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February 2014

For-profit college chain ITT sued by federal agency for predatory lending

The Consumer Financial Protection Bureau filed a lawsuit Wednesday against ITT Educational Services Inc., accusing the for-profit college chain of predatory student lending. The bureau alleges that ITT exploited its students and pushed them into high-cost private student loans that were likely to end in default. The bureau is seeking... Read more →

18 Wall Street firms agree to stop cooperating with analysts’ surveys

New York State Attorney General Eric T. Schneiderman announced interim agreements Wednesday with large investment firms to stop their practice of cooperating with analyst surveys administered by some technologically sophisticated clients at the expense of other consumers. Schneiderman said the practice that can put the market at an unfair disadvantage.... Read more →

Baby boomer bloggers taking a look at retirement, health, relaxation, and light bulbs

Laura Lee Carter of the Midlife Crisis Queen is the host for this week’s Best of Boomer Blogs #346. Although I went to Florida and got some rays of sunshine, it’s mostly winter, winter, winter now that I’m back home and in much of the rest of the country as... Read more →

Recall of the Week: MAT Industries air compressors due to shock hazard

MAT Industries LLC is recalling about 100,000 HDX and Powermate two-gallon air compressors in the United States and 7,000 in Canada. The terminals of the pressure switch can come into contact with the motor housing and electrify the air compressors, posing a shock hazard to consumers, the company and U.S.... Read more →

Consumers exposed to possible cancer risks in many soft drinks, consumer group says

In Consumer Reports’ recent tests of sodas and other soft drinks, 4-methylimidazole, a potentially-carcinogenic chemical byproduct of the production of certain types of caramel color, was found in the samples that listed caramel color as an ingredient. Twelve brands of sodas and soft drinks from five manufacturers – including Coca-Cola,... Read more →

Confused about new light bulbs? FTC takes action against LED company, offers tips on how to buy

I don't know about you, but I'm really frustrated by shopping for the new light bulbs. I haven't been satisfied with the performance of the compact fluorescents that I've purchased and worry about cleaning up the mercury if they break. Fortunately, I don't have any carpet, so I wouldn't have... Read more →

You or a family member struggling with college or other debt? Tell agency about it

Last year, more than 7 million Americans were in default on a student loan. When things don’t go according to plan, many student loan borrowers find themselves on the receiving end of a call from a debt collector and have a difficult time understanding their options when trying to find... Read more →

Best of Boomer Blogs Presidents’ Day edition

Amy Blitchok of Modern Senior is the host for this week’s Best of Boomer Blogs #345. This week’s boomer blog roundup published on Presidents’ Day, which is actually Washington’s Birthday, is a regular cornucopia of news, feature articles, and personal blogs. It includes: A consumer report that says AT&T and... Read more →

Presidents’ Day is a good time to celebrate democracy

While most Americans view Presidents’ Day as a great holiday day off or a time for shopping, taking some time to celebrate our national democracy will reap rewards. Learn about all the presidents through a “Meet the Presidents” article on the White House Blog. You can also watch two short... Read more →

Recall of the Week: Prius cars due to stall hazard

Toyota is recalling about 700,000 Prius cars, model years 2010 through 2014. The software’s current settings could cause transistors to heat up, resulting in warning lights coming on and the car slowing down to a limp-home mode. The hybrid system also might shut down causing the car to stall, increasing... Read more →