CHASE, CITIBANK CUSTOMERS SUNK BY "FLOATING" DUE DATE
Banks and credit card companies are legendary in their ability to use "gotcha" tricks to wring money out of unsuspecting customers, and one of the nastiest weapons in their arsenal is the "floating due date." By switching the due date of a payment by as much as five or six days without informing customers, banks can levy high interest rate hikes, overlimit fees, and penalties to pad their profits. Joseph Enoch CHASE, CITIBANK CUSTOMERS SUNK BY "FLOATING" DUE DATE and found Chase and Citibank were the chief culprits of the scam.
DIRECTOR TAKES AIM AT BANK FEES IN "OVERDRAWN!"
When Karney Hatch was stung by multiple overdraft charges for spending more money than he had in his credit card account thanks to his bank's "courtesy overdraft protection," he decided to do something about it. With the help of a video camera and a few friends, Hatch created "Overdrawn!," a short documentary exploring how banks make money off overdraft protection fees, whether the consumer wants it or not. As DIRECTOR TAKES AIM AT BANK FEES IN "OVERDRAWN!" Hatch interviewed consumers who had suffered similar circumstances, as well as consumer advocates such as Ralph Nader, and found ways to deal with the charges in small claims court.
More consumer protection news...
• Report: FCC Failing To Resolve Consumer Complaints Agency spars with investigators over allegations of poor follow-through.
• Consumer Activists Mourn Spitzer's Downfall As attorney general, Spitzer fought hard for consumer interests.
• Unauthorized Charge? How To Fight It Dialing for dollars doesn't work; disputing the charge often does.
GAS PRICES HIT FOUR RECORD HIGHS IN FOUR DAYS
While economists continue to claim that gas prices will decline by spring, automotive maven Joe Benton performed GAS PRICES HIT FOUR RECORD HIGHS IN FOUR DAYS of gas costs around the nation and found that California stations were seeing prices of up to $3.50 a gallon, and $4 in some areas, while New Jersey had the lowest gas price levels statewide. And the overall nationwide prices just keep climbing...
This week's automotive news...
• Urgent Fire Hazard Prompts Massive Pontiac, Buick Recall Cars can catch fire even when parked and idle, automaker warns. Don't park them in your garage!
• Feds Investigate Fire Hazard in Mitsubishi Galant Automatic locks can trap passengers in burning vehicle.
• New Study: Stronger SUV Roofs Save Lives Insurance industry study refutes automakers' claims.
• GAS PRICES HIT FOUR RECORD HIGHS IN FOUR DAYS New records being set daily; more increases ahead, observers warn.
• Ford Loses $82 Million Rollover Verdict Appeal California woman paralyzed in Explorer rollover accident.
• Hate Groups End Ford Boycott Gay bashers opposed Ford's equal treatment of gays.
• NHTSA Investigates Saturn Sky, Pontiac Solstice Braking Probe could eventually lead to recall.
ONLINE FURNITURE PURCHASE GOES SOUTH, SNAGS CONSUMER REPORTER
Even smart, savvy consumer reporters can get caught in scams or ripoffs at times. Just ask ConsumerAffairs.com's Lisa Wade McCormick, whose online purchase of a loft bed for her son led to six months of unreturned phone calls and emails, the involvement of a state attorney general, the temporary loss of $1600, and the news that the vendor was ONLINE FURNITURE PURCHASE GOES SOUTH, SNAGS CONSUMER REPORTER with many orders unfulfilled.
More scams and outrages...
• California Sues H&R; Block Marketing of refund anticipation loans challenged.
• Older Homeowners Warned about Reverse Mortgages But it may still be a better option than foreclosure.
• Feds Settle with BSG/ZPDI/Billing Concepts FTC trying to rein in massive 'cramming' operations.
• Foreclosure Filings Up 57 Percent In February Credit crunch tightens; Highest foreclosure rate in Nevada.
• Japanese Investigate iPod Fires Lithium-ion battery tentatively blamed.
• New $5 Bill Debuts Today Feds seek to reduce currency fraud.
• Cruise Lines Agree To Refund $21 Million In Fuel Surcharges Florida goes after cruise lines for retroactive charges.
• Airlines Hike Baggage Fees, Don't Promise Better Service 'At the end of the day, it's a price increase,' airline executive admits.
• Look Out for Prison Phone Scam Inmates use idle time to dial for dollars.
• 'Girls Gone Wild' Producer Finishes Jail Term Joe Francis gets sprung just in time for Spring Break.
• FBI Reportedly Probing Countrywide On Fraud Charges Nation's largest mortgage lender may face securities fra
herbal supplement pills
Kicking off the recall list this week is a particularly strange story of the discovery of herbal supplement pills inside a box of Gorton's Crispy Battered Fish Fillets. Although Gorton's called the incident "isolated," it has nonetheless recalled 1,000 packages of the product, all distributed outside the company's home territory of New England.
Recalls this week...
• Battat Recalls More Magnabild Sets
• Play Wonder Toy Sundae Sets Sold at Target
• X Force, Super Famous Toy Cars, Motorcycles, Airplanes
• Ellaroo Recalls Infant Sling Carriers
• Nordstrom 'Urgent Gear' Sweatshirts
• JCPenney Recalls Cooks Deep Fryers
pose as someone else
It takes almost no effort to set up a profile for yourself on social networking sites like MySpace or Facebook--and it's just as easy to pose as someone else when you're doing it, sending messages in their name, posting doctored photos, defaming the victim's name and linking them to false information that could harm their lives. As David Wood reports, demanding that the companies be more active in verifying the age of members isn't easy at all--the more responsibility they assume for the content on their sites, the more liable to lawsuits they become--leaving no simple answers to the problem.
More technology and Internet news...
• Craiglist Cleared in Biased-Postings Suit Latest in a series of rulings protecting free speech on the Web
• Net Neutrality Supporters TestifyHouse Committee hears testimony on Internet access.
• Phishing Scammers Turn To Text Messages Same scam, different medium.
• HD DVD Owners, Retailers Mull their Options Blu-ray's victory leaves Toshiba loyalists in the lurch.
• Implanted Devices May Pose Security Risk Could hackers attack defibrillators, pacemakers?
ANEURYSMS: SCARY, BUT TREATABLE
Aneurysms can be a particularly frightening ailment, with many cases resulting in the death of the victim even before they reach the hospital. But as Fred Cicetti reports in this week's edition of "The Healthy Geezer," combinations of early diagnosis and constantly-improving treatments ANEURYSMS: SCARY, BUT TREATABLE leading to some forms of aneurysms before they get serious.
This week's health news...
• Toddlers Affected Most By Secondhand Smoke at Home Kids set up for heart disease before they're old enough to walk.
• Drugs In The Drinking Water: Now What? Consumers concerned about reports of prescription drugs in the water.
• Dangers of Denture Cleansers FDA warns of harm from allergic reactions, miseuse.
• Daily Glass of Wine in Middle Age Can Lower Cardiac Risk A nip a day keeps heart trouble away?
OXFORD ENGLISH DICTIONARY REVISES ITSELF TO KEEP PACE WITH THE TIMES
Depending on how you look at it, the English language is a continually evolving--or devolving--state of affairs, and the lexicographers who publish the venerable Oxford English Dictionary (OED) aren't immune to the changes. The University Press announced that they would be OXFORD ENGLISH DICTIONARY REVISES ITSELF TO KEEP PACE WITH THE TIMES for adding quarterly updates to the lexicon, ensuring the most up-to-date definitions for words ranging from "eco-sensitive," to "ballerino," to the ever-adaptable "f$@k."
OFF THE MARKET
The Indian state of Goa, a tourist's paradise on the Arabian Sea, continues to attract record crowds despite the recent murder of British tourist Scarlett Keeling. Waterfront property in Goa has been one of the last great bargains in real estate and more than 400 non-Indians have bought land there in recent years. But the Goa government has put an end to the incipient land rush, barring any further sales of land to foreign nationals, according to ConsumerAffairs.India.com.
How's that? Yes, you read that right -- ConsumerAffairs.India.com. The finishing touches are still being applied but in a few weeks, the 1.1 billion consumers in India will have a new consumer news and information site. More about that next week.
