U.S. consumers are slightly more satisfied with their credit cards after a new disclosure law came into effect in February, with American Express being the top pick for the fourth year in a row, followed by Discover cards, an annual survey showed. The J.D. Power and Associates poll released Thursday showed that satisfaction rebounded from a 3-year low in 2009. Get the full story »
Filed under: Consumer news
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Fed sets mortgage disclosure, compensation rules
The Federal Reserve on Monday published new rules aimed at protecting consumers from abusive mortgage practices, including clearer cost disclosures and a ban on payments to mortgage brokers for steering borrowers into loans with higher interest rates.
The Fed said it would ban payments from lenders to brokers based on interest rates paid by borrowers or other loan terms. The final rule, which takes effect on April 1, 2011, will end the so-called “yield spread premium” payments blamed for pushing millions of borrowers into unaffordable loans. Get the full story »
J&J discloses more subpoenas over recalls
Johnson & Johnson disclosed Wednesday that the health products giant has now received multiple subpoenas from federal prosecutors related to repeated recalls of Tylenol and other consumer health products. Get the full story »
30% fewer miles for short United, American flights
United Airlines and American Airlines have both begun promotions that allow frequent fliers to use 30 percent fewer miles if they want to squeeze in some “short-hop” travel in the next few months. Both deals only apply to trips of 700 miles or less. Get the full story »
Intel settlement means cheaper computers … later
The Federal Trade Commission is trumpeting its settlement with Intel Corp. as a victory for consumers who have overpaid for computer chips for a decade, though computer buyers shouldn’t expect a sudden drop in prices.
The deal announced Wednesday represents the end to the harshest antitrust lawsuit Intel has faced yet from government regulators, and it imposes the strictest set of changes onto the way Intel does business.
AT&T launches Wi-Fi hot zone in Wrigleyville
AT&T is launching a Wi-Fi “hot zone” in Chicago’s Wrigleyville as part of a pilot program that seeks to supplement the company’s beleaguered broadband network.
This will be the third Wi-Fi zone set up by the company, which is setting up the zones in area with the highest traffic and mobile data use. The first pilot was launched in New York City’s Times Square in May and was followed by a hot zone in downtown Charlotte, N.C. Get the full story »
Microsoft to open store at Oakbrook Center
Young customers at the grand opening new Microsoft Store in San Diego’s Fashion Valley Shopping Center. (Microsoft)
Microsoft is planning to open a store at Oakbrook Center in Oak Brook by the end of the year, making the Chicago area one of just seven locations for the company’s new retail initiative.
The company announced the Oakbrook store last week at an analysts’ conference in Seattle and on its Microsoft Store Facebook page. Get the full story »
Group coupons overwhelm some businesses
Phu Bui stands in his Chicago nail salon featured ad on Groupon.com. He thought 1,000 customers would bite on the deal but instead, he had 5,146 responses. (AP/M. Spencer Green)
Local shops nationwide are pulling in thousands of new customers with group coupons online, but the deals can sometimes work too well, turning marketing into a game of retail roulette.
Some of the nail salons, restaurants and other small shops that have sold the coupons have risked both new and existing business as they struggled to handle the surge in clients.
July 30, 2010 at 4:48 p.m.
Filed under: Consumer electronics, Consumer news, Technology, Telecommunications, Wireless Software released for attacking Android phones
Two security experts said on Friday they released a tool for attacking smartphones that use Google Inc’s Android operating system to persuade manufacturers to fix a bug that lets hackers read a victim’s email and text messages.
“It wasn’t difficult to build,” said Nicholas Percoco, head of Spider Labs, who along with a colleague, released the tool at the Defcon hacker’s conference in Las Vegas on Friday.
Percoco said it took about two weeks to build the malicious software that could allow criminals to steal precious information from Android smartphones. Get the full story »
July 29, 2010 at 2:04 p.m.
Filed under: Consumer electronics, Consumer news, Retail, Technology, Updated, Wireless Amazon offers $139 Kindle for mass appeal
Amazon.com launched a cheaper, wireless-only Kindle Wednesday, betting that the $139 price will turn its latest electronic reader into a mass-appeal device as Apple Inc’s iPad gains ground.
The world’s largest online retailer and leading e-reader seller also revealed its third generation Kindle, some 21 percent smaller and 15 percent lighter than the previous version, but still priced at $189.
Amazon does not give sales figures for the Kindle, but said last week that its growth rate tripled after it cut its price on the device from $259 and said e-books were outselling hardcover books. Apple has said it sold more than 3 million iPads, starting at $499, since the product was introduced in April. Get the full story »
July 27, 2010 at 2:48 p.m.
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