You know what’s worse than having your password stolen? Having your phone number stolen. SIM-swapping, a type of identity theft, is a means for scammers to get access to your phone number and all of the personal accounts secured through it. The attacker calls a phone provider, pretending to be a customer, and asks to port the number they’re trying to steal to a new SIM card, possibly on a new provider. With your phone number, the attacker can access any personal information secured with your phone, including any platforms that send two-factor Authentication codes via SMS. Since these “cyberattacks” involve good old fashioned cons over the phone, the usual digital security measures we recommend will not save you.
Apex Capital Group Internet Marketers Settle FTC Allegations They Deceived Consumers With False Claims of “Free Trial” Offers and Unauthorized Continuity Plans
New York Attorney General Letitia James and 28 of her counterparts from other states banded together to let a federal agency know they want a proposed debt collection rule revised. James and other attorney generals said the rule undermines protections and overwhelmingly take advantage consumers in a letter to Consumer Financial Protection Bureau. The rule, which was proposed by the bureau in May on behalf of President Donald Trump’s administration, has been met with mixed reviews.
GOVERNOR CUOMO ANNOUNCES SUCCESS OF NEW YORK’S LANDMARK OUT-OF-NETWORK LAW PROTECTING CONSUMERS FROM SURPRISE MEDICAL BILLS
While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. By definition, a pawnbroker offers loans on items that are not accepted as collateral by traditional banks or lenders. Items that typically show up in pawn shops include jewelry, electronics and collectible items. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check. As a general rule, pawnbrokers are willing to lend 20 percent to 50 percent of what they assess an item to be worth, the borrower then has 30 days to pay the loan back, and the borrower can also opt to pay an additional fee (usually $100) to extend their loan for 30 days.
The Consumer Financial Protection Bureau is keeping its consumer complaints database public, in a surprising move that may assuage advocates’ concerns. The agency said Wednesday that it will continue to publish consumer complaints publicly, but that it was also make significant changes to the database. The move comes after the agency put out a call for public input on its consumer inquiry and complaint database in 2018 while it was under the direction of Mick Mulvaney, who now serves as the acting White House chief of staff. The move was seen as a sign that the agency would make the database private, a change that would be welcomed by many in the financial-services industry.