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November 28, 2008
In the news: ID Theft and credit cards
Over at the Washington Post, Brian Krebs has a story Thieves Stole Identities to Tap Home Equity. He calls it "high-tech" mixed with "old-fashioned con-artistry." The cases highlight what the FBI calls an "emerging scheme" afflicting the struggling real estate and mortgage market. In such crimes, thieves target people with good credit and large, untapped home-equity lines of credit, digging through public records -- such as property deeds and mortgages -- as well as publicly available Internet databases to obtain credit applications, credit reports and victim signatures. Meanwhile, over at USA Today, Byron Acohido reports in Support for consumer lending could curb predatory practices that:
The federal government's $200 billion plan to prop up consumer lending is likely to come with strings banks won't like: new regulations curtailing predatory lending practices. That new $200 billion bailout includes includes credit cards, student loans and auto finance.
Posted by Ed Mierzwinski at November 28, 2008 12:31 PM
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