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Misadventures in Money Management ( MIMM.gov ) is the CFPB’s virtual learning tool to help military personnel navigate ways to avoid financial pitfalls. Recently, the CFPB expanded the availability of MiMM.gov to all active-duty servicemembers, including those in the Reserve or the National Guard. This education tool uses the style of “graphic novel meets choose your own adventure” and lets people choose a financial path and see how the choice...

Celebrities, from movie stars to professional athletes, take to TV, radio, and social media to endorse a wide variety of products – sometimes even investment opportunities. But a celebrity endorsement does not mean that an investment is legitimate or that it is appropriate for all investors. It is never a good idea to make an investment decision just because someone famous says a product or service is a good investment. Celebrities, like anyone...

The next time users visit Facebook, things might not look different, but big changes are brewing behind the scenes. The FTC’s record-breaking $5 billion settlement requires Facebook to conduct a massive overhaul of its consumer privacy practices. The settlement also makes major changes to Facebook’s operations and CEO Mark Zuckerberg no longer has sole control over privacy. First, some background. Facebook is a social networking site, but it...

Tech support scammers want you to believe you have a serious problem with your computer, like a virus. They want you to pay for services you don't need to fix a problem that doesn’t exist. They often ask you to pay by wiring money, putting money on a gift card, prepaid card, or cash reload card, or using a money transfer app, because they know those types of payments can be hard to reverse. If you’re looking for tech support, go to a company you...

In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. Under a settlement filed today, Equifax agreed to spend up to $425 million to help people affected by the data breach. If you were affected by the Equifax breach, you can't file a claim just yet. That's coming. But you can sign up for FTC email alerts about the settlement at ftc.gov/Equifax. (Not sure that you were affected? The...

Phishing is when someone uses fake emails or texts – or even phone calls – to get you to share valuable personal information, like account numbers, Social Security numbers, or your login IDs and passwords. Scammers use this information to steal your money, your identity , or both. Scammers often use familiar company names or pretend to be someone you know. They pressure you to act now – or something bad will happen. The FTC’s infographic...

Scammers are good at what they do – and they target all of us. They hope to get people off balance just long enough to take advantage. In 2018, the Federal Trade Commission received more than 122,500 reports from military consumers – including current or former servicemembers or military spouses. The reports help us track how scams evolve and how they’re affecting the military and veterans communities. If you spot a possible scam, talk about it...

Gift cards are a convenient way for scammers to steal money from you. Many different kinds of imposters ask you to pay with gift cards , and they all have an urgent need for you to send money right away. The callers will often tell you to go buy a popular gift card (like, iTunes, Google Play, or Amazon) at a particular store near you (like Walmart, Target, Walgreens, or CVS). They may even have you buy several cards at several stores. Sometimes...

If you answer the phone and hear a recorded message instead of a live person, it's a robocall. Technology has made it cheap and easy for scammers to make illegal calls from anywhere in the world, and to hide from law enforcement by displaying fake caller ID information. The robovoice may claim to be a utility, a government agency, or even a foreign consulate. Don’t believe them. Imposter scams often come by illegal robocall. Here are some steps...

It's Military Consumer Month! Did you know that scammers call and pretend to be from the Social Security Administration (SSA)? They say your Social Security number (SSN) has been suspended because of suspicious activity or it being involved in a crime. The FTC’s latest Data Spotlight finds that reports about SSA imposters are surging. People told us they lost $19 million to SSA imposters in the past year. Here's what to know: Your SSN is not...