Auto insurers levy something akin to a home renters’ surcharge on policy-holders, and that’s unfair, the Consumer Federation of America alleged on Monday. The interest group says it secret-shopped for typical driver policies in 10 U.S. cities and found renter rates averaged 7% higher – costing those consumers $112 annually [Keep reading]
Even under normal circumstances, racial discrimination can be hard to spot. Identifying discrimination in car purchases and loans is particularly challenging, however – auto dealers don’t have to log the ethnicity of borrowers, and car loan terms are often bargained as part of a complex transaction. Still, the Consumer Financial [Keep reading]
Breaking news: Big event ticket sales are a broken marketplace that hurts both consumers and entertainers. Just kidding, everybody knows that. It’s remarkable that both the industry and regulators remain seemingly helpless to fix the problem. With Bruce Springsteen songs still hanging in the air above Madison Square Garden, New York [Keep reading]
Half of Americans pay for help doing their taxes, but most wish tax preparers had better credentials, a new survey has found. Only four states currently have rules surrounding who can charge a fee to do someone else’s taxes — about 1.2 million tax preparers do so annually, according to [Keep reading]
I remember reading research many years ago explaining that it’s easier for agencies to raise tolls once drivers convert to EZ-Pass or another electronic tolling method. Why? Because people don’t notice the increases. Blissfully driving through toll booths without stopping, drivers feel no financial pain as they do. But also, [Keep reading]
Using plastic that automatically deducts payments from a checking account has apparently fallen out of favor with the kids. Debit card usage is at a seven-year low among young adults, according to a new report published by Mercator Advisory Group. Debit card usage is flat for most of the general [Keep reading]
“Sell everything.” By now, you’ve probably seen the headlines generated by a client note sent out by the Royal Bank of Scotland. It predicts a “cataclysmic year ahead,” and urges clients to sell everything except high-quality bonds. And if that wasn’t scary enough, the note warns: “In a crowded hall, exit doors [Keep reading]
Credit security freezes are often held up as the gold standard to protect consumers fromidentity theft. Much more restrictive than traditional fraud alerts, credit freezes prevent anyone from opening up new accounts using a consumer’s Social Security number — including the rightful owner of the number. To get credit, a [Keep reading]
Is there a way to beat gotcha artists at their own game? To make money off those who make money by tricking consumers? Two brothers in Tennessee may have figured out how to do just that. Their proposition is simple. Feel like you’ve been mistreated by a company and you’ve [Keep reading]
A deal is a deal. Unless that deal is made on Stubhub, it would appear. Here’s a cautionary tale for anyone who dabbled in online ticket event sales, brought to light earlier today by a website named TheLeadSports.com. Click on that link for all the details, they deserve the traffic, [Keep reading]
Bob Sullivan