Current Events in November 2022

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    Should you open a Buy Now, Pay Later account this holiday season?

    There are signs that consumers who have are getting over-extended

    With Black Friday fast approaching many consumers may be considering opening buy now, pay later (BNPL) accounts to help finance holiday purchases. But after two years of rapid growth in the financial services industry, some caution lights are flashing.

    Earlier this year J.D. Power issued a report that found people using what should be an efficient way to make a big ticket purchase are running into trouble. Theoretically, BNPL services should be a no-brainer.

    A consumer makes a purchase but only puts down 25% of the price. Two weeks later they pay another 25% with equal payments following every two weeks until the purchase is paid for. In many cases, there are no fees or interest.

    If you make just one BNPL purchase, the loan should be very manageable. But if you have a dozen such loans at once, that’s where consumers are running into trouble.

    J.D. Power found that a growing number of borrowers are opening multiple BNPL accounts and don’t repay the loans on time, resulting in interest and fees. The report found young consumers are especially vulnerable.

    “They tend to have more accounts and are more likely to be paying off multiple purchases at once,” the authors wrote. “However, many are also failing to take advantage of interest-free options and instead paying beyond their budgets and not paying on time.”

    Close scrutiny from regulators

    The rapid growth of BNPL has gotten the attention of financial regulators. In a recent report, the Consumer Financial Protection Bureau (CFPB) found that late fees are becoming more common – that 10.5% of unique users were charged at least one late fee in 2021, up from 7.8% in 2020.

    Of special concern, the CFPB said borrowers may encounter products that do not offer protections that are standard elsewhere in the consumer financial marketplace. 

    “These include a lack of standardized cost-of-credit disclosures, minimal dispute resolution rights, a forced opt-in to autopay, and companies that assess multiple late fees on the same missed payment,” the report said.

    Tighter lending standards

    As late fees mount, BNPL lenders appear to be tightening lending guidelines. Some consumers who have used BNPL accounts in the past have reported being declined when they applied in 2022.

    Erica Seppala, a financial analyst at MerchantMaverick.com, says most BNPL firms have their own set of requirements.

    “At any time, a user can be reevaluated to determine if he or she still meets these requirements,” Seppala told ConsumerAffairs. “For some consumers, this may lead to an increased credit limit. For others, a reduced credit limit or even an outright denial of credit is possible if the requirements are no longer met.”

    While BNPL may be an improvement over payday loans, some in the financial services industry think consumers would be better served by having an even longer payback period. Marc Werner, co-founder and CEO of GhostBed, said he found a way to do just that.

    “Luckily, I was able to secure an industry-leading financing plan with Affirm,” he told us. “That allows us to offer three to five years for as low as 0% APR. While our competitors are only offering financing from 12 to 18 months with a lower approval rate.”

    Putting holiday purchases on a credit card allows for an open-ended payback period but that carries extremely high credit card interest rates, presenting its own set of costly problems. 

    A less costly option is a personal loan. It provides a long payback period and its interest rate is about half of what credit card lenders charge.

    With Black Friday fast approaching many consumers may be considering opening buy now, pay later (BNPL) accounts to help finance holiday purchases. But afte...

    Subway sandwiches may be available everywhere, thanks to 'smart fridges'

    Contactless and cashless all the way

    Subway is convinced that there’s a whole bunch of hungry consumers not even close to one of its restaurants who would still like one of its signature subs wherever and whenever they want.

    The sub chain is so convinced that it’s adding to its 400 Grab & Go locations by unveiling a new smart fridge format it thinks will help tap customers in places like airports, college campuses, hospitals, and truck stops.

    There’s lots of money to be made at those places, too. Locations that were hit hardest by COVID-19 restrictions, such as airports, college campuses and hospitals, experienced an average 22% sales increase for the first three quarters of 2022, indicating a strong recovery in 2022 across channels impacted by the pandemic.

    “Hey, Subway, is there mayo on that roast beef sub?”

    The refrigerators won’t have just subs, but also drinks and chips. The machines will also have more technology than your typical vending machine, too.

    For example, in Alexa- and Hey Google-like fashion, consumers can ask the machine questions about the selections inside and the unit’s weight-sensing shelves can also alert the fridge how much to charge. 

    And, for the credit card users and clean freaks of the world, not to worry – the whole thing is a completely contactless and cashless transaction, and UV-C light sanitation after every purchase helps guests stay assured about the quality of their food.

    "Subway Grab & Go has quickly gained traction as consumers are drawn to sandwiches made fresh daily from a brand they know and love, versus competitor items that rely on a 14-day plus shelf life," said Karla Martinez, director of innovation for non-traditional development.

    "As Subway continues to expand off-premises concepts, guests can expect to find Subway Grab & Go and smart fridges in more convenient everyday places like airports, college campuses, and hospitals."

    Subway is convinced that there’s a whole bunch of hungry consumers not even close to one of its restaurants who would still like one of its signature subs...

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      Frontier Airlines ordered to pay $222 million in refunds and a $2.2 million penalty

      Travel agencies like Orbitz could hear from the DOT next

      Anyone who’s had a flight canceled or significantly changed in the last year or so is due a refund. The U.S. Department of Transportation (DOT) said it’s had enough of airlines not giving mistreated passengers their due, fining Frontier Airlines and five foreign carriers -- Air India, TAP Portugal, Aeromexico, El Al, Avianca -- $7.2 million in penalties and forcing those six to cough up $600 million in refunds to those scorned fliers.

      When the DOT mandated that airlines must offer refunds over vouchers for canceled flights during COVID-19 outbreak, Frontier played the victim card and refused, taking the issue to court where a Federal judge let the company off the hook.

      “When a flight gets canceled, passengers seeking refunds should be paid back promptly. Whenever that doesn’t happen, we will act to hold airlines accountable on behalf of American travelers and get passengers their money back,” said U.S. Transportation Secretary Pete Buttigieg. “A flight cancellation is frustrating enough, and you shouldn’t also have to haggle or wait months to get your refund.” 

      With those fines, the department’s Office of Aviation Consumer Protection has assessed $8.1 million in civil penalties in 2022, the largest amount ever issued in a single year by that office. 

      So, will this refund refusal stop now?

      Under U.S. law, airlines and ticket agents are legally obligated to refund anyone holding a ticket if the airline cancels or significantly changes a flight to, from, and within the United States, if the passenger does not wish to accept the alternative offer, which is usually a voucher. The DOT says it is unlawful for an airline to refuse refunds and instead provide vouchers to such consumers.  

      Locking down price transparency – especially for those fees airlines have for nearly everything – is the next major move consumers can expect from the DOT. 

      Under a recently proposed rule, airlines and travel search websites, like Expedia and Travelocity, would have to make it clear as day upfront any fees charged to sit with your child, for changing or canceling your flight, and for checked or carry-on baggage. 

      ConsumerAffairs reviewers have had as much of this fee business as they can take. In the last year, nearly 90 consumers have written concerns about Frontier Airlines and its refund policies, and another 30 plus about the same dissatisfaction with Orbitz.

      “They have a policy that states they do not give refunds on flights booked within 7 days,” Jon of Los Angeles, wrote. “I booked through Orbitz and Orbitz did not notify me of this.”

      It’s about time says consumer watchdog

      “It’s great that the DOT is finally demanding some accountability, but  $600 million is a drop in the bucket. Airlines owe some $10 billion in refunds going back to the beginning of the pandemic,” U.S. PIRG Consumer Watchdog Teresa Murray said in response.

      “Furthermore, only one U.S.-based airline is in this group. Domestic carriers accepted billions of dollars in taxpayer money to stay afloat during the early months of the pandemic. As travelers know all too well, the industry used the money to offer employees lucrative buyouts and retirement packages, leaving their operations understaffed." 

      Anyone who’s had a flight canceled or significantly changed in the last year or so is due a refund. The U.S. Department of Transportation (DOT) said it’s h...

      Amazon says it’s ready for the holidays with alternate delivery methods and easy-peasy returns

      No box, no label, no problem returns

      If there are going to be any holiday shipping or returns issues, Amazon says it’s not going to be on its watch. It’s had a year to focus on improving ways to ensure that customers can get what they want, when and how they want it. 

      Here's all the retailer is offering its customers this holiday season...

      Pick up your package… at Dollar Tree?

      Of the retailer’s three main focus areas, its alternate delivery methods may be the most consumer-aware. Realizing that American consumers aren’t a one-trick shopping pony, Amazon has secured package pickup arrangements with widespread store networks like 7-Eleven, Staples, Rite-Aid, Family Dollar, Chevron, Circle K, Ross, and Dollar Tree. 

      But it doesn’t stop there. When ConsumerAffairs searched Amazon’s delivery options map, we saw dairies, flower shops, sub shops, and drugstores.

      Need something in a day or less?

      Amazon’s also been working on expanding its Same-Day Delivery option in 90+ metro areas so shoppers in those areas can get what they need the same day they order it.  

      Those areas include the Atlanta metro area, as well as Chicago, Dallas, Las Vegas, Phoenix/Scottsdale, Seattle, Miami, Nashville, Baltimore, Charlotte, Cincinnati, Washington D.C., and others. To find out if a specific metro area is included, all someone needs to do is check out the company’s Same-Day delivery page.

      Now, mind you, not everything Amazon has in its store is available for same-day delivery. It has specific partnerships that are doing their part to make those happen and most of the items will likely have to be from those brands’ stores. At the moment, PacSun, GNC, SuperDry, and Diesel are in on the arrangement. For a complete list of retailers and item options, it’s available here.

      An additional option is that some stores also offer the option to buy online and pick up in-store. It’s not a total freebie, however. A shopper has to spend $25 or more on qualifying items and for members who spend below $25, there’s a charge of $2.99. 

      One neat spin ConsumerAffairs found with Amazon Day is for shoppers who want to have a gift delivered on a specific day as sort of a surprise for someone. Prime members can enjoy that added perk for free. 

      No box, no label?

      What – you didn’t really want those lavender Kim Kardashian headphones? No problem. Amazon says that holiday ‘22 will include the usual free returns on most items delivered in the U.S., but this season, customers can make returns at physical locations like Whole Foods Market, Kohl's, and UPS stores. The neatest part about the company’s new returns policy is that consumers don’t even have to have packaging – or a label – at select locations, 

      If there are going to be any holiday shipping or returns issues, Amazon says it’s not going to be on its watch. It’s had a year to focus on improving ways...

      Tempted to jump back into the stock market? A top Fed official urges caution

      Fed Governor Waller says last week’s big rally was an ‘overreaction’

      Last week's big stock market rally in response to tamer-than-expect inflation numbers may have many investors wondering if it’s safe to get back into the market. A top Federal Reserve official says no, it’s not.

      In a speech over the weekend, Federal Reserve Gov. Christopher Waller said the Fed is nowhere near the end of its interest rate-raising cycle. He said the market “overreacted” last week when it rose about 8% on Thursday and Friday.

      Stocks rallied across the board when the Consumer Price Index (CPI) came in slightly lower than expected, with many investors jumping to the conclusion that the slowdown might cause the Fed to stop raising interest rates. Waller says that’s the wrong conclusion.

      At an investors conference in Australia, Waller answered a series of questions about the Fed’s campaign to bring down U.S. inflation. He said stock market investors should focus on a point at which policymakers stop raising rates, adding that the endpoint “is a ways off.”

      "We're not softening,” Waller said. “Quit paying attention to the pace and start paying attention to where the endpoint is going to be. Until we get inflation down, that endpoint is still a ways out there."

      Looking for ‘bargains’

      Last week the stock market rallied off its recent lows as many investors scooped up beaten-down names among big tech and semiconductor stocks. But Waller says investors need to understand that the Fed’s work “has a long way to go.”

      Noting that October’s 7.7% annual inflation rate is an improvement over the month before, Waller said 7.7% is still unacceptably high.

      "We're going to need to see a continued run of this kind of behavior and inflation slowly starting to come down before we really start thinking about taking our foot off the brakes," Waller said.

      Earlier this month Fed policymakers raised the federal funds rate another 0.75%. The Fed meets again in mid-December when it is expected to announce yet another rate hike.

      Individual investors should do their own research and seek qualified, objective advice before making major financial decisions.

      Last week's big stock market rally in response to tamer-than-expect inflation numbers may have many investors wondering if it’s safe to get back into the m...

      Here are the cars that hold their value the most

      Large luxury vehicles, meanwhile, lose value the fastest

      Buying a new car? You may be considering a vehicle that gets excellent fuel economy. But fuel costs are not the biggest expense a car owner faces.

      The biggest cost is depreciation as the vehicle loses its value. In fact, it’s been said a new car loses several thousand dollars in value when the new owner drives it off the lot.

      While that may be true, some cars lose value faster than others. And when buyers are paying over the sticker price in many cases, slowing depreciation can pay off.

      In a new study, analysts at iSeeCars.com have listed the cars that lose value the fastest and vehicles that depreciate the slowest. The car that sheds its resale value the fastest is the BMW 7 Series.

      The 7 Series is a pricey car to begin with but the iSeeCars analysis found the luxury sedan loses 69% of its purchase price after five years. In fact, most of the cars on that list are expensive luxury cars and all of the vehicles in the top 10 lose 50% or more of their value after five years.

      Wrangler models hold the top two spots

      Buyers who would like to retain more on their investment have plenty of options. For example, the vehicle retaining its value the longest is the Jeep Wrangler. After five years, the Wrangler has only lost 7.3% of its value.

      Its cousin, the Jeep Wrangler Unlimited, is almost as good. After five years it is down only 8.7%, a little more than $3,000 less than the manufacturer’s suggested retail price (MSRP).

       “The Jeep Wrangler continues to embody the ultimate off-road companion, with timeless styling that keeps it popular long after it has left the new-car showroom,” said Karl Brauer, executive analyst at iSeeCars.com. “Based on historical data, it’s no surprise these two Jeeps were the best resale value winners in 2021 as well. The Wrangler is essentially the poster child for ‘ Best Resale Value Awards. ’”   

      Even though it’s an expensive car, the Porsche 911 holds onto a lot of its value. After five years it has lost just under 15% of its value, but because the sticker price is so high that amounts to around $20,000.

      Good fuel economy helps

      The Toyota Tacoma pickup also loses about the same percentage but the dollar amount is significantly smaller, around $6,000.

      The other cars on the list are some of the most popular, best-selling cars: the Toyota Corolla, Nissan Versa, and Honda Civic. Those three are compact cars with high gas mileage, which are usually in demand when fuel prices are high.

      Keep in mind that buying a car that retains much of its value won’t have an immediate payoff for buyers. The reward comes when it’s time to buy a new car and the owner gets a higher price for the trade-in.

      Buying a new car? You may be considering a vehicle that gets excellent fuel economy. But fuel costs are not the biggest expense a car owner faces.The b...

      There’s a pile of money waiting for consumers as part of class action settlements regarding baby formula and margaritas

      There are claim forms to fill out, but we give you all the links

      There's not a week that goes by that a major brand or manufacturer settles a class action lawsuit. Many of those claim that consumers were done wrong in one way or another.

      As these lawsuits go, the settlements can run into multi-millions of dollars, a portion of which the wronged parties might receive. Here's ConsumerAffairs' latest round-up of what's recently become available.

      Purchased baby formula recently?

      This year hasn’t been so good for Abbott Laboratories. In June, the company found itself being investigated by the U.S. Food and Drug Administration (FDA) after an infant who was given formula made by Abbott Laboratories, died. 

      Then, the company’s production of baby formula caught grief from the FDA for an infant formula shortage, which then led to allegations by a whistleblower who claimed problems at one of Abbott’s baby formula plants were known a year before shutdown.

      And, while all of that was going on, the company was fighting a class action lawsuit that alleged that the label on certain infant formula products manufactured by Abbott led consumers to believe that those products were capable of making a specified number of liquid 4-ounce bottles of formula, when in fact it couldn’t.

      To avoid the rigors of fighting the lawsuit and to get back to business, Abbott Laboratories has settled this case. All totaled, there’s $19.5 million available to consumers who live in the United States and purchased certain Abbott Laboratories formula products between June 24, 2016, and September 22, 2022.

      Full details of the settlement including how to file a claim are available here. Claim Forms must be submitted online or postmarked by January 31, 2023.

      Do you drink margaritas?

      If you purchased one of Anheuser-Busch’s (AB) “Ritas” drinks expecting that there was some type of alcohol content like tequila or wine, listen up. 

      AB was on the wrong end of a class action lawsuit claiming false advertising laws for representations that those Ritas brand products contained wine or distilled spirits when they didn’t. Rather than fight the lawsuit in court, AB denies all allegations and has settled this lawsuit to avoid further litigation. 

      If you purchased any of these products between January 1, 2018, and July 19, 2022, you may be a “Settlement Class Member.” Depending on whether claimants have proof of purchase or not, they can receive up to $21.25 per household. Claims can be filed here.

      Suboxone

      Consumers who were prescribed the opioid withdrawal medication Suboxone could take part in what’s left of a $59 million Federal Trade Commission (FTC) settlement as a result of false advertising and antitrust violations. According to the FTC and TopClassActions, the manufacturers hatched a plot to maximize Suboxone profits at the expense of consumers. 

      How so? It seems that the companies were a little too aggressive in trying to convince more patients to take their branded medication, so they allegedly deceived both patients and doctors with claims that the sublingual film version of Suboxone was safer than its tablet version kin.

      Much of the original distribution is gone, but there’s still $500,000 that the FTC wants to distribute. If you were prescribed Suboxone oral film between March 1, 2013, and Feb. 28, 2019 and haven’t filed for part of the original settlement, you can apparently apply for this one. The necessary forms are here, but time is of the essence – you must submit your claim by November 26, 2022.

      Snap Finance

      If anyone needs proof that a company can hound consumers with phone calls and violate the Telephone Consumer Protection Act (TCPA), just ask Snap Finance, a Utah-based financial services company. Snap was accused of violating the TCPA when it placed at least 60 calls in a three-month period. 

      The company’s bread and butter it seems are consumers who are credit challenged and looking for a quick financing deal to help them make a purchase. “Good credit? Poor credit? No credit? Snap Finance has got you covered with lease-to-own financing made simple,” the company claims on its website.

      The settlement class includes anyone living in the United States “(1) to whom Snap Finance LLC placed, or caused to be placed, a call, (2) directed to a number assigned to a cellular telephone service, but not assigned to a current or former Snap Finance LLC accountholder, (3) in connection with which Snap Finance LLC used an artificial or prerecorded voice, between Sept. 1, 2019, and June 14, 2022.

      Anyone who feels they were besieged by calls from Snap could be considered a class member and receive an estimated payment of $300 to $1,000. TopClassActions reports that the actual amount will depend on the number of claims the settlement administrator receives. To file a claim, go here.

      The deadline to file a claim is Dec 12, 2022.

      There's not a week that goes by that a major brand or manufacturer settles a class action lawsuit. Many of those claim that consumers were done wrong in on...

      The CDC raises alarm about deli counters connected to a new Listeria outbreak

      More than a dozen hospitalizations, a death, a miscarriage, and 16 illnesses have been reported so far

      Amid a flurry of recent Listeria warnings, the Centers for Disease Control and Prevention (CDC) is warning consumers about a new outbreak – this time one that involves deli meat and cheese that has produced at least 16 illnesses, 13 hospitalizations, a miscarriage, and a death in six U.S. states, including California, New York, Illinois, New Jersey, Massachusetts, and Maryland. 

      That number is frightening enough, but the agency said that the actual number of illnesses is probably higher because many people either don’t seek medical care and don’t get tested for Listeria. 

      Listeria is becoming a big problem. Some 19% of food recalls reported by the Food and Drug Administration and the U.S. Department of Agriculture involved Listeria, according to U.S. PIRG Education Fund’s  analysis. 

      What specific meats and cheeses should consumers be on the lookout for?

      “Deli meats (cold cuts, lunch meats, hot dogs, and pâtés sold at the deli) and cheeses are known sources of Listeria illnesses. This is because Listeria can easily spread among food on deli countertops, deli slicers, surfaces, and hands,” is the specific warning from the CDC.

      The CDC added that it’s important for consumers to know that they can’t expect that refrigerating their deli meats and cheeses will do the trick, either, because Listeria is a hardy germ that can survive cold temperatures and is difficult to fully remove once it is in the deli. The only hot-or-cold thing that is a safe, preventative bet according to the CDC is reheating those items to 165 degrees or steaming hot.

      Pregnant and those 65 or older should take extra precaution

      The CDC is advising people who are pregnant, those age 65 or older, or anyone who has a weakened immune system should avoid eating any meat or cheese from any deli counter because Listeria can make people in these high-risk groups seriously ill. 

      The agency says if someone is suffering from headaches, stiff neck, confusion, loss of balance, and convulsions, in addition to fever and muscle aches, it’s a good possibility that they have consumed contaminated food. 

      “It’s stunning that we’re seeing another Listeria outbreak that took more than a year to identify. Past outbreaks involving foodborne illnesses have sometimes taken months or years before all of the cases could be linked. We need to have a better way to trace our food and track illnesses so more people aren’t put at risk,” Teresa Murray, Consumer Watchdog at U.S. PIRG Education Fund, told ConsumerAffairs.

      “The CDC estimates that every year, 48 million people get sick, 128,000 are hospitalized and 3,000 die from foodborne illnesses in this country. This is sad and avoidable -- and we need to stop this outbreak before it adds any more people to those numbers.” 

      Amid a flurry of recent Listeria warnings, the Centers for Disease Control and Prevention (CDC) is warning consumers about a new outbreak – this time one t...

      Five products in your home that may be about to fail

      Consumers report problems from exploding glass to overheating hairdryers

      Your home can be a dangerous place. You could trip over a rug in the hallway or slip and fall in the shower.

      But some products in your home can also be dangerous, although regulators work to identify them and issue recalls. But there may be other products in your home that have yet to be recalled but nonetheless might pose a hazard.

      ConsumerAffairs researchers scoured the internet looking for consumer comments and complaints about products that are not only potentially hazardous but also might not work the way they are intended.

      Mueller’s “onion chopper” vegetable slicer was the subject of a recall in 2020 but is still triggering consumer complaints. It was deemed a laceration risk but some consumers report they never got the promised replacement.

      “I submitted all the required information & Mueller sent me an email saying I’d be sent a replacement,” a reviewer named Mishelle posted on Amazon in 2021. “That was 11/27/20. I have yet to receive my new chopper or hear from Mueller with a delivery status. Not happy!”

      Exploding glass

      Some consumers have complained that Hamilton Beach slow cookers have glass lids that are prone to shattering. Some consumers have reported the glass lids shatter with no apparent stimulus from the user.

      In recent years ConsumerAffairs has received reports of glass cookware shattering after being heated in an oven and then being exposed to room temperature, suggesting consumers should exercise caution when heating tempered glass.

      “Bought Pyrex set at Walmart 10 days ago first time I used it for a rack of ribs,” Mike, of Sierra Vista, Ariz., reported earlier this year. “Put it in a 350-degree oven and 40 minutes later it exploded into a million pieces.”

      While TV sets seem to be more reliable than they were a decade ago, some consumers still report problems. Some have complained that the Sony X900H TV’s variable refresh rate (VRR) feature does not work as advertised, substantially lowering the picture quality at higher refresh rates. 

      Sony’s X900H is advertised as a device that is optimized for the PS5 and next-gen gaming, equipped with a variable refresh rate feature that provides “reduced input lag, increased frame rate, and ultra smooth motion.” 

      “I love that the x900h, advertised with 4k and vrr and 120hz, actually didnt mention that VRR disables local dimming and 120hz halves the horizontal or vertical resolution so it looks worse than 1080p at times, it’s incredibly frustrating,” WoodyTSE posted on Reddit earlier this year.

      Overheating hair dryer

      Some consumers have claimed the Conair Cord Keeper hair dryer is defectively designed and prone to overheating, causing internal components to melt. Several claimed the 1,875-watt hair dryers pose a risk of burns or fires.

      “While drying my hair today I heard a pop and then a spark along with a flash of flame coming from the cord,” GMCchick posted in a review on Amazon earlier this year. “Not wanting the fire to get to the outlet I panicked and unplugged the burning cord from the outlet and dropped it on the floor where I was able to put out the fire.”

      Companies often issue recalls for products after federal safety regulars get a large number of complaints. Consumers who encounter what they believe to be defective or unsafe products can report them to the U.S. Consumer Product Safety Commission (CPSC) here.

      It’s also helpful to share your experience with fellow consumers by posting a review on ConsumerAffairs.

      Your home can be a dangerous place. You could trip over a rug in the hallway or slip and fall in the shower.But some products in your home can also be...

      Veterans Day scams are lining up for their own parade this week, so be careful

      Whoever you decide to contribute to, make your donation via a credit card

      Coming up on Veterans Day 2022, charity scammers are trying to elbow their way in among the honest charities that support servicemembers and veterans. They’ve got their pitch down pat, too – but the only charity they represent is themselves! 

      Tugging at your heartstrings with narratives about fake causes, these pretenders are so slick that they will have you reaching for your wallet in no time flat. But the Federal Trade Commission (FTC) has some simple tips on how to spot these charity scams and make sure your donations count for those who honestly deserve it.

      Who, what, and how to pay?

      If you want to catch charity scammers early in their spiel, you’ll need to do a little research about who they say they’re affiliated with and how your money will impact the program you want to help. Here are a few ways to do just that:

      Check the name of the charity and its ratings. The first smart move would be to search the charity’s name online with words like “complaint,” “fraud,” and “scam.” 

      Another surefire way to spot a bad actor is by checking out the charity at least two charity watchdogs –  Charity Navigator, the IRS charity search, the Better Business Bureau’s Wise Giving Alliance, or CharityWatch. An added option is contacting the charity regulator in the state where you live to validate whether the organization is actually registered to ask for donations there. 

      Why get two pieces of validation? A recent investigation raised concerns that the world of charity oversight is simply a hot mess. Unregulated, understaffed, and inconsistent from one watcher to another.

      “When the system works correctly, bad actors are brought to justice,” wrote Jasper Craven in the New Republic. “But as the number of nonprofits has exploded to just shy of two million organizations, the industry remains plagued by chronic under-regulation.”

      Find out who’s behind a crowdfunding request or social media donation link — before giving. “Scammers use stolen photos and other people’s stories to raise money for themselves. Find out who’s organizing the campaign since that’s who gets the money donated,” said the FTC’s Terri Miller, a consumer education specialist.

      “They’re expected to give it to the intended recipient. The safest way to give through crowdfunding or social media is to only donate to people you know and trust.”

      Pay with safer payment methods. If a charity worker – legit or illegit – gets you to the point where you actually decide to make a donation, they’ll try and do it in a way that makes it hard to get your money back — by gift card, wire transfer, or by cryptocurrency. The safest way to donate is by using a credit card, which will give you some protection if something goes wrong.

      Add extra layers of protection. Scammers try to cover every inch of a person's life in their fundraising fakery, so make sure you don't click on links in emails or social media posts. It's not money that is necessarily the target in those two situations but getting the consumer to install malware on their computer which will give the scammer an even greater haul -- personal and private information that they can spin in other ways.

      Coming up on Veterans Day 2022, charity scammers are trying to elbow their way in among the honest charities that support servicemembers and veterans. They...

      Saks OFF 5th's rolls out new feature that shows guaranteed delivery dates

      The update will make shopping easier than ever for consumers this holiday season

      Though there’s plenty of time to order holiday gifts online without fear of when they’ll show up, that anticipation will start to build in the coming weeks. 

      To help offset some of those anxieties, Saks OFF 5th has rolled out a new feature – Guaranteed Delivery Date. Rather than showing a vague window of when an item will show up on your doorstep, or having shoppers wait until their order ships to know when it’s really coming, the company will now show shoppers precisely when their order will arrive

      “Before Guaranteed Delivery Date, SaksOFF5th.com customers were presented with a standard delivery time frame for each item, regardless of destination, which meant items shipping to New York, Seattle, or Hawaii all had the same shipping period of three to five business days,” said Shivi Shankaran, COO of SaksOFF5th.com.

      “With our new logistics capabilities now in place, we’re able to analyze all of the many factors that go into estimating a delivery date, such as where the product is, where it needs to go, who can help us deliver, and provide a concrete date for when customers will receive their package based on when they order. By introducing a customer-centric approach to our delivery experience, we’re making it easier to shop with Saks OFF 5th than ever before.” 

      Shoppers will be able to view their guaranteed delivery date once they’re in the checkout process. Their shopping cart will highlight the date of delivery, as well as the price of shipping for each shipping method.

      However, shoppers will also see a countdown timer – they must complete their order before the timer runs out in order to lock in the original guaranteed delivery date. 

      The company reported that while most orders will fall under the new Guaranteed Delivery Date, not all will. For those that don’t, there will be an estimated delivery range for when the package will be delivered. 

      Additionally, should a package be delivered after Saks’ Guaranteed Delivery Date, customers are eligible for a refund for their delivery charge. 

      Shopping becomes more efficient

      With this new feature, shoppers will know immediately whether the item they have their eye on will arrive in time, or if they should start looking for backup options. 

      Saks OFF 5th worked both internally and with Shipium, a shipping and technology company, to make their estimated delivery dates as precise as possible for every single item. The company has also started working with more delivery carriers to improve the delivery process and allow shoppers to get their items as quickly as possible. All of these efforts, the company says, combined with advancements in technology and fulfillment centers have made it possible for Saks OFF 5th to improve its delivery date process. 

      The company also believes that more accurate delivery dates will improve its delivery efficiency, as well. With the holiday season underway, it estimates that shoppers will have as many as three additional days to place their order and ensure a Christmas delivery date. 

      There will also be even more ways to ship deliveries this holiday season. Shoppers can expect to have more options – such as Next Day Delivery and Expedited Delivery. The Guaranteed Delivery update will be available for all delivery options, and they will also show the costs associated with each choice. 

      Though there’s plenty of time to order holiday gifts online without fear of when they’ll show up, that anticipation will start to build in the coming weeks...

      Inflation increased in October but at a slower rate

      But if you were renting a home or buying heating oil, you might not have noticed

      The cost of living rose again last month, but not as much as expected. The Labor Department reports the Consumer Price Index (CPI) rose 0.4% from September – 7.7.% over October 2021.

      When the government stripped out costs of food and energy, prices rose 0.3%, half the rate of September’s rise. But that doesn’t mean consumers didn’t feel some pain, especially in certain sectors.

      The shelter index, which covers rent and mortgage costs, accounted for over half of the monthly all items increase. Rents continue to rise and mortgage rates moved sharply higher during the month.

      Here are some other consumer items that cost more last month:

      • Gasoline prices rose 4% from September, 17.7% from October 2021

      • Electric bills rose 0.1% from September, 14.1% from October 2021

      • Food prices rose 0.6% from September, 10.9% from October 2021

      Huge increase in heating oil prices

      Consumers who heat with oil and filled their tanks last month got hit the hardest. The price of heating oil jumped 19.8% from September and 68.5% from October 2021.

      While overall food costs continued to rise, eating away from home got a lot more expensive. Food consumed away from home rose 0.9% from September and 8.6% over the last 12 months. Food consumed at home rose 0.4% over the last month but the cost is up 12.4% since October 2021.

      Some things consumers buy actually came down in price. The price of used cars and trucks continued to fall from its record high, declining 2.4% over the last month and is now just 2% higher than a year ago. New vehicles, meanwhile, rose 0.4% and cost 8.4% more than a year ago.

      Clothing costs were also lower last month as retailers slashed prices to reduce inventory. Apparel costs fell 0.7% but are up 4% year-over-year.

      Medical costs were also lower in October. Costs fell 0.6% from September but are up 5.4% from a year ago.

      The cost of living rose again last month, but not as much as expected. The Labor Department reports the Consumer Price Index (CPI) rose 0.4% from September...

      How much value has your home lost? Maybe more than you think

      On the other hand, homeowners in some markets are still seeing home values rise

      Maybe you have no intention of selling your home anytime soon so a decline in home prices is not a big concern. At the same time, the equity in your home probably makes up a big piece of your net worth.

      The good news? The decline in home values has slowed from the summer months. But the bad news is that homeowners nationwide lost $1.3 trillion in home equity in the third quarter of this year, according to a report by Black Knight, a property data firm. It’s the largest quarterly dollar decline on record and the largest on a percentage basis since 2009.

      “As we reported at the time, while hitting a record high in Q2, total homeowner equity peaked mid-quarter in May and has been pulling back ever since,” said  Ben Graboske, president of Data & Analytics at Black Knight. Equity among mortgaged properties is now down nearly $1.5 trillion since that point.”

      For most homeowners who purchased their homes five or more years ago, the decline in values may not be all that concerning. But the report shows the number of mortgage holders who are now underwater more than doubled during that time. Still, Graboske says that’s hardly cause for alarm.

      “It's important to note that -- even with 275 thousand falling underwater since May -- fewer than half a million homeowners owe more on their homes than their current values,” he said. Historically speaking, that is still extremely low.

      Recent buyers are feeling the most pain

      Most underwater borrowers purchased homes in 2020 and 2021, as prices were reaching record highs during the pandemic. Most obtained low fixed-rate mortgage rates, meaning their payments haven’t changed, even though they have lost equity.

      Many housing experts say home prices are simply returning to earth after the massive increase since the start of the COVID-19 pandemic. According to the Federal Reserve, the U.S. median home value in the first quarter of 2019 was $313,000. In the third quarter of this year, it was $454,000.

      Your home may not have lost much value at all, depending on where you live. Prices have suffered the sharpest declines in the nation’s most expensive markets. According to the Knock Buyer-Seller Market Index, homes in 98 of the 100 hottest housing markets have seen steep price declines. 

      But the same report projects that homes in 13 U.S. housing markets are still rising in price. They include Winston-Salem, N.C., Fayetteville, Ark., and Seattle.

      Maybe you have no intention of selling your home anytime soon so a decline in home prices is not a big concern. At the same time, the equity in your home p...