BBB eye shut

The Better Business Bureau of Southern Colorado's "BBB Eye" monthly TV show on Comcast Channel 2 has been canceled. The show shared consumer tips and interviews with local business people. However, Comcast discontinued production of local shows effective Jan. 1, and so the BBB show was forced off the air.

Overhaul for BBB

The Better Business Bureau is changing the way it approves businesses by moving from a pass/fail system to a letter-grade system from A-F, the agency announced today. This would help consumers make a more educated decision on who to do business with while making businesses shape up more to earn a higher grade. As usual, input from consumers is a part of this grade so if you have a problem with a business be sure to report it to the BBB (bbb.org). Also, BBB members will now be called "accredited" instead of members as part of the BBB's effort to look deeper into the operations, ethics and credibility of businesses. The letter grades are expected by the first of the year.

Today's news comes at the start of BBB Week, a proclamation made by Mayor Lionel Rivera.

Watch out for deceptive mortgage ads, FTC warns

The Federal Trade Commission is warning mortgage brokers and lenders -- as well as media outlets carrying their ads -- that some advertising claims appearing on Web sites and in newspapers, magazines, direct mail, e-mails and faxes might violate federal law. “Many mortgage advertisers are making potentially deceptive claims about incredibly low rates and payments, without telling consumers the whole story -- for example, that these low rates and payments apply for a short period only and can go up substantially after the loan’s introductory period,” said Lydia Parnes, the FTC’s Consumer Protection Bureau director. Advertisers are being advised to review their ads and to read business and consumer education materials on the FTC’s Web site to learn about relevant laws and requirements, while media outlets are being alerted to potentially deceptive advertising. During the past decade, the FTC has brought 21 actions against companies in the mortgage lending industry, focusing in particular on the sub-prime market. Consumers can learn more by going to “Deceptive Mortgage Ads: What They Say; What They Leave Out,” available at www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt023.shtm. The information also is available by writing the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580. The FTC works for consumers to prevent and avoid deceptive and unfair practices in the marketplace; to file a complaint in English or Spanish (bilingual counselors are available to take complaints), or to get free information on any of 150 consumer topics, call (877) FTC-HELP or (877) 382-4357 or use the complaint form at www.ftc.gov/bcp.

You might want to skip dinar

The Council of Better Business Bureaus is warning consumers across the United States and Canada to be wary of purchasing foreign currency investments, particularly investment deals for the Iraqi Dinar, that country’s monetary unit. The Better Business Bureau of Chicago and Northern Illinois has seen a recent spike in consumer complaints focused on Dinar investment through that area's United World Exchange. The BBB has received complaints from
from consumers in 33 states and eight countries, with many coming from military personnel claiming fraud over Dinar investment deals. The Better Business Bureau of Southern Colorado reports it is aware of one victim in this area. United World Exchange, doing business as "US Dinar," has been selling Iraqi Dinars through their Web site (www.usdinar.com) on the premise that buying the Dinars could be a great investment if the value of the Iraqi money were to increase. Consumers report that the company is not providing consumers with what they have purchased, nor is it giving the potential investors their money back.