consumer protection

4 Modern Conveniences That Can Put Your Money at Risk

During National Consumer Protection Week, government agencies and nonprofits are offering tips to protect our money and our identities. And we're especially vulnerable in our everyday transactions -- whether it's tapping the ATM or logging into the Internet from our favorite coffee shop.

You're Losing Your Right to Sue Big Companies, One TOS at a Time

To celebrate National Consumer Protection Week, we recently highlighted a few quick actions that consumers can take to protect themselves. But the sad fact is that the most potent consumer protection tool -- the class-action lawsuit -- may soon be all but extinct.

CFPB Unveils New Federal Rules to Curb Risky Mortgages

The Consumer Financial Protection Bureau is laying out the nation's first rules aimed at ensuring that mortgage borrowers can afford the loans they take out. Among the new regulations are bans on the risky "interest-only" and "no documentation" loans that helped inflate the housing bubble.

Big Retailers Fined for Pushing Phony Bamboo Fabrics

Macy's, Amazon and Sears have all agreed to fork over hundreds of thousands of dollars each in fines after the Federal Trade Commission busted them for passing off Rayon fabrics as genuine, environmentally friendly bamboo.

FTC Warns Hotel Chains to Stop Hidden 'Resort Fees,' 'Drip Pricing'

Frequent travelers know that extra airline fees have become the norm. But resorts and hotels make it even harder to figure out what your final bill is going to add up to. Now, the Federal Trade Commission's Bureau of Consumer Protection is fighting back on our behalf.

CFPB Complaint Site Takes on Credit Report Issues, Too

The Consumer Financial Protection Bureau's complaint website already gave Americans a way to seek redress over problems with credit cards, mortgages, bank accounts, auto or personal loans, even student loans. Now, it's also ready to help us deal with credit reporting agencies.

Prepaid Cards Are 'Risky' and Loaded with Fees, Pew Study Finds

Reloadable prepaid cards, which work like debit cards without a bank account, have been growing in popularity. But prepaid cards are riskier than you'd realize, and most come with between 7 and 15 fees - many of which aren't disclosed - reveals a new study from a nonpartisan think tank.

Court Upholds Rules to Stop 'Deceptive' Airfare Advertising

The government can regulate airlines' "unfair and deceptive" advertising practices by requiring them to show consumers a total ticket price that includes taxes and fees in their ads, the U.S. Court of Appeals said Tuesday, rejecting an industry challenge.

Stay-At-Home Mom Fights New Credit Card Rule

The Card Act was passed in 2009 to protect consumers from unfair and deceptive credit card practices. But some stay-at-home parents complain that one part of the law has made it harder for them to get credit cards.

America's 10 Worst States for Fraud

When times are hard, fraud often gets worse. Americans are under great financial pressure, and there is no shortage of criminals waiting to take advantage of it. 24/7 Wall St. examined the 10 states that had the most per-capita fraud complaints.

Consumer Agency Softens Credit Card Fee Limit

The Obama administration's consumer financial watchdog agency is backing off a plan to limit big upfront fees on credit cards. The Consumer Financial Protection Bureau acknowledged Thursday that its proposal would increase costs for cardholders and allow banks to charge more in fees.

Banks Made Less on Overdraft Fees Last Year

The average fee for overdrafting your bank account rose again last year, but evidently, more Americans are doing a better of job managing their checking accounts, because the amount paid in overdraft fees dropped by $1.5 billion in 2011, after a $4 billion drop in 2010.

How a Debit Card Fee Cut Backfired on Merchants

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?

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?

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 to Refund $25M to Buyers of 'Toning Shoes'

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.

FCC Takes Aim at Scammers Who 'Cram' Phone Bills

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 For Swiping My Card?'

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?

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

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.

How Debt-Settlement Companies Skirt New FTC Rules

The Federal Trade Commission's telemarketing rules aim to protect consumers from debt-settlement companies that charge upfront fees or overpromise results. But some companies already have found ways to get around those rules, consumer groups warn.

Consumers May Get Hit With Higher Debit Card Fees

New rules proposed by the Fed for debit card transactions may mean consumers end up paying more to use their cards, while big retailers save billions. The rules would sharply limit the transaction fees sellers pay, so banks could recoup that money from buyers.