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Author Archives: Research Department

New College Students – Avoid Getting Screwed on Bank Account

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Aug 26 2015 By Seth Frotman and Rich Williams If you’re a student starting college for the first time or transferring to a new college, you may be busy meeting new roommates and going through orientation. During these first few weeks, you may also need to get a checking or prepaid debit account. On campus, a bank account may be ... Read More »

    Peruvian Man Charged with Leading Conspiracy to Defraud and Extort Spanish-Speaking Consumers through Call Centers

    FBI

    A resident of Lima, Peru, was indicted by a Miami grand jury on fraud and attempted extortion charges for allegedly operating call centers that lied to and threatened Spanish-speaking victims in the United States, convincing them to pay fraudulent settlements.  Cesar Luis Kou Reyna, 40, was charged in a 33-count indictment with conspiracy, mail fraud, wire fraud and attempted extortion. ... Read More »

      Father and Son Among Four People Indicted in $2.9 Million Ponzi Scheme Involving Bogus Mortgage Sales in North Suburbs

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      CHICAGO—A father and son schemed with a Chicago attorney and a Lincolnwood businessman to sell $ 2.9 million in phony mortgages to more than a dozen duped investors, according to a federal indictment unsealed Tuesday. ALBERT ROSSINI, 67, the owner of Devon Street Investments Ltd., in Lincolnwood, plotted with BABAJAN KHOSHABE, 74, and Khoshabe’s son, ANTHONY KHOSHABE, 33, to fraudulently ... Read More »

        This Month’s Complaint Report: Credit Reporting Issues

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        Aug 25 2015 By Chris Johnson This month’s report puts the spotlight on credit reporting. Credit reports play a big part in major consumer lending decisions, including mortgage loans, auto loans, credit cards and private student loans. The largest three nationwide credit reporting companies (Equifax, Experian and TransUnion) maintain credit files on nearly 210 million U.S. consumers. In the past ... Read More »

          MSI Credit Solutions Warns of Recent Consumer Scam

          3D Press Release Crossword

          Frisco, TX (PRWEB) August 24, 2015 MSI Credit Solutions recently received a handful of concerns from consumers in regards to correspondence they have received about a delinquent loan. Victims of the scam say they are receiving calls and emails from the scammers, who claim to be with agencies such as the FBI, law firms, or state attorneys to make it ... Read More »

            Survey Discovers One-Third Of Seniors Depend Entirely on Social Security

            Every day wasted is money wasted. Make the tough choices young so you don't wind up broke, old, sick, and counting pennies.

            Alexandria, VA (PRWEB) August 20, 2015 One out of three Social Security recipients, about 31 percent, say they rely entirely on Social Security for all of their income, according to a new survey from The Senior Citizens League(TSCL). With Social Security benefits averaging $1,220 per month, this means an estimated 19 million retirees are living at or below 125% of ... Read More »

              Debt Consolidation USA Shares Financial Benefits Of House Downsizing

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              DebtConsolidationUSA.com enjoy lower property tax payments Past News Releases RSS Los Angeles-Long Beach, CA (PRWEB) August 21, 2015 Debt Consolidation USA shared in a recently published article how consumers would benefit in downsizing their house. The article titled “What Financial Benefits To Expect When You Downsize Your Home” points out some of the key financial benefits that come with choosing ... Read More »

                Former Chief Executive Officer of Financial Lending Company Sentenced to 97 Months of Imprisonment for Bank Fraud Scheme

                FBI

                Earlier today, John Murphy, the former Chief Executive Officer of Oak Rock Financial, LLC (Oak Rock), was sentenced in federal court in Central Islip, New York to 97 months of imprisonment. In December 2013, Murphy pled guilty to bank fraud after admitting that he had been lying to various financial institutions and investors regarding Oak Rock’s financial health since January ... Read More »

                  Former Manager of Telemarketing Room Pleads Guilty to Conspiracy and Money Laundering

                  FBI

                  ORLANDO, FL—United States Attorney A. Lee Bentley, III announces that Mark Gardner (28, Osteen) has pleaded guilty to conspiracy to commit mail fraud, wire fraud, and money laundering for his role in the operation of a boiler room. He faces a maximum penalty of 20 years in federal prison for the conspiracy count and up to 10 years’ imprisonment for ... Read More »

                    When You Make Student Loan Payments on an Income-Driven Plan, You Might be in for a Payment Shock

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                    Aug 17 2015 By Seth Frotman Earlier this year, we asked you to share your #StudentDebtStress story. More than 30,000 of you answered, telling us about payment processing problems, servicing transfer snags, customer service confusion, and obstacles for borrowers in alternative repayment plans. You can check out the comments that were posted. For borrowers who are experiencing financial distress and ... Read More »

                      Nevada Man Pleads Guilty to Aggravated Identity Theft

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                      SACRAMENTO, CA—Glenn Litton, 47, of Carson City, Nevada, pleaded guilty today to aggravated identity theft arising from false statements he made in an application for a United States Passport, United States Attorney Benjamin B. Wagner announced. According to court documents, on November 19, 2014, Litton submitted an application for a U.S. passport to a passport acceptance officer in Sacramento. In ... Read More »

                        NFCC Poll Reveals When Consumers Prefer to Shop for School Supplies

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                        National Foundation for Credit Counseling Parents who wait until the last minute to buy school supplies can run into some serious credit card debt if they aren’t careful. Washington, DC (PRWEB) August 12, 2015 Based on the results of a July National Foundation for Credit Counseling® (NFCC®) Financial Literacy Online poll, the calendar doesn’t have much of an influence on ... Read More »

                          Majority of Older Americans Say Social Security Benefits Not Keeping Up

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                          TSCL Chairman Edward Cates “The promise of Social Security to help retirees live more comfortably in retirement — is in danger,” says TSCL Chairman Ed Cates. Alexandria, VA (PRWEB) August 05, 2015 Social Security benefits are not keeping pace with rising household budgets, according to the majority of retirees participating in a new survey by The Senior Citizens League (TSCL). ... Read More »

                            Safe Money Resource Discusses the Biggest Threat to Retirement in…

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                            Biggest Threat to Your Retirement a person who is hit with a windfall will struggle more with preserving their wealth Cherry Hill Nj (PRWEB) August 04, 2015 In a recently published blog post, Brent Meyer, the co-founder and President of Safe Money Resource has indicated that the “sequence-of-return risk” is the biggest threat that can influence a long-term retirement strategy. ... Read More »

                              Operators of Bogus Credit Repair Scheme Settle FTC Charges

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                              Scammers Will Be Banned From Credit Repair Services Industry, Subject to a $2.4 Million Judgment The operators of a bogus credit repair scheme that allegedly tricked Spanish-speaking consumers into paying thousands of dollars each to supposedly improve their credit will be banned from offering credit repair services and subject to a monetary judgment under settlements with the Federal Trade Commission. ... Read More »

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