COVID-19

FTC Sends Letters Warning 35 More Marketers to Stop Making Unsupported Claims That Their Products and Therapies Can Effectively Prevent or Treat COVID-19

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The Federal Trade Commission announced it has sent letters warning 35 more marketers nationwide to stop making unsubstantiated claims that their products and therapies can treat or prevent COVID-19, the disease caused by the novel coronavirus. This is the sixth set of warning letters the FTC has announced as part of its ongoing efforts to … Read more

Betsy DeVos sued for seizing student borrowers’ paychecks in violation of the CARES Act: “We don’t care. We don’t have to.”

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Betsy DeVos, President Trump’s Education Secretary, doesn’t just think she’s above the law. She IS above the law. A few days ago, the National Consumer Law Center filed a class-action suit against Betsy DeVos and the U.S. Department of Education asking a federal judge to stop DeVos and DOE from garnishing student borrowers’ paycheck in … Read more

Millennials Get Financially Screwed the Most From COVID

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The COVID-19 pandemic is causing similar financial hardship for consumers around the world, but new research indicates that Millennials (those persons between the ages 26-40) are being challenged the most. A just-released TransUnion (NYSE: TRU) global report including seven regions on five continents found that three in four Millennials (76%) worldwide indicated their household incomes … Read more

I Got Laid Off, Lived on Credit, and Now Looking for the Best Way to Consolidate My Debt

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Question: Dear Steve, I was laid off for a year and tried to start a business. The same company hired me back this year and due to COVID the business was put in the back burner. I am an essential employee now. During that year due to not having a job and starting a business, … Read more

Survey: 80% of college students financially impacted by coronavirus

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aren’t spared from the effects. While many schools have sent students to live off campus or back home to their families, this doesn’t seem to have eased expenses for everyone. Likewise, job losses are adding to many students’ hardships. Student Loan Hero surveyed more than 1,000 college and university students to learn about how the … Read more

FTC Announces Latest Round of Letters Warning Companies to Cease Unsupported Claims that Their Products Can Treat or Prevent Coronavirus

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Continuing its efforts to protect consumers from scams and deceptive pitches related to the coronavirus (COVID-19) pandemic, the Federal Trade Commission today announced it has sent 10 additional letters warning companies, both in the United States and abroad, to cease making unsubstantiated claims that their products can treat or prevent coronavirus disease. The companies receiving warning … Read more

FTC, FDA Send Warning Letters to Seven Companies about Unsupported Claims that Products Can Treat or Prevent Coronavirus

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The Federal Trade Commission and U.S. Food and Drug Administration (FDA) have sent warning letters to seven companies allegedly selling unapproved products that may violate federal law by making deceptive or scientifically unsupported claims about their ability to treat coronavirus (COVID-19). The warning letters are the first issued by the agencies alleging unapproved and/or unsupported … Read more

Scammers Targeting Those Afraid About Coronavirus and Stealing Identities and Money

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Scammers are taking advantage of the coronavirus (COVID-19) pandemic to con people into giving up their money. Though the reason behind their fraud is new, their tactics are familiar. It can be even harder to prevent scams right now because people 65 and older aren’t interacting with as many friends, neighbors and senior service providers … Read more

Does Life Insurance Cover Coronavirus?

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Life insurance offers financial protection for your loved ones in the event that you die unexpectedly. When a pandemic becomes world news, you may start to consider the necessity of purchasing a policy or wonder how news of an outbreak might shape the policy you already have. A global health crisis like the widespread COVID-19 … Read more

Will Your College Die From COVID-19? It Just Might.

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Three presidents of elite colleges–Harvard, M.I.T., and Stanford–published an op-ed essay in the New York Times a few days ago, justifying their decisions to close their campuses. To increase social distancing during the coronavirus pandemic, the three university presidents wrote, they were forced to take drastic action: That meant turning university life upside down: suddenly … Read more

Federal Student Loan Interest Rates Suspended Until Further Notice

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In yesterday’s speech on the coronavirus crisis, President Trump announced he is temporarily waiving interest on all federal student loans. “I’ve waived interest on all student loans held by federal government agencies … until further notice,” Trump said in his speech “That’s a big thing for a lot of students that are left in the … Read more

Does Insurance Cover Coronavirus? Millennials May Know Best

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Covid-19 has spread throughout the globe and is now in the United States. The question now is: How prepared are Americans, and how worried are they about the flu-like disease that originated in Wuhan, China? ValuePenguin surveyed more than 1,000 Americans about the coronavirus outbreak, including questions about their worries, how much they have spent … Read more

The Coronavirus Might Just Kill Your Finances Before It Kills Anyone You Know

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The coronavirus, AKA COVID-19, might be more life-threatening to the those who least suspect and the old but the life implications might just kill the financial lives of a wide swath of people. Year-after-year the warnings come out about how much people save for an emergency. The results are never good. Bankrate reported in 2019 … Read more