CFPB to look into overdraft fees

Richard Cordray, director of the Consumer Financial Protection Bureau.

The newly-opened Consumer Financial Protection Bureau announced Wednesday that it will be looking into banking practices as they relate to overdraft fees. Near the top of consumer complaints, banks say that overdraft fees are a fair way to keep customers from getting overextended. Others say they are just a profit-making venture. CFPB probes banking practices […]

JC Penney cuts all prices by 40 percent, permanently

Penney's shopper

Discount stores have become a favorite for many in this sluggish economy. Now add J.C. Penney to that list of places you can go and always find a bargain. The long-enduring department store has announced that it will be eliminating most of its sales and marking down all merchandise by at least 40 percent — […]

Drug company kickbacks to doctors to be disclosed

Xanax

One of the questionable secrets of the health care industry in the United States is the perks that drug companies give to doctors. Many see it as a major conflict of interest, and the government is drawing up legislation to compel drug companies to disclose such payments. Rules on gifts from pharma firms overdue For […]

Honda expands its recall for faulty airbags

Honda expands its recall for faulty airbags

Honda Motor Co. is expanding an earlier recall of Civic, Accord and other models for possible defects in its airbags. About 304,000 vehicles are being recalled in this expansion. The defect could send potentially fatal plastic and metal shards flying when the airbag is deployed in an accident. The recall was announced by the Japanese […]

PG&E to pay $70 million for pipeline tragedy

PG&E to pay $70 million for pipeline tragedy

Pacific Gas and Electric Co., a northern California utility, has agreed to pay $70 million to the California town of San Bruno for a pipeline explosion that killed eight people in 2010. Company says it’s remorseful The San Francisco-based power company’s president, Chris Johns, released a statement Monday, saying PG&E is sorry and eager to […]

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Pharmaceutical Medicare and Medicaid fraud runs rampant

The pharmaceutical industry is often lauded for medical advances, creating drugs that save lives. However, it is equally lambasted for corrupt practices such as Medicare and Medicaid fraud, which large pharmaceutical companies are perpetrating to the tune of billions of dollars per year. The omelet defense Fresh allegations of wrong-doing by drug companies are all […]

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Pfizer corporate headquarters
Prescription drug companies like Pfizer and Merck are costing taxpayers billions in Medicare and Medicaid fraud. Image from Wikimedia Commons.