Consumer Toolbox

Consumer Toolbox

Scams and Financial Abuse

Mortgage Modification and Foreclosure Rescue Scams

A recently released OCC Consumer Advisory here discusses avoiding common foreclosure scams, suggests ways consumers can avoid those scams and outlines federal rules to protect homeowners from such schemes.

The Making Home Affordable program has posted a resource here on avoiding this type of scheme

Payday Loans
The Consumer Federation of America provides information about high-cost small dollar loans, including payday loans, car title loans, bank overdrafts, and refund anticipation loans here. For payday loans, consumers can click on their state to check the legal limits and requirements that apply and to find contact information for their state regulators. Research and reports, testimony and consumer advice are also available on the website.

Advanced-Fee Loan Scams

Ads and websites that guarantee loans or credit cards, regardless of your credit history can be tempting. The catch comes when you apply for the loan or credit card and find out you have to pay a fee in advance. The FTC, the nation’s consumer protection agency offers tip-offs to rip-offs here. They have also created a "teaser" website for a fictitious lending company here that explains how to spot and avoid loan scams. The website is part of the agency's consumer education campaign to help consumers manage their money and learn to recognize scams

FDIC Consumer Alerts
These real-time alerts provide information and warnings about frauds and scams. Click here to see recent alerts.

Check Fraud
Banks are always thinking of ways to detect forged checks and prevent their payment. Banks train their employees to watch for telltale signs of criminal activity, but consumers play a big role in preventing the fraudulent use of their accounts too. The GBA recommends you take the precautions covered here to avoid becoming a victim.

Email Scams and "Phishing"
Click here for more information about e-mail scams and "phishing," published by federal bank and thrift agencies to help identify and combat e-mail scams.

Identity Theft
Avoid becoming a victim of identity theft by following the suggestions outlined in a GBA article here

Click here to see what the U.S. Department of Justice recommends if you've been the victim of Identity Theft.

National Protect Your Identity Week
An initiative of the National Foundation for Credit Counseling and the Council of Better Business Bureaus, this week-long initiative usually taking place every October, put focus on the campaign’s web site and community events promoting identity theft protection and education.

Bookmark or Share