Current Events in January 2025

In news that may frustrate would-be homebuyers, home prices are not falling, even though sales are. In fact, they’re still going up just about everywhere.

A new report from real estate broker Redfin found that home prices rose year-over-year in all 50 of the nation's most populous metropolitan areas in December. It’s the first time that has happened since May 2022.

The December increase contrasts sharply with the previous year, when only 41 metros experienced a rise in home prices. Redfin Senior Economist, Elijah de la Campa said the last year has brought a shift, noting that traditionally affordable cities like Cleveland and Milwaukee are now witnessing double-digit price increases. 

Affordability is harder to come by

"Affordable housing havens have become harder to come by," de la Campa said in a press release, pointing out that even areas like Texas and Florida, which saw some price relief last year, are experiencing renewed price hikes. As a result, many prospective movers may turn to renting as a more affordable alternative, with rental affordability expected to improve as more supply enters the market.

The pandemic initially drove home prices to unprecedented heights due to record-low mortgage rates and heightened buyer demand. However, prices fell in 2023 when rates climbed to a two-decade high. 

By April 2023, only 19 metros saw price increases, the lowest number since 2012. Over the past year, prices have rebounded as buyers adjusted to higher mortgage rates, compounded by a shortage of homes for sale.

Price growth heading into 2025

In December, home prices recorded their most substantial gain in nearly a year, rising 6.3% year-over-year to a median of $427,670.

Cleveland led the nation with a 15% increase in median home sale prices in December, followed by Milwaukee (14.5%), Philadelphia (14%), Miami (11.8%), and Chicago (11.1%). Bonnie Phillips, a Redfin Premier real estate agent in Cleveland, reports sellers are holding firm on high price expectations, often refusing to negotiate even minor discounts. This has strained affordability, forcing many buyers to compromise on their ideal home locations.

It’s a different story in Florida, however, as metros like Tampa saw minimal price growth, with a mere 0.5% increase, the smallest among the top 50 metros. Orlando and Jacksonville followed closely with 1.3% increases, while Austin and San Antonio in Texas saw 1.5% and 1.6% rises, respectively.

The slower growth in these areas is attributed to extensive home building, which has tempered price increases, alongside subdued buyer demand due to affordability constraints and concerns over insurance and climate issues in Florida.

The Trump Administration's house-cleaning efforts went into high gear Friday night, as it ousted Inspectors General (IGs) at several major departments, among them Phyllis K. Fong, Inspector General for the U.S. Department of Agriculture (USDA).

The timing was at best unfortunate, as the IG was in the midst of investigating a serious food safety incident at Boar’s Head’s facility in Jarratt, Virginia, after a fatal listeriosis outbreak was linked to the plant.

The USDA’s OIG had been alerted to repeated sanitary violations at the facility, which had sparked concern among both the public and government officials, especially after several outbreaks traced back to the plant.

Fong, who had been the USDA Inspector General since her appointment in 2002, had managed to raise awareness and prompt action on numerous food safety issues, such as those at Boar’s Head. Security agents escorted Fong from the building after she said she did not believe the Administration had followed the proper steps to remove her from her Senate-approved post. 

The White House defended the firings, saying "these rogue, partisan bureaucrats... have been relieved of their duties in order to make room for qualified individuals who will uphold the rule of law and protect Democracy."

With her ouster, the outcome of the Boar's Head investigation is in doubt, along with the continuing examinations of the growth of bird flu and of Elon Musk's brain implant startup Neuralink. 

Obesity has been an ongoing struggle for many consumers, and for years, body mass index (BMI) has been the key metric health professionals have used to determine overweight and obesity. 

Now, the Lancet Diabetes & Endocrinology Commission, which includes health experts from 75 global organizations, is calling for a new method of defining and diagnosing obesity that goes beyond just BMI. 

The commission has created a new definition of obesity and new guidelines for diagnosing obesity. The goal is for consumers to better understand their overall health risks and receive the proper care they need. 

“The commission’s report is a major step forward in recognizing obesity as a disease and not merely a risk factor. It also helps clinicians identify individuals who are in need of treatment,” Dr. Robert Kushner, a member of the commission, said in a news release. 

What’s new? 

The researchers explained that relying on BMI alone doesn’t give health care professionals a full picture of consumers’ health. Instead, they suggest doing the following: 

• Getting at least one measurement of body size – waist circumference, waist-to-hip ratio, or waist-to-height ratio – in addition to BMI 

• Getting at least two measurements of body size – waist circumference, waist-to-hip ratio, or waist-to-height ratio – regardless of BMI 

• Getting direct body fat measurements – bone densitometry scan or DEXA – regardless of BMI 

“Relying on BMI alone to diagnose obesity is problematic as some people tend to store excess fat at the waist or in and around their organs, such as the liver, the heart or the muscles, and this is associated with a higher health risk compared to when excess fat is stored just beneath the skin in the arms, legs or in other body areas,” Commissioner Professor Robert Eckel said in a news release. 

“But people with excess body fat do not always have a BMI that indicates they are living with obesity, meaning their health problems can go unnoticed. Additionally, some people have a high BMI and high body fat but maintain normal organ and body functions, with no signs or symptoms of ongoing illness.” 

Pre-clinical obesity and clinical obesity

In addition to these new guidelines, the Commission is recommending two new obesity-related diagnostic categories – pre-clinical obesity and clinical obesity. 

In their report, they define clinical obesity as a standalone illness that’s characterized by both reduced organ function or a reduced ability to engage in regular daily activities. On the other hand, pre-clinical obesity is the early stages of the disease when it remains a risk factor, but all other health markers are in normal range. 

“This nuanced approach to obesity will enable evidence-based and personalized approaches to prevention, management, and treatment in adults and children living with obesity, allowing them to receive more appropriate care, proportional to their needs. 

“This will also save health care resources by reducing the rate of overdiagnosis and unnecessary treatment,” said Commissioner Professor Louise Baur. 

Honda is recalling 294,612 2022-2025 Acura MDX Type-S, 2023-2025 Honda Pilot, and 2021-2025 Acura TLX Type-S vehicles. A software error in the fuel injection electronic control unit (FI-ECU) may cause an engine stall or a loss of power.

An engine stall or loss of power can increase the risk of a crash or injury.

What to do

Dealers will reprogram the FI-ECU software, free of charge. Owner notification letters are expected to be mailed by March 17, 2025. Owners may contact Honda's customer service at 1-888-234-2138. Honda's numbers for this recall are EL1 and AL0.

Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153) or go to nhtsa.gov.

To determine if your vehicle is included in this recall, go to the NHTSA recall page and enter the license plate number or 17-digit VIN.

Social media has provided a platform for users to show off what they’ve recently purchased. So-called influencers have played a big role in that trend.

But a new trend may be emerging. Over the last five years, many people on social media have posted videos talking about what they aren’t buying.

The Wall Street Journal reports the movement may be reaching critical mass, with the label “No Buy 2025.” More and more people on social media are pledging not to buy anything but essentials this year. They’re getting encouragement from videos like the one below, describing how it works.

Breaking the paycheck-to-paycheck cycle

The objective is not to unnecessarily deprive yourself. Rather, it’s to save money by cutting spending on things you don’t really need – many of which are hawked relentlessly on social media. Many people have found they no longer live paycheck to paycheck.

“We are spending so much less money, it’s crazy,” Rachel Holdsworth, a part-time nurse and stay-at-home mom from Indiana, told the Journal. “It’s been very empowering to live within our means.” 

 Marcus Sturdivant Sr., a Charlotte, N.C., financial advisor, thinks stating a goal like “No Buy 2025” out loud is not a bad idea.

“Stating one's goals out loud and telling others increases accountability and follow-through,” he told ConsumerAffairs. “This is usually a 12-month challenge so give yourself some grace if you fall off the no-buy wagon and purchase something. Some latitude is important in any financial goal.”

Sturdivant says choosing an “accountability buddy,” someone else with the same goal, may improve chances for success. He also says there is no need for what may be unrealistric goals. He suggests a “No Buy February 2025 to start.

The table is set for Super Bowl LIX, when the Kansas City Chiefs meet the Philadelphia Eagles in their bid to become the first team to win three consecutive Super Bowl games.

Regardless of which team you’re backing, everyone will be a winner at the supermarket when they stock up for Super Bowl party supplies. An analysis by Datasembly, which tracks grocery prices in real-time, finds a typical party spread will cost much less than last year -- down by nearly 5%.

For example, the price of tortilla chips, a staple of any sports gathering, is down by one-third in the last 12 months, falling from $6.69 to $4.49 per bag. The price of chunky chili with beans is down over 20%, falling from $3.16 in 2024 to $2.51 this year.

The cost of a 16 oz. package of guacamole dip is down by 7% and the price of a frozen cheese pizza is 5% less.

In fact, most items on the list cost less than they did last year. A couple of exceptions include French onion dip, which costs 10% more this year, and the price of a mini-can six-pack of cola is up nearly 7%.

The complete menu, with price adjustments, is below:

The Consumer Financial Protection Bureau (CFPB) finds that renters are continuing to have a hard time paying their rent on time, and many are getting stuck with late fees averaging $85.

The agency issued two reports today looking at national rental payment data from September 2021 to November 2024. The percentage of renters who paid late fees in the last year reached 23% in February 2023.

While the rate declined to slightly less than 14% in November 2024, the CFPB’s analysis found that the median outstanding rental balance rose 60% between September 2021 and November 2024, suggesting increased financial distress among affected households.

Renters who pay late fees often pay multiple late fees in a year, and the average late fee is $85, up significantly from September 2021. Only about half of renters behind on their rent catch up in one month.

Rent is a major expense

For the 35% of American households that live in rental housing, rent is one of their largest expenses. Falling behind on rent payments often indicates financial stress and puts families at risk of eviction.

While the data show that fewer renters are incurring late fees and that about 50% of renters who do incur a fee are able to bounce back to on-time payments, the data also reveal continued financial struggles for many renters.

The CFPB found a significant portion of renters who incur an initial late fee struggle to recover. Just under 60% of those who incur any late fees experience two or more. More than 20% of renters with at least one late fee have five or more late fees in the last twelve months.

Late fees have also risen, along with the median outstanding rental balance, have increased since 2021. Late fees have risen steadily since September 2021 to $85 in November 2024. The reported outstanding rental balance has increased sharply from $2,000 in September 2021 to $3,200 in November 2024.

The CFPB’s reports also examine the incidence of non-sufficient funds fees and write-offs of unpaid amounts.

Your 401(k) account may have taken a hit this week after Chinese chipmaker  DeepSeek announced it could produce artificial intelligence chips more cheaply than Nvidia and other U.S. semiconductor firms.

Nvidia lost about 20% of its value in Monday’s trading and many other tech companies sold off as well. But Ed Yardeni, president of Yardeni Research, thinks the market reaction may be a little overdone.

In an interview with CNBC, Yardeni said DeepSeek’s progress may pose a problem for Nvidia, but other tech companies could stand to benefit since there may be a cheaper source of AI chips.

“I think what is happening in the AI market means that competition is increasing and competition is a good thing for users of AI,” Yardeni said.

After digesting the news, Chris Chung, founder of Solana swap platform Titan, said an important fact is being overlooked. DeepSeek isn’t doing anything revolutionary or new – it’s simply offering a cheaper version of what Nvidia can offer.

“In fact, Nvidia came out with a statement to say that DeepSeek was ‘leveraging widely-available models and compute’ – which is essentially another way of saying there’s nothing new to see here,” Chung said in an email to ConsumerAffairs. 

“So, while China has managed to cut down on the costs, I don’t see how it changes anything on a fundamental level. The U.S. remains the objective global leader in AI development.”

You may be asking, how does this all affect your portfolio? At this point, it may be hard to tell. That’s why it’s always a good idea to get advice from an objective and trusted financial advisor before making significant changes to your investments.

The IRS is ready to receive your 2024 federal tax returns and many taxpayers expecting refunds are busy getting their forms ready. Scammers hope they may be just a little too eager and will let down their guard.

Two of the big three tax scams involve impersonation. The scammers want the victim to believe the communication they receive is from the IRS.

An IRS impersonation scam gives the scammer a lot of leverage. The target may be more trusting if they think they are dealing with the tax agency. Or, they may be more fearful and vulnerable to threats.

These scams usually come in the form of phone calls that appear to come from an IRS number. Once on the line, the fake IRS agent may give a phony badge number to establish credibility before issuing threats.

The target may be told that their return is being held because an audit shows they owe back taxes. The rattled taxpayer may be so anxious to receive their refund that they will provide a prepaid debit card or wire transfer as requested, not questioning that both methods of payment are odd for the IRS, which normally accepts a check.

But the impersonation scam is not always threatening. The fake agent may say they are reviewing the target’s return and just need some additional information to speed up the process, getting the refund approved faster. That usually includes personal information, such as confirming a Social Security number.

Email phishing scams

Email phishing scams are another form of imposter scam. The message appears to be from the IRS but they include a link directing the target to a fake IRS website where they will be told to enter personal information.

The emails may also tell the target to call a number where a scammer, pretending to be an IRS agent, will attempt to extract the same information.

Finally, taxpayers should watch out for scams that will try to use tax season to steal a taxpayer’s identity. This is often done by setting up a phony tax preparation service.

If a scammer can steal a taxpayer’s identity, they can file a fake return using the victim’s information and claim a refund, before the victim has a chance to file. That’s another good reason to file your return early.

The U.S. Food Safety and Inspection Service is issuing a public health alert for frozen, fully cooked Wegmans breaded chicken breast nuggets that may be contaminated with extraneous material, specifically bone fragments. 

FSIS said it is issuing this public health alert to ensure that consumers are aware that this product should not be consumed. A recall was not requested because the product is no longer available for purchase. However, the recalled product may still be in consumers’ freezers.

The frozen, fully cooked breaded chicken breast nugget product was produced on August 26, 2024. Items included in the alert are:

• 46-oz. plastic packages containing “Wegmans FAMILY PACK FULLY COOKED Breaded Chicken Breast with Rib Meat” and a best if used by date 08 26 25, located on the back of the packaging next to the barcode in the lower right corner. 

• The product subject to the public health alert bears establishment number “P-33944” inside the USDA mark of inspection. This item was produced solely for Wegmans Food Markets and distributed to retail locations in Delaware, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Virginia, and Washington, D.C.

FSIS was notified of the issue after Wegmans received multiple consumer complaints of bone fragments in the frozen fully cooked breaded chicken breast nugget product.

There have been no confirmed reports of injury due to consumption of these products. Anyone concerned about an injury should contact a healthcare provider.                    

What to do

FSIS is concerned that some product may be in consumers’ freezers. Consumers who have purchased this product are urged not to consume it. This product should be thrown away or returned to the place of purchase. 

Consumers with questions about the public health alert can contact Wegmans Food Markets at 1-855-934-3663 Monday through Friday from 8:00 a.m. - 7:00 p.m. or Saturday and Sunday from 8:00 a.m. - 5:00 p.m. ET.

Consumers with food safety questions can call the toll-free USDA Meat and Poultry Hotline at 888-MPHotline (888-674-6854) or send a question via email to MPHotline@usda.gov. For consumers that need to report a problem with a meat, poultry, or egg product, the online Electronic Consumer Complaint Monitoring System can be accessed 24 hours a day at https://foodcomplaint.fsis.usda.gov/eCCF/.

Ford has issued a recall for 149,449 2021-2024 Bronco vehicles. The rear shock absorbers may corrode and fail, resulting in detachment of the external reservoir.

An external reservoir that detaches from a vehicle can create a road hazard, increasing the risk of a crash.

What to do

The remedy is currently under development. Interim letters notifying owners of the safety risk are expected to be mailed by February 3, 2025. A second notice will be sent once the remedy is available. Owners may contact Ford customer service at 1-866-436-7332. Ford's number for this recall is 25S01.

Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153) or go to nhtsa.gov.

To determine whether your vehicle is included in the recall, go to the NHTSA recall page and enter the license plate number or 17-digit VIN.

Much-needed rain is helping Southern California firefighters bring the remaining wildfires under control but mental health experts say the region may be a long way from getting back to normal emotionally.

Rabbi Jason Weiner, PhD, senior rabbi at Cedars-Sinai and director of the Spiritual Care Department, says psychic trauma may not just affect people who lost their homes but also those following the news on a daily basis.

Dr. Itai Danovitch, chair of the medical center’s Department of Psychiatry and Behavioral Neurosciences, said feeling distress and anxiety right now is normal. So is feeling numb or disconnected from emotions. Those aren’t normal feelings.

“There is no one-size-fits-all response to the challenges we’re facing, and adapting to stress can take time, but it helps to pinpoint specific sources of worry,” Danovitch said in a press release. 

“Is there nervousness about the safety of loved ones or a home? Is it the long-term impact on the community or uncertainty about air quality? Knowing this can help manage anxiety in a constructive way.”

Danovitch says the way to manage these anxieties is to maintain daily routines as much as possible. Stay connected to supportive people, get adequate rest and exercise, and practice relaxation or meditation exercises.  

“It also can help to make sure you’re getting information from trustworthy sources to help avoid unnecessary fear,” Danovitch said. “Plan ahead for potential future evacuations and manage exposure to news and social media.”

Possible PTSD

Mental health experts some fire survivors could development post-traumatic stress disorder. Sighs of that condition include:

• Negative thoughts

• Problems sleeping or concentrating

• Social withdrawal

• Intensified and persistent symptoms of despair that interfere with daily functioning 

“A therapist who specializes in trauma treatment, along with medications and participating in support groups and psychotherapy, can be beneficial,” Danovitch said. “Some people may develop PTSD and others won't, but all emotional responses deserve care and attention.”

“Survivor’s guilt” may also affect some Los Angeles residents whose homes were in the path of the fires but somehow did not burn. Cedars-Sinai Cancer Center Chaplain Carrie Kohler this is often manifested by feelings of helplessness. She said many people deal with these feelings by volunteering for relief efforts.

Those who live miles away may also feel distraught. Danovitch said that’s human nature—and it may be especially true for people who once lived in Los Angeles, because the fires conjure nostalgia as well as loss.

“Former Angelenos often have deep relationships, memories and connections to the area,” he said. “Seeing those threatened can heighten feelings of longing and attachment.”

Younger Americans earning more than $100,000 a year have sticky fingers and have no problem finding reasons to cheat a little every now and then, a recent survey reveals.

After all, they're more likely to have several credit cards and are adept at manipulating the cyberworld, so it's easy to claim a package never showed up. Perhaps more significantly, Gen Z and Millennials are inclined to justify their larcenies as some sort of public service. 

Many say they feel no regret, and 46% of them say they see their illegal actions as consumer advocacy, the survey by digital fraud prevention company Socure found. 

This kind of theft is known as "first-party fraud" or "friendly fraud" and many younger, more affluent consumers not only admit to it but use social media to brag about their exploits and pass on tips to friends. Socure's findings indicate that this type of fraud costs U.S. financial institutions and merchants over $100 billion annually.

Some of the most common examples:

1. "Friendly Fraud" or "Chargeback Fraud": This is when a customer makes a legitimate purchase online but later disputes the charge with their bank or credit card provider, falsely claiming the transaction was unauthorized. This tactic can be seen more often with wealthier individuals who may be less concerned about the financial consequences and may use the chargeback system to get products for free.

2. Digital Piracy and Subscriptions: Wealthier, younger consumers are also more likely to engage in piracy or "streaming theft," where they may access subscription-based services like music, video streaming platforms, or even software without paying. This can involve bypassing paywalls, using cracked or illegal software, or taking advantage of free trial loopholes.

3. Use of Stolen Payment Information: Younger, tech-savvy consumers may also use stolen payment information, such as credit card details, to make fraudulent online purchases. This is more common with individuals who understand how to evade detection through VPNs or by using disposable or stolen payment methods.

4. Online Reselling: Some wealthy young people may buy luxury items through legal means and then resell them at a profit. While this isn't necessarily illegal, it can blur the lines with practices like "scalping" or reselling items at much higher prices than their original value. The rise of "resale" culture online, especially in markets like sneaker reselling, is an example of this.

5. Social Media and Peer Influence: Wealthy younger consumers may be influenced by social media and peer groups that glamorize expensive purchases. This can sometimes lead to dishonest behavior, including theft, to "keep up" with online trends or display their social status.

6. Anonymity and Lack of Consequences: Younger consumers, especially those who are highly connected online, may take advantage of anonymity or the lack of immediate consequences that can come with digital theft. This might include engaging in cyberbullying, hacking, or making unauthorized purchases with stolen credentials because they perceive online theft to have fewer risks than traditional crimes.

Not much risk

The kind of fraud is basically the flip side of retail theft from brick-and-mortar stores, which gets a lot more attention from the press and from law enforcement. 

Poorer young consumers can wind up in jail if they get caught heisting a pair of sneakers but a college grad armed witih a Visa card might, at most, wind up admitting they really did get those sneakers they claimed went astray and have the charge put back on their card.

No one really worries much about it, except the online merchants and credit card companies and they're not exactly seen as sympathetic figures. 

Critics point out that it's not a giant step from feeling that it's OK to rip off Amazon or American Express, to thinking it's OK to shoot an insurance executive in the back, as occurred recently. You might get by with it but, as the saying has it, it's not your father's consumer advocacy.  

Hyundai and Kia models have acquired a reputation for being easy to steal, thanks to the "Kia Challenge," which enticed social media mavens to try their hand at grand larceny. But in fact, it's the No. 1-selling vehicle in the U.S. that is the most-often stolen.

Yes, we're talking about the Ford F-150 pickup truck. It's been the top-selling truck in the country for more than 47 years. And Ford cars and trucks have outsold every other brand for over 40 years, so with all those Fords out there, it's not surprising a few of them get nicked every year. 

How many? Well, it works out to 1,815 thefts per 100,000 F-150s. The Hyundai Elantra is second with 1,296. Another hefty pickup -- the Chevrolet Silverado -- is third at 1,207, according to Insurify.  

Hyundai-Kia models are still in the running but thanks to a quick fix of the feature that made the cars easy to steal, they now are more apt to stay put. If you look just at brands and not individual models, the Koreans still top the list.

How to prevent theft

Unfortunately, you can't completely prevent theft but there are steps you can take to reduce your risk. Here are some suggestions, admitedly pretty obvious ones, from the National Insurance Crime Bureau:

• Park in well-lit areas.
• Close and lock all windows and doors when you park.
• Hide valuables out of sight, such as in the glove box or trunk.
• Do not leave your keys in your vehicle.
• Do not leave the area while your vehicle is running.
• If your vehicle is stolen, call law enforcement and your insurer immediately because reporting a vehicle as soon as possible after it is stolen increases the chance of recovery.

When reporting your car stolen, you should be ready to provide the following information:

• The make/model of the vehicle, color, license plate number, as well as the vehicle’s VIN number.  (The VIN can be found on your insurance policy documentation or on the Proof of Insurance card.)
• The process for filing a stolen vehicle report to your insurer could be over the phone, online, or even directly to your insurance agent.

There’s growing evidence that Americans are struggling with their credit card debt, which has grown significantly since the COVID-19 pandemic. A new report from the Federal Reserve Bank of Philadelphia found credit-card balances in the third quarter rose to their highest levels since 2012. The report showed more consumers are making just the minimum amount each month.

During the pandemic, consumers made significant progress in paying down credit card balances. However, as inflation accelerated, many consumers used credit cards to keep their heads above water.

“Credit card performance is showing signs of consumer stress,” the report’s authors wrote. “The share of active credit card accounts making just the minimum payment hit a 12-year high. The share of revolving card balances to total card balances is continuing its rise since the end of the pandemic. The share of delinquent balances continues to worsen year over year after surpassing pre-pandemic levels in third quarter 2023.”

Mark Damsgaard, vice president of marketing at Vancis Capital, says inflation may have cooled since its peak in 2022, but its lingering effects have left many households stretched thin, particularly when it comes to essentials like groceries, utilities, and housing.

More reliant on credit

“Also, many lower- and middle-income households aren’t able to keep up with the rising costs of living, so they’re more reliant on credit,” Damsgaard told ConsumerAffairs. “And with layoffs in key industries and a potential recession, income has been unstable, so it’s harder to stay current on payments.”

Utility costs alone have emerged as a major burden for households. A December report from doxo showed the average U.S. household now spends $362 per month, marking a 3% increase from the previous year. This analysis, part of doxoINSIGHTS' U.S. Utilities Market Size and Household Spend Report for 2024, found that Americans collectively spend $451 billion a year on utilities, underscoring the growing financial burden on households across the nation.

In response to weaker credit performance, the Fed said banks are adopting more conservative lending standards. It said tighter bank underwriting is resulting in a measurable decline in new card origination commitments and higher origination credit quality with new account-holders possessing higher credit scores.