Consumer protection Articles - DailyFinance.com

How Durbin's Debit Card Fee Cut Backfired on Small Merchants

4:15PM 12/08/2011

Washington's efforts at financial reform keep having strange and unintended consequences. In response to a law that was meant to lower excessive debit card transaction fees on merchants, Visa and Mastercard found a way to raise the fees on a host of small businesses.

Should Bank Account Numbers Be Portable?

8:20AM 11/02/2011

By Jonathan Berr, The Motley Fool

Consumer activists are pushing bank regulators to allow people to take their account numbers with them when they switch banks, just like cellphone numbers. Such account number portability might encourage banks to treat customers better because it would make it easier for them to leave.

Bank Fees: What's the Breaking Point for Customers?

2:03PM 10/19/2011

By Catherine New

JP Morgan Chase, Bank of America, Wells Fargo & Co, Banking

Bank of America learned pretty quickly last month that customers think $5 a month is too much to pay to use a debit card. But is there such a thing as a reasonable bank fee? One in three people say they're prepared to walk away from their financial institution to avoid a fee, a new survey reveals.

Reebok Must Refund $25 Million to Buyers of Bogus 'Toning Shoes'

1:40PM 9/28/2011

By Catherine New

Company News, Consumer Ally

Reebok's promise that its EasyTone and RunTone shoes could shape your legs and tone your butt sounded too good to be true. That's because they were, said the FTC Wednesday, when it ordered the footwear maker to give $25 million in partial refunds to customers who bought the products based on the inflated claims.

Fraud! FCC Takes Aim at the Scammers Secretly Padding Your Phone Bill

5:15PM 7/15/2011

By Bruce Watson

Technology, Economy, Economizer, Family Money, Personal Finance, Saving Money, Features

Earlier this week, the FCC proposed new rules designed to crack down on "phone cramming," a widespread, illegal practice that robs billions of dollars from phone users. And with 300 million third-party charges hidden in phone bills every year, odds are, you've been a victim.

Ask the Expert: 'Do I Pay Extra When I Swipe My Card?'

8:00AM 7/13/2011

By Regina Lewis

Credit, Video, Small Business, Ask an Expert, Banking, Personal Finance

We got lots of reaction to our article about how changes in debit and credit card swipe fees may affect you. Swipe fees are the charges retailers pay when they allow you to use plastic. One question kept coming up: "Do I pay those fees when I use my debit card?" Regina Lewis explains.

Has the BBB Been Selling 'A' Ratings?

1:00PM 7/06/2011

By Regina Lewis

Video, Consumer Ally

The Better Business Bureau's slogan is "Start with Trust" -- but not so fast. It seems the BBB has inherent conflicts of interest, and questions have been raised about what it takes to "earn" an A from the BBB. Can companies pay for good ratings -- or worse yet, do they have to?

Bank Overdraft Fees Still Plague American Consumers

11:00AM 5/13/2011

By Sheryl Nance-Nash

Economy, Bank of America, Citigroup, Wells Fargo & Co, Credit, Currency

Last year, the government changed the rules on debit card overdrafts, requiring banks to get customers' permission before allowing transactions that would lead to penalty fees. But despite the new rules, overdraft fees continue to be an expensive pain in the neck for millions of Americans.

National Consumer Protection Week Kicks Off

9:00AM 3/06/2011

By Jorgen Wouters

Consumer Ally, Crime, Family Money

This is the 13th annual National Consumer Protection Week, a coordinated campaign designed to highlight the importance of information and the of available online resources, the Federal Trade Commission announced. As recent Consumer Ally stories shows, scams targeting seniors, homeowners,...

Customer Bill of Rights from Expert Marsha Collier

10:00AM 1/28/2011

By Lan N. Nguyen

Retail

Consumer confidence was up in January, according to The Conference Board. It's Consumer Confidence Index climbed to 60.6, up from 53.3 in December. Consumer spending is also rising and all this may translate into a better 2011 for many businesses. In all this good news, customer service expert...