Consumer Minute: New recall from GM & changes to credit scoring

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by Sandra Parker, 13News Now

WVEC.com

Posted on August 8, 2014 at 10:29 AM

Updated Friday, Aug 8 at 10:48 AM

General Motors is recalling SUVs that can catch fire. Close to 200,000 2006-2007 GM models are affected.  Owners are being told to park outside until the problem, which involves a power window switch that can catch fire, is fixed. That's because fires can start while the vehicles are unattended. The repairs to these recalled vehicles could take months because the parts won't be ready until October. Dealers are being told  to stop selling the used cars involved in the recall. 

A big change to credit score calculations could make it easier to get a loan. "FICO" is changing how it tallies credit scores, no longer including medical debt.  As of last month, more than 64-million consumers had a medical collection on their credit report. This new change is expected to boost consumer lending.

A Minnesota cafe is now adding a 35-cent minimum wage fee to its checks. It's in response to the state's minimum wage going up 75 cents. The cafe owner says that wage increase is going to cost him an extra 10-thousand dollars a year.  But it turns out adding that fee instead of boosting food prices has actually sparked an outrage.

 

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