Welcome to Consumers’ Notebook, where we feature news-you-can-use and other timely information to help you become a more informed consumer. Check back often to read the latest pieces in our Notebook.
Congress Kills Rule that Would Have Capped Banking Overdraft Fees at $5
In a major win for the banking industry, Congress has overturned a Consumer Financial Protection (CFPB) rule that would have limited overdraft fees to $5 at the nation’s largest banks and credit unions.
Federal Judge Removes Cap on Credit Card Late Fees
A federal court judge in Texas scrapped a Consumer Financial Protection Bureau (CFPB) rule that would have limited “excessive” credit card late fees to $8.
Why Prices for Used Vehicles Are Expected to Increase in 2025
Buying a late-model used vehicle will become even more challenging as prices rise due to declining supply and higher demand.
Don’t Fall for Bogus ‘Unpaid Toll’ Text Messages
If you receive a text message requesting payment for outstanding toll charges, assume it’s a scam. The volume of these fake messages has surged recently.
AI and Algorithms Increasingly Control Our Financial Fates
Companies are increasingly using algorithms and artificial intelligence (AI) to analyze the massive amount of data they scoop up about us to decide what financial products we qualify for and how much we’ll pay for them. These sophisticated tools are used by banks when making lending decisions, by employers screening job applications, and, in most states, by auto and home insurance companies when setting premiums.
Trump Administration Moves to Shut Down Important Consumer Watchdog Agency
The Trump administration has ordered the Consumer Financial Protection Bureau (CFPB) to halt all work and fired most of its employees. The CFPB was formed to fight financial fraud and deceptive lending practices.
Save on Prescription Drugs: How to Pay Less Than Your Insurance Copay
Websites and apps like GoodRX, America’s Pharmacy, Blink Health, Optum Perks, RXSaver, SingleCare, and WellRX can offer discounts so steep that you might pay less for your prescription medicines than the copays you'd pay under your health insurance plan.
Why Do Americans Pay More for Prescription Drugs?
The average American spends more than $1,400 a year on prescription medications. For many, that expense is a budget buster. In 2021, 9.2 million Americans couldn’t afford to take their medications as directed.
Update: Court Kills FTC’s Fraud-Fighting ‘CARS’ Rule
A U.S. appeals court has vacated the Federal Trade Commission’s (FTC) Combating Auto Retail Scams (CARS) Rule, which would have banned bait-and-switch sales tactics and prohibited junk fees.
Update: Court Blocks New Rule Requiring Upfront Disclosure of Airline Fees
A federal appeals court has blocked a Department of Transportation rule that would have required airlines to disclose “ancillary” fees—extra costs for baggage, canceling a reservation, or changing a reservation—along with ticket prices.
Protect Yourself from Tax Return Identity Theft
Hundreds of thousands of Americans become victims of tax-related identity theft each year. The average time to resolve tax-return-theft claims is now 22 months. Here’s how to protect yourself.
Five Ways to Get Great Valentine’s Day Flowers for Less
Valentine's Day is right around the corner. Here are some tips on how to get beautiful blooms for less green.
What to Expect as You Prepare This Year’s Federal Tax Return
There are no new credits or deductions available for this filing season. However, the IRS has made its annual inflation adjustments for more than 60 tax provisions, including tax rate schedules and the standard deduction.
New Federal Rule Bans Hidden Hotel and Ticket Junk Fees
The Federal Trade Commission’s (FTC) Junk Fees Rule, which was announced in mid-December and will take effect in mid-2025, prohibits bait-and-switch pricing and other tactics used to bury junk fees and hide total prices for live-event ticketing and short-term lodging.
Government Lawsuit Alleges Three Major U.S. Banks Allowed ‘Fraud to Fester’ on Zelle
The Consumer Financial Protection Bureau (CFPB) has accused Zelle and three of the major U.S. banks that own the most widely available peer-to-peer payment system in America, of “failing to protect consumers from widespread fraud.”...
Watch Out: Fake Reviews Are Everywhere
While the research team at Checkbook.org spends enormous time and resources hunting down and eliminating ratings submitted by businesses, elsewhere, unfortunately, you can’t always trust online reviews.
Buying Toys on Overseas Websites Can be Risky
Cost-conscious consumers have discovered the convenience, low prices, and enormous selection offered by overseas-based websites (such as Temu, Shein, and Ali Express). While the price is right, consumer advocates warn that the safety of these products is not guaranteed.
Watch Out for Worthless Gift Cards
Thieves are increasingly hacking into gift card accounts and draining away their value. Take these steps to avoid buying worthless gift cards.
Don’t Overspend This Holiday Shopping Season
You’ve made your list and checked it twice. And when you go shopping, you want to get the most for your money and avoid trouble. Here are tips for finding the best deals and avoiding a holiday debt hangover.
New Rule Requires Airlines to Provide Automatic Refunds for Canceled or Delayed Flights
To simplify and speed up the process of getting refunds when flights are canceled, the U.S. Department of Transportation (DOT) has issued a new rule that requires airlines to promptly provide passengers with refunds when owed.