Government cracking down cash back fees at Kroger
INDIANAPOLIS (WISH) — Here is a look at Wednesday’s business headlines with Jane King, where she discusses how the government is trying to stop stores like Kroger and Dollar General from slamming customers with cash back fees.
Kroger cash back fees draw attention from consumer agency
The Consumer Financial Protection Bureau says Kroger and two major discount retail companies levy fees against consumers when they withdraw cash during transactions using their debit or prepaid cards.
The CFPB says it observed that Kroger, Dollar General and Dollar Tree, Inc. impose “cash back” fees on customers.
The fees ranged from 75 cents to $3.
The collective amount that the three companies charge in cash back fees totals an estimated $90 million annually, according to the CFPB.
FTC: Identity thieves are targeting children
We tend to think minors are immune from identity theft, but the Federal Trade Commission says it accounted for 3% of all identity theft reports for the first half of 2024.
That may not seem like much, but the FTC says the rate has been rising over the past three years.
One way to protect your child is to lock their credit at the three major credit reporting bureaus — Experian, Equifax, and Transunion — or check to see if your child even has a credit report.
25% of Gen Z giving up pets due to finances
Gen Z is being forced to give up their pets due to financial concerns, according to a new study from LendingTree.
Across the country, 12% percent of Americans said they had surrendered a pet because they could no longer afford to take care of it. For Gen Z, that was a much more substantial number at 25%.
Researchers say inflation has left many people with less disposable income. When that happens, you have to make difficult decisions and prioritize your money.
Survey: Americans say the price of happiness is $200K
What is the price of happiness? $200,000, according to one recent survey.
Financial advice website cardrates.com found that 56% of Americans say they would be content with a liquid net worth of over $200,000 dollars.
The researchers found that knowing you’ve got money set aside can ease worries about future uncertainties, whether a medical emergency or a layoff.
Taco Bell scrapping breakfast menu in some locations
Breakfast could soon disappear from the menu at your local Taco Bell.
Taco Bell told Fox Business it has given its franchisees the “choice to streamline menus by opting out of breakfast starting in October 2024” so they can have more flexibility to “focus on key drivers of growth.”
The fast food chain says breakfast “will continue to be served in the majority of taco bell restaurants.”