Banking & Credit Cards
How banks, credit cards, and payment systems work. Covers products, rates, fees, regulations, and what consumers need to know to navigate the banking system.
Latest in Banking & Credit Cards
A California widow was about to wire $1 million to a crypto scammer until ChatGPT warned her it was fraud
A California widow came within hours of wiring nearly $1 million to criminals running a cryptocurrency investment scheme before a conversation with ChatGPT flagged the...
Anyone asking you to pay a fee to release your Amazon refund is running a scam, the FTC warns
The Federal Trade Commission is telling consumers that no legitimate party will ever charge a fee to release money owed from the $2.5 billion Amazon...
No court or federal agency will ever tell you to pay a bill through a Bitcoin ATM
Federal courts across at least three states and two national agencies have issued direct warnings to the public: no legitimate court, law enforcement office, or...
An Illinois woman lost nearly $1 million to a romance-investment scam and had to sell her home and belongings
An Illinois woman was forced to sell her home and personal belongings after losing nearly $1 million to a romance-investment scam that lured her into...
A Connecticut woman lost $900,000 in retirement savings to a scammer who prayed with her before draining her accounts
Jacqueline Crenshaw of East Haven, Connecticut, lost nearly $1 million after a scammer built an online romantic relationship with her, prayed with her over the...
Oak View Group is paying up to $5,000 to people hit by a data breach, with a flat $50 and an August 15 deadline
People whose personal information was exposed in a late-2023 data breach at Oak View Group can claim up to $5,000 in compensation, along with a...
Nearly 7 million borrowers on the SAVE plan must switch to a new repayment option as older plans disappear
More than 7 million federal student loan borrowers enrolled in the now-defunct SAVE repayment plan face a forced transition starting this month, with loan servicers...
Zero interest for up to 21 months is what a balance-transfer card can buy you to pay down debt
Consumers carrying high-interest credit card balances now face a direct choice: keep paying elevated rates or use a balance-transfer card offering zero percent interest for...
A text or call claiming you missed jury duty and owe a fine by gift card or Bitcoin is always a scam
Federal courts and law-enforcement agencies across the country are issuing fresh warnings about phone calls and text messages that claim recipients missed jury duty and...
A family code word can stop the AI voice-cloning scams that fake a grandchild’s emergency call
Criminals armed with cheap AI voice-cloning tools are calling grandparents, mimicking a loved one’s voice, and demanding emergency cash transfers. Two federal agencies, the FBI’s...
U.S. Series EE savings bonds double in value if you hold them 20 years
Savers who bought Series EE bonds after May 2005 at rock-bottom fixed rates are now approaching the 20-year mark, the point at which the U.S....
Flagstar Bank customers hit by a data breach can claim up to $25,000, with an August 11 deadline to file
More than 1.5 million people whose personal data was exposed in a Flagstar Bank network breach can now file claims worth up to $25,000 each,...
FMC customers can claim about $75, or up to $5,000 for losses, from a data breach by August 31
People affected by the FMC Services, LLC data breach that occurred on July 26, 2022, face a closing window to file claims for roughly $75...
A 70-year-old lost $84,000 to a fake McAfee security agent before police arrested the suspect mid-pickup
A 70-year-old Camarillo, California, resident lost $84,000 after someone posing as a McAfee security agent convinced the victim that hackers had compromised their bank accounts....
Scammers posing as Amazon and federal agents drained over $1 million from East Coast seniors, and three men are now under arrest
Three men are now in federal custody after allegedly draining more than $1 million from seniors in Virginia and Maryland through a scheme that paired...
A 76-year-old retired lawyer lost $740,000 in three months after scammers talked him into moving his savings to a “safe” account
A 76-year-old retired lawyer watched $740,000 drain from his accounts over three months after scammers convinced him to transfer his retirement savings into what they...
A 66-year-old wired $200,000 of his family’s savings to scammers who dangled a fake $7 million payout
A 66-year-old man sent $200,000 in family savings to scammers after they convinced him a $7 million prize was waiting for him. The scheme follows...
A phone-scam ring drained more than $5 million from 400 older Americans before agents shut it down
Thirteen people have been charged for running a phone-based “grandparent scam” that stole more than $5 million from over 400 older Americans, most of them...
A payable-on-death beneficiary lets a bank account skip probate and reach heirs directly
Bank account holders who add a payable-on-death beneficiary to their deposit agreements create a direct transfer channel that bypasses probate court entirely. Three states, Massachusetts,...
A Florida woman lost $200,000 to scammers before police staged a sting to catch the courier at her door
A Florida woman handed over $200,000 in cash to scammers who contacted her through fraudulent calls and electronic messages before local police set up a...