The Clark Howard Podcast 03.03.25 The Consumer Financial Protection Bureau / Warehouse Club Competition
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Mar 3, 2025 Explore the role of the Consumer Financial Protection Bureau and its impact on consumer rights. Discover the shift in warehouse club popularity, with Sam's Club now topping customer satisfaction charts over Costco. Uncover tips for maximizing credit card rewards on big purchases and learn how leadership changes at Sam's have improved the shopping experience. Plus, get insights into maintaining your vehicle and strategies for boosting retirement savings. It's a blend of financial wisdom and retail trends!
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CFPB's Importance
- The Consumer Financial Protection Bureau (CFPB) is vital for everyday people facing financial issues with large institutions.
- It provides a platform for complaint filing and investigates systemic problems, acting as a crucial safeguard.
Credit Card Fee Tax
- Merchants aren't double-dipping when charging credit card processing fees and claiming them as business expenses.
- They report the full amount (item cost + fee) as revenue, with the fee offsetting as an expense.
Temu Return Issue
- A listener had trouble returning a $500 pressure washer to Temu due to poor customer service and lack of contact options.
- Clark suggests using Elliott.org for alternative contact methods and warns about the risks of buying from cheap Chinese sellers.