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Consumers are taking on smaller home improvement projects as higher interest rates and inflation take their toll. Home Depot (HD) said Tuesday that sales fell 4.5% at stores open at least a year during its latest quarter, and its income decreased 6.4% from the same stretch a year ago. Total revenue for the quarter slumped 4.2% versus a year ago, to $37.3 billion. The retailer also cited

The US Federal Trade Commission has reportedly launched an investigation into whether OpenAI, the company behind popular AI chatbot ChatGPT, has violated consumer protection laws. The FTC sent OpenAI a 20-page request for documents covering concerns related to data privacy and reputational harm, according to a report Thursday from The Washington Post. The agency also asked for details on

U.S. consumer spending fell in December, putting the economy on a lower growth path heading into 2023, while inflation continued to subside, which could give the Federal Reserve room to further slow the pace of its interest rate hikes next week.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, dropped 0.2% last month, the Commerce Department said on

Bank of America, the second-largest U.S. bank by assets, engaged in deceptive practices that hurt hundreds of thousands of its customers in recent years, the Consumer Financial Protection Bureau said Tuesday.

The bank charged multiple $35 overdraft fees for the same transaction, failed to properly issue rewards to credit card users and signed up customers for card accounts without their