MoneyLion Charged Military Members Excessive Interest, Feds Charge

The Consumer Financial Protection Bureau (CFPB) is suing MoneyLion Technologies, an online lender, and 38 of its subsidiaries, alleging that it imposed illegal and excessive charges on armed service members and their dependents. “MoneyLion targeted military families by illegally extracting fees and making it difficult to cancel monthly subscriptions,” said CFPB Director Rohit Chopra. “Companies […]

Regions Bank Penalized for Surprise Overdraft Fees

Regions Bank is being ordered to return at least $141 million to customers harmed by its surprise overdraft fees. It will have to pay another $50 million into the Consumer Financial Protection Bureau’s victims relief fund. The CFPB said that from August 2018 through July 2021, Regions charged customers surprise overdraft fees on certain ATM […]

For-Profit Stratford University Closing

Another for-profit university is closing because of accreditation issues. Stratford University is closing its campuses in Virginia, Maryland and India at the end of the term, according to an email sent to students last Friday. Forty-three other schools around the country are also losing their accreditation. The school said the U.S. Department of Education decertified […]

Pedestrian, Bicycle Deaths Hit New Highs

Traffic fatalities inched higher last year but pedestrian and bicycle deaths rose by historic amounts. In 2021, pedestrians killed jumped 13% to 7,342, the most since 1981. The number of people on bicycles who were killed rose 5% to 985, the most since at least 1980, according to the National Highway Traffic Safety Administration (NHTSA). […]

Genetic Testing: Promise or Pitfall?

At-home genetic testing is all the rage, but should you change your life based on the results? “You have to know the past to understand the present,” Carl Sagan famously said. Makes you wonder what the astrophysicist would think about today’s obsession with knowing where we came from — not just in astrophysics terms, or […]

Forced Arbitration Clauses Must Go, Consumer Groups Tell Feds

Over 100 consumer, civil rights, and labor groups are demanding action on the issue of forced arbitration clauses — the sneaky language commonly buried in financial service contracts to block customers from suing when they are cheated or defrauded by big banks. During the Trump administration, Congress blocked a rule issued by the Consumer Financial […]

Buy Now, Pay Later Plans Grow, So Do Late Fees

Buy Now, Pay Later is sometimes described as credit without the credit card.\It normally does not charge interest but late fees can add up fast and a study finds that late fees are becoming more common.

Want to do Your Banking at Walmart?

It may soon be possible to do your banking at Walmart. The mega retail chain is working towards offering checking accounts and other financial services to its employees and customers.

Four Red Flags That Signal a Scam

Trying to warn consumers about every scam is like playing Whack-A-Mole. No sooner that you spread the word about one scam two or three others pop up. Scammers are nothing if not creative. Here are four red flags that are common to most scams.

California Sues Amazon for Anticompetitive Practices

California has become the second state to sue Amazon, charging it with anticompetitive practices, saying it creates creating artificial pricing floors by barring sellers from offering their goods cheaper on other platforms.

Inflation Fighting: Good Enough is Pretty Great

Sir Thomas Malory was writing back in the 1400s, long before brands emerged and took over everyone’s consciousness. But he was onto something with his “enough is as good as a feast” quote. It was true then and is still true today.

Kids Dying Unnecessarily in Cars

Highway deaths have increased alarmingly in recent years and children are often the victims. In 2020, 607 children under age 13 were killed in motor vehicle crashes, according to Injury Facts.

Fighting Inflation: Frugality Fundamentals

Maybe you’ll be rich someday. But let’s face it, you’re not there yet so here are some fundamental frugalities that can help you fight inflation now – and after you’re rich, for that matter.

Amazon, NY Crack Down on License Plate Blockers

Amazon says it will stop selling license plate blockers in New York City. It’s part of a crackdown by Mayor Eric Adams and the NYPD on “ghost cars” that evade red-light and toll cameras.

Pedestrian Autobraking Doesn’t Do So Well at Night

It’s hard to see in the dark, and that turns out to be true not only for people but also for emergency braking systems found on many newer cars, according to the Insurance Institute for Highway Safety (IIHS). The non-profit research group recently tested 23 midsize cars, SUVs and pickups and the results, while enlightening, were […]