April is National Financial Literacy Month. It’s a great opportunity for consumers to check and promote their financial situation and skills. For people who have just started earning or have been earning for a long time, every day is a chance to reflect on spending and improve finances.
With the likelihood high that the Federal Reserve will raise interest rates by half a point on May 4, people with credit card debt will spend an additional $3.3 billion on interest in 2022, according to WalletHub. “People generally have a negative opinion on Fed rate hikes,” said Delaney Simchuk, analyst.
It’s difficult for families to make decisions about funeral arrangements fast when a loved one dies. Due to the pandemic or if they live far away, they may need to plan services by phone or online. When consumers ask for information by phone, the FTC’s Funeral Rule requires funeral providers give them accurate information.
Best Buy is recalling about 635,000 Insignia air fryers and air fryer ovens in the U.S. and 137,000 in Canada. They can overheat, posing fire and burn risks. Best Buy has received 68 reports from U.S. consumers and 36 reports from Canadians of the air fryer or air fryer ovens catching fire, burning, or melting.
MoneyGram, one of the largest money transfer companies in the U.S., held up funds and withheld refunds, the CFPB and New York Attorney General’s Office allege in a lawsuit. The company repeatedly violated consumer laws when it failed to deliver funds promptly to recipients abroad.
The Warrior Trading day trading investment scheme is being ordered by the FTC to stop making unrealistic claims of big gains to consumers. It alleges that the company and its CEO used those claims to convince consumers to pay hundreds of thousands of dollars for a system that failed for most customers.
While everyday Americans are paying taxes, some corporations aren’t paying their fair share, watchdog group says
If you’re like me, you pay income taxes every year. However, some large corporations are evading taxes while raising prices. Five large corporations – including FedEx, Nike, and Duke Energy, which raised prices on consumers last year – paid an average tax rate of negative 11.6 percent.
Dollar Tree is recalling about 1,025,000 Crafter’s Square glue guns in the United States and 21,900 in Canada. The glue gun can malfunction when plugged in, posing fire and burn risks. Dollar Tree has received seven reports of electrical malfunctions when using the glue guns.
What are your plans for Easter? Eighty percent of consumers plan to celebrate Easter this year and will spend an average $169.79, according to the National Retail Federation. Total spending for the holiday is estimated to be $20.8 billion, down slightly from last year's forecast of $21.6 billion.
Some large banks have announced they’re eliminating non-sufficient fund or NSF fees on their checking accounts. It’s a positive development, the Consumer Financial Protection Bureau said. These changes mean consumers will pay about 50 percent less in fees each year, an annual savings of about $1 billion.