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July 2014

Citigroup to pay $7 billion to settle mortgage securities investigation

Photo: Jarrod Trost The Justice Department, along with federal and state partners, announced a $7 billion settlement with Citigroup Monday that resolves federal and state claims related to Citigroup’s packaging and selling of residential mortgage-backed securities or RMBS. As part of the settlement, Citigroup, one of the nation's largest banks,... Read more →

Recall of the Week: All Power American snow throwers due to fire hazard

All Power American is recalling about 10,000 single stage snow throwers. Exposure to Chinese gasoline for extended periods of time while testing the product overseas caused the carburetor needle to become corroded and allow fuel to leak, posing a fire hazard to consumers, the company and U.S. Consumer Product Safety... Read more →

Role models, history, moving, and cell phones capture the attention of baby boomer bloggers this week

Amy Blitchok of the Modern Senior is the host for this week’s Best of Boomer Blogs #363. Blitchok reflects on the life and recent passing of Louis Zamperini, a survivor of World War II, who is featured in the book “Unbroken” and an upcoming movie directed by Angelina Jolie. Tom... Read more →

Federal Reserve defends mortgage settlement process for lenders accused of wrongdoing

In a report issued Monday, the Federal Reserve Board defended its method of punishing banks for misconduct in home foreclosures. The agency said about 83 percent of borrowers have cashed checks reimbursing them for financial injury. In 2011 and 2012 settlements,16 mortgage servicers entered into payment agreements with the Office... Read more →

How to find the right hospital if you need heart surgery

In its first-time rating of hospitals for heart surgery, Consumer Reports finds top-rated hospitals in surprising places and a wide variety in performance – even at neighboring hospitals in the same geographic area. The ratings, which look at heart bypass surgery and aortic valve replacement surgery, cover more than 400... Read more →

Recall of the Week: Coravin wine access systems due to laceration hazard

Coravin is recalling about 65,000 wine access systems in the United States and about 640 in Canada The system can cause wine bottles to break during pressurization, posing a risk of lacerations, the company and U.S. Consumer Product Safety Commission said. Coravin has received 13 reports of bottles breaking. In... Read more →

Baby boomer bloggers focus on health, care giving, moving, and history

Tom Sightings from Sightings Over Sixty is the host for this week’s Best of Boomer Blogs #362. Sightings is reading Doris Kearns Goodwin’s book on Teddy Roosevelt called “The Bully Pulpit” and comments on an article about the singer Sting, 62, who made news recently when he announced that his... Read more →

FTC: T-Mobile made millions adding bogus charges onto consumers’ phone bills

In a lawsuit filed Tuesday, the Federal Trade Commission is charging T-Mobile with making hundreds of millions of dollars by putting charges on mobile phone bills for “premium” SMS subscriptions that, in many cases, were bogus charges that weren’t authorized by its customers. The FTC alleges that T-Mobile received from... Read more →

L’Oreal settles FTC charges of deceptive advertising for 'anti-aging' cosmetics

Cosmetics company L’Oréal USA Inc. has agreed to settle Federal Trade Commission charges of deceptive advertising about its Lancôme Génifique and L’Oréal Paris Youth Code skincare products. L’Oréal made false claims that its Génifique and Youth Code products provided anti-aging benefits by targeting users’ genes, according to an FTC’s lawsuit.... Read more →