Consumer

ByHeart has recalled all of its baby formula nationwide after tests found 5 of 36 samples from three lots positive for Clostridium botulinum type A and the company said it "cannot rule out" contamination across all lots. The outbreak has sickened at least 31 infants in 15 states since August (with some ByHeart-fed infants treated as far back as Nov. 2024), at least 107 infants have received BabyBIG treatment since Aug. 1, regulators say some product remained on shelves despite the Nov. 11 recall, and ByHeart has expanded refunds to customers who bought from its website on or after Aug. 1.

Minnesota Rusco, a 70-year-old New Hope home‑improvement company, abruptly ceased operations after parent Renovo Home Partners filed Chapter 7 bankruptcy for itself and 19 subsidiaries, leaving employees — who received only three days of health insurance — and customers with unfinished work and large prepaid sums; court filings list $100–$500 million in liabilities against $1–$10 million in assets, and at least 10 lawsuits have been filed. Because Rusco was DLI‑licensed, affected homeowners must first sue and obtain a court judgment to seek reimbursement from Minnesota’s Contractor Recovery Fund, but recoveries are constrained by limits of up to $550,000 per licensed contractor (and $100,000 per consumer), and state officials are urging consumers to file complaints and dispute charges.

The Federal Reserve made its second rate cut of 2025, trimming the benchmark to about 3.9%. Consumers should expect top high‑yield savings rates to drift lower as banks pare offerings, mortgage rates—which recently fell to their lowest in over a year—may decline further while auto‑loan rates are likely to ease only slowly; the Fed projects another cut before year‑end and advisers say borrowers may want to consider refinancing or consolidating debt as rates fall.