Consumer advocates are stopping cars with unpatched recall defects from resolving with their new owners.
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Federal law prohibits auto dealers from selling new, non-repaired cars, and rental agencies are prohibited from selling or renting them. Now consumer activists want the feds to ban auto dealers from retailing used cars with defective safety recalls.
Used car safety recall repair law Federals will be allowed to fine dealers who sell used cars that haven’t been repaired, even if no one is hurt or damaged.
These cars are time bombs, said Rosemary Chahan, president of the California nonprofit Consumer Organization for Automotive Reliability and Safety.
“In the case of the Takata airbags, they killed dozens of people and injured hundreds more,” Shahan said. “As time goes on, and as people get older, vehicles become more susceptible to this problem.”
Chahan singled out CarMax, the country’s largest used-car retailer, for selling cars with unrepaired security flaws, once they passed a 125-point safety check.
CarMax, in a statement, says they share “vehicle open recall information in-store and online to ensure our customers know about open recalls prior to purchase” and say the current repair recall system requires manufacturers to pay for repairs at dealerships, not via independent retailers who They are competitors.
Years ago, Chahan said, her group filed a complaint against CarMax with the Federal Trade Commission, but the FTC has ruled that it can continue to advertise cars as “safe” as long as they disclose.
“It is very disingenuous, especially when they announce that the vehicles have passed the examination,” Shahan said. “How can it pass the check, when it contains uncorrected security invocation defects?”
Shahan encouraged all potential car buyers to check out National Highway Transportation Safety Administration website To see if the car is under recall, and if so, drive away.
The Used Car Safety Recall Reform Act was introduced last year but has yet to receive a hearing or a vote.
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In the near future, regulators in Minnesota will decide whether companies like CenterPoint Energy can keep customer surcharges in place for the winter storm in 2021. Observers fear that utilities are tilting too much on price payers for higher natural gas prices.
In February of 2021, a winter storm in Ore caused prices to soar, and utilities serving Minnesota incurred significant costs as a result. But The Minnesota Citizens’ Facilities Council argues CenterPoint still generated more than $1 billion in revenue last year.
CUB’s senior regulatory attorney, Brian Edstrom, noted that the company had benefited financially from the merger of one of its subsidiaries, creating a story of two economies.
“Center Point shareholders have performed well,” Edstrom said. “And their advocates didn’t do well.”
He said there was no indication of price gouging. But CUB says that because some customers default, state regulators should force utilities to pick up at least part of the tab.
The company says it did not get windfall profits from the subsidiary’s deal. Two administrative law judges sided with the facilities, before making a final decision on the question of the additional cost of the bill.
While these companies have incurred exorbitant price costs, state results show they have not done enough to prepare for the situation, said Carly Weinman – director of research and communications at the Institute for Energy and Policy.
She said it was noteworthy CenterPoint’s CEO received $38 million in compensation last year.
“What we’re seeing is a real mismatch in the experience of the tool and the executives and customers it’s supposed to serve,” Weinman said.
She feels that the pending outcome of the regulatory review is something the public should watch closely.
“Especially at a time when we’re seeing a lot of conflict between families and between business owners,” Weinman said. “This is just pivitol’s place to get our attention.”
Customers are also encouraged to provide feedback to Public Utilities Authority before she makes her decision.
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With hurricane season in full swing, Pennsylvania officials are considering the effects of Hurricane Agnes 50 years ago, and are urging property owners to consider getting a Flood insurance to protect their homes.
Hurricane Agnes was the costliest storm to hit the United States at the time in 1972. It affected most of the East Coast, but Pennsylvania was hardest hit, destroying more than 3,000 businesses and 68,000 homes.
Michael Humphreys, acting insurance commissioner for Pennsylvania, said natural disasters create hardship and stress for landlords who are left to deal with their fallout.
“A lot of Pennsylvanians lost everything and didn’t have flood insurance to help them rebuild,” Humphries recounted. “Even if your property is outside of a federally defined flood risk zone, and you are not required to purchase flood insurance by your mortgage lender, you should consider flood insurance. Flood risk doesn’t go away just because you’ve paid off the mortgage.”
Just last summer, Tropical Storm Ida caused severe flood damage across the Commonwealth, with clean-up costs estimated at $100 million. People looking to buy a home or property should do their research before buying to determine if the area has experienced previous floods.
Randy Badfield, director of the Pennsylvania Emergency Management Agency, said flooding remains the most common natural disaster in the Commonwealth. Over the past 28 years, he said, 90% of flood incidents in the state have occurred outside the Special Flood Risk Zone, meaning places that have not experienced flooding before.
“Please take the first step and at least inquire about the cost of the policy,” Badfield urged. “You might be surprised at how expensive the policy can be, depending on your individual circumstances and the peace of mind it provides for you and your family.”
More information about the National Flood Insurance Program and other resources in the event of severe flooding is on the State Insurance Department’s website. In most cases, there is a 30-day waiting period after purchase before flood insurance policies take effect.
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Many recent high school graduates in Montana set off on their own, which means it’s likely to be their first time financially boarding. Some tips can help them manage their money better.
Ally Haegele is the Program Manager with Montana Community Development Credit Unions. First, she said, young people should understand their long-term financial goals.
Hegel said keeping the big picture in mind is an important way to formulate a budget, but she also noted that people should give themselves a blessing.
“Not budgeting so is an attempt so strict to achieve big-picture goals that you never go out to eat,” Hegel said, or never let yourself have a cup of coffee or any kind of indulgence you might allow yourself—especially if you’re young. Because then, they just set themselves up to fail on budget or get frustrated.”
Haegele said people can download free budget apps to help guide them with their finances.
Jordyn Rogers is deputy director of the Great Falls-based financial nonprofit Rural Dynamics. She said that young people transitioning to higher education may have some additional considerations when it comes to saving money.
For example, Rogers said, there are ways to save on textbooks.
“Consider renting textbooks at a fraction of the cost, and you can even do it with e-books over a period of time that you have access to,” Hegel said.
For all young people, Rogers said it’s important to become credit-qualified, because credit plays a huge role in people’s finances later in life.
She said the easiest way to do this is with a credit card – bearing in mind that you have to be responsible and know your own habits.
“Buying a gas card that can report positively to the credit bureaus, because you pay it every month, is a great way to build your credit usage and also pay a cost that you know will be there,” Haegele said.
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