Current Events in April 2022

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2022

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    Mercedes-Benz recalls various model year 2007-2014 vehicles

    Incorrect software may cause system failures

    Mercedes-Benz USA (MBUSA) is recalling 22 model year 2010 E350s, model year 2014 G550s, model year 2008-2009 C300s, model year 2008 C350s, model year 2009 CLK550s, model year 2007 SL550s & SLK280s, and model year 2008 SLK350 vehicles.

    Various control units may have been updated with an incorrect software configuration during a service repair. This can result in various system failures, such as loss of drive power, reduced exterior lighting, or loss of dynamic control functions, including stability and traction control.

    Such system failures can increase the risk of a crash.

    What to do

    Dealers will update the software configuration on the affected control units free of charge.

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

    Owners may contact MBUSA customer service at (800) 367-6372.

    Mercedes-Benz USA (MBUSA) is recalling 22 model year 2010 E350s, model year 2014 G550s, model year 2008-2009 C300s, model year 2008 C350s, model year 2009...

    Coronavirus update: Schools unlikely to bring back masks

    China’s recent outbreak will likely continue to affect U.S. consumers

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

    firmed‌ ‌cases:‌ 80,269,527 (80,251,517)

    Total‌ ‌U.S.‌ ‌deaths:‌ 984,573 (983,869)

    Total‌ ‌global‌ ‌cases:‌ 496,455,668 (495,296,881)

    Total ‌global‌ ‌deaths:‌ 6,171,601 (6,167,708)‌

    Few schools consider return of mask mandates

    Cases of COVID-19 are increasing in some parts of the country, but schools in those areas have shown no signs of reimposing mask mandates. The Wall Street Journal reports that school officials are counting on vaccinations and less severe variants to keep students and teachers safe.

    Dan Domenech, executive director of the American Association of School Administrators, told the Journal that risks are perceived as relatively low. But another factor is that school boards don’t want to face angry parents.

    “Over the last couple of years, school boards and superintendents have gotten beaten up to the point that they’re damned if they do and they’re damned if they don’t,” Mr. Domenech said. “They’re afraid to change course.”

    China lockdown affects more consumer products

    China has extended and increased its lockdown of Shanghai, and economists say the country will likely curb the production of more consumer goods that are popular in the U.S. In particular, automobiles and parts have been adversely affected.

    Tesla shut down its Shanghai plant at the end of March and has yet to set a date for reopening it. Volkswagen said two of its plants in China remain closed.

    Electronics manufacturers are also being affected. The Wall Street Journal reports that the amount of exports moving through the port of Shanghai has been reduced to about 40% of pre-lockdown levels.

    Mayo Clinic offers advice for treating ‘long COVID’

    Some people who recover from COVID-19 find that some symptoms continue for weeks, even months – a condition known as “long COVID.” After extensive research, specialists at the Mayo Clinic are now offering advice that they say will lead to a speedier recovery.

    The advice includes staying hydrated and eating healthy food, getting plenty of sleep, performing light resistance exercise instead of cardio activities, and giving yourself plenty of time to recover.

    “The fastest way to recover is to take things slow and easy at first, then try to gradually increase your activities,” said Dr. Greg Vanichkachorn, director of Mayo Clinic's COVID Activity Rehabilitation Program.

    Around the nation

    • Utah: Most metrics show that the coronavirus is declining across the state. The virus is decreasing in Vernal, Tooele, and Lehi, and state health officials say levels have remained steady along the Wasatch Front and Wasatch Back. COVID-19 ER visits declined this week.

    • New Mexico: The New Mexico Department of Health at midweek reported 18 additional COVID-19-related deaths and 126 new COVID-19 cases. The numbers are in line with recent trends in the state. There are currently 63 patients hospitalized in New Mexico with COVID-19.

    • Pennsylvania: Despite fears that the Omicron subvariant would cause a spike in U.S. infections, state health officials say that hasn’t happened so far in Pennsylvania. The latest data shows that the number of people hospitalized for COVID-19 in Pennsylvania plunged by 67% during March.

    • Oregon: Attorney General Ellen Rosenblum has filed a lawsuit against the Center for Covid Control (CCC) and its testing partner, Doctors Clinical Laboratory (DCL), over claims that the pair deceptively marketed testing services and violated Oregon’s Unlawful Trade Practices Act. The lawsuit alleges that the CCC and DCL produced questionable test results.

    • Georgia: Sen. Raphael Warnock (D-Ga.) says he took a COVID-19 test on Thursday and tested positive for the virus. “I’m so thankful to be both vaccinated & boosted, and at the advice of the Attending Physician I plan to isolate," Warnock posted on Twitter. "If you haven’t gotten your shot yet, I encourage you to do so."

    COVID-19 ‌tally‌ ‌as‌ ‌‌compiled‌‌ ‌by‌ ‌Johns‌ ‌Hopkins‌ ‌University.‌ ‌(Previous‌ ‌numbers‌ ‌in‌ ‌parentheses.)‌firmed‌ ‌cases:‌ 80,269,527 (80,251,5...

    Satisfaction with banks is souring, survey shows

    Some consumers say banks haven’t kept up with changing consumer needs

    Bank customers are generally less satisfied with their financial institutions than in the past, according to the latest J.D. Power survey.

    The survey found that most banks are missing the mark when it comes to making their customers feel supported, and the researchers are pointing to two potential causes. They say consumers are now feeling more financial stress in the form of inflation and are seeking personalized services that most banks have yet to provide.

    “A customer’s definition of what support from their retail bank looks like is changing rapidly as we enter a new economic cycle and move further along the digital adoption curve,” said Jennifer White, senior consultant of banking intelligence at J.D. Power.

    White says bank customers are looking for more. It’s no longer good enough to be fast, efficient, and convenient.

    “The preeminent performance metric with the biggest influence on customer satisfaction is ‘supporting customers during challenging times,’ and that means customers are expecting a personalized mix of financial advice, hands-on help with problem resolution and guidance on how to grow their money,” she said.

    However, the survey found that satisfaction increases substantially when a bank does provide this kind of support to its customers. Still, the findings show that only 44% of banks currently meet this challenge.

    What ConsumerAffairs reviewers say

    When we looked at how consumers posting reviews at ConsumerAffairs rate the major national banks, we found a fairly close ranking. On on 5-star system, here are the average ratings for six major banks:

    • Capital One: 3.9 stars

    • Bank of America: 3.5 stars

    • Wells Fargo: 3.5 stars

    • Truist: 3.5 stars

    • Citi: 3.3 stars

    • Chase: 3.3 stars

    Capital One may have distinguished itself by providing the kind of technological engagement the J.D. Power survey says consumers want. Bill, of Santa Barbara, Calif., told us he is impressed with the features available on Capital One’s Quicksilver credit card that helps him keep his balance low.

    “Their app lets you link bank accounts so you can pay electronically,” Bill wrote in a ConsumerAffairs review. “The cash back is very simple, there is no programming necessary. Cash rewards come up by itself. I use mine for a statement credit altho they can be applied to Amazon purchases or gift card.”

    When our reviewers cite negative experiences with their banks, it often revolves around customer service -- something that the J.D. Power survey respondents also highlighted as a weakness. The data firm found that customer satisfaction scores “are lowest for helping retail bank customers save time or money, which has become a key priority for them.”

    Consumers can get more insight on banks and read thousands of verified reviews in ConsumerAffairs’ guide covering the Best Banks and Credit Unions.

    Bank customers are generally less satisfied with their financial institutions than in the past, according to the latest J.D. Power survey.The survey fo...

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      Egg prices spike as bird flu continues to wipe out U.S. commercial chicken flocks

      Cage-free eggs are still available at favorable price points

      If your grocery list includes eggs, be ready to pay more. Officials report that egg prices were rising quickly due to inflation and shipping costs, but they've gotten even more expensive due to the country’s worst outbreak of bird flu (H5N1) in nearly 10 years.

      FoodMarket.com reports that retail prices for large eggs average $3.14 a dozen, up from $2.77 a dozen last year. Extra-large eggs are featured at $4.16 a dozen on average, 64% above a year ago. Data from the U.S. Department of Agriculture (USDA) shows a further breakdown of prices by region. 

      How bad is the bird flu this time around? Overall, NPR reports that more than 22 million birds have died from the disease, including millions of chickens and turkeys in barns and backyards that had been raised to provide eggs or meat.

      In Iowa, the leading U.S. state when it comes to egg production, more than 5 million birds died at an egg-laying facility in Osceola in a single day, according to the USDA. Overall, it’s estimated that more than 13 million birds have been culled from flocks in the state.

      It should be noted that the H5N1 bird flu poses relatively little risk to humans. The Centers for Disease Control and Prevention (CDC) says the risk is "low;" however, some who have job-related or recreational exposures to birds are at a higher risk of infection

      Cage-free eggs instead?

      If grocery shoppers think they can hedge their bets by buying cage-free eggs instead, they just might be right. The USDA says grocers are starting to shift their promotional focus to cage-free offerings because they currently have a better competitive price point and better margins than commercial eggs.

      The agency said the average ad price for cage-free eggs declined by $0.39 to $2.47 per dozen. It also said the average ad price spread between 12-packs of Large caged eggs and cage-free eggs narrowed by $0.27 per dozen, bringing it to a spread of $1.00 per dozen.

      “As wholesale prices for caged eggs remain strong, retailers are shifting their attention to promoting cage-free types with a more competitive price point,” the agency said in its overview of the situation.

      If your grocery list includes eggs, be ready to pay more. Officials report that egg prices were rising quickly due to inflation and shipping costs, but the...

      FTC to issue $102 million in refunds to consumers duped by fake government websites

      The window to process the refund request will close in July

      The Federal Trade Commission (FTC) has come away from U.S. District Court with a sizable victory – and payoff – for consumers.

      In a lawsuit against On Point Global, the agency was able to secure $102 million in refunds for consumers who were caught in a “wide-ranging scheme” that steered them to pay money or hand over personal information to fake government websites.

      The FTC accused On Point of falsely offering consumers a quick and easy way to get through all the red tape involved in government agency processes, like renewing a driver’s license or applying for other services. To lead consumers into believing the sites were legitimate, the company purchased domain names such as DMV.com and floridadriverslicense.org.

      As a direct result of the FTC’s trial win, a federal court called for a refund process to be established for consumers who were harmed by On Point Global and its network of fake websites. Consumers who feel they were ensnared by the company’s scheme can apply for compensation as a result of the lawsuit, but they need to do so by July 5, 2022.

      ConsumerAffairs reached out to On Point Global about the lawsuit, but the company did not immediately respond to a request for comment.

      How people can get part of the $102 million refund

      In order for a consumer to receive a refund, they have to submit a claim by July 5, 2022, and certify that one of the following events took place: 

      • They paid money to an On Point Global fake DMV site between January 2017, and December 2019, and have yet to get their money back.

      • They submitted their personal information to an On Point Global government benefits site in 2019.

      If consumers can prove either of those requirements, they are eligible for a payment and should receive an email by mid-April with instructions from the company tasked with handling the claims process. The FTC says confirmations will be sent to the email address the person originally used on the bogus site. They will come from noreply@onpointclaimform.com or from an FTC.gov email address.

      Consumers who believe they are eligible for reimbursement but haven’t received an email yet should visit this site and enter their name and email address. At that point, they should get an immediate email response with a personalized claim link and instructions.

      If there are questions about the refund that the applicant needs help with, there is additional information available for affected consumers on two websites. For those impacted by the fake DMV offer, go here. Consumers who submitted personal information to fake government benefits sites can visit this site for more information.

      The Federal Trade Commission (FTC) has come away from U.S. District Court with a sizable victory – and payoff – for consumers.In a lawsuit against On P...

      Gas prices headed lower again this week following record highs

      Planned oil releases from U.S. and allies’ stockpiles dampened oil prices

      The price of gasoline is still well above $4 a gallon in most places, but prices began to moderate this week as the U.S. and its allies moved to release oil reserves into the market. The price of crude oil dropped accordingly.

      The AAA daily fuel price survey shows that the national average price of regular gas is $4.14 a gallon, seven cents a gallon lower than last Friday. But it’s still nine cents a gallon higher than four weeks ago.

      The average price of premium gas is $4.82 a gallon, six cents lower than a week ago. The price of diesel fuel is $5.06 a gallon, down four cents from last week.

      Some of the biggest drops in fuel prices this week occurred in the Midwest. The statewide average for regular fell 11 cents a gallon in Michigan and Ohio, and prices were 10 cents a gallon cheaper in Wisconsin.

      The average price this week also fell by 10 cents a gallon in Georgia; nine cents a gallon in California and Nevada; seven cents a gallon in Illinois, New York, Kansas, and Oklahoma; and six cents a gallon in Arizona and Missouri.

      It remains to be seen how much lower prices will fall in the short term. The summer driving season begins next month, and refineries are in the process of switching over to more expensive summer fuel blends.

      States with the most expensive gas

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

      • California ($5.80)  

      • Hawaii ($5.23)     

      • Nevada ($5.14)   

      • Alaska ($4.72)

      • Washington ($4.69)

      • Oregon ($4.67)   

      • Arizona ($4.62)   

      • Illinois ($4.39)     

      • Idaho ($4.41)   

      • New York ($4.26)  

      States with the cheapest gas

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

      • Missouri ($3.70)  

      • Kansas ($3.72)  

      • Arkansas ($3.74)

      • Oklahoma ($3.73)  

      • Maryland ($3.76)     

      • Nebraska ($3.82)

      • Iowa ($3.84)  

      • South Carolina ($3.81)

      • Wisconsin ($3.81)

      • Georgia ($3.81)

      The price of gasoline is still well above $4 a gallon in most places, but prices began to moderate this week as the U.S. and its allies moved to release oi...

      Home medical treatment is more effective for patients who struggle with mental illness

      Focusing on the patient’s needs with specialized care can yield better outcomes

      A new study conducted by researchers from UCLA explored some of the best ways for those struggling with a mental illness to receive the best kind of care. 

      The researchers explained that these patients have the best outcome when they're able to consistently receive their primary medical care from home. For those struggling with serious mental illness, like schizophrenia or bipolar disorder, this method of treatment is more effective than utilizing emergency medical services. 

      “Just as few psychiatrists are trained in primary care or can provide these services, the same is true for primary care physicians and we need to be able to better coordinate care for these vulnerable patients,” said researcher Dr. Alex Young. “Our team’s study shows that a patient-centered medical home can be effective and should be considered for improving the health care of patients with serious mental illnesses.” 

      Finding the right treatment plan

      For the study, the researchers put various care plans to the test for over 330 patients in the U.S. Veterans Health Administration for 401 days. One group served as an intervention group, with patients receiving specialized care from both psychiatric and primary care professionals in one location. The group of health care providers communicated with each other to best serve the patients’ needs throughout the course of the study. Patients in the second group were treated as usual, with psychiatric care and primary care being handled separately. 

      The researchers analyzed medical records and patient surveys about their experiences both before and after the experiment. Ultimately, they learned that delivering care at a patient's home was more effective from both a physical health and mental health perspective. 

      In terms of psychiatric treatment, the intervention group experienced improvements in their goal-setting, counseling, and decision-making. They also had better relationships with their mental health professionals, better access to care, and overall improved mental health-related quality of life. From a physical health standpoint, providing primary medical care at home led to improved glucose levels, body mass indices, and lipid levels. 

      The researchers hope these findings highlight the benefits associated with providing primary care at home to those who struggle with mental illness.

      “While people with serious mental illness are some of the most challenging and expensive patients to treat, it is possible to help seriously mentally ill individuals be healthy and productive, while minimizing their need to use hospital and emergency departments,” Dr. Young said. “We found this care model to be effective in improving treatment appropriateness and patient outcomes. And while this model certainly needs further study, it should be considered to improve care for people with serious mental illness.” 

      A new study conducted by researchers from UCLA explored some of the best ways for those struggling with a mental illness to receive the best kind of care....

      Participating in meaningful activities may help consumers feel less lonely

      Experts say taking on challenges can improve well-being

      A new study conducted by researchers from Penn State explored how consumers can work through feelings of loneliness. According to their findings, engaging in meaningful activities during down time may help reduce feelings of loneliness and boost overall well-being

      “There is a well-known saying: ‘Time flies when you are having fun,’” said researcher John Dattilo. “The unspoken corollary is that time drags when you are bored. Our research shows that both of these ideas are true. By engaging in meaningful activities during free time that demand focus, people can reduce loneliness and increase momentary happiness.” 

      Staying mentally active

      For the study, the researchers surveyed over 330 international students at a private university in Taiwan. The students answered questions about how emotionally supported they felt during periods of downtime and their general feelings of loneliness. 

      The researchers learned that one of the best ways to overcome loneliness is to regularly participate in activities that are mentally stimulating and meaningful. When students were using their skills and were particularly focused, they weren’t as likely to feel lonely. 

      “When people become engrossed in what they are doing, they enter a state that is called ‘flow,’” Dattilo said. “Flow can be achieved by engaging in mental or physical activities that we value and that require us to concentrate fully to use our skills.” 

      The researchers explained that "flow" may be achieved by doing different things for different people. Participating in the activity should require concentration, but it can be something artistic, like playing the piano, or something more active, like skiing. However, the team warns against doing something that’s too daunting, as this could have the opposite effect. 

      It’s also important to note that many consumers tend to gravitate towards familiar activities, like watching TV. Though there’s nothing wrong with this, the researchers explained that the long-term lack of stimulation may not help consumers feel less lonely.  

      “Learning which activities might enable someone to enter a state of flow requires asking questions and listening,” Dattilo said. “People tend to thrive on healthy engagement and challenge. My collaborators and I hope that this research will help people live fuller, happier, healthier lives.” 

      A new study conducted by researchers from Penn State explored how consumers can work through feelings of loneliness. According to their findings, engaging...

      Ferrero recalls Kinder Happy Moments Chocolate Assortment and Chocolate Treats basket

      The products may be contaminated with salmonella

      Ferrero U.S.A. of Parsippany, N.J., is recalling its Kinder Happy Moments Chocolate Assortment and Kinder Mix Chocolate Treats basket.

      The products may be contaminated with Salmonella Typhimurium.

      While there are no reports of illness in the U.S. to date, cases of salmonella in consumers have been reported in Europe.

      A list of the two products being recalled in the U.S. may be found here.

      What to do

      Customers who purchased the recalled products should not consume them.

      Consumers with questions may contact Ferrero online or by phone at (800) 688-3552 Monday through Friday from 9 a.m. to 6 p.m. (EST).

      Ferrero U.S.A. of Parsippany, N.J., is recalling its Kinder Happy Moments Chocolate Assortment and Kinder Mix Chocolate Treats basket.The products may...

      Mercedes-Benz recalls EQS 450s, EQS 580s, S500s, and S580s

      The rear turn signals, hazard lights, and reverse lights may not work

      Mercedes-Benz USA (MBUSA) is recalling 9,156 model year 2022 EQS 450s, EQS 580s, and model year 2021 S500s and S580s.

      A software error may disable the rear turn signals, hazard lights, and reverse lights.

      Disabled rear turn signals, hazard lights, and reverse lights can reduce the vehicle's visibility to other drivers, increasing the risk of a crash.

      What to do

      Dealers will update the rear signal software free of charge.

      Owner notification letters are expected to be mailed on May 13, 2022.

      Owners may contact MBUSA customer service at (800) 367-6372.

      Mercedes-Benz USA (MBUSA) is recalling 9,156 model year 2022 EQS 450s, EQS 580s, and model year 2021 S500s and S580s.A software error may disable the r...

      Farm Fresh Produce recalls TWA Agriculture Mixed Mushrooms

      The product may be contaminated with Listeria monocytogenes

      Farm Fresh Produce of Vernon, Calif., is recalling all of its 14.11-oz. packages of TWA Agriculture Mixed Mushrooms.

      The product may be contaminated with Listeria monocytogenes. No illnesses have been reported to date.

      The recalled product, which comes in a 14.11-oz. clear plastic package marked with UPC 6957937481850, was sold in retail stores nationwide.

      What to do

      Customers who purchased the recalled product should not consume it. Instead, they should return it to the place of purchase for a full refund.

      Consumers with questions may contact the company at (323) 583-1128 Monday through Friday from 6:00 a.m. to 1:30 p.m.

      Farm Fresh Produce of Vernon, Calif., is recalling all of its 14.11-oz. packages of TWA Agriculture Mixed Mushrooms.The product may be contaminated wit...

      Coronavirus update: Study sheds new light on severe infections

      Pandemic-related job losses are at a record low

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

      Total‌ ‌U.S.‌ ‌confirmed‌ ‌cases:‌ 80,251,517 (80,219,035)

      Total‌ ‌U.S.‌ ‌deaths:‌ 983,869 (983,229)

      Total‌ ‌global‌ ‌cases:‌ 495,296,881 (494,264,883)

      Total ‌global‌ ‌deaths:‌ 6,167,708 (6,164,408)‌

      COVID-19 triggers massive inflammation in some, study finds

      Some people who test positive for COVID-19 have no symptoms at all. Others end up in hospitals on ventilators and are forced to fight for their lives. Scientists are now only beginning to understand why.

      While compromised immune systems and underlying conditions play a role, a new study traces how immune responses in some patients overreact and cause severe damage to the lungs. The researchers found that the virus can infect certain kinds of immune cells called monocytes and macrophages, which are key elements of the immune system.

      In some patients, the virus is not destroyed by the immune system and escapes into other cells, where they wreak havoc. Not only that, the researchers say the escaped virus starts replicating, damaging other cells and organs.

      Fewer people are getting laid off

      The labor market damage caused by the COVID-19 pandemic appears to be over. The Labor Department reports that initial claims for unemployment benefits last week totaled 166,000.

      That’s 5,000 fewer than the previous week’s revised total and is the lowest since the start of the pandemic. At one point early in the economic shutdown caused by the virus, jobless claims totaled more than 1 million.

      The jobless claims numbers have been trending lower since the start of the year. The Labor Department’s four-week moving average of new benefit claims fell to 170,000, a decrease of 8,000 from the previous week's revised average. 

      Some state economies dealt with pandemic better than others

      The COVID-19 pandemic dealt a hammer blow to the U.S. economy, but a new report suggests that some states were able to handle it a lot better than others. The report from TopAgency.com found that Vermont’s economy performed best.

      Vermont was ranked number one in both consumer confidence and health safety and number three in job market strength. New England is well-represented on the list, with New Hampshire, Massachusetts, Iowa, and Wisconsin rounding out the top five.

      Michigan ranked at the bottom, scoring 42nd in consumer confidence and 29th in health safety. It scored the worst of any of the ranked states in job market strength.

      Around the nation

      • Texas: Texas’ chief state epidemiologist says about 99% of the state’s population has developed at least some immune response to COVID-19. That finding comes as hospitalizations dropped below 1,000 this week for the first time during the pandemic. "Less than a thousand is a good place to be and this is what we've kind of been waiting for and watching really closely," said Dr. Jennifer Shuford.

      • Nebraska: Noting that on-campus cases of COVID-19 have fallen sharply, the University of Nebraska has announced the end of its random testing program. In the last two weeks, the program turned up 34 cases for a positivity rate of only 1.36% in the last seven days.

      • Connecticut: Even with cases of the coronavirus in retreat, state officials are not letting up on their campaign to increase vaccinations. In his weekly update, Gov. Ned Lamont reported that 47% of the 117 people being treated for COVID-19 in Connecticut hospitals are not fully vaccinated.

      • Tennessee: Clinical trials have yet to provide convincing evidence that the antiviral drug ivermectin is effective at preventing or treating COVID-19, but the drug has its enthusiasts. The state legislature is considering a GOP-backed measure to make ivermectin available without a prescription in Tennessee.

      • Maine: With severe cases of COVID-19 in decline across the U.S., the once scarce supplies of the treatment drugs Paxlovid and Molnupiravir are now plentiful. They are so plentiful that health officials in Maine say the drugs are being underused. “Initially we had to be very selective about who got it,” Erich Fogg, the clinical director of York Hospital’s walk-in services, told the Bangor Daily News. “For 10 people who requested it, maybe only two got treated. Now we’ve relaxed and are able to prescribe it more.”

      COVID-19 ‌tally‌ ‌as‌ ‌‌compiled‌‌ ‌by‌ ‌Johns‌ ‌Hopkins‌ ‌University.‌ ‌(Previous‌ ‌numbers‌ ‌in‌ ‌parentheses.)‌Total‌ ‌U.S.‌ ‌confirmed‌ ‌cases:‌ 80...

      Gas price blame game in full swing in Washington

      Democrats and Republicans are pointing fingers at each other

      With mid-term elections just months away and gasoline prices still near record highs, Republicans and Democrats are blaming one another for consumers’ pain at the pump.

      The conflict was on full display at Wednesday’s House hearing on gas prices, where top U.S. oil company executives were called to testify. 

      Democrats accused the oil companies of ripping off consumers by raising the price of oil. Democrats on the Energy and Commerce Subcommittee on Oversight and Investigations posed pointed questions to the CEOs of Exxon Mobil, Chevron, Pioneer, and Shell

      “It’s often stated that oil is a global commodity and its price is determined by the global marketplace. We don’t dispute that,” said subcommittee Chair Diana DeGette (D-Colo.). “But the price of oil, alone, is not what’s alarming most of us on this panel. It’s the price at the pump.”

      No control over the market price

      The chief executives immediately defended their pricing practices by pointing out that current market conditions are leading to higher costs.

      “We do not control the market price of crude oil or natural gas, nor of refined products like gasoline and diesel fuel, and we have no tolerance for price gouging,” Chevron CEO Michael Wirth told the lawmakers.

      In fact, oil prices are mostly set by the oil futures market. And while other factors go into the price of gasoline, the price of oil does in fact make up a significant part of it.

      Republicans on the committee pointed fingers at Democrats, accusing them of discouraging exploration and production of oil in favor of renewable forms of energy. In particular, Rep. Morgan Griffith (R-Va.) blamed President Biden directly.

      “Rather than deflect blame, President Biden should consider his own culpability for higher energy prices,” Griffith said.

      Oil expert weighs in

      Patrick DeHaan, head of petroleum analysis at GasBuddy, says he found the hearing hard to watch.

      “They [the lawmakers] may have a political science degree, but many seem to lack any substantive understanding of economics,” DeHaan posted on Twitter.

      So what’s the real reason for the spike in oil prices? DeHaan says a lot of it is simply due to the economic dislocation caused by the COVID-19 pandemic.

      “The primary reason prices remain elevated are the effects of COVID shutting down the economy for 2020 and stifling oil demand, leading oil companies to make long term cuts,” DeHaan told ConsumerAffairs.

      At one point early in the pandemic, when people were no longer commuting to work, there was so much excess oil that oil companies ran out of storage room and paid their customers to take it off their hands.

      “But demand came roaring back in 2021, quickly absorbing the excess and then leading to a worsening imbalance between supply and demand since then,” DeHaan said. “This year, the imbalance has been made worse by Russia's war on Ukraine amidst a new urgency to cut Russia's oil supply off, leading to even less oil supply as the global economy continues to recover.”

      Oil prices have also been volatile because of international tension and uncertainty, causing markets that set the price of refined products to shy away from lowering prices too quickly. Even so, prices at the pump are beginning to fall.

      AAA reports that the national average price of regular gas is $4.15 a gallon, down seven cents a gallon in the last seven days. However, it’s only 16 cents a gallon lower than its record high of $4.33 a gallon.

      With mid-term elections just months away and gasoline prices still near record highs, Republicans and Democrats are blaming one another for consumers’ pain...

      Payday borrowers should take advantage of extended payment plans, CFPB says

      There may be assistance available for consumers who can’t pay off their payday loans

      If you’re someone who takes advantage of payday loans, then you should double-check to make sure you're taking advantage of the payment plans that are offered by lenders.

      In particular, the Consumer Financial Protection Bureau (CFPB) says payday loan borrowers should take better advantage of extended payment plans. The agency says those who don't could be paying more in rollover fees.

      “Our research suggests that state laws that require payday lenders to offer no-cost extended repayment plans are not working as intended,” said CFPB Director Rohit Chopra in announcing the agency’s recent findings. “Payday lenders have a powerful incentive to protect their revenue by steering borrowers into costly re-borrowing.”

      What payday borrowers need to know up front

      Out of the 26 states where payday lending is allowed, 16 states require payday lenders to offer no-cost extended payment plans – a scenario in which a borrower can repay just the principal and fees already incurred and split the remaining balance over several months. A borrower’s other, costlier option if they do not repay their loan on time is to rollover their loan. When the borrower chooses that route, their loan is renewed for another pay-period and the borrower is charged an additional payday loan fee.

      The CFPB thinks consumers should know that the upsides of a no-cost extended payment plan can be substantial. As an example, the agency says a borrower would pay $45 in rollover fees every two weeks until they pay off the principal and fees on a typical $300 loan. That means a borrower would have paid $360 in rollover fees after four months while still owing the original $300. 

      However, if the same borrower chose a no-cost extended payment plan when the first rollover was triggered, they would only have to pay $345 over an extended period. In a previous study, CFPB researchers found that most payday loans were made to borrowers who use the rollover option so many times that the accrued fees were greater than the original principal.

      Ask questions

      When taking out a payday loan, there are several things a borrower should check. One of them is the lender’s disclosures. As they say, the devil is in the details, and the legalese in those disclosures may reveal some points that the lender may not offer when asking the borrower to sign on the dotted line. 

      One thing that should be in the disclosure is the borrower’s right to choose an extended payment plan when they're signing off on the loan. The CFPB says the contract language should spell out details of an extended payment plan, such as the right to repay the loan in several installments and that there will be no additional fees charged for an extended payment plan.

      Other things to look for in a contract include details on "usage rates," whether or not the borrower is required to enroll in credit counseling to be eligible for an extended payment plan, and information on how many times a consumer can use an extended payment plan. As an example, Utah law restricts a consumer to one extended payment plan per 12-month period.

      Can’t pay off your payday loan?

      If worse comes to worst and borrowers can’t make good on their payday loan or are not given the option of an extended payment plan, the CFPB says there are some things they should do.

      For example, you may wish to speak with a credit counselor in your area or contact a legal aid attorney to discuss your options. If you are a service member, contact your local Judge Advocate General’s (JAG) office to learn more. You can also use the JAG Legal Assistance Office locator to find help or ask your installation financial readiness office for information.

      For more information about payday loan companies, ConsumerAffairs has created a guide that is available here

      If you’re someone who takes advantage of payday loans, then you should double-check to make sure you're taking advantage of the payment plans that are offe...

      Walmart hikes wages for truckers to as much as $110,000 a year

      The supply chain continues to be shaky, and the availability of truckers is limited

      To make sure its supply chain keeps up with the rest of its business, Walmart is raising wages for its in-house truck drivers. In an announcement, Walmart announced that it's raising its starting salaries for truck drivers to a range between $95,000 and $110,000 a year – up from the current first-year average salary of $87,000.  

      Truckers are in high demand, and the industry as a whole is facing a very tight labor market. To ensure that segment stays healthy for the long haul, Walmart is expanding a program to train workers to become drivers. 

      For employees who decide to take advantage of that program, all that's required is a 12-week course commitment to become fully certified. After that, those drivers will also have the potential to make up to $110,000 in their first year with the company. And that’s just to start. Walmart said drivers who have been with the company longer can earn even more, depending on factors like tenure and location.

      Walmart has been doing a lot of hiring recently, but compared to its other job roles, it says its trucking gigs are “destination jobs.”

      “The investments in pay and training build on multiple recent driver bonuses and improved schedules that enable drivers to spend more time at home,” the company claims. “There’s never been a better time to join our fleet. Once drivers are on board, this is a job many leave only for retirement.”

      Other companies also likely to raise pay

      The carrots that Walmart is dangling are certainly enticing. Compared to the $48,978 average salary a long-haul trucker makes per year, Walmart’s offer is nearly twice as high. However, the company might not be the only one trying to romance drivers to join its ranks.

      “To attract and retain drivers, fleets must increase pay, which is now happening at extraordinary levels,” said the American Trucking Association (ATA). “We’re witnessing unprecedented pay increases across the industry, with weekly driver earnings surging at a rate more than 5x their historical average—up more than 25% for long-haul, truckload drivers since the beginning of 2019.”

      The ATA said trucking fleets are also offering substantial, five-figure sign-on bonuses and full benefits to compete for the same limited pool of drivers.

      To make sure its supply chain keeps up with the rest of its business, Walmart is raising wages for its in-house truck drivers. In an announcement, Walmart...

      Postmenopausal diets may be detrimental to oral health, study finds

      Experts say carbs and sugary foods may increase the risk of a gum infection

      A new study conducted by researchers from the University at Buffalo explored how consumers’ diet choices may affect their oral health

      According to their findings, eating larger quantities of carbs and sugary foods was linked with a higher risk of periodontal disease among postmenoapusal women

      “Limited research exists on carbohydrate intake and oral microbiome diversity and composition assessed with next-generation sequencing,” the researchers wrote. “We aimed to better understand the association between habitual carbohydrate intake and the oral microbiome, as the oral microbiome has been associated with caries, periodontal disease, and systemic diseases.” 

      How diet affects oral health

      For the study, the researchers analyzed data from over 1,200 postmenopausal women enrolled in the Women’s Health Initiative. Participants completed food questionnaires, which tracked the frequency with which they were eating carbs, starch, monosaccharides, disaccharides, and fiber. The team then tested plaque from underneath the gums to understand if the women’s diet choices affected their risk for gum infections. 

      “We examined these bacteria in relation to usual carbohydrate consumption in postmenopausal women across a wide variety of carbohydrate types: total carbohydrate intake, fiber intake, disaccharide intake, to simple sugar intake,” said researcher Amy Millen, Ph.D.

      Ultimately, the researchers observed a clear link between diet and oral health. They found that sugar intake was specifically linked with an increase in the Leptotrichia spp. bacteria, which may increase the risk for gingivitis. 

      The team also learned that greater consumption of carbs and sucrose was associated with a higher risk of Streptococcus mutans. This bacteria may increase the risk of tooth decay and cardiovascular disease. 

      Moving forward, the team plans to do more work in this area to better understand how these oral health risks may affect full body health. 

      “As more studies are conducted looking at the oral microbiome using similar sequencing techniques and progression or development of periodontal disease over time, we might begin to make better inferences about how diet relates to the oral microbiome and periodontal disease,” Dr. Millen said. 

      A new study conducted by researchers from the University at Buffalo explored how consumers’ diet choices may affect their oral health. According to the...

      Rising home prices cause more people to consider a 40-year mortgage

      Monthly payments are lower but experts say there are some real drawbacks

      Mortgage rates are marching toward 5%, and home prices are at a record high. Should you consider a 40-year mortgage?

      While a 30-year mortgage seems like a long time, a 40-year loan seems like an eternity. But financing the loan over an extra 10 years will bring down the monthly payment, which is getting so high that it is squeezing hundreds of thousands of people out of the housing market.

      The principal and interest on a 30-year fixed-rate mortgage of $300,000 at 4.8% is $1,574. That same loan financed for 40 years at that same fixed rate lowers the payment to $1,407.

      Benefits and drawbacks of longer loans

      Before you sign on the dotted line, consider the downside. Kristina Morales, a Realtor in Cleveland, Ohio, said lower monthly payments come at a cost.

      “The obvious downside is how much more a borrower pays in interest compared to a 30-year fixed mortgage loan,” Morales told ConsumerAffairs. “The longer the loan, the more the borrower pays in interest. I have seen mortgage simulations where a borrower using a 40-year mortgage would pay in interest alone almost what they paid for the home – in essence, almost doubling the cost of the home.”

      Of course, that assumes the homeowner pays the mortgage for the full 40 years. The average for owning one particular home is about eight years. But even in a short-term situation, homeowners will pay more in interest on the first payment than they would on the same loan financed for 30 years.

      “If you get a $300,000 30-year mortgage at a 5% interest rate, you'll pay about $24,500 in principal in the first five years, and pay almost $280,000 in interest in 30 years,” Holden Lewis, home and market insights expert at NerdWallet told us. “With the same amount and interest rate on a 40-year loan, you'll pay about $13,400 in principal in the first five years, and more than $394,000 in interest over 40 years.”

      A 40-year loan makes sense for some people

      That said, a 40-year fixed-rate mortgage might be preferable to an adjustable-rate mortgage (ARM), especially at a time of volatile interest rates. For all its faults, both Morales and Lewis said they would recommend the longer fix-rate loan over an ARM.

      “As I talk with my lender partners about ARMs, they are saying that there is not a huge discount in the rate like we would historically see,” Morales said.

      For someone struggling to qualify for a mortgage, Morales said it might make the most sense to take out a 40-year loan. As the borrower begins to earn more money, they could apply some of that extra cash to pay down the principal each month, which would lower interest costs.

      Mortgage rates are marching toward 5%, and home prices are at a record high. Should you consider a 40-year mortgage?While a 30-year mortgage seems like...