Hello Friends,
Welcome to an all-new 12 On Your Side newsletter, chock-full of consumer and money stories rounded up just for you!
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I hope you’re having an excellent start to your week and making great financial choices.
Here’s a roundup of the consumer and money stories you need to know about this week.
Consumer News
Fed to cut interest rates, Home Depot settles overcharges, OpenAI’s new model pushes boundaries
The Federal Reserve is expected to lower interest rates for the first time since 2020, providing relief from rising costs. Meanwhile, Home Depot is paying nearly $2 million after being accused of overcharging customers. And OpenAI reveals a new AI model that it claims can “think” like a person. Watch the latest consumer headlines segment here.
Consumer Product Safety Commissioners call for Shein, Temu to be investigated over safety concerns
While Shein and Temu have gained popularity for their affordability and fast direct-to-consumer shipping, many of the products sold on these platforms are imported, especially from China. This complicates the enforcement of U.S. safety regulations, making it harder for the Consumer Product Safety Commission to ensure that these goods meet American standards. Read more here.
FEMA, FTC offer free weather emergency, fraud prevention webinar on Tuesday
The federal government is providing a free webinar this Tuesday as part of National Preparedness Month to help people stay up to date with safety plans in a potential weather emergency or disaster. Find out more about this webinar here.
These cities top the list of must-visit destinations this fall
The summer may be over, but that’s not stopping travelers from jet-setting or hitting the open road to explore a new destination for the fall season. As temperatures drop, many seek picturesque getaways, especially in Europe, which is less busy in the fall than in summer. AAA shares which cities topped the list domestically and internationally. Read more here.
Which skin care products should young girls use? Dermatologists recommend this simple routine
Girls are bombarded on social media with advice from influencers touting elaborate skin care routines with high-priced serums, mists and creams. But what is the right skincare routine for preteens? Find out what the experts recommend here.
KSAT Money
US inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates
The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates and likely shaping the economic debate in the final weeks of the presidential race. Wednesday’s report from the Labor Department showed that consumer prices rose 2.5% in August from a year earlier, down from 2.9% in July. Read more here.
Got a suspicious email about student loans? Here’s how to spot a scam
There have been a lot of changes when it comes to federal student loans, and scammers are working to trick people amid the confusion to get money or information. The Federal Trade Commission said scammers will attempt to get your Federal Student Aid account credentials, so do not share your account information. Get more tips here.
Scammers working to trick students, parents into paying tuition they don’t owe
College classes may have already begun for most students, but that’s not stopping scammers from trying to trick students and parents into thinking they haven’t paid their tuition. The FTC said scammers are pretending to be from school financial aid or bursar offices and telling people their financial aid fell through and must pay the entire balance immediately. Read more about this scam alert here.
Pet care costs can add up. Here are some ways to save
Pet care expenses can pile up, especially if you have multiple pets. However, there are steps you can take to ease the financial burden and keep your pets healthy. Find out more here.
Consumer Reports
Check your pantry! Lead could be in your cinnamon
A pantry staple found in many of our kitchens may be toxic. That’s the alarming takeaway from a new Consumer Reports investigation into lead in ground cinnamon. In some cases, tests revealed high lead levels. Consumer Reports tested 36 ground cinnamon products and spice blends with cinnamon. Read more here.
Amazon faces pressure to improve recall notifications
You can use countless online marketplaces to buy products and get them delivered to your home, but few are as vast as Amazon, with millions of items available. It can be hard to know which products are safe and which ones could put your family at risk, but that could be changing. The pressure is now on Amazon to better notify shoppers of potentially defective, dangerous, and recalled products sold on its website. Read more here.
Is there rocket fuel in our food?
A new Consumer Reports investigation reveals a harsh chemical more commonly used by rockets, missiles, and explosives is making surprise appearances at your family’s dinner table, with potentially dangerous health consequences. Perchlorate can enter our food system through contaminated water used in crop irrigation and plastics used in food storage. Read more here.
Which used cars are worth the cash? Consumer Reports ranks best used vehicles
New car prices now average nearly a whopping $50,000. Maybe that sticker shock has you thinking long and hard about a used car. But navigating the used car market brings its own challenges. Consumer Reports released its first-ever brand ranking for used cars, helping you find the best, most reliable ride to fit your needs and budget. Read more here.