Rip-off News round-up. Our pick of the last week's media (Thu 6th September)

Save the Children say poorest UK children are now not getting regular hot meals and clothing

The charity says the UK's poorest children are bearing the brunt of the recession. The charity said: "It is shocking to think that in the UK in 2012, families are being forced to miss out on essentials like food or take on crippling debts just to meet everyday living costs." BBC NEWS

Squatting is now a criminal offence, punishable with jail or a fine

Ministers said it would offer better protection for homeowners and "slam shut the door on squatters once and for all". The maximum penalty will be six months in jail, a £5,000 fine, or both. But campaigners warned the new law could criminalise vulnerable people and lead to an increase in rough sleeping. BBC NEWS

("We simply will not allow people to live for free off the assets of others," said the government as yet another £50bn was injected into propping up the housing market.)

OFT launches review of "profiteering" by petrol retailers

Motorists have been offered the hope of cheaper petrol and diesel by the launch of an investigation into the fuel industry. When crude prices rise, so do pump prices. But when crude falls, the pump prices get trimmed at best. TELEGRAPH

("We do our best to smooth out oil price volatility. We start with smoothing out the troughs. Then we stop." said our contact in the petrol retail industry.)

FSA to crack down on incentives for bank sales staff

Report blames recent mis-selling scandals on dysfunctional staff incentive schemes, which fail to offer consumers the best deal. But the FSA has ruled out getting rid of incentive schemes altogether. GUARDIAN
("Calling the products 'Super', 'Super Duper' and 'I'm Rich, I'm Rich' had nothing to do with it," said some idiot at the FSA)

A quarter of people report being ripped-off by lettings agents, says Shelter

Housing charity says high fees and administration charges are the biggest rip-offs. They found cases of renters being charged more than £150 for repeat credit checks each year, which actually cost between £8 and £25 to perform. GUARDIAN

New Barclays chief fears interest-only mortgage scandal
Interest-only mortgages could become the next ‘mis-selling’ scandal, said Anthony Jenkins, potentially costing billions of pounds and engulfing the bank in customer complaints. Mr Jenkins was promoted because of his stunning performance from 2009 to 2012 as Barclays' Head of Retail.  DAILY MAIL
(...where he oversaw the selling of... interest-only mortgages!)

Retailers reeling as High Street and websites suffer Olympic Games slump in August

A dire update from the British Retail Consortium said the net effect of the games was minimal as store chains reported the worst sales growth this year. DAILY MAIL

(Those economists who predicted a 0.7% Olympic boost to the UK economy are now being investigated for being on drugs... performance or otherwise.)

'Big six' energy bosses defend against accusations of profiteering

The boss of British Gas rejected claims of overcharging and restricting competition. Phil Bentley told MPs that the UK had "the lowest gas prices in Europe". However Eurostat figures show this was only true in the first half of 2011, but not the second half. The "Big Six" energy suppliers are suspected of sophisticated financial fiddling to justify high prices. BBC NEWS
("...And sometimes we just hold the graph upside down. Simple, really." said our contact in the industry)

Disabled benefits claimants face £71 a week fines for breaching work plan

Government wants to increase penalties for sick and disabled claimants who fail to adhere to back-to-work agreements. GUARDIAN