Current Events in August 2022

While vigilance with cybersecurity is always of the utmost importance for consumers, experts are now urging Apple users to update their devices to run the latest version of the operating systems. This includes iPhone model 6S and later, iPod touch 7th generation, iPad Air 2 and later, iPad 5th generation and later, all of the iPad Pros, and the iPad mini 4 and later. 

The company released security updates for the devices last week after discovering that they may be susceptible to two different security flaws that could be abused by hackers. One vulnerability was to the kernel, which is the hub of Apple’s operating systems, and the other was to WebKit, which works to run several apps, including Safari. 

The biggest risk is a hacker fully invading the device. Security experts explained that because these security flaws are based in the operating systems of the devices, it makes it easy for hackers to access users’ personal data. Additionally, because there are two vulnerabilities, it makes it easier for hackers to bypass different security measures and get into a device. 

Though many Apple devices are set to update automatically, the updates aren’t always completed immediately, and may not begin until a device is plugged in. This makes it all the more important for consumers to check for software updates and manually update their devices to the latest operating software as soon as possible. 

Another Mac security flaw

This news comes on the heels of another recent story about vulnerabilities many Mac users were facing with the Zoom app. 

Patrick Wardle, founder of the nonprofit organization Objective-See, discovered a flaw in Zoom’s automatic update tool that could allow hackers to infiltrate Mac computers. He explained that when this tool runs an update, it looks for a signing certificate – or a unique digital verification code – that matches Zoom. 

Since automatic updates do not require a password to be installed, hackers could create packages that mimic Zoom’s signing certificate to install malicious files or programs onto users’ Macs. This could allow them to completely take over the device to delete files, steal passwords, or alter documents. 

Similar to this most recent notice to update Apple devices, Mac users specifically were encouraged to update Zoom to its most recent version to protect themselves from hackers.

When the COVID-19 pandemic introduced widespread remote work, people took advantage of that to find larger and more affordable homes, often in other states. Now that rising mortgage rates have made many housing markets even less affordable, evidence suggests that Americans are on the move once again.

Kristina Morales, Realtor at eXp Realty in New York, said she saw people migrating to more affordable markets early in the pandemic, and she doesn’t think that’s going to end anytime soon.

“I actually think with rising interest rates and inflation, we may see this increase,” Morales told ConsumerAffairs. “As long as people are able to continue to work remotely, this gives them flexibility on where they live. Areas with more affordable housing markets will certainly attract these people.”

The 10 most affordable large cities

Employees who are able to work from just about everywhere would do well to consider less expensive cities where home prices remain well below the national median. The ConsumerAffairs Research Team has crunched Census Bureau numbers on America’s most affordable cities with a population of at least 500,000. We identified the most expensive housing markets as well as the least expensive.

We ranked major U.S. cities based exclusively on how much residents spend each month on their housing, whether they own or rent their homes, arriving at a monthly “median housing cost.” 

We arrived at that number based on multiyear census estimates covering monthly housing costs for residents—spending on mortgages, rent, real estate taxes, property insurance, utilities, and other recurring housing expenses.

Here are the top 10 most affordable big cities:

1. Detroit

2. El Paso

3. Memphis

4. Milwaukee

5. Tuscon

6. Louisville

7. Indianapolis

8. Oklahoma City

9. Albuquerque

10. San Antonio

Detroit

Population: 672,351 

Median housing cost: $734

Median home value: $52,700

Median rent: $850

Once a major industrial center, Detroit is now part of the Rust Belt. However, the city has spent the last few years redefining itself. National Geographic recently reported that “Detroit is Cool Again.” It attributes the city’s rebound to energetic leadership, both among elected officials and citizens.

Detroit native Dan Gilbert, who founded Quicken Loans, moved his company to Detroit. He bought dozens of properties for rehab, fueled dozens of start-ups, and employs more than 12,000 people.

The city offers several neighborhoods with homes priced below the national median. For sports fans, Detroit has Major League Baseball, NFL, and NBA franchises.

El Paso

Population: 679,879

Median housing cost: $877

Median home value: $132,800

Median rent: $857

El Paso, Texas, which is located on the U.S./Mexico border, is America’s 23rd largest city, but it ranks second in affordability. The City of El Paso’s emphasis on the formation of neighborhood associations has resulted in strong communities and active citizens.

Jobs are plentiful, especially in energy production and health care. El Paso is home to Marathon Petroleum and the Medical Center of the Americas, the only medical research and care provider in West Texas. 

The University of Texas at El Paso has an enrollment of more than 23,000 and offers 169 bachelor’s, master’s, and doctoral programs in 10 colleges and schools. 

Memphis

Population: 650,910

Median housing cost: $913

Median home value: $107,100

Median rent: $915

Memphis’ status as an affordable housing market is underscored by one statistic: Realtor.com reports that the Tennessee city on the Mississippi River is the nation’s number one housing market, where first-time buyers are competing with investors for the best homes.

Besides affordable housing, Memphis boasts a strengthening job market. It’s the home of Fed Ex, Auto Zone, and International Paper. It’s ranked number one in the nation by Bloomberg for job creation when compared to the average area employment rate over the past 10 years.

Culturally, Beale Street celebrates the blues, while Elvis Presley’s Graceland draws rock music fans from around the world. In fact, music is an important force in a city considered by many to be the birthplace of rock and roll.

Milwaukee

Population: 592,649

Median housing cost: $906

Median home value: $128,300

Median rent: $866

Milwaukee’s affordable housing market has drawn lots of interest since the COVID-19 pandemic. Despite strong sales activity, the market still remains within reach for many people who have been priced out of larger, more expensive cities. However, buyers may face more competition here than in the other markets on our list.

Milwaukee is the largest city in Wisconsin and sits on the western shore of Lake Michigan. It’s less than a two-hour drive from Chicago, where homes go for a lot more. The city’s health care facilities include two major hospitals –St. Luke’s Medical Center and the Wisconsin Heart Hospital – as well as Ronald McDonald House.

Milwaukee entered 2022 with a robust job market. According to the Metropolitan Milwaukee Association of Commerce (MMAC), the manufacturing sector is particularly strong and has increased the number of jobs to well above pre-pandemic levels.

Tucson

Population: 545,340

Median housing cost: $890

Median home value: $165,900

Median rent: $861

Tucson is ranked by Realtor.com as one of the nation’s hottest housing markets, but it has been able to retain its affordability. It’s Arizona’s second-largest city behind Phoenix, which is one of the nation’s more expensive places to live. Tucson has attracted remote workers from all over the country with a near-perfect climate and high quality of life.

The city boasts a strong economy that has a diverse blend of private and public business sectors, including education, aerospace, biotech, defense, information technology, and international trade. Tucson is home to the University of Arizona, which is ranked among the top 20 public research universities nationwide.

While homes in the Tucson metro are affordable now, buyers should prepare for some stiff competition. According to the Tucson Business Journal, bidding wars in 2022 have increased faster than in Pheonix, where rising mortgage rates have slowed sales. People considering a move to Tucson shouldn’t wait too long, as market conditions could change quickly.

Louisville

Population: 618,733

Median housing cost: $929

Median home value: $165,400

Median rent: $878

Louisville is the largest city in Kentucky and sits along the Ohio River. It’s connected to Cincinnati via I-71 and to Nashville and Indianapolis by I-65. It includes aspects of both the South and Midwest and offers plenty of Southern charm. Home to the Kentucky Derby, it exudes a graceful way of life and a very affordable housing market. In fact, WalletHub recently named it one of the top cities for renters.

Jobs are plentiful at major employers like Papa John’s Pizza, UPS, KFC, Louisville Slugger, and Brown Forman distillery. Ford Motor Company operates a large assembly plant in the city.

Pandemic buying pushed home prices higher, but there are still plenty of affordable homes. Homes sell quickly, but Redfin reports that Louisville home sales are recently down nearly 6%, offering an opportunity for buyers.

Indianapolis

Population: 869,387

Median housing cost: $939

Median home value: $145,200

Median rent: $911

Although Indianapolis is on our list of affordable housing markets, prices in the capital of Indiana are rising. Redfin reports that prices were up nearly 14% in June. That said, its median home value is the lowest of any city on our list.

To find the cities with the best deals, it sometimes pays to follow the investors. HousingWire has reported that Indianapolis has drawn the most attention from out-of-state investors, who are scooping up single-family homes and converting them to rental properties.

Indianapolis has a strong job market and is home to a number of major health care employers, including pharmaceutical manufacturer Eli Lilly, Anthem, and Community Health Network. On the industrial side, it's also home to Cummins.

Oklahoma City

Population: 649,821

Median housing cost: $937

Median home value: $161,800

Median rent: $884

Oklahoma City is yet another housing market that’s attracting attention from investors. For that reason alone, it might be enough for a first-time buyer to check it out. Other reasons include the strong economy and job market.

The energy industry is a major player, with OGE Energy, Love’s Travel Stops, Chesapeake Energy, and Sandridge Energy based there. In addition, Baker Hughes has a strong presence. But the economy is not a one-trick pony, as Oklahoma City is home to a diverse assortment of enterprises in aviation and aerospace, bioscience, and financial services.

The Oklahoma City Museum of Art is a cornerstone of the city’s cultural landscape, while the Bricktown Entertainment District is a major part of its revitalized downtown area. 

Albuquerque

Population: 560,447

Median housing cost: $968

Median home value: $204,100

Median rent: $889

Albuquerque remains a very competitive housing market, but fortunately for buyers who are willing to move, home prices are considerably lower than in many other metropolitan areas. Albuquerque is the largest city in New Mexico and is the center of business and economic activity.

Albuquerque is another affordable city that offers plenty of jobs in health care. In recent years, it has also added high-tech manufacturing capacity. The state and federal governments are also major employers.

Now may be a good time to go house hunting in Albuquerque and its surrounding areas. KRQE-TV recently reported that the red-hot pace of home sales has slowed considerably. Local realtor Jesse Garcia told the station that the market is experiencing a slowdown, with a higher supply of homes on the market but less demand.

San Antonio

Population: 1,529,133

Median housing cost: $1,012

Median home value: $156,700

Median rent: $1,025

San Antonio is the only city on our list with a population of over 1 million, putting it in the top 10 U.S. metro areas. But despite its size, it is still affordable, with a median home value of $156,700. In fact, the National Association of Realtors (NAR) ranked San Antonio as one of the nation’s “hidden gems” when it comes to real estate.

The city is located in South Central Texas, about a one-hour drive from Austin and three hours from Houston. It’s home to the Alamo and was a Spanish colonial outpost dating back to 1718.

It offers a diverse economy with an especially strong job market. Industries include health care, the military, financial services, and energy. The city has won praise for its quality of life and rich Hispanic heritage. 

Opportunity for remote workers

Bob Bilbruck, CEO at Captjur, says these 10 housing markets, and others like them, will see more activity in the months ahead. He says it might be wise for people who can work remotely to consider a move.

“The migration to more fluid markets will keep happening as these areas are pro-growth and have less regulatory hurdles for people to build new homes or for builders to build new homes and sell to these people,” Bilbruck said.

Jeb Smith, a broker at Coldwell Banker Realty in Huntington Beach, Calif., says today’s real estate market is shifting back to more “normal” times, reducing the demand for homes and eliminating some of the competition. He says that can create opportunities for buyers, especially in America’s more affordable housing markets.

Earlier this week, the U.S. Department of Education (DOE) announced that it will be forgiving nearly $4 billion in student loan debt for students who had previously attended ITT Tech. Loan forgiveness is available to over 208,000 students who attended the for-profit university from January 2005, through September 2016. 

“It is time for student borrowers to stop shouldering the burden from ITT’s years of lies and false promises,” said Miguel Cardona, the U.S. Secretary of Education. “The evidence shows that for years, ITT’s leaders intentionally misled students about the quality of their programs in order to profit off federal student loan programs, with no regard for the hardship this would cause. 

While some former students may have already completed Borrower Defense Claims against ITT Tech to have their student debt forgiven, the DOE says this won’t be necessary to receive payment moving forward. No further action is required, and all eligible students will have their loans erased. 

Students have been defrauded for years

This isn’t the first time the DOE has issued a loan forgiveness statement to former ITT Tech students. After the institution closed its doors in 2016 due to being cut off from federal funding, those who had attended the school but never received a degree had their debt erased.

A lengthy investigation into the school revealed that students had been lied to about how their money was used, how much money they’d make after graduating, and how many of their credits would transfer to other schools. 

“ITT defrauded hundreds of thousands of students, as we identified when I was the director of the Consumer Financial Protection Bureau,” said Richard Cordray, the Federal Student Aid Chief at the time. “By delivering the loan relief students deserve, we are giving them the opportunity to resume their educational journey without the unfair burden of student debt they are carrying from a dishonest institution.” 

According to Cardona, the goal moving forward is to make students feel safe and secure when applying to schools and borrowing money. 

“The Biden-Harris Administration will continue to stand up for borrowers who’ve been cheated by their colleges, while working to strengthen oversight and enforcement to protect today’s students from similar deception and abuse,” he said. 

Student loan forgiveness deadline approaching

Federal student loans have been on pause since the beginning of the COVID-19 pandemic in March 2020. After more than two years, consumers only have to wait a few more weeks to learn President Biden’s latest decision regarding loan forgiveness.

The President is scheduled to make an announcement about federal loans on August 31, which has experts speculating about another loan pause or substantial loan forgiveness efforts. 

After reporting that it netted $3 billion in the second quarter, Lowe’s has decided to thank its hourly front-line associates with some of that profit – and in no small way, either.

"In recognition of some of the cost pressures they are facing due to high inflation, we are providing an incremental $55 million in bonuses to our hourly frontline associates this quarter," said Lowe's CEO Martin R. Ellison.

"These associates have the most important job in our company and we deeply appreciate everything they do to serve our customers to deliver a best-in-class experience."

These bonuses couldn’t come at a better time. With inflation continuing to sting Americans everywhere they turn -- from rent to car prices -- a little extra help in offsetting the current cost-of-living is a welcome gift. Lowe’s isn’t the only major company offering inflation-damping bonuses.

ExxonMobil, Microsoft, Walmart, T. Rowe Price, USAA, and others have also offered everything from gift cards to pay raises to help their workers make ends meet. 

Freddie Mac’s Primary Mortgage Market Survey (PMMS) contains some good news for people who would like to purchase a home in the months ahead. After peaking at over 6% earlier this year, the average 30-year fixed-rate mortgage (FRM) fell to 5.13% this week.

“Inflation appears to be beyond its peak, which has stopped the rapid increase in mortgage rates that the housing market was experiencing earlier this year,” said Sam Khater, Freddie Mac’s chief economist. “The market continues to absorb the cumulative impact of the large price and rate increases that led to a plunge in affordability. As a result, over the rest of the year purchase demand likely will continue to drag, supply will modestly increase, and home price growth will decelerate.”

According to the PMMS, the 30-year fixed-rate mortgage averaged 5.13%, down from last week when it averaged 5.22%. The average 15-year fixed-rate mortgage declined slightly to 4.55%.

The average 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.39%, down from 4.43% last week.

The slight decline in mortgage rates, coupled with last month’s sharp drop in the median home price, makes buying a home slightly more affordable. Still, when compared to a year ago, monthly payments are still quite high.

Last year at this time, the average 30-year fixed-rate mortgage carried an interest rate of just 2.86%. The principal and interest charge on a $300,000 mortgage was $1,242 per month. The same loan this week at 5.13% is $1,634 a month, nearly $400 more.

Opportunities ahead?

It’s clear that rising mortgage rates and record-high home prices slammed the brakes on the housing market. In the months ahead, real estate professionals say it may provide opportunities for people who have recently been priced out of the housing market. But Erik Wright, CEO at New Horizon Home Buyers in Chatanooga, Tenn., says not all markets are the same.

"The higher interest rates have decreased demand to a certain extent, but in markets where there is still a significant shortage of available housing compared to the demand, prices are still continuing to increase due to competition," Wright told ConsumerAffairs. "In other markets, where supply and demand are closer together, prices have stabilized and even decreased slightly."

For people considering a home purchase, Wright says the most important consideration is the affordability of the monthly payment based on the current interest rates. If Freddie Mac is correct and the current trend continues, those rates could be lower in the weeks ahead.

The housing market entered a recession in July. That's bad news for people who are planning to sell their homes, but it's some long-anticipated good news for would-be buyers. Sales of existing homes fell for a sixth straight month, declining by 5.9% from June. They're down more than 20% from July 2021.

The median sale price dropped by $10,000 in one month, declining to $403,800. In the previous five months of declining home sales, the median price kept rising to a record $413,800 in June.

"The ongoing sales decline reflects the impact of the mortgage rate peak of 6% in early June," said NAR Chief Economist Lawrence Yun. "Home sales may soon stabilize since mortgage rates have fallen to near 5%, thereby giving an additional boost of purchasing power to home buyers."

There was more good news for people who want to buy a home. Total housing inventory at the end of July was 1,310,000 units, an increase of 4.8% from June and unchanged from the previous year. That’s still historically low, but at least it’s moving toward a more balanced market. Unsold inventory sits at a 3.3-month supply at the current sales pace, up from 2.9 months in June and 2.6 months in July 2021.

Getting back to normal

Jeb Smith, a Coldwell Banker agent in Huntington Beach, Calif., says the housing market has been moving back to more normal inventory levels for the last couple of months.

“That means buyers are having to do less of the crazy stuff they were having to do during the pandemic to get their offer accepted,” Smith told ConsumerAffairs. “On top of the shift due to rates, we are now past the busiest point in real estate, the spring selling season, which means that demand should continue to decline due to the time of year giving homebuyers more opportunities with less competition and more homes to choose from as we transition through the rest of 2022.”

Despite the slowdown in sales and the drop in prices, the housing market appears to be remaining healthy for now. Distressed sales – foreclosures and short sales – represented approximately 1% of sales in July, which is essentially unchanged from June 2022, and July 2021.

People who were selling their homes had little difficulty doing so in July. Homes typically remained on the market for 14 days in July, the same as in June and down from 17 days in July 2021.  In fact, the 14 days on market are the fewest since NAR began tracking that stat in May 2011. 

Eighty-two percent of homes sold in July 2022 were on the market for less than a month.

Seat belts have been mandatory in vehicles in the U.S. since 1968, and they have saved hundreds of thousands of lives during that time. In fact, more than half of the nearly 24,000 people killed in traffic accidents in 2020 were not wearing seat belts.

However, if a seat belt is to protect you, it has to work properly.

That said, General Motors is recalling 484,155 model year 2021-2022 Cadillac Escalades & Escalade ESVs, Chevrolet Suburbans & Tahoes, and GMC Yukons & Yukon XLs with third-row seats.

The rivet that retains the buckle to the mounting bracket in the left or right side third-row seat belt buckle assembly may have been improperly formed.

Because a deformed rivet may not properly restrain an occupant, the risk of injury in a crash is higher.

What to do

Fortunately, the automaker has a fix. Dealers will inspect the rivet head formation on both the left and right side third-row seat belt buckle assemblies and replace seat belt buckle assemblies -- as necessary -- free of charge.

Owners will be notified by mail starting around September 26, 2022.

If you want further information, you may reach Chevrolet customer service at (800) 222-1020, Cadillac customer service at (800) 458-8006, and GMC customer service at (800) 462-8782.

GM's number for this recall is N222372380.

Despite a big drop in home sales that has partly been caused by a dramatic rise in mortgage rates, “second home” sales appear to be holding their own. According to Barron’s, second-home sales jumped 90% at the start of 2021 when compared to mid-2020.

Data compiled by HomeLight, a company matching homebuyers with real estate agents, shows that there has been a shift in who is buying second homes. According to the company’s summer 2022 survey, 64% of agents report that it’s people who don’t currently own a home who are buying what are typically thought of as “second homes.”

In other words, first-time buyers are buying their second home first. 

According to the agents in the survey, record-high home prices and rising mortgage rates are driving this trend. Some agents estimate that purchasing your “second” home as your first property in today’s market can help to save an estimated $76,000 on the cost of the property. In the Pacific region, the savings are even greater –  an estimated $177,000.

Clarissa Marshall, an agent with EXP Realty in Asheville, N.C., has noticed the trend in her market.

“A majority of the homes I’ve sold recently have been second homes, and are being purchased not by locals, but by people from all over the country,” Marshall told ConsumerAffairs. “Since the pandemic, these first-time homebuyers are able to work remotely, and are realizing they have the capability to live somewhere with more land, and for way less.”

Buying for the future

But Marshall says not all of those first-time buyers are moving in. She said she recently sold a home to a woman in her thirties who currently works and lives in Chicago. 

“She purchased a home in Asheville knowing one day she would relocate here, but for now, is continuing to rent and live in her apartment,” Marshall said.

Rose Ciardiello, an agent with William Raveis Realtors in the quaint coastal town of Guilford, Conn., has witnessed the same thing, with many first-time buyers from New York City, nearly a three-hour drive away, buying their “second home” first.

“It started off with renters not wanting to be cooped up in their apartments while there were various COVID restrictions, but now in the latter half of 2022, employees don’t need to be in their office five days a week, or really at all,” Ciardiello told us. “While these residents still have their apartments in the city, they actually are spending more time in their ‘second’ homes in Guilford.”

Branson a popular second home market

Brad Gore, a veteran agent in Branson, Missouri, has sold many vacation homes over the years. But lately, he has seen out-of-state buyers with a different purpose than in the past.

“What these people are doing is purchasing a home here in Branson, but continuing to rent their primary residences,” Gore said. “While they are not using these ‘second’ homes, they will rent them out to make additional income.”

Gore says some of the first-time buyers are trying to purchase properties in a growing, hot market before it explodes. They continue to rent their principal residence but want to be invested in real estate in a more affordable area.

HomeLight expects the trend to continue, especially as rising mortgage rates erode home affordability in markets like San Francisco, Las Vegas, Austin, and Phoenix.

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

Total‌ ‌U.S.‌ ‌confirmed‌ ‌cases:‌ 92,278,387 (94,147,210)

Total‌ ‌U.S.‌ ‌deaths:‌ 1,039,027 (1,038,002)

Total‌ ‌global‌ ‌cases:‌ 592,403,643 (593,438,867)

Total ‌global‌ ‌deaths:‌ 6,446,012 (6,441,888)‌

Updated booster shots could be available soon

People waiting to get a COVID-19 booster until the vaccine has been updated may not have much longer to wait. White House COVID-19 coordinator Dr. Ashish Jha says the updated boosters will be available to teens and adults "in a few short weeks."

"I believe it’s going to be available, and every American over the age of 12 will be eligible for it," Jha told NBC News.

The revised booster has been developed to target the Omicron subvariants BA.4 and BA.5, along with the original strain of the virus. Subvariants account for nearly 90% of new COVID-19 cases in the U.S., according to the Centers for Disease Control and Prevention (CDC).

CDC director says pandemic exposed shortcomings

The CDC has been criticized for its handling of the COVID-19 pandemic, and CDC Director Rochelle Walensky says some of the criticism is justified. On Wednesday, Walensky announced some changes to address what have been perceived as shortcomings.

Walensky says the agency will undergo some top to bottom changes that are designed to “transform” the organization and its work culture by improving how the agency shares information, develops public health guidance, and communicates with the American people.

“For 75 years, CDC and public health have been preparing for COVID-19, and in our big moment, our performance did not reliably meet expectations,” Walensky said. “As a long-time admirer of this agency and a champion for public health, I want us all to do better.”

The government is ending vaccine purchases

Since the start of the pandemic, the U.S. government has paid for COVID-19 vaccines. In the weeks ahead, vaccines will only be available in the commercial market.

Federal health officials say the U.S. government will stop buying vaccines and test kits and will no longer foot the bill for treatments by this fall.

In some cases, that trend has already started. Tests to detect the virus have been available at pharmacies for several months. Of the four approved vaccines, only two have received FDA approval to be sold commercially – Moderna and Pfizer/BioNTech.

Around the nation

• New York: New York City schools start up again in a few weeks, and education officials won’t be as strict as they were during the last school year. Starting next month, the Department of Education will require vaccinations for all employees, visitors, and students who play in high-risk extracurricular activities. Daily health screeners are not needed, but officials are strongly urging sick people to stay home.

• California: A study by the CDC found that 71% of all children in California have had COVID-19 since the outbreak of the virus in March 2020. Health experts expressed surprise at that rate. Schools remained closed for much of the pandemic in order to prevent childhood infections.

• Colorado: It’s not a clean bill of health, but officials say it’s close. For the first time in months, no Colorado counties are on the CDC’s highest level for community spread of the coronavirus. COVID-19 rates are continuing on a downward trend across the state.

• Massachusetts: State health and education officials say they will scale back COVID-19 restrictions with the start of the new year. While the virus is still spreading, it’s seen as less of a threat. Officials say they will focus efforts on protecting children who are at high risk for severe symptoms.

• Ohio: Ohio University has revised its mask policy for the upcoming fall semester. The new policy, which takes effect immediately, will continue to be based on CDC COVID-19 Community Levels. If there is a high transmission rate during the year, masks will be required during scheduled class and class-related activities in classrooms, laboratories, studios, clinical settings, other learning spaces, and the Child Development Center.

A new report from Snopes uncovered a survey scam that’s targeting Facebook users. According to their report, pages on Facebook under the names “Target Fans” and “Walmart Fans” were promising consumers free refrigerators and ovens after completing a survey. 

Upon closer inspection, it was revealed that Indonesia-based scammers were tempting Facebook users to complete the survey for free home appliances. The goal for hackers is to entice consumers with the promise of a reward that is never actually delivered. Users typically end up clicking through site after site looking for a prize that doesn’t exist, opening them up to potentially malicious ads or malware. 

For this particular scam, Facebook users were shown images of different types of ovens and refrigerators from both Target and Walmart. The scammers told users that the stores were trying to get rid of them due to minor damages and that random winners would be selected within the next few days. The scammers were urging consumers to comment “DONE” on the post to be in the running for one of the appliances.  

Steering clear of survey scams

While many organizations are conducting legitimate surveys to better serve consumers, this story highlights the risks associated with survey scams. These schemes only make things more confusing for consumers when they're presented with legitimate offers where they can win a prize.

Survey scams may occur via phone, email, text message, or ads on social media. In the case of this story, scammers may pose as well-known retailers or companies to draw consumers in with a sense of familiarity. Others may be telemarketers looking for more information. While these surveys may seem innocent enough and promise to leave consumers with a gift card or cash prize, the goal is to get information from survey takers. At their worst, these ploys can even lead to identity theft.

Some warning signs consumers should be aware of include misspellings in ads for surveys, surveys that require payment to complete, and a lack of information from the company on your privacy or how your information will be used. 

The Office of Minnesota Attorney General Keith Ellison urges consumers to stay vigilant and look out for any warning signs of a survey scam. One of their biggest tips is to avoid sharing any personal information over the phone, including your Social Security number, banking information, or passwords. 

Not only can sharing this information leave you susceptible to any number of future scams or unauthorized purchases, but no legitimate survey will ask you to provide this information. A quick Google search can often help consumers identify if certain companies are hosting surveys in exchange for gift cards or prizes; it can even quickly show consumers that the offer they're vetting is a scam. 

Heads up, Google Chrome users! A bug of the worst kind has been discovered lurking in Chrome, one that’s being exploited by hackers worldwide.

To address the issue, Google released a “Stable Channel Update for Desktop” earlier this week. Updating a user’s Chrome browser software with that fix will bring Chrome to version 104.0.5112.102/101 on Windows and version 104.0.5112.101 on Mac and Linux operating systems. 

This is the second major warning Google has had to send to Chrome users in the last four months.

Mashable reports that the update is designed to be automatically installed on a user’s Chrome browser, but if it hasn't, they can initiate the update by going to Chrome's "About" menu. The report notes that the issue being patched may be tied to stopping malicious websites from “executing arbitrary code on your machine, among other problems.”

The overdraft fee bonanza may be coming to an end for U.S. banks. When the Consumer Financial Protection Bureau (CFPB) raised its voice about fees earlier this year, the message was apparently heard loud and clear. On Thursday, Bank of America demonstrated proof of the agency’s action.

The company announced that it has made a sizable, customer-favoring shift for its 35 million consumer checking account holders. The bank said fees related to overdraft services declined by 90% in June and July when compared to the same period in 2021. June and July were the first two months after sweeping changes related to these services were implemented.

That comparison is hefty, too. According to ConsumerAffairs' research, Bank of America's overdraft fees accounted for 1% of its revenue in 2021. One percent may seem insignificant, but it comes out to close to $320 million. Now, for the second quarter of 2022, consumer client overdraft fees made up less than 0.4% of the company’s total revenue.

Things will likely get even better if we’re to take Bank of America at its word. In making its announcement, the company said new solutions and enhanced programs introduced over the last decade will reduce consumer overdraft fees by 97% from 2009 levels by next year.

“For more than a decade, Bank of America has invested heavily in supporting our clients’ financial health through industry-leading solutions and ongoing enhancements to our overdraft services,” said Holly O’Neill, President of Retail Banking, Bank of America. “Our scale, client focus and technology investments have allowed us to adopt policies and innovate in ways that help clients manage their everyday finances and liquidity needs on their own terms, while also delivering for our shareholders.”

Fees aren’t going completely away

Bank of America customers should note that the company is not completely eliminating overdraft fees; it's just reducing the amount that consumers have to pay. As part of its recent actions, customers now only pay $10 for overdraft fees instead of $35. 

However, customers can get around those reduced fees through Bank of America's SafeBalance checking account. The program costs $4.95 each month, with exceptions for students, people under age 18, or customers who are enrolled in the bank’s Preferred Rewards program. 

Ford Motor Company is recalling 64,974 model year 2022 Mavericks.

The side-curtain airbags may not deploy properly, which increases the risk of an injury in a crash.

What to do

Dealers will replace the left and right side-curtain airbag modules with a new design for free.

Owner notification letters are expected to be mailed on September 22, 2022.

Owners may contact Ford customer service at (866) 436-7332. Ford's number for this recall is 22C20.

The U.S. Food and Drug Administration (FDA) has cleared the way for the over-the-counter sale of some hearing aids. The move is expected to lower the cost of hearing aids by opening the industry to more competition.

The FDA issued a final rule that establishes a new category of hearing aids, enabling consumers with mild to moderate hearing impairment to buy hearing aids directly from stores or online retailers without the need for a medical exam, prescription, or a fitting adjustment by an audiologist. 

Congress passed bipartisan legislation five years ago that required the FDA to create a category of OTC hearing aids, but it was not fully implemented until now. The agency said consumers could see hearing aids on store shelves in traditional retail and drug stores as soon as mid-October when the rule takes effect.

Consumers have long complained about the high cost of hearing aids and exams, largely because they are not covered by basic Medicare and are not usually included in health insurance coverage.

Pricey devices

The cost of the hearing aids themselves can range from $1,000 to $6,000 per ear, meaning some people who could benefit from them can’t afford them. Sometimes multiple appointments with an audiologist are required to achieve the correct calibration and fitting.

“Reducing health care costs in America has been a priority of mine since day one and this rule is expected to help us achieve quality, affordable health care access for millions of Americans in need,” said Health and Human Services Secretary Xavier Becerra.

“Today’s action by the FDA represents a significant milestone in making hearing aids more cost-effective and accessible.”

Who could benefit

The Hearing Loss Association of America (HLAA), while applauding the move, points out that OTC hearing aids will not be for everyone. The group says people who have difficulty hearing conversations in quiet environments will likely need the professional services of an audiologist.

It says examples of “mild to moderate” hearing loss would include not being able to fully understand conversations in groups, with background noise, or when you can’t see who is talking; hearing telephone conversations; or if you frequently ask people to repeat themselves.

People who are considering the purchase of OTC hearing aids should ask if there is a free trial period or a money-back return policy. If the devices require an app or smartphone, that should be determined before the purchase.

The HLAA says other questions to ask concern Bluetooth capability, volume controls, and how the device is recharged.

Zoom rapidly gained popularity during the COVID-19 pandemic as more consumers shifted to remote work. However, users have faced several security and privacy issues over the years in connection to the service. Now, one researcher says a new bug is putting Mac users at risk. 

Patrick Wardle, founder of the nonprofit organization Objective-See, stated at a recent DefCon event that a flaw in Zoom’s automatic update tool could allow hackers to infiltrate Mac computers. He explained that when this tool runs an update, it looks for a signing certificate – or a unique digital verification code – that matches Zoom. 

Since automatic updates do not require a password to be installed, Wardle says hackers could create packages that mimic Zoom’s signing certificate to install malicious files or programs onto users’ Macs. This could allow them to completely take over the device to delete files, steal passwords, or alter documents. 

Get the latest version of Zoom

Wardle initially told Zoom about his findings back in December, which prompted the company to create a fix for the issue. Unfortunately, that fix reportedly included a bug that still allowed the automatic updater vulnerability to be effective. 

Following Wardle’s DefCon presentation, Zoom issued a new patch under update 5.11.5 (9788). Mac users should download this update immediately to protect themselves from hackers.

There are few lines that scammers won't cross -- a sad fact that ConsumerAffairs learned when we received an email that supposedly came from a personal friend. The red flags began when the sender asked for a favor.

“Thanks for the response please. I need to get an Amazon e-gift card for my friend who is diagnosed with Stage 4 mesothelioma cancer. It’s her birthday today. I tried purchasing them myself but my card got declined. Could you get them on Amazon and have them sent to her email address? Let me know so I can provide you with her email address,” the message read.

While the email came from the friend’s email account, the message screamed “scam.” Besides the odd syntax of the message, it was completely out of character for the old friend, who, by the way, is a doctor. Surely they had more than one credit card. But it was a clever pitch that was designed to tug at the heartstrings. A less suspecting friend's first instinct might be to help out, which is what the scammer is counting on.

Scammers love to get paid with gift cards because they are untraceable and cannot be retrieved once they are in the hands of a criminal. While people have grown increasingly wise to someone masquerading as the electric utility wanting to be paid in gift cards, the request to email Amazon gift cards as a gift to a dying friend might seem much more plausible.

If the recipient of the “friend’s” email had agreed, they would have been instructed to email the e-gift cards to an email address belonging to the scammer. It turns out that the old friend’s email account had been hacked. The scammer had access to all of their contacts, all of whom probably received the message.

Example of an identity scam

The scheme is an example of an “identity” scam. In this case, the criminal doesn’t have to steal someone’s entire identity; they only have to hack into their email account. The Identity Theft Resource Center (ITRC), in its latest Trends Report, noted that these types of crimes are increasing.

Tricking someone into buying a few gift cards can be profitable for a scammer, but most identity scams are much more dangerous. The ITRC report identifies the identity scams reported in 2021 and how criminals convinced people to willingly share information they know should be protected. 

Consumers who want to learn more about identity theft, including how to protect themselves from these attacks, should check out ConsumerAffairs' resource here.