The Survive and Thrive Boomer Guide

Equifax to pay up to $700 million for 2017 data breach

Equifax has agreed to pay $575 million, and possibly up to $700 million, as part of a settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 states and territories. The settlement alleges that the credit reporting company’s failure to take steps to secure its network led to a data breach in 2017 that affected about 147 million people.

In its lawsuit, the FTC alleges that the Equifax data breach exposed millions of names and dates of birth, Social Security numbers, physical addresses, and other personal information that could lead to identity theft and fraud.

As part of the proposed settlement, Equifax will pay $300 million to a fund that will provide affected consumers with credit monitoring services. The fund will also compensate consumers who bought credit or identity monitoring services from Equifax and paid other money as a result of the 2017 data breach. Equifax will add up to $125 million to the fund if the $300 million isn’t enough to compensate consumers for their losses.

White mugs being recalled by Lifetime Brands due to burn and laceration hazards

Lifetime Brands is recalling about 150,000 Fitz and Floyd Nevaeh white can mugs in the United States and 3,500 in Canada.

The mugs can crack or break when used with or filled with hot liquids, posing burn and laceration hazards.

Lifetime Brands and Fitz and Floyd have received reports of seven incidents where the mugs cracked after holding hot liquids with one report of a consumer receiving minor burns.

CVS-Aetna merger harmful to patients, consumer advocates tell the judge

Photo: JJBers

CVS-Aetna lawyers, consumer advocates, and health care organizations gathered Thursday in Washington, D.C., for oral arguments on whether the Department of Justice’s proposed final judgment in the CVS-Aetna merger is in the public interest. 

U.S. Public Interest Research Group, which filed a friend of the court brief with Consumer Action, called CVS’ claim that the merger would reduce prescription drug prices “absurd.”

“CVS is claiming the merger will simultaneously boost profits to investors and help save consumers money,” said Adam Garber, consumer watchdog for U.S. PIRG. “But without an impartial party holding the combined company accountable, it is more likely than not that instead prices will go up, to the detriment of patients.

New rule that allows nursing homes to force residents into arbitration puts seniors at risk

The Centers for Medicare and Medicaid Services issued a final rule Wednesday stating that it will no longer prohibit nursing homes from forcing a resident into arbitration if they have a dispute with the nursing home. As a result, nursing homes can enforce agreements in which residents sign away their right to access the court system if they’re injured or harmed.

“This shameful move by the Trump administration puts the interests of nursing home corporations before residents – the people who need our protection the most,” said Remington A. Gregg, counsel for civil justice and consumer rights for Public Citizen’s Congress Watch Division

Nursing home residents are among our most vulnerable citizens, Gregg said, adding forcing them into secret arbitration process will allow systemic problems in nursing homes to go unaddressed and remain hidden.

Smoke alarms recalled by Universal Security Instruments due to failure to alert consumers to a fire

Universal Security Instruments is recalling about 180,000 battery powered smoke and fire alarms.

The smoke alarms can have a misaligned internal switch causing the alarms to not activate properly, posing a risk of failure to alert consumers to a fire.

The company has received 134 reports of failure to properly activate during installation.

Debt settlement company agrees to pay $25 million in action by CFPB

The Consumer Financial Protection Bureau or CFPB announced the settlement of a lawsuit Tuesday it had brought against Freedom Debt Relief, the nation’s largest debt settlement company. The company agreed to pay $20 million in restitution to affected consumers and a $5 million civil penalty. The original suit was filed in November 2017 and an amended complaint filed in June 2018.

“I applaud the Consumer Protection Financial Bureau for taking action against Freedom Debt Relief,” said Andrew Pizor, attorney for the National Consumer Law Center. “It is especially important that the settlement included restitution for aggrieved consumers. Debt settlement and similar programs offered by companies like Freedom often do more harm than good and turn out to be a waste of money.”

Pizor said consumers should talk to their creditors directly and do their own debt settlement negotiations, or they should talk to a qualified consumer bankruptcy attorney.

Inclined sleeper accessory included with ultra-lite day & night play yards being recalled by Fisher-Price due to safety concerns

Fisher-Price is recalling about 71,000 inclined sleeper accessory included with all models of Fisher-Price ultra-lite day & night play yards.

Infant fatalities have been reported while using other inclined sleep products, after the infants rolled from their back to their stomach or side while unrestrained, or under other circumstances.

This recall involves the inclined sleeper accessory sold with all ultra-lite day & night play yards with model numbers CBV60, CHP86, CHR06, CJK24, and DJD11. The model number is located on the fabric label inside of the play yard and on the fabric label on the back of the inclined sleeper pad. The product is a portable play yard with inclined sleeper and changing station clutch accessories and a carry bag; the inclined sleeper accessory is the only portion of the product that is being recalled.

Prescription prices climbing while President Trump, Congress do little, Public Citizen says

Despite promises from President Donald Trump and prescription corporations, prices for prescriptions have surged during the first six months of 2019. More than 3,400 medications rose an average of 10.5 percent in the first six months of 2019.

Despite presidential tweets and congressional hearings, there is still nothing to prevent prescription companies from sharply increasing prices, said Peter Maybarduk, director of Public Citizen’s Access to Medicines Program.

Lawmakers who have favored only modest reforms need to open their eyes to the routine price gouging pharmaceutical corporations inflict on Americans with impunity, Maybarduk said.

Top places to travel for July Fourth 2019

For a list of unique places to celebrate the Fourth of July, see Trip Advisor’s “10 Ideal July 4^th Destinations to Celebrate (With or Without Crowds).”

1. New Orleans
2. Washington, D.C.
3. Myrtle Beach, South Carolina
4. Boston
5. Philadelphia
6. Jackson Hole, Wyoming
7. Sonoma, California
8. Newport, Rhode Island
9. Camden, Maine
10. Brian Head, Utah

Copyright 2019, Rita R. Robison, Personal Finance Writer

July Fourth facts and figures for 2019

Source: WalletHub