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Consumer Federation of America

Many consumers are unaware of costs and fees related to gift cards

October 27, 2009 - 5:19am | News | Plastic cards
Many consumers are unaware of costs and fees related to gift cards

 The Opinion Research Corporation undertook a consumer survey which found widespread misunderstanding of general purpose gift cards. According to the Consumer Federation of America (CFA) commissioned the survey, "only 33 % of a representative sample of 1004 adult Americans know how much these cards cost to purchase, and only 54 % are aware that “six to twelve months after purchase, some of these gift cards charge a monthly fee.”
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charges | Consumer Federation of America | Consumer survey | gift cards | Opinion Research Corporation
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Consumers should be financially protected, according to lawmakers

June 24, 2009 - 2:22pm | Articles | Law aspects
Consumers should be financially protected, according to lawmakers

According to US lawmakers, there is a need to adopt a new financial product safety agency that would make sure consumer products such as mortgages and credit cards are safe and easy to understand. Travis Plunkett, legislative director of the Consumer Federation of America, said: "It has become clear that a major cause of the most calamitous worldwide recession since the Great Depression was the result of the simple failure of federal regulators to stop abusive lending, particularly unsustainable home mortgage lending."
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Consumer Federation of America | Consumer Financial Protection Agency
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1.3 million of Americans affected by check scam

May 28, 2009 - 9:04am | Figures | News
1.3 million of Americans affected by check scam

Consumer Federation of America new research found nearly one-third of American adults have been affected by fake check scams, usually involving fraudsters wanting to send them checks (for prizes, purchases or grants) and then asking them to wire back some of the money. 

The study also revealed that an estimated 1.3 million Americans have been taken in by the scams, having an average of $3,000 to $4,000 lost when they wired the money.
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checking scam | Consumer Federation of America | fraud | USA
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Splitting Direct Deposit is the easiest way to save more money

May 4, 2009 - 2:20pm | Figures | News
Splitting Direct Deposit is the easiest way to save more money

This year experts advise to split your Direct Deposit between your checking and savings accounts if you want to save more money. National Direct Deposit and Direct Payment Month is celebrated annually in May. NACHA’s Marketing Management Group (MMG) coordinates the yearly campaign.
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Consumer Federation of America | direct deposit | Direct Payment | NACHA | save money
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