U.S. Government News

Government Free Credit Reports

Mon, 06 Feb 2012 11:42:56 PST

It's never too late, or too early, to get your financial house in order, and a great way to start is with a review of your credit reports. You are entitled to a free report from each of the three reporting agencies once a year. But don’t fall for offers of free reports that aren’t really free. There is onlyone authorized source to get your free reports under federal law

Payday Loan Refund Checks: FTC Returns Almost $2 Million to Payday Loan Applicants Who Were Tricked into Buying Prepaid Debit Cards

Wed, 31 Aug 2011 07:28:02 PST

The Federal Trade Commission is mailing more than 110,000 refund checks to consumers defrauded by an online operation that tricked payday loan applicants into paying for an unrelated debit card. The FTC alleged that payday loan marketers Matthew Patterson, Mark Benning, Jason Strober, and Swish Marketing, Inc., worked with debit card marketers Jerry Klein, Joshua Finer, and VirtualWorks, LLC, to design the deceptive payday loan application form that triggered a charge of up to $54.95 for a prepaid debit card with a zero balance.

Credit Cards: Read the Fine Print Before You Sign Up

Mon, 16 May 2011 11:19:10 PST

Not all credit cards are alike. That's why it's important to carefully review a card's terms and costs before you sign up for it.

Bank Overdraft Fees Policy: Your Guide to Preventing and Managing Overdraft Fees

Wed, 16 Feb 2011 20:22:18 PST

An overdraft can occur when you try to spend more money than you have available in your checking account. For example, let’s assume you have $40 in your account. You ask the phone company to electronically deduct $35 from your checking account to pay the bill. You now have $5 available. Next, you use your debit card to make a $10 purchase.

Loan Modification Scam: California Files Lawsuit

Thu, 07 Oct 2010 02:50:37 PST

Brown filed the $60 million lawsuit against US Loan Auditors, My US Legal Services, and five individuals, including two attorneys, who operate a fraudulent mortgage audit scheme that preys on desperate homeowners anxious to save their homes.

What If Your Bank Fails? First, Stay Calm

Thu, 09 Sep 2010 02:30:01 PST

"While news that your bank has failed can be scary, federal law makes it clear that deposits within the federal insurance limits are completely safe," said Janet Kincaid, an FDIC Regional Ombudsman. "In addition, the FDIC works diligently - even before the bank is closed - to ensure that the event goes smoothly."

Credit Card Security: Dave & Buster's Settles FTC Charges it Failed to Protect Consumers' Credit & Debit Card Information

Thu, 25 Mar 2010 12:15:37 PST

Entertainment operation Dave & Buster's, Inc. has agreed to settle Federal Trade Commission charges that the company left consumers' credit and debit card information vulnerable to hackers, resulting in several hundred thousand dollars in fraudulent charges

Investment Scheme: SEC Charges Lawyer in Scheme Promising Investors Returns as High as 4,900 Percent

Thu, 18 Mar 2010 17:51:22 PST

The Securities and Exchange Commission today charged a South Carolina-based attorney and a cohort with securities fraud for bilking investors in a high-yield investment scheme that promised rates of return as high as 4,900 percent in just two months.

Hedge Fund Fraud Father and Son Team Charged

Mon, 11 Jan 2010 18:02:09 PST

The Securities and Exchange Commission today charged two Sarasota, Fla.-based investment advisers with securities fraud for misleading investors about the financial condition of three hedge funds they managed, and misrepresenting that they controlled the funds' investment and trading activities when in fact they were being handled by Arthur G. Nadel.

Prepaid Cards: Another Way to Pay, But Understand the Downsides

Thu, 10 Dec 2009 04:55:19 PST

It's hard to visit a retail store today without finding a sales display for products broadly known as stored value cards or, more commonly, prepaid cards.

Debit vs. Credit Cards: How They Stack Up

Wed, 18 Nov 2009 12:14:36 PST

Debit cards, which work like electronic checks, are becoming more widely used as an alternative to credit cards to pay for goods and services. To help you better understand how the two types of cards work and the potential benefits and concerns, we offer this quick guide.

SEC Charges Madoff Computer Programmers

Fri, 13 Nov 2009 08:17:44 PST

The Securities and Exchange Commission today charged two computer programmers for their role in helping convicted Ponzi schemer Bernard L. Madoff cover up the fraud at Bernard L. Madoff Investment Securities LLC (BMIS) for more than 15 years.

If You’re off to College, Learn to Keep Your Credit Card in Your Wallet: Tips for Managing Your Money

Fri, 28 Aug 2009 09:01:58 PST

In the midst of the worst economic times in years, many of today’s college students are turning to credit cards to finance their college education, using them for everything from everyday necessities to books and tuition. But now more than ever students need to resist the temptation to use their credit cards to make up for the lack of cash in their wallets, according to the Insurance Information Institute (I.I.I.).

Credit Card Rate Reduction Scam: Operates Banned by FTC

Thu, 09 Jul 2009 16:24:05 PST

At the request of the Federal Trade Commission, a U.S. district court judge has imposed a telemarketing ban on a Canadian operation that targeted U.S. consumers with false claims that it could reduce their credit card interest rates.

'Credit Repair' Operation Settles with FTC; Company Made False Claims

Thu, 25 Jun 2009 12:18:14 PST

A federal court has ordered a credit repair operation and its principals to stop making false claims and requiring advance payment for credit repair services

SEC Charges Evergreen for Overvaluing Holdings in Mortgage-Backed Securities and Making Selective Disclosures to Investors

Mon, 08 Jun 2009 13:11:12 PST

Evergreen agreed to pay more than $40 million to settle the SEC’s charges without admitting or denying the findings in the SEC’s order.

FTC Sues Mortgage Foreclosure 'Rescue' Operation That Targeted Spanish-Speaking Consumers

Wed, 27 May 2009 12:07:36 PST

The Federal Trade Commission has charged a mortgage foreclosure "rescue" operation with falsely promising Spanish-speaking consumers who are behind on their mortgage payments that it would stop foreclosure

Property Tax: California Sues to Block Property Tax Rip-Off

Wed, 13 May 2009 10:38:01 PST

The brothers billed tens of thousands of homeowners throughout California nearly $200 each for property tax reassessment services that were almost never performed and are available free of charge from local tax assessors.

Class of 2009 Needs to Get High Marks in Managing Finances

Thu, 07 May 2009 10:12:10 PST

Faced with a challenging job market and thousands of dollars in student loan and credit card debt, many of this year’s college graduates must take positive steps to protect their credit score, according to the Insurance Information Institute (I.I.I.).

Bounced-Check Fees: Protecting Yourself from Overdraft And Bounced-Check Fees

Wed, 22 Apr 2009 12:01:41 PST

If you use debit or check cards to make most of your purchases, you might know how easy it is to overdraw your bank account and get hit with an overdraft charge.