Wednesday, August 12, 2020
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Have you ever noticed that when people say not to worry about money it usually means they’ve got a lot and you don’t? Here at the Wake Forest News we take money seriously and cover the topic like nobody’s bidness.

Royal Bank of Scotland Agrees to Pay $4.9 Billion for Financial Crisis-Era Misconduct

The Justice Department announced today a $4.9 billion settlement with The Royal Bank of Scotland Group plc (RBS) resolving federal civil claims that RBS misled investors in the underwriting and issuing of residential mortgage-backed securities (RMBS) between 2005 and 2008. The penalty is the largest imposed by the Justice Department for financial crisis-era misconduct at a single entity under the ... Read More »

Back to school? Time to talk online safety

You probably have a list of things to get done before your kids get back to school. It may include getting school supplies, figuring out carpools, and scheduling afterschool programs. There’s one more thing we hope you can squeeze into your list – talking to your kids about being safe online. Your kids are probably online all throughout the year, ... Read More »

Pennsylvania Goes After Mortgage Modification Scam and Names Individuals and Firms

“Attorney General Josh Shapiro today announced a lawsuit against five Pennsylvania mortgage foreclosure companies and two company owners for deceiving consumers into signing contracts to have their mortgage loans modified – and never delivering the services paid for. In some cases, homeowners instructed by the scammers to not pay their mortgages ultimately lost their homes in sheriff’s sales. The Office ... Read More »

FTC Action Halts Phony Grants Operation

Defendants allegedly took millions of dollars from consumers seeking help with paying debts and personal expenses. At the Federal Trade Commission’s request, a federal court has halted a telemarketing scheme that took at least $3 million from consumers, including elderly and disabled persons, who sought help with paying personal expenses, such as credit card debts, medical bills, and home repairs. ... Read More »

Student Loan Ombudsman at CFPB Can’t Take the BS Anymore. Quits in Scathing Letter Telling Director Mulvaney He Sucks.

Seth Frotman, an Assistant Director and Student Loan Ombudsman at the Consumer Financial Protection Bureau, told CFPB Director Mick Mulvaney to shove it and quit in an honest resignation. His experience inside the slowly gutted consumer protection agency was enough to say he’s mad as hell and not going to take it anymore. Frotman’s resignation letter said, “It is with ... Read More »

Tips to Avoid Getting Mugged at the Gas Pump

With the summer travel season in high gear, the FTC is warning drivers about skimming scams at the pump. Skimmers are illegal card readers attached to payment terminals. These card readers grab data off a credit or debit card’s magnetic stripe without your knowledge. Criminals sell the stolen data or use it to buy things online. You won’t know your ... Read More »

Scammers Impersonate Celebrities on Social Media

Did your favorite celebrity reach out to you on social media? Before you get too excited, are you sure it’s that person? Really sure? We’ve heard reports that scammers, who will try just about anything to separate you from your money, are now posing as celebrities on social media. They’re asking fans to send money for all kinds of supposed ... Read More »

5 Unfair Debt Collection Practices to Watch Out For

5 Unfair Debt Collection Practices to Watch Out For, by Financial Rescue, LLC. When you stop making payments on your outstanding debts, your creditor will either assign your debt to a collection agency or sell it to debt buyers who try to collect the money you owe. They do this because your creditor has already exhausted all the means available ... Read More »

What You Need to Know About a 401k Force Out

One of the benefits of writing about personal finance is that, when I find myself in frustrating financial situations, I at least enjoy the silver lining of getting an article out of it. This is what I had to remind myself of yesterday as I spent a nice chunk of my morning on the phone with Wells Fargo. Why? Well, ... Read More »

U.S. Department of Education Proposes Overhaul of Gainful Employment Regulations

WASHINGTON—The U.S. Department of Education today announced a Notice of Proposed Rulemaking (NPRM) that proposes to rescind Gainful Employment (GE) regulations in order to provide useful, transparent higher education data to students and treat all institutions of higher education fairly. “Students deserve useful and relevant data when making important decisions about their education post-high school,” said U.S. Secretary of Education ... Read More »