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Consumer Daily Reports

ustomers of Capital Ones 360 Savings account may be eligible for compensation.

By Truman Lewis Consumer News: Capital One to pay 5 million over savings account settlement of ConsumerAffairs
August 14, 2025
  • $425 million class action deal: Customers of Capital Ones 360 Savings account may be eligible for compensation.

  • Alleged $2 billion in lost interest: Regulators said Capital One froze rates at 0.3% while competitors and its own newer account paid much more.

  • Claims deadline Oct. 2: Settlement awaits court approval, with a final hearing set for Nov. 6.


Photo

If you had a Capital One 360 Savings account between September 2019 and June 2025, you may soon be entitled to a payout. The bank has agreed to a $425 million settlement to resolve allegations that it misled customers about the returns on its flagship savings product.

The settlement follows a 2024 class action lawsuit filed by customers in federal court in Alexandria, Virginia. Earlier this year, the Consumer Financial Protection Bureau (CFPB) also sued Capital One, charging that the bank cost consumers more than $2 billion in lost interest. Although the CFPB dropped its case in February, the class action moved forward leading to this large settlement.

What Capital One was accused of

Capital One heavily marketed its 360 Savings account as a high-interest, variable-rate product that would pay among the nations best yields. In practice, however, the bank allegedly froze rates at just 0.3%, even as national interest rates climbed rapidly during 2022.

Meanwhile, Capital One launched a separate 360 Performance Savings account, which eventually offered rates as high as 4.3%. Customers of the older 360 Savings account were never notified of the newer, higher-earning option, according to filings.

The CFPB called the banks earlier advertising false or otherwise misleading.

Who qualifies for payment

Anyone who held a Capital One 360 Savings account between Sept. 18, 2019, and June 16, 2025 qualifies for settlement payments.

How much will customers receive

Payments will be based on what account holders would have earned if their money had been in the 360 Performance Savings account during the same period.

In addition, customers who still maintain a 360 Savings account will see their interest rates raised. Under the terms of the settlement, the account will now earn a rate that is at least twice the national average savings rate, as calculated by the FDIC.

Key dates

  • Oct. 2, 2025: Deadline to submit a claim or file objections.

  • Nov. 6, 2025: Court hearing scheduled for final settlement approval.




Posted: 2025-08-14 15:45:14

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More News From This Category

Consumer News: Albertsons recalls deli items tied to pasta ingredient with listeria risk

Wed, 01 Oct 2025 16:07:07 +0000

Its linked to a recall by Nates Fine Foods of Roseville, Calif.

By Mark Huffman of ConsumerAffairs
October 1, 2025
  • Recall covers five store-made deli items sold under multiple Albertsons-owned brands across 17 states

  • Products contain bowtie pasta recalled by Nates Fine Foods, linked to potential Listeria monocytogenes contamination

  • No illnesses reported, but consumers are urged to return or discard affected items immediately


A previous pasta recall is having a ripple effect. Albertsons Companies has issued a recall of five store-made deli items supplied by Fresh Creative Foods, a division of Resers Fine Foods, Inc., due to potential contamination with Listeria monocytogenes.

The action follows a recall by Nates Fine Foods of Roseville, Calif., which produced the bowtie pasta used in the affected products.

Listeria monocytogenes is a bacterium that can cause severe and sometimes fatal infections, particularly in young children, older adults, and people with weakened immune systems. Healthy individuals may experience short-term flu-like symptoms such as fever, nausea, abdominal pain, and diarrhea.

The U.S. Food and Drug Administration (FDA) cautions consumers to take extra steps when handling potentially contaminated foods, including thoroughly cleaning surfaces and containers that may have come into contact with the recalled products. Unlike many bacteria, Listeria can survive and spread at refrigerated temperatures.

Where the recalled items were sold

The recalled deli products were sold in stores operating under the following banners:

  • Albertsons

  • Albertsons Market

  • Amigos

  • Andronico's Community Markets

  • Carrs-Safeway

  • Eagle

  • Pak 'N Save

  • Pavilions

  • Market Street

  • Randalls

  • Safeway

  • Tom Thumb

  • Vons

These stores operate in 15states: Alaska, Arizona, Arkansas, California, Colorado, Hawaii, Louisiana, Nebraska, Nevada, New Mexico, Oklahoma, South Dakota, Texas, Utah and Wyoming.

What to do

At this time, Albertsons says no injuries or illnesses have been linked to the recalled items. The company urges customers who purchased any of the products not to consume them. Instead, items should be discarded or returned to the store of purchase for a full refund.

Consumers with concerns about possible illness are encouraged to seek medical advice promptly. Questions about the recall can be directed to Albertsons Companies Customer Service Center at 1-877-723-3929, available Monday through Friday from 5 a.m. to 9 p.m. PDT.


Read More ...


Consumer News: Here’s where tariffs have made the most impact in six months

Wed, 01 Oct 2025 16:07:07 +0000

Farmers, manufacturers hit hardest while consumers feel mixed impact

By Mark Huffman of ConsumerAffairs
October 1, 2025
  • Farmers and manufacturers are hit hardest by tariffs, with lost export markets, higher input costs, and squeezed profits.

  • Consumers see mixed effects: big jumps in prices for appliances like washing machines, smaller or delayed hikes in clothing and electronics.

  • Retailers and tech companies have shielded shoppers so far, but analysts warn more price increases are likely if tariffs remain in place.


Its been six months since the Trump administration began imposing steep tariffs on hundreds of billions of dollars worth of imports, primarily from China, but also steel, aluminum, and other goods from allies.

On the positive side of the ledger, billions of dollars have poured into the U.S. Treasury, chipping away at the budget deficit. However, the economic fallout has touched nearly every sector of the economy, some more than others.

Intended to protect domestic jobs and reduce the trade deficit, the tariffs have triggered retaliation, disrupted global supply chains, and created uncertainty for businesses. Here are the sectors feeling the pinch.

Agriculture

Farmers have arguably been hit the hardest. Retaliatory tariffs from China and other trading partners targeted soybeans, pork, and other U.S. farm exports. The result: plummeting overseas demand, a glut of supply, and steep losses for family farms. Billions in federal aid packages have softened the blow but havent restored lost markets.

Manufacturing


U.S. manufacturers that rely on imported steel, aluminum, and parts have faced higher input costs. Automakers, appliance makers, and heavy equipment companies like Caterpillar and Harley-Davidson have reported profit squeezes. Some companies passed costs along to buyers; others absorbed them to stay competitive.

Retail & consumer goods

Clothing, electronics, and household items were caught in tariff rounds as well. Many retailers initially absorbed costs to avoid scaring off price-sensitive shoppers. Still, surveys show gradual price creep on everyday goods, from washing machines to laptops. Smaller retailers with thinner margins often had no choice but to raise prices.

Technology

Tech companies faced higher component costs, especially those relying on Chinese-made semiconductors, circuit boards, and networking equipment. The consumer impact has been muted so far, as big players like Apple used financial muscle to shield shoppersbut analysts warn continued tariffs could eventually trickle down to sticker prices.

Consumer prices: Where tariffs bite and where they dont

  • Noticeable impact: Washing machines, some appliances, steel-heavy products (cars, tools). The Bureau of Labor Statistics reported double-digit increases in washer and dryer prices shortly after tariffs hit.

  • Muted impact: Smartphones, laptops, and major electronics. Retailers and tech firms have leaned on long supply contracts, offshoring, or temporary absorption of costs.

  • Mixed impact: Clothing and footwear. Some brands shifted sourcing away from China, easing upward pressure. Others passed along modest hikes, most visible in mid-range and budget segments.

Several factors have blunted the shock at checkout lines:

  • Stronger U.S. dollar is making imports cheaper overall.

  • Retailers absorbing margins to keep market share.

  • Diversification of supply chains to countries outside China.

Still, trade analysts caution that consumers may feel more pain over time if tariffs stay in place or escalate. Many companies can only absorb costs for so long before price hikes become unavoidable.

The bottom line

Tariffs were billed as a tool to protect American workers and industries, but their impact has been uneven. Farmers and manufacturers have taken direct hits, while consumer price effects have been scattered sharp in some categories, barely visible in others.

For now, U.S. shoppers are shielded from the worst. But if tariffs drag on, more household budgets could be caught in the crossfire of global trade battles.


Read More ...


Consumer News: Consumer confidence falls to lowest level since April

Wed, 01 Oct 2025 13:07:08 +0000

Job worries and inflation drive sentiment

By Mark Huffman of ConsumerAffairs
October 1, 2025
  • The Consumer Confidence Index dropped 3.6 points in September, falling to 94.2.

  • The Present Situation Index tumbled 7.0 points to 125.4, its sharpest one-month decline in a year.

  • The Expectations Index slipped to 73.4, remaining below the recession-warning threshold of 80 for the eighth consecutive month.


Consumer confidence eroded further in September, marking the lowest reading since April, as Americans grew more uneasy about current business conditions and job availability, according to data from The Conference Board.

The headline index fell to 94.2, down from 97.8 in August, reflecting mounting economic unease. While short-term expectations weakened only modestly, consumers view of present conditions plunged, with the Present Situation Index down seven points to 125.4, its steepest monthly drop since September 2024.

Consumers appraisal of the current job market fell for the ninth straight month to a new multiyear low, said Stephanie Guichard, senior economist at The Conference Board. That aligns with the steady decline in job openings. The present situation component saw its largest drop in a year.

Concern about jobs

The job market weighed heavily on consumer sentiment:

  • Just 26.9% of consumers said jobs were plentiful, down from 30.2% in August.

  • Those calling jobs hard to get held steady at 19.1%, but the overall deterioration suggests further cooling in labor demand.

At the same time, inflation reemerged as the top consumer worry. Mentions of prices rose in September, surpassing tariffs and trade concerns as the leading driver of negative sentiment. Yet inflation expectations edged slightly lower, with the average 12-month outlook dipping to 5.8% from 6.1% in August.

Demographic and political divides

Confidence moved in opposite directions across age groups:

  • Under-35 consumers grew more optimistic, while those over 35 lost confidence.

  • By income, results were mixed, with no clear pattern, though households earning between $25,000 and $35,000 and those making above $200,000 saw notable declines.

Political affiliation also played a role. Confidence improved modestly among Republicans and Democrats, but dropped sharply among Independents, suggesting a growing divide in perceptions of the economy.

Family finances take a hit

Americans views of their own finances dimmed:

  • Assessments of current financial situations recorded the steepest one-month drop since the measure began in July 2022.

  • Expectations for future finances weakened only slightly.

Meanwhile, the share of consumers who believe the U.S. is already in recession rose in September. Those who said a recession is very likely over the next year also climbed to the highest level since May.

Consumers purchasing plans were mixed in September:

  • Car buying plans weakened, both new and used.

  • Home buying intentions jumped to a four-month high.

  • Electronics purchases rose, especially smartphones and TVs, though refrigerator purchases fell.

  • Travel intentions slumped, with vacation plans hitting the lowest level since Aprildragged down by fewer plans for overseas trips.

Markets outlook: Slight uptick in optimism

Despite gloomier views on jobs and finances, consumer sentiment toward financial markets ticked up:

  • Nearly 49% expect stock prices to rise over the next year, unchanged from July and August.

  • The share expecting declines fell to 27.6%, down from 30.2%.

  • Interest rate expectations softened slightly, with fewer consumers predicting higher borrowing costs.

The bottom line

The September report suggests that while Americans are increasingly worried about the presentparticularly jobs and household financessome cling to hope for steadier income and stronger stock markets ahead. But with the Expectations Index stuck below recession-warning levels since February, economists caution that consumer resilience may continue to erode into year-end.

Consumers are growing more cautious, especially about jobs, Guichard said. With confidence at a five-month low, the risk of weaker spending in the months ahead is rising.


Read More ...


Consumer News: FTC sues Zillow and Redfin over deal that ‘eliminates competition’ in rental ads

Wed, 01 Oct 2025 13:07:08 +0000

Regulators say Zillow paid $100 million to sideline Redfin as a competitor

By Mark Huffman of ConsumerAffairs
October 1, 2025
  • FTC sues Zillow and Redfin over a $100 million deal that regulators say illegally removed Redfin as a competitor in online rental advertising.

  • Regulators warn of consumer harm, including higher advertising costs for landlords, reduced innovation, and fewer choices for renters.

  • The lawsuit seeks to unwind the agreement, citing violations of antitrust law and working in coordination with state attorneys general.


The Federal Trade Commission (FTC) has filed suit against Zillow and Redfin, accusing the two real estate platforms of striking an illegal deal that removed Redfin as a rival in the online rental advertising market.

According to the complaint, Zillow paid Redfin $100 million and other compensation in February 2025 in exchange for dismantling its advertising business for multifamily rental properties.

Under the arrangement, Redfin allegedly agreed to:

  • Terminate contracts with its advertising customers and help Zillow take them over

  • Stop competing in the rental advertising business for up to nine years, and

  • Syndicate Zillows listings exclusively, turning Redfins rental pages into a mirror of Zillows content.

The FTC said the companies marketed the move as a partnership, but in practice, regulators argue it amounts to a payoff designed to protect Zillow from competition.

Paying off a competitor to stop competing against you is a violation of federal antitrust laws, said Daniel Guarnera, director of the FTCs Bureau of Competition. Zillow paid millions of dollars to eliminate Redfin as an independent competitor in an already concentrated advertising marketone thats critical for renters, property managers, and the health of the overall U.S. housing market.

Consumer impact

The FTC contends that Zillows agreement with Redfin will harm both property managers and renters by stifling competition. Regulators warn that the arrangement could:

  • Drive up the cost of advertising rental properties

  • Limit innovation in how listings are presented and how renters search, and

  • Reduce incentives for either company to improve user experience.

The complaint further alleges that hundreds of Redfin employees were fired as part of the deal, with Zillow rehiring some of its choice picks.

For renters, the FTC says the deal could mean fewer features, less transparency, and a narrower range of search options at a time when affordability is already strained in the housing market.

Legal and regulatory angle

The lawsuit claims the Zillow-Redfin pact violates Section 7 of the Clayton Act, which prohibits acquisitions that may substantially lessen competition. The agency is seeking to block the agreement, and may pursue remedies such as unwinding parts of the deal, requiring divestitures, or reconstructing parts of Redfins rental business to restore competition.

The FTC also worked alongside several state attorneys general in investigating the case and says it expects continued cooperation as the lawsuit proceeds.

Online listing services (ILSs) like Zillow, Rent.com, and ApartmentGuide.com are a key gateway for millions of renters searching for their next home. With fewer major players competing in the market, regulators argue, property managers may face higher costs to advertise units, and those costs could be passed along to renters in the form of higher rent or fewer affordable options.


Read More ...


Consumer News: Congress fails to keep government running; shutdown takes effect

Wed, 01 Oct 2025 04:07:08 +0000

It's a familiar playbook, although there appears to be less planning this year than in the past

By James R. Hood of ConsumerAffairs
October 1, 2025

Despite, or perhaps because of, persistent efforts in Congress, the federal government ran out of money at midnight and is now officially out of action. The Senate adjourned late Tuesday night and the Office of Management andBudget issued a memo to executive branch agencies instructing them to "execute their plans for an orderly shutdown."

Leaving aside the he-said, she-said political jockeying, here is a look at the immediate effects on everyday consumers.

What will not be affected

  • Social Security payments will continue as usual, including Supplemental Security Income
  • Medicare, Medicaid, and disability insurance will be largely unaffected by a shutdown lasting less than three months
  • VA Medical Centers, Outpatient Clinics, and Vet Centers will remain open and provide all services
  • The majority of veteran benefits and military operations will continue to be funded
  • Visa and passport operations are fee-funded and not normally impacted

What will be affected

  • Around 900,000 federal workers willbe furloughed without pay, while another roughly 900,000 deemed essential would work without immediate pay
  • Travelers could experience longer airport lines, muddled itineraries, and National Park closures, including the Grand Canyon
  • New Social Security benefit verification and issuing of new cards pause during a shutdown, causing delays for new recipients
  • Food assistance programs like WIC and SNAP could face disruptions
  • Immigration court cases on the non-detained docket will be rescheduled to a later date

The shutdown was scheduled to begin at 12:01 AM and will continue until Congress passes new legislation. The most immediate impact will be on federal employees going without pay and reduced government services, while major benefit programs would largely continue operating.

DOGE, immigration efforts play a role

The effect on the economy may be greater than during previous shutdowns, thanks to the cost-cutting efforts of Elon Musk's DOGE program and the accelerated detention and deportation of undocumented workers, who make up a large percentage of the agricultural and hospitality workforces.

Some areas are being harder hit than others.The Washington, D.C., regions unemployment rate has climbed more than eight times faster than the national rate since January, according to a Brookings Institution analysis. Federal job losses have accelerated, while the share of residents with low credit scores and homes for sale has grown more quickly than elsewhere in the country. Private sector job growth has stalled, leaving the economy with little cushion against government cuts.

Facing the consequences

A federal government shutdown has wide-ranging effects, because funding for many agencies halts until Congress approves a budget. Heres a breakdown of the biggest impacts Americans typically feel:

1. Federal workers and contractors

  • Furloughs: Hundreds of thousands of federal employees are sent home without pay until funding is restored.

  • Essential workers still work: Military personnel, TSA agents, air traffic controllers, and federal prison guards must keep working, but their pay may be delayed.

  • Contractors hit hardest: Private contractors for the government often dont receive back pay after a shutdown ends.

2. Government services and benefits

  • Social Security, Medicare, Medicaid: These programs keep running, since theyre mandatory spending. However, customer service and processing (like new applications or appeals) can slow dramatically.

  • Food assistance: Programs like SNAP (food stamps) and WIC (nutrition for women and children) face funding gaps if a shutdown drags on.

  • Passports & visas: Processing slows or stops, creating travel delays.

  • Tax refunds: The IRS continues some operations, but many services pause, potentially delaying refunds and audits.

3. Economy and markets

  • GDP hit: Each week of shutdown reduces economic output, since government workers stop spending paychecks and contractors lose business.

  • Stock market volatility: Markets may react negatively to the uncertainty, especially if the shutdown signals broader fiscal dysfunction.

  • Consumer confidence: Public perception of government instability can dampen spending and hiring.

4. Public health and safety

  • FDA & CDC delays: Food inspections, disease surveillance, and some drug approvals can be postponed.

  • National parks: Parks may close or operate with reduced staff, leading to sanitation, safety, and visitor issues.

  • Research disruptions: NIH grants and other federally funded science projects stall, slowing medical and academic research.

5. Long-term consequences

  • Worker morale: Repeated shutdowns demoralize federal employees, making recruitment and retention harder.

  • Credibility: Internationally, shutdowns raise questions about U.S. political stability and fiscal management.

  • Catch-up costs: Restarting agencies after closures is inefficient and costly.


What to do during a government shutdown

Key points at a glance

  • Essential programs keep running (Social Security, Medicare, Medicaid), but services may slow.

  • Federal workers and contractors may miss paychecks, though most employees get back pay when funding resumes.

  • Everyday services like passports, food aid, and national parks may be delayed or disrupted.


Who is most affected

  • Federal employees & contractors: Paychecks are paused, though employees usually receive back pay. Contractors often do not.

  • Families on food assistance: SNAP and WIC programs can face funding shortfalls if the shutdown lasts.

  • Travelers: Passport and visa applications may stall, affecting trip plans.

  • Students & researchers: Federal grants and projects may freeze, delaying studies and research.


How to prepare and cope

  1. Check benefit status: Confirm how your benefits (SNAP, Social Security, VA) will be processed. Agencies often post updates on their websites.

  2. Plan ahead for travel: Apply for passports and visas early, before processing delays mount.

  3. Stock up if on assistance: Families using WIC or SNAP should consider buying essentials early in case of disruptions.

  4. Talk to lenders: If youre a federal worker, ask mortgage or credit card companies about hardship options many offer temporary relief during shutdowns.

  5. Track agency announcements: Follow updates from the IRS, Social Security Administration, and other key offices for service changes.


Quick checklist

Verify your benefits or pay status
Adjust travel plans if passport/visa needs are pending
Stock up if relying on food aid
Contact lenders if paychecks may be delayed
Watch for agency updates online



Read More ...


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