive on cable, it’s hard to see YouTube TV’s costs going anywhere but up in the end,” he said.

      Google’s YouTube is ending 2021 on a high note – and with more for its subscribers. After reaching a deal to keep YouTube on Roku’s streaming platform, Dis...

      Bank of America beefs up its rewards programs

      The bank is expanding available perks and increasing options

      While the credit card market seems to get a new rewards card every month or so, Bank of America is beefing up the perks across its portfolio of credit card and other financial services products.

      “Our Preferred Rewards program is designed to encourage our clients to bring more of their financial lives to Bank of America,” John Sellers, rewards executive at Bank of America, told ConsumerAffairs. 

      At the top, the bank has added new tiers of rewards for high net worth and ultra-high net worth clients. Among the rewards are mortgage and home equity rate discounts. They also get access to a 75% credit card reward bonus.

      “That means members can increase their rewards points from two per dollar on dining and travel purchases and earn up to 3.5 points per dollar unlimited,” Sellers said. “This is on top of the additional rewards, such as no-fee services, rate boosters on savings accounts, and interest rate discounts on auto loans.” 

      Retail, Preferred, Small Business, and Wealth Management clients qualify for tiered benefits based on the balances they maintain in their Bank of America deposit accounts and/or Merrill investment accounts, the company said.

      An increase in points

      Last month, Bank of America launched a new Premium Rewards Elite credit card offering a range of lifestyle and travel benefits designed to reward clients and complement cardholder spending habits. 

      The base reward at launch was two points for every $1 spent on travel and dining. Cardholders can now earn 3.5 points per $1 spent on travel and dining purchases and 2.62 points per $1 spent on all other purchases when enrolled in the bank’s Preferred Rewards at the Platinum Honors, Diamond, or Diamond Honors tiers.

      “The outstanding travel and lifestyle perks of Premium Rewards Elite make it an exciting addition to our suite of award-winning credit cards," said Jason Gaughan, credit card executive at Bank of America. "We're proud to offer this new card designed to further reward and enhance the client experience."

      In the near future, Gaughan said Bank of America will launch Partner Rewards, a loyalty program available to its credit and debit cardholders that he says will provide greater flexibility in how clients redeem exclusive partner offers and rewards.

      Once enrolled, cardholders can select the card that will be associated with the rewards program. It will also give cardholders more choices when it comes to how they receive rewards.

      While the credit card market seems to get a new rewards card every month or so, Bank of America is beefing up the perks across its portfolio of credit card...

      Buy now, pay later purchases to begin showing on Equifax credit reports

      But that’s helpful only if consumers make on-time payments

      Credit bureau Equifax has announced that it will begin including buy now, pay later (BNPL) payment information in its credit reports, a move that it says will expand credit for consumers.

      The company said it acted after its research of anonymized consumer data from a BNPL provider showed that people who pay their BNPL loans on time could potentially increase their FICO Score – helping consumers to both build and rebuild credit.

      "Equifax will be the first credit reporting agency to formalize a standard process for reporting BNPL tradelines for inclusion on traditional consumer credit reports," said Mark Luber, a top executive at Equifax. "We are committed to helping people live their financial best, and recognize the role that BNPL services can play in helping people build stronger financial profiles."

      BNPL, also known as point-of-sale financing, is an increasingly popular way for consumers to access alternative financing options for online or in-store purchases. They typically involve short-term, interest-free installment payments offered at checkout.

      Possible downside

      Including these transactions on Equifax credit reports could have a downside if consumers who use BNPL financing don’t make payments on time. And there’s evidence that happens a lot.

      A recent study by Credit Karma found that 44% of respondents had used BNPL services to make a purchase. Of those who have used BNPL services, 34% have fallen behind on one or more payments.

      Younger consumers may be more likely to miss payments. According to the study, more than half of Gen Z and millennial respondents who have used BNPL services say they have missed at least one payment, compared to 22% of Gen X respondents and just 10% of baby boomers.

      ‘New version of old layaway plan’

      With the increased use of BNPL services, regulators are concerned that consumers are taking on unmanageable debt. The Consumer Financial Protection Bureau (CFPB) has launched an investigation into how these programs affect consumers’ finances. In particular, the consumer watchdog wants to learn how payment providers use customer data.

      “Buy now, pay later is the new version of the old layaway plan, but with modern, faster twists where the consumer gets the product immediately but gets the debt immediately, too,” said CFPB Director Rohit Chopra.

      The CFPB stated that it has asked Affirm, Afterpay, Klarna, PayPal, and Zip to provide information so that the agency can report to the public about industry practices and risks. Typically, a BNPL service allows a customer to defer payment in full for a purchased item. The consumer usually pays 25% upfront and then pays 75% over two two-week intervals.

      CFPB regulators say the ease of installment buying may encourage consumers to spend more money than they would otherwise.

      Credit bureau Equifax has announced that it will begin including buy now, pay later (BNPL) payment information in its credit reports, a move that it says w...

      Metals found in cannabis may hurt consumers' health, study finds

      Experts say these toxic metals are especially harmful to cancer patients

      While many consumers have started using cannabis to support their physical and mental health, a new study conducted by researchers from Penn State explored some of the risks associated with the substance. 

      According to their findings, cannabis absorbs many toxic heavy metals. When ingested, these metals may pose a risk to consumers’ long-term health. 

      “Heavy metals, such as lead, mercury, cadmium, and chromium, are known to be carcinogenic,” said researcher Louis Bengyella. “The heavy-metal content of cannabis is not regulated; therefore, consumers could unknowingly be exposed to these toxic metals. This is bad news for anyone who uses cannabis but is particularly problematic for cancer patients who use medical marijuana to treat the nausea and pain associated with their treatments.” 

      Dangers of ingesting heavy metals

      For the study, the researchers analyzed earlier studies that evaluated how cannabis is impacted by heavy metals. This included how heavy metals can impact consumers’ health, how agricultural trends can impact how much metal the cannabis plant absorbs, and the ways that cannabis is used in phytoremediation (the use of plants to remove pollutants from the air or soil). 

      From a consumer health standpoint, the researchers learned that heavy metals can damage important compounds in the body when they are ingested, including proteins, lipids, and enzymes. The team says this ultimately increases the chances of developing serious long-term diseases like cancer. 

      “Cannabis consumed in combustive form represents the greatest danger to human health, as analysis of heavy metals in the smoke of cannabis revealed the presence of selenium, mercury, cadmium, lead, chromium, nickel, and arsenic,” said Bengyella. “It is disturbing to realize that the cannabis products being used by consumers, especially cancer patients, may be causing unnecessary harm to their bodies.” 

      Changing the growing processes

      To ensure that consumers are only reaping the benefits of using cannabis and avoiding potential health risks, the researchers explained that growers can make healthier and more sustainable choices. 

      In addition to choosing land areas that haven’t been exposed to these dangerous metals, the team also recommends choosing different types of cannabis plants that aren’t as likely to absorb harmful chemicals. 

      “The problem is at the level of the consumer who uses cannabis products, but the solution must come at the agricultural level,” said Bengyella. “We believe that is where we should hammer hard and solve the problem.” 

      While many consumers have started using cannabis to support their physical and mental health, a new study conducted by researchers from Penn State explored...

      Decreasing vehicle emissions will reduce deaths tied to air pollution, study finds

      Developing stronger emissions policies can benefit consumers’ long-term health

      As more research highlights the health risks associated with air pollution, a new study identified how efforts to lower vehicle emissions can be of great benefit to consumers’ health. 

      Researchers from Harvard’s T.H. Chan School of Public Health found that long-standing policies that work to decrease vehicle emissions may help reduce deaths that are related to air pollution. 

      “Recent reductions in vehicle emissions have yielded major health benefits, even though only small progress has been made on reducing their climate impact,” said researcher Ernani Choma. “Our results indicate that to achieve further public health and climate gains, even more stringent policies will be required.”  

      Lowering emissions can save lives

      For the study, the researchers assessed national vehicle emissions from 2008 through 2017. They compared emissions levels with mortality rates while noting the types of cars being driven and demographic information. 

      The researchers learned that deaths linked to air pollution-related vehicle emissions decreased over the course of the study. The number of related deaths in 2008 was 27,700; by 2017, that number dropped to 19,800. The team believes the decline was a result of efforts geared towards lowering vehicle emissions. They theorized that deaths in 2017 could have been as high as 48,200 if these emissions policies had never been put in place. 

      Despite the progress being made across the study period, certain types of vehicles are still contributing to harmful levels of emissions. The study showed that passenger light-duty vehicles were linked to 30% more deaths related to pollution and vehicle emissions, and they were responsible for two-thirds of all health complications related to air pollution. 

      Moving forward, the researchers hope tighter policies continue to be mandated across the country that prioritize lower vehicle emissions. 

      “If the trends of increased population density with an aging population, and a shift to larger passenger vehicles continue, emissions, especially in urban areas, will continue to become more harmful and it will be harder to achieve further public health gains by small incremental improvements in new vehicles,” said researcher John Spengler. “Our study findings strengthen the case for policies at the municipal level that encourage electric vehicles while discouraging conventional gasoline vehicles and for making our cities more accessible for non-motorized transportation such as biking or walking.” 

      As more research highlights the health risks associated with air pollution, a new study identified how efforts to lower vehicle emissions can be of great b...

      Meta says 50,000 users may have been stalked by private surveillance companies

      The perpetrators have been banished from Facebook, Instagram, WhatsApp, and Messenger

      Meta has encountered its first major headache under its new moniker. The company formerly known as Facebook has notified 50,000 global users of Facebook, WhatsApp, Instagram, and Messenger that they may have been targeted by private surveillance companies. 

      Meta said those seven firms carried out a mix of “reconnaissance, engagement, and exploitation,” but they have now been completely barred from the company’s platforms.

      Collecting information and compromising accounts

      In a blog post describing the issue, Meta said the global “surveillance-for-hire” companies targeted people to collect intelligence and compromise their devices and accounts – not only on Meta’s platforms but across the whole internet in more than 100 countries.

      “While these ‘cyber mercenaries’ often claim that their services only target criminals and terrorists, our months-long investigation concluded that targeting is in fact indiscriminate and includes journalists, dissidents, critics of authoritarian regimes, families of opposition and human rights activists,” explained Meta officials David Agranovich and Mike Dvilyanski.

      Agranovich and Dvilyanski said Meta is trying to prevent this from happening again by sharing its findings with security researchers, other platforms, and policymakers. The company also issued cease and desist warnings to the companies involved and alerted people who may have been targeted to help them strengthen the security of their various Meta-connected accounts.

      What actual good could come out of this

      Despite the immediate concern, Meta said in its threat report that there’s actually some good that can come out of this situation. The company is requesting that governments and tech companies come together to work on three key components:

      Greater transparency and oversight: Meta sees a need for more international oversight that establishes transparency and “know your customer” standards. These standards would cover social platforms and surveillance-for-hire entities so that they are held accountable.

      Industry collaboration: Surveillance efforts show up differently depending on individual platforms, but Meta stated that industry-wide collaboration is critical if Big Tech wants to fully understand and stop adversarial surveillance efforts before they spin out of control.

      Governance and ethics: While Facebook’s history is covered with faux pas that put the company’s trustworthiness in question at congressional hearings, Meta says it now welcomes domestic and international efforts to raise accountability through legislation, export controls, and regulatory actions. 

      “We also encourage broader conversations about the ethics of using these surveillance technologies by law enforcement and private companies, as well as creating effective victim protection regimes,” Agranovich and Dvilyanski said.

      Meta has encountered its first major headache under its new moniker. The company formerly known as Facebook has notified 50,000 global users of Facebook, W...

      JPMorgan fined $200 million for avoiding SEC scrutiny

      Regulators said the company didn’t keep proper records

      The Securities and Exchange Commission (SEC) has fined JPMorgan Securities $125 million for “widespread failures” by company employees who didn’t meet the agency’s standards for keeping records on written communications.

      JPMorgan admitted that for nearly three years – between January 2018, through November 2020, and possibly longer – both managers and employees used personal devices to send text messages, WhatsApp messages, and emails about sensitive company business.

      Another regulator, the Commodity Futures Trading Commission, tacked on an additional $75 million fine.

      SEC says companies must keep proper records

      When the SEC was created in the aftermath of the Wall Street Crash of 1929, it established recordkeeping and books-and-records obligations. Since companies have largely adopted digital methods of keeping records, the SEC says it’s even more important that registrants ensure that their communications are still buttoned up.

      “Unfortunately, in the past we’ve seen violations in the financial markets that were committed using unofficial communications channels, such as the foreign exchange scandal of 2013,” SEC Chair Gary Gensler said in the announcement.

      “Books-and-records obligations help the SEC conduct its important examinations and enforcement work. They build trust in our system. Ultimately, everybody should play by the same rules, and today’s charges signal that we will continue to hold market participants accountable for violating our time-tested recordkeeping requirements.”

      Other companies put on notice

      Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, sent out a warning shot to other securities firms that may have also become lax in their recordkeeping.

      “Recordkeeping requirements are core to the Commission’s enforcement and examination programs and when firms fail to comply with them, as JPMorgan did, they directly undermine our ability to protect investors and preserve market integrity,” he said.

      “We encourage registrants to not only scrutinize their document preservation processes and self-report failures such as those outlined in today’s action before we identify them, but to also consider the types of policies and procedures JPMorgan implemented to redress its failures in this case.”

      The Securities and Exchange Commission (SEC) has fined JPMorgan Securities $125 million for “widespread failures” by company employees who didn’t meet the...

      Judge throws out Perdue Pharma opioid settlement

      A court agreed with state officials who said the agreement was too lenient

      A U.S. District Court judge in New York has voided a $4.5 billion opioid settlement with Perdue Pharma, handing victory to plaintiffs who contend that the settlement is too lenient.

      Judge Colleen McMahon’s ruling, however, is technical in nature. She found that the settlement’s provision that shielded members of the Sackler family – major Perdue shareholders – is not allowed under U.S. bankruptcy law.

      The settlement proposed by Perdue earlier this year increased its payout to states affected by the opioid crisis from $3 billion to more than $4 billion. Massachusetts Attorney General Maura Healey, representing one of the plaintiff states, was initially unimpressed with the new offer. She said she and several other state attorneys general planned to keep fighting, and it was their court challenge that overturned the settlement.

      Several other attorneys general who signed onto the lawsuit concurred, saying they want the Sacklers to pay more of their personal funds in any settlement. "This plan does not go as far as it needs to," said North Carolina Attorney General Josh Stein in response to the proposed settlement.

      Protected family members from damage claims

      Specifically, the proposed settlement provided members of the Sackler with releases against civil lawsuits over the company’s marketing of opioid painkillers. If approved, the settlement would have barred states that did not accept the settlement from further legal action.

      Perdue Pharma entered Chapter 11 bankruptcy in 2019 and pursued a settlement as a way to emerge from bankruptcy. When it entered Chapter 11 status, it proposed a plan that it said would produce $10 billion to $12 billion to reimburse municipalities for the money they’ve spent to deal with the opioid crisis.

      The latest ruling means the Perdue Pharma saga isn’t over yet. Judge McMahon told the Wall Street Journal that her ruling probably isn’t the last word on the subject since the company is likely to appeal.

      “It must be put to rest sometime; at least in this Circuit, it should be put to rest now,” she said.

      A U.S. District Court judge in New York has voided a $4.5 billion opioid settlement with Perdue Pharma, handing victory to plaintiffs who contend that the...

      Experts say sesame needs to be more clearly labeled on many food products

      Doing so would lower the chances of consumers having a severe allergic reaction

      Nutritional and ingredient information on food packaging can often be misleading, and experts say it could be putting consumers’ lives in danger. 

      Researchers from the American College of Allergy, Asthma, and Immunology recently conducted a study that focused on the labeling of sesame in various products. They said direct food labeling is needed to help reduce the incidence of severe allergic reactions. 

      “Sesame is the ninth most common childhood food allergy in the U.S., yet many people don’t recognize it on food labels, or it’s missing entirely,” said researcher Dr. Katie Kennedy. “What we discovered in our study was that amongst those who reported events related to accidental ingestion of sesame, many reported they didn’t know that words such as ‘tahini’ meant sesame. Because the word ‘sesame’ is often not used on labels, accidents happen at a greater rate.” 

      Food labels impact health outcomes

      For the study, the researchers analyzed nearly 400 self-reported sesame-related allergic reactions. Participants answered questions about their experiences with sesame allergies, including the typical treatments, outcomes, and issues they encounter with food labels. 

      Overall, nearly 70% of all the allergic reactions resulted in anaphylaxis – a severe and potentially life-threatening type of reaction. More than 36% of participants needed epinephrine, while nearly 50% needed to be hospitalized. 

      The researchers found that incorrect or misleading food labeling was the source of the reaction in nearly 70% of cases. Participants reported that a word other than “sesame” was on the label 46% of the time. 

      “Some of the reports were due to products declared as containing ‘spices’ or ‘natural flavors’ and required consumers to call the company or manufacturer to clarify the ingredients,” Dr. Kennedy said. 

      Based on these findings, the researchers are calling for food labels to be properly identified when they contain sesame. Doing so can help reduce the frequency of consumers experiencing anaphylaxis and ultimately improve overall health outcomes. 

      Nutritional and ingredient information on food packaging can often be misleading, and experts say it could be putting consumers’ lives in danger. Resea...

      Abuse during childhood increases risk of suicide in adolescence, study finds

      Traumatic experiences can have lasting impacts on kids’ brains and development

      A new study conducted by researchers from the University of Barcelona explored how experiences during childhood may impact adolescents’ mental health. According to their findings, children have a higher risk of committing suicide by the time they reach adolescence when they experience mistreatment or abuse.

      “Adolescence is a period of high emotional vulnerability and 70% mental disorders are estimated to come up during this time,” said researcher Lourdes Fañanás. “The brain of an adolescent undergoes a process of maturation and this process might involve difficulties in self-control and a higher impulsivity and emotional instability, which are decisive elements for developing some risky behaviors. 

      “It’s also a period full of changes (family dynamics, new groups with classmates, new challenges and activities, etc.) that can involve an increase of stressful situations for young people.”  

      Childhood can have a lasting impact on mental health

      The researchers analyzed personality traits, life stressors, experiences with child abuse, and suicidal behaviors in nearly 200 kids between the ages of seven and 17 who took part in the study.

      Ultimately, the team identified a link between childhood experiences and long-term mental health. Children who were mistreated from a young age were at a higher risk of developing suicidal behaviors during their teenage years. The team believes this relationship may exist as a result of a lack of emotional regulation.

      “When there is a relational trauma during childhood – for instance, psychological, physical or sexual abuse, or negligence – three primary developmental capacities can be altered: emotional regulation, identity, and interpersonal relatedness,” explained researcher Laia Marques-Feixa. “If one reaches adolescence without having consolidated good bases in these skills, this person can have more difficulties due to the lack of solid psychological resources to deal with challenges, conflicts, and daily difficulties that come up over the course of our life.” 

      Addressing emotions and suicide prevention

      The researchers hope these findings emphasize the importance of suicide prevention resources and how focusing on addressing emotional regulation can be beneficial for children and teens in abusive, stressful homes. While strategies are required to ensure that children grow up in safe homes, it’s also important to support children as they grow and evolve during these difficult times. 

      “Our research shows that, in order to reduce suicidal behaviors in adolescents, we need to work on the regulation strategies of emotions, as well as to reduce the potential exposure to new stressful events (changing homes, fights, suspension from school, etc.), especially regarding those people with records of child abuse,” Laia Marques-Feixa said. 

      A new study conducted by researchers from the University of Barcelona explored how experiences during childhood may impact adolescents’ mental health. Acco...

      Gas prices continue to drift lower

      But holiday travelers will still encounter higher than normal prices at the pump

      After jumping to the highest level in seven years over the summer and fall, gasoline prices are starting to come down. But they are still high enough to cause pain at the gas pump.

      In its daily survey of gasoline prices, AAA reports that the national average price of regular gas is $3.31 a gallon. That’s two cents higher than last Friday and 10 cents a gallon lower than a month ago. The average price of premium gas is also down two cents a gallon from last week, at $3.95. The average price of diesel fuel is $3.59 a gallon, a penny less than a week ago.

      AAA reports that gasoline demand is rising and that fuel supplies went down over the last seven days. That would usually result in higher gasoline prices, but oil prices, the biggest factor in gasoline prices, continue to fall.

      Around the nation, fuel prices were fairly stable this week. The statewide average price was down four cents a gallon in Arizona and Utah, and down three cents a gallon in Arkansas. Even if prices continue to fall at the same rate, holiday travelers will face the highest Christmastime gas prices in years.

      States with the most expensive gas

      These states currently have the highest prices for regular gas, according to AAA:

      • California ($4.67)   

      • Hawaii ($4.34)  

      • Nevada ($3.87)   

      • Washington ($3.86) 

      • Oregon ($3.77) 

      • Arizona ($3.72)     

      • Alaska ($3.71) 

      • Idaho ($3.62)

      • Utah ($3.56)     

      • Pennsylvania ($3.55)

      States with the cheapest gas

      AAA reports that these states currently have the lowest prices for regular gas:

      • Texas ($2.90)  

      • Oklahoma ($2.91)  

      • Arkansas ($2.93)  

      • Missouri ($2.96)  

      • Mississippi ($2.97)

      •  Kentucky ($2.98)

      •  Kansas ($2.99)

      •  Wisconsin ($3.00)

      •  South Carolina ($3.01)  

      • Tennessee ($3.02)

      After jumping to the highest level in seven years over the summer and fall, gasoline prices are starting to come down. But they are still high enough to ca...

      Apple to give workers $1,000 bonuses and delay return to offices

      The company is playing things safe as COVID-19 variants continue to spread

      Apple is handing out $1,000 holiday bonuses to its employees and announced that it will delay its full office reopening.

      A letter that CEO Tim Cook sent to staff on Wednesday, which was obtained by The Verge, stated that the official date for returning to work is “yet to be determined.” Cook also took the opportunity in his letter to encourage Apple workers to get the COVID-19 vaccine and booster shots.

      “Our offices remain open and many of our colleagues are coming in regularly, including our teams in Greater China and elsewhere,” Cook wrote. “As we look forward to more of our teams being together again, we will continue to make decisions based on local conditions and will be sure to notify you at least four weeks before beginning the pilot.”

      Rising cases and variants cause concern

      The original plan was for Apple employees to return to work on February 1, 2022, but the rising number of coronavirus cases and the spread of the new Omicron variant caused concern. Apple closed three of its retail stores this week in response to growing COVID-19 infections and began requiring customers to mask up when they visit an Apple store. 

      In his letter, Cook said that every Apple employee – including retail staffers – would be getting $1,000 in their next paycheck – minus tax and withholding. 

      “These funds are intended to help you with your home workspace and can be used as you see fit,” Cook wrote. “Keep in mind that when you return to the office, you’ll be bringing your Apple-owned equipment back, so you should consider what you’ll want for your home workspace.”

      Apple is handing out $1,000 holiday bonuses to its employees and announced that it will delay its full office reopening.A letter that CEO Tim Cook sent...

      Car shortage leads to big dip in new car deals in December

      Consumers who need to buy a vehicle will want to be flexible to get the best price

      Remember when the December airwaves were filled with commercials for new cars with big red bows on top as automakers urged you to buy your husband or wife a new set of wheels? You’re not seeing that this year.

      The shortage of new cars continues, and, if anything, it’s worse at the end of the year than it was back in the summer. That means there will be almost no end-of-the-year deals on new cars.

      “The automakers have figured out it’s not smart to spend money marketing cars that aren’t available on dealers’ lots,” Karl Brauer, executive analyst at iseecars.com told ConsumerAffairs. “The term I’m using now is ‘least-bad deal,’ there are no good deals in today’s car market.”

      What to do

      Brauer’s advice to car shoppers is to put off a purchase for a few months, if possible. He predicts that the computer chip shortage that has slashed auto production will continue for another 6-12 months. He says those who must buy a car or truck in the immediate future should be prepared to pay a premium because the average new car is selling for 11.1% over the sticker price. 

      Brauer says you’ll get closest to sticker price by visiting your Acura dealer. The MDX is averaging 2.6% above MSRP, and the average RDX is selling for 3.1% over sticker. Acura also appears to have the most attractive December incentives, including a $1,500 loyalty incentive for existing Acura customers with a 2011 or newer Acura vehicle.

      Consumers might also save some money by widening their search. Instead of just visiting your local dealers, try to include searches within 100 to 200 miles. 

      “That way you can greatly expand your options to buy a vehicle from a lot of different dealers,” Brauer said. “If you end up spending six hours in the car making that trip but you save $1,200 you’ve earned $200 an hour.”

      Flexibility on vehicle selection might also save money since some vehicles are in higher demand than others. Buying from a dealer with a larger selection of a particular model may make it easier to get a price that is closer to the sticker price.

      “People should consider how flexible they can be, not only on the model they want but how far they are willing to travel to get it because flexibility is your friend in a market like this,” Brauer said.

      Remember when the December airwaves were filled with commercials for new cars with big red bows on top as automakers urged you to buy your husband or wife...