Blog

If you need some fast cash, you may be tempted by ads touting online payday loans. But before you click on a link and share your personal information, I have a cautionary tale to share. There once was an online payday loan operation that promised to help people find loans. They claimed that they were affiliated with a network of 120 potential payday lenders, and that four out of five people who applied were approved. What’s more, they touted that 80 percent of applicants got loans in as little as one hour. Lies, I tell you. Lies!

Thinking of buying an IP camera to keep an eye on your home or business when you’re away? Or maybe you‘ve already set up a security camera that you can access remotely? If so, you’ll want to read this news from the FTC. TRENDNet, a tech supplier, has agreed to settle FTC charges that the company didn’t provide adequate security for internet cameras it marketed as a way to monitor “babies at home, patients in the hospital, offices and banks, and more.”

The FTC, the nation’s consumer protection agency, first warned consumers to be on the lookout for flood-damaged cars in the aftermath of Hurricane Sandy. Almost a year later, news reports indicate that water-damaged cars that endured Hurricane Sandy are being sold by private sellers and showing up on used car lots. AAA officials say nearly two-thirds of cars damaged in Hurricane Sandy are showing up in Virginia, New Jersey, New York, Pennsylvania, Florida, Texas, Kentucky, Louisiana, Illinois and Mississippi. These polished-up cars may look great on the outside, but the damage lurking on the inside from being submerged in corrosive saltwater for days will only lead to problems down the road.

So you’ve just reported to your first duty station and you’re thinking you could use a set of wheels. Just make sure you’re not the one who gets rolled. There’s an army of car salesmen camped outside your base. And their mission is to capture a large piece of your paycheck – and many paychecks to come. To navigate the minefield of car buying, keep these tips in mind:

On July 17 th, the National Association of Consumer Advocates (NACA) was proud to partner with the Federal Trade Commission (FTC), and other governmental agencies and advocacy organizations, to celebrate the first ever Military Consumer Protection Day at the U.S. Capitol Building in Washington, D.C. Military Consumer Protection Day is an organized, national promotion to equip service-members, veterans, and their families with the knowledge and resources they need to make positive consumer financial decisions and avoid fraud. The Military Consumer Protection Day’s Inaugural Congressional Information Fair on Capitol Hill provided an opportunity for NACA and other partner organizations to highlight the plethora of resources we have to offer service-member consumers and their families.

We’re all consumers and information is the first line of defense in the marketplace. Everyone can benefit from amping up their consumer know-how and getting the inside skinny on avoiding scams.

Today, the first Military Consumer Protection Day (MCPD), we’re joining 26 other federal, state government, and non-profit organizations – including the Department of Defense, the Federal Trade Commission and Military Saves – to highlight free consumer protection resources for military members. These resources can help servicemembers, military families, and veterans guard themselves against consumer fraud and make better-informed decisions when managing and spending their money.

Are you a Coast Guard service member who needs help with managing your personal finances? Have you tried to access certain resources to no avail? Are you currently having problems with budgeting, paying bills on time, accumulating debt, divorce and/or retirement planning? Well, you are in luck, Coast Guard has a Personal Financial Management Program dedicated to serving the great men and women of the Coast Guard to include their family members.

Because of their steady income, their highly mobile lifestyle, and the fact that they are held to higher standards of debt repayment under the Uniform Code of Military Justice, servicemembers can fall prey to a variety of scams including identity theft, telemarketing and phishing (which is when crooks attempt to get personal information from you that they can then use to defraud you). Scammers take advantage of those who are financially vulnerable and lacking in financial education.

As more individual investors consider adding futures and off-exchange foreign currency (forex) trading to their investment portfolios, it is essential that they find out as much as they can about a firm before opening a trading account. That’s why National Futures Association (NFA) has been working diligently to upgrade our investor research capabilities in an effort to provide greater transparency for futures investors and assist them in conducting due diligence.