Sallie Mae Lawsuit Cell Phone?

BOSTON — Calling it the first of its kind in the nation, Attorney General Martha Coakley yesterday alleged in a lawsuit that five nationwide ...

Starwatch Consumer | Sallie Mae to offer fixed-rate private loans

<span class="subhead">Sallie Mae to offer private fixed-rate loans</p><p></span>SLM Corp., the student lender known as Sallie Mae, plans to offer its first fixed-rate private loans this month to compete with government-backed loans, which have more protection for borrowers.</p><p>Interest rates on the loans will range from 5.8 percent to 12.9 percent, depending on credit history and underwriting standards, SLM said Monday. The rate on the government&#x2019;s Stafford unsubsidized student loan, which is set by Congress, is 6.8 percent.</p><p><span class="subhead">Student loan debt oversight criticized</span></p><p>The U.S. Education Department must step up its oversight of private student loan debt collectors, improving the tracking of borrower complaints and changing its commission system to reward customer service, a report found.</p><p>Contractors hired by the government to chase defaulted borrowers fail to maintain &#x201C;fair and efficient&#x201D; systems to track complaints, according to the report, released Monday by the National Consumer Law Center, a Boston-based nonprofit advocacy group. The department weighs collection, rather than complaints, too heavily in awarding contracts, it said.</p><p><span class="subhead">Ford tire settlement</span></p><p>A settlement has been reached in a lawsuit against the Ford Motor Co. that alleged defects in tires on the Ford Bronco II were a substantial factor in a crash that left a Montana man paralyzed and with cognitive impairment. </p><p>The Great Falls Tribune reported that terms of the settlement with Bryan Mizenko have been sealed. Last month, a jury voted 11-1 that defects in a Firestone tire were a factor in a 2003 crash. Both Firestone and the used car dealer where Mizenko bought the vehicle settled out of court. Mizenko argued the accident was one of several caused by tread belt separation on this type of Firestone tire. </p><p>Ford argued that Mizenko&#x2019;s tire failed because it was 14 years old and had been damaged. </p><p><span class="subhead">AT&T is launching home security services</span></p><p>AT&T said it will start selling home automation and security services nationwide, taking on incumbents led by Tyco&#x2019;s ADT. </p><p>The installations and services will be sold in AT&T stores, starting with a trial this summer in Dallas and Atlanta. </p><p><span class="subhead">Verizon offers live video</span></p><p>Verizon Wireless has teamed with social media startup Color to let customers broadcast live video.</p><p>Smartphone users can download a free application, Color for Facebook, to live-stream 30 seconds of video over Verizon&#x2019;s fourth-generation LTE network, Bloomberg.com reported on its Tech Deals Blog. </p><p>Users can alert friends to the video through Facebook or a text message. In the future, the app will be installed on some phones, according to Color.</p><p><span class="subhead">Chrysler recall</span></p><p>Chrysler is recalling 119,072 cars after discovering that the antilock brake and electronic stability control systems can fail because of an overheated power supply. </p><p>The model year 2011 and 2012 Chrysler 300s and Dodge Chargers will have a fuse changed and relocated. Chrysler will cover the repair costs. </p><p>Vehicle owners can call Chrysler at 800-853-1403. </p><p> <span class="tagline_credit">Star news services</span>

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