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December 2023

Keep an eye on your bank, as yet another one is fined for misleading customers about overdraft fees

Atlantic Union Bank illegally enrolled thousands of customers in checking account overdraft programs by phone and failed to provide proper disclosures, a federal agency said Friday as it took action against the bank. The CFPB is ordering Atlantic Union to refund at least $5 million in illegal overdraft fees and pay a $1.2 million penalty to the its victims relief fund. Read more →

Be aware of problems with retail credit cards as you shop this holiday season

As you’re doing your holiday shopping, it may be tempting to sign up for a retail credit card to take $25 or $50 off a big purchase. Don’t do it. These cards typically come with higher-than-average interest rates and limitations on rewards earning and redemption. A survey by FinanceBuzz, a financial information website found the following:  Read more →

Payments available for people who received phony ‘preapproved’ Credit Karma credit card offers

Last year, Credit Karma agreed to pay $3 million to settle charges that it deceived people by claiming – falsely – that they had been “pre-approved” or had “90% odds” of approval for credit cards or loans offered by banks and lenders that used Credit Karma to promote their financial products. Many people weren’t approved for credit. Read more →

Bloggers are busy as the holidays approach

It’s a flurry of activity getting ready for the holidays. I’ve purchased my plane ticket to California, started my shopping, and am contemplating decorations. My daughters came for an early Christmas last year and the year before. I “decked the halls” with a living Christmas tree, got out the nice China and red table runner, and we cooked up a storm. Read more →

Watch out for DNA testing firms that misrepresent their test results and trick consumers into paying for products

Be sure to check out any DNA testing firms that you’re considering buying a test kit from. CRI Genetics made false claims on its websites and social media that its ancestry reports were more accurate and detailed than other DNA testing companies, such as Ancestry DNA and 23andMe, according to a joint lawsuit by two agencies. Read more →