Posts Tagged With ‘ Services ’

How do you pick out a bank? It’s more difficult than it seems. Many people choose a branch near them. But, banks can have practices that are detrimental to consumers who want to spend money wisely. The Federal Deposit Insurance Corporation or FDIC has downgraded Transportation Alliance Bank or TAB Bank to “needs to improve,” a low rating that few banks get. The FDIC found that the bank committed unfair or deceptive practices that “impacted a large number of consumers over an extended period of time.” Through a “rent-a-bank” partnership with EasyPay Finance, the bank helped EasyPay... Continue Reading

I’m now a T-Mobile customer. Darn. I switched because I was upset that Verizon wouldn’t give me a deal on a new iPhone and I wanted to be in a family plan with my grandson from Spain who’s going to college in Massachusetts. T-Mobile announced last week that its customer records have been hacked again. This time, it affects about 37 million accounts. The disclosure came in a regulatory filing with the Securities and Exchange Commission. The breach was discovered two weeks before the announcement. T-Mobile, one of the big three cell phone companies, said “a bad actor” obtained “limited... Continue Reading

I’ve written about it before, but it’s worth highlighting again. A Consumer Reports evaluation of peer-to-peer or P2P payment apps found that users could lose money to fraud or scams and face privacy risks because app providers may share their personal information widely and it’s difficult for users to delete their data. More than half of Americans, 64 percent, use a P2P payment app for payments to and from individuals, including four out of five, 81 percent, of the 18 to 29 age group, a Consumer Reports survey found. Two out of five Americans, 40 percent, say they use P2P payment services... Continue Reading

One thing that financial writers recommend when you’re having money problems is to review your subscriptions. Sometimes subscriptions that you aren’t using anymore keep renewing or you didn’t realize you had signed up for one. “Negative option” programs include subscription services that automatically renew unless the consumer cancels, and trial marketing programs that charge a reduced fee for an initial period and then automatically begin charging a higher fee. “Consumers shouldn’t have to jump through hoops to cancel subscriptions they don’t want, and they shouldn’t have to... Continue Reading

Have you been frustrated because you’ve wanted to repair your electronics or appliances or find a less expensive place for repairs to be made other than through the manufacturer? Eighty-four percent of Americans said they agreed with a policy to require manufacturers to make repair information and parts available either to independent repair professionals or to product owners, according to a 2021 survey by Consumer Reports. Consumer groups have been battling for decades for the right to repair. Two positive actions have occurred recently on this issue: New York New York became the first state... Continue Reading

My best wishes to you and your loved ones for 2023. On New Years eve, I wrote about the top consumer and personal finance stories of 2022. Inflation and higher interest rates topped the list, and I predict that those two issues will continue to confront consumers throughout the new year. My recommendations include: be sure you have an adequate emergency fund; make a budget or review yours to make sure that your expenses aren’t creeping up; cancel subscriptions you don’t use; increase your retirement plan contributions, if you can; keep steady with your investments even if the market continues... Continue Reading

It’s time for my annual article on the top consumer and personal finance articles of the year. As usual, there aren’t many reporters covering this important topic. However, in addition to the best news, health, political, and science stories of the year, there’s a new category: the top climate change stories. Of course, climate change also will be one of my top picks. 1. Inflation and higher interest rates. Consumers were hit hard with inflation in 2021, with a 40-year high tough to accommodate in most budgets. The Federal Reserve reacted in 2022 with four .075-percentage-point interest... Continue Reading

Wells Fargo is at it again. It shows why consumers should be skeptical about trusting big banks. The repeat offender has agreed to a settlement that requires it to return more than $2 billion to consumers and pay a $1.7 billion civil penalty for legal violations across several of its largest product lines, the Consumer Financial Protection Bureau or CFPB said Tuesday. Consumers were illegally assessed fees and interest charges on auto and mortgage loans, had their cars wrongly repossessed, and had payments to auto and mortgage loans misapplied by the bank, the CFPB said in a statement. Wells... Continue Reading

On Tuesday, my new Apple desktop computer was delivered. I signed up for Best Buy’s Totaltech program, paying $200, because a tech would come to my house and install the computer. My iMac desktop is heavy and I didn’t want to lug it to Best Buy and also have to get a new heavy computer back home, too. It was supposed to be a great day. The tech arrived wearing fragrance, which bothers my allergies. He said he didn’t get the message that I asked for a fragrance-free person to do the installation. The technician began transferring data from my old computer to the new one. It ran for about... Continue Reading

Comcast is one of the companies that I dislike the most. I’m using polite language here because it’s the best thing for bloggers to do. I’ve had poor customer service many, many times, and one customer service manager used abusive language, calling me derogatory names. Another thing that irks me about Comcast is mandatory fees, such as $20 a month for sports, for items that I don’t want or need. I wish there were better alternatives in my area for internet service and competitive prices. In an internet service provider study, Consumer Reports collected data from monthly internet bills... Continue Reading