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Latest Consumer News Daily Information Today Tuesday March 9 2010

Tue, 2010-03-09

1.  Consumers unaware of right to return online purchases.

Despite online purchases now accounting for 10% of total retail sales, UK consumers are unaware of their right to return goods, according to a newly published Government survey.  It  found that more than 60% of shoppers were less likely to take back goods purchased online, compared with items purchased direct from shops. Tellingly, consumers also showed their ignorance and confusion about their legal rights for both types of purchase when it comes to refunds. Many did not realise, for example, that those buying online had the extra right of a seven-day cooling-off period. UK consumers are Europe's biggest online shoppers, having spent £38bn last year, which accounts for 10% of total UK retail sales. FULL STORY (guardian.co.uk)

2.  The credit card that charged 60% interest - but a million people still applied for it.

Nearly 1m people applied for a credit card which charged interest of up to 60pc a year during 2009. Sub-prime lender Provident Financial received nearly 2,700 applications per day for its Vanquis Bank credit card last year, despite the high interest it charges. But 83pc of people who applied for the card were turned down, mainly because they were thought to have already taken on too much debt. The card is aimed at people who want to build up or repair their credit rating. Around half of people who take out the card are given a credit limit of only £250, while the maximum people can borrow on it is around £1,000. The majority of people are charged interest of 39.9pc on any outstanding debt, although a third of the cardholders are charged at the higher rate of 59.9pc.  FULL STORY (telegraph.co.uk)

3.  It's National Consumer Protection Week in the USA - plan is to make Consumers better informed.

This week it is National Consumer Protection Week  in the USA. It is  a week the government will devote to providing free resources and information to better inform consumers how and where to spend their money. President Obama's "Presidential Proclamation" in a March 5 White House press release explained that NCPW "gives all Americans an opportunity to become better-informed consumers."  He said: "I call upon government officials, industry leaders, and consumer advocates across our Nation to share information about consumer protection; and I encourage all Americans to learn more about marketing and business, whether they are shopping at their local store or in the global online marketplace." FULL STORY (chicagotribune.com)

4.  Four out of five consumers round the World see Internet access as a basic human right.

 Almost four in five people around the World believe that access to the internet is a fundamental right, a poll for the BBC World Service suggests. The survey - of more than 27,000 adults across 26 countries - found strong support for net access on both sides of the digital divide. Countries such as Finland and Estonia have already ruled that access is a human right for their citizens. International bodies such as the UN are also pushing for universal net access. FULL STORY (bbc.co.uk)

 5. Consumers slam irresponsible banks.

Newly published results from the Which? Big Banking Debate event reveal an almost total mistrust among consumers in the banks, with 96% of attendees agreeing the banks act more in their own interests than those of their customers. The event drew more than 300 consumers to discuss the major concerns they had about Britain’s banking sector, and offer views on how to reform the City. Several themes emerged from the night, with irresponsible lending, especially to those who are most vulnerable, a familiar topic. One consumer said: ‘Banks don’t value customers. They view us as cash cows.’  FULL STORY (which.co.uk)


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