Consumer Minute: Bank of America's big fine & Twinkie plant closing

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by Sandra Parker, 13News Now

WVEC.com

Posted on August 21, 2014 at 8:58 AM

Bank of America has agreed to pay a nearly $17 billion settlement. It's in response to federal and state allegations that the bank sold risky mortgage-backed securities to investors that helped lead to the financial crisis.  This is the largest settlement in history between the federal government and a single company.  The deal would see billions going to the Department of Justice, several states; some would also go to reduce mortgage payments for struggling homeowners.  

UPS is warning that some of its customers' credit and debit information may have been exposed by a computer virus.  But the company says it is not aware of any fraud related to the attack. The only location in Virginia is Charlottesville; there are four in North Carolina -- in Durham, Matthews, Spindale and Clyde.

 

After 84 years, Hostess Brand announced that this October it will close the Illinois bakery where Twinkies were invented. The company blames a drop in demand for Twinkies.  Workers there say they've been working overtime. The company will offer a severance package and job placement services to the almost 400 employees affected.

It seems the tooth fairy is tightening her purse string.  The average price for a tooth these days is $3.40.  That's 30 cents less than a year ago, which comes out to about an 8% decrease.

 

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