Barbara Anthony, Undersecretary of the Office of Consumer Affairs and Business Regulation
Starting on Monday, we are going to feature here on our blog regular reports from Jayda Leder-Luis, who in preparation for new fees from her bank is going to try to get through November without using her debit card.
Jayda is one of our great Northeastern co-op students here at the Office of Consumer Affairs, and November should be an interesting month. On top of her regular tasks like grocery shopping and traveling to and from work, she will also be traveling home for Thanksgiving and maybe even starting her holiday shopping. She will be providing us regular updates as she avoids swiping her card at retailers, writing about near-misses and the trials and tribulations that will come with rolling back the retail clock a decade or so.
Like millions of others, Jayda is a Bank of America customer. The bank’s wide base allows her access to ATMs and branches both here in Boston and at her home in New York, certainly an importance convenience for college students and others who split their time between two places. But last month, Bank of America announced a new, $5 fee for using a debit card a point of purchase, whether it is used once a month or multiple times a day.
As you’ll hear from Jayda, she wants to try to avoid that fee, and is giving it a tryout in November. She is not alone, as many Bank of America customers are considering their options before the new fee goes into place. I look forward to seeing how her experiment works out, and reading her blog entries throughout November.
Gift Card Tips posted on Nov 23
Have you ever received a gift card as a present? Do you know what fees are associated with that card? Do you know when it expires? Do you know where to report if you have a problem? Many consumers buy gift cards for others, …Continue Reading Gift Card Tips
More than 6,600 Mass. consumers to receive refunds in mortgage lending settlement posted on Nov 20
The Massachusetts Division of Banks and 49 other state mortgage regulatory agencies have executed a Settlement Agreement and Consent Order with Prospect Mortgage, LLC. The California-based mortgage company is licensed in Massachusetts and wholly owned by Sterling Partners, a private equity firm. A multi-state examination …Continue Reading More than 6,600 Mass. consumers to receive refunds in mortgage lending settlement
Department of Public Utilities phone scam circulating in MA posted on Nov 19
The Office of Consumer Affairs & Business Regulation along with The Department of Public Utilities would like to inform consumers of a phone scam that is affecting Massachusetts residents. Residents are receiving calls from a business that is claiming to be a solar developer, …Continue Reading Department of Public Utilities phone scam circulating in MA