Credit Industry & Privacy News

Predatory Payday Lenders Impacting War Effort & Getting Governments Attention

2006-09-01T17:41:00.000-07:00

var myTag = new knocknok.Tag('http://financialprivacy.blogspot.com');myTag.output();Payday loans are a bad deal. The average interest rates for these loans typically range from 400% to 650%, and can run significantly higher than that. But when people need money to pay the rent or feed their children, the last thing that they are thinking about is what a loan is going to cost them. They are just

Number of Households Living Below Poverty Line Stops Growing, While Number of People with Health Insurance Plummets

2006-08-31T14:39:00.000-07:00

August 31, 2006 A new survey released by the Census Bureau showed that the number of American households living below the poverty line stopped growing for the first time since George W. Bush took office. The Bush administration quickly stepped forward to say that the survey clearly shows that its economic policies are working. But critics of the administration were just as quick to point out

Veterans Administration May Be Engineering Its Next Big Data Breach

2006-08-29T15:19:00.000-07:00

In May, the Veterans Administration was forced to announce that a computer containing the names, Social Security Numbers, and other personal information of 26.5 million veterans was missing. The laptop computer had been stolen from the home of a VA data analyst. As bad as the breach was, the VA was able to announce that the computer was recovered last month. Even more important was word that came

AT&T Broadband Customers May Want to Change Companies to Protect Their Privacy

2006-08-24T18:40:00.000-07:00

August 24, 2006 AT&T, the long distance carrier and internet service provider (ISP), is embroiled in privacy law suits due to its sharing of information with the National Security Agency (NSA). The company has engaged in what a number of attorneys have deemed "illegal activity" by providing the government access to customer voice traffic without a warrant. So in an attempt to avoid future law

Another Weak Data Breach Notification Law Moving Through Congress

2006-03-30T18:35:00.000-08:00

Yesterday, the House Energy and Commerce Committee voted 41 to 0 to move a new data breach notification bill to the full house for a vote. The bill, HR 4127, named the Data Accountability and Trust Act (DATA), would supposedly require companies that store consumer data in electronic form to notify consumers when their data is exposed without their permission. But once again, the special interests

Danger! Credit-Card Payment!

2006-03-28T16:26:00.000-08:00

by Paul JacobIt's easy to get INTO credit-card debt. Getting out of it can hurt, but is simple enough: pay it off. Problem solved.But wait. It's not so simple. Not any more.Retired schoolteacher Walter Soehnge and his wife, formerly of Texas, recently decided to clear their Platinum MasterCard account. The balance had risen to more than $6,500. So they paid it off.Good, but -- wait. Isn't this

Could Immigration Reform Gut Social Security or Cost You Your Job?

2006-03-27T14:08:00.000-08:00

If you think that immigration reform doesnt impact you directly, you may be very wrong. This week, the Senate is picking up this contentious topic. Their move follows the passage of an immigration bill in the House of Representatives that would make illegal immigration a felony and which excludes a guest worker program. But any version of the bill considered by the Senate is likely to include a

Utah Governor Signs New Credit Freeze Law

2006-03-23T16:07:00.000-08:00

March 23, 2006 – On Monday, Utah Governor Jon Huntsman, Jr. signed 16 bills into law. Among them is a credit freeze law with a unique twist. The law was supported by major consumer groups, but they are not the only ones who are happy with the law. The bill was supported by virtually every major business group in the state; making it an anomaly among the states that have already passed or are

Missing Tape With Consumer Data Causes ABN AMRO To Change Data Transfer Methods, Highlights Folly of Proposed Federal Legislation

2006-03-21T14:16:00.000-08:00

In November of 2005, ABN AMRO Mortgage lost a computer tape containing the financial information of more than 2 million residential mortgage clients. The tape was being used to transfer updated credit information to Experian; one of the three major credit reporting agencies. The tape had been shipped using DHL and disappeared while in transit. Although the tape was later recovered, the incident

Federal Government Declares War on Financial Privacy

2006-03-20T10:04:00.000-08:00

Has the federal government declared war financial privacy? The question is more than rhetorical. A variety of actions on the part of the federal government indicate that financial privacy is the last thing that it believes anyone has a right to. The latest indicator of this is a proposed IRS rule change that will allow your tax preparer to sell you tax data all of your tax data to the highest

The Great Congressional Sell Out Your Identity for Their Campaign Contributions

2006-03-16T12:03:00.000-08:00

March 16, 2006 You can call it anything you want but when the average American accepts money or gifts in return for favorable treatment, its referred to as a bribe. And when they accept bribes in the course of their jobs, its a criminal matter that can result in stiff fines and jail time. But in Congress, this kind of behavior is referred to as lobbying rather than corruption and it is

Checking Accounts and ChexSystems

2006-03-10T13:20:00.000-08:00

March 10, 2006 If you have never heard of ChexSystems, you are not alone. But if you have a checking account, its history is tracked in much the same way that credit reports track various lines of credit you may have. ChexSystems is the company that does this tracking, and the items that appear on your ChexSystems report should be just as important to you as your credit report. If the report

Be Careful Prior to Including Private Information in a Fax Message - Ask Before You Fax

2006-03-08T14:49:00.000-08:00

March 8, 2006 If you have ever used a fax machine then you probably assume that the person receiving a message you send is simply picking up a page that was printed on another fax machine. But more people and businesses are utilizing virtual fax machines to distribute the messages that they receive. And these types of services present new dangers for consumers that most people are unaware of.A

Data Stolen on Elderly Washington, DC Residents - An ACCESS Fraud Alert

2006-03-08T12:35:00.000-08:00

A server belonging to Georgetown University, and which was used to store data belonging to the DC Office of Aging (DCOA) was hacked into in late February. The server contained the names, dates of birth and Social Security Numbers of more than 40,000 elderly Washington, DC residents.

Another Congressional Sell Out

2006-03-01T14:46:00.000-08:00

March 1, 2006 ACCESS regularly makes note of proposed laws that subvert state regulatory authority. To date, most of these types of laws have had to do with matters of privacy and have specifically impacted the banking industry. For instance, FACTA makes it illegal for any state to place regulations on banks that prevent them from sharing your personal information with their affiliates. In

New Phishing Scam Targets Social Security Numbers An ACCESS Fraud Alert

2006-03-01T14:45:00.000-08:00

March 1, 2006 A warning was issued this week by Jo Anne Barnhart, Commissioner of Social Security. Consumers need to be on the lookout for a new e-mail phishing scam with the aim of separating you from both your Social Security Number and your banking information. The message appears to originate from the Social Security Administration.Targets of the scam receive an e-mail message with the

How Much is Your House Worth?

2006-02-28T10:24:00.000-08:00

If you have ever wondered what your home is worth, you are not alone. At some point, its something that virtually every home owner wants to know. Likewise for new home buyers. Now, there is a new way for you to find that information for free through Zillow.com. But users need to be careful when using their system as not all of the data used by the service is accurate. And virtually everyone

New Privacy Tool Available to Consumers

2006-02-23T19:06:00.000-08:00

If you have ever wanted to give someone a way to call you, without giving out your real phone number, there are a couple of new services on the market that may interest you. They allow anyone to setup a disposable phone number to protect their privacy. Better yet, the cost is very reasonable.MyPrivateLine.com and MyClassAdd.com both provide disposable, toll free numbers to anyone willing to pay

Bush Administration makes it Tougher for Consumers to Sue Companies

2006-02-21T08:32:00.000-08:00

February 20, 2006 Last week, the Consumer Product Safety Commission (CPSC) approved new rules that make it tougher for consumers to file law suits against mattress manufacturers. And last month, the FDA imposed similar rules, making it more difficult for consumers to sue drug manufacturers. These are just the latest moves from an administration and Congress that appear to be doing everything

27,000 Social Security Numbers Stolen from Blue Cross and Blue Shield of Florida An ACCESS Fraud Alert

2006-02-20T08:22:00.000-08:00

An outside contractor for Blue Cross and Blue Shield of Florida data on 27,000 customers and employees of the company. The data included Social Security Numbers. The contractor, who has not been named due to an ongoing FBI investigation, had been given access to one of Blue Crosss databases. That access was used to

Privacy Concerns with Google Desktop Search

2006-02-17T10:45:00.000-08:00

Google has just released the latest version of its desktop search software, and it some new features. One of them is the ability to share documents across multiple computers. While some may find this feature convenient, it may users to privacy intrusions or even worse. The new feature, called Share Across Computers

Are Insurance Companies Sharing Data On Homeowners Claims? Get at CLUE!

2006-02-16T18:17:00.000-08:00

If you own a home, you may want to think twice before filing a homeowners claim with your insurance company. That is because 90% of the insurance companies in the country now share claim information through two databases. One which is run by ChoicePoint, called CLUE. The other run by Insurance Services Office, called A-Plus. Typically, reports issued by either database are referred to as CLUE

How Much Do You Spend at Victorias Secret? The IRS Wants to Know!

2006-02-15T12:44:00.000-08:00

February 15, 2006 If you think you dont have much in the way of financial privacy right now, you are correct. Banks can disclose your information to their affiliate companies without your permission (You can thank Congress for that). Database companies gather, store and resell your information (including your Social Security Number) to the highest bidder. But if you think financial privacy is

RFID Chips in Passports Proven to be Insecure

2006-02-14T14:23:00.000-08:00

February 14, 2006 ACCESS has been concerned for months that the State Departments plan to include RFID chips in passports has not been well thought out. The original plan would have placed an RFID chip in every passport which would have contained unencrypted data about the passport holder. After a storm of protest, the State Department revised the standard to include some encryption. Now, a

Tax Time Fraudsters Working Overtime

2006-02-13T11:13:00.000-08:00

With tax time fast approaching, the scam artists are out in droves. They are using a variety of ploys to fool consumers and engage in identity theft. Although most of these tricks have been used in the past, consumers continue to fall for them.Most of the scams that people fall for use either e-mail or telemarketing to make contact. And many of them will claim that the contact is being initiated

Secure Flight Dies Again

2006-02-10T11:41:00.000-08:00

Yesterday, the Transportation Security Administration suspended work on Secure Flight; the agencies long awaited and very expensive airline passenger screening system. Development work on the system has been plagued with trouble for the past four years. And the system has faced stiff opposition from consumers concerned about privacy. But if Secure Flight has proven anything, it’s been that it has

Illinois Becomes First State to Launch Identity Theft Hotline

2006-02-09T14:51:00.000-08:00

February 9, 2006 Illinois Attorney General Lisa Madigan has announced that her office has launched an identity theft hotline. The hotline will be staffed with consumer advocates, with the specific task of assisting victims with repairing their credit. It is the first service of its kind offered by any state in the country.

Canadian Data Protection Laws Significantly Stronger than U.S.

2006-02-08T19:53:00.000-08:00

In the United States we have the Social Security Number. Unfortunately, access to Social Security Numbers is all too common, and the results can be devastating. Identity theft and ruined credit. The inability to get or keep a meaning full job. In the worst cases, severe stress that leads to breakup of families.

Property Casualty Insurers of New York Take Chicken Little Approach to Fight Credit Freeze Law

2006-02-07T13:07:00.000-08:00

If you remember the story of Chicken Little, when walking through the woods she was hit on the head with an acorn. She immediately jumped to the conclusion that the sky was falling and ran to inform the king. She obviously overreacted and was dead wrong. But Chicken Littles approach of jumping to the wrong conclusion still holds merit according to the Property Casualty Insurers (PCI) of

2005 Identity Theft Statistics

2006-02-03T11:29:00.000-08:00

February 3, 2006 Well the statistics are in, and 2005 was a banner year for identity theft according to the FTC. There were more than 685,000 complaints of fraud and identity theft, and $680 million stolen. But among the statistics, there are some bright spots.Of the complaints for fraud and identity theft received by the FTC, 37% were actually for identity theft and 63% were for fraud. Of the

Computer Worm Set to Attack Tomorrow - An ACCESS Fraud Alert

2006-02-02T09:04:00.000-08:00

February 2, 2006 A computer worm that is believed to have infected about 300,000 computers is set to attack tomorrow. The worm will begin destroying a variety of files on the computers that it resides on, including Adobe PDF files, Microsoft Word documents, and other files created in Microsoft Office.This worm is not new. It was originally release in 2004 using the name Nyxem.D and was designed

Can a Poor Credit Rating Keep You From Getting That Dream Job? You Bet!

2006-02-01T13:49:00.000-08:00

Over the past three years, millions of Americans have found themselves standing in the unemployment line at one time or another. Many companies have outsourced jobs overseas. The common myth that most of these positions are manufacturing jobs is no longer true. Many of the positions that are now being outsourced are high paying, white collar positions. This in combination with a downturn in the <

The Best and the Worst of Credit Freeze Laws

2006-01-31T16:39:00.000-08:00

January 31, 2006 In the new year, a variety of state legislatures continue to debate credit freeze laws. Among these are two states on opposite sides of the country that are working on unique credit freeze solutions. One of them is probably the best credit freeze law proposed in any state. The other is dumbest credit freeze proposal that we have ever seen.In Utah, there is low moan that can be

Beware of ATM Card Skimmers

2006-01-31T10:59:00.000-08:00

ATM card skimming has been around for years. Recently, police in Fort Worth, TX issued a warning to consumers to be on the lookout for card skimming equipment. Because card skimming is not limited to Texas, ACCESS believes that consumers nationwide need to be aware of what card skimming is, how it works, and how to prevent it.Thieves engaged in card skimming install sophisticated equipment to

New Approach to Medical Bills Does Little to Help Most Needy

2006-01-30T09:06:00.000-08:00

January 30, 2006 In his State of the Union Speech tomorrow night, President Bush will propose a new approach to dealing with soaring costs associated with health insurance. But the proposal he will make does little to make insurance more affordable at the consumer level, and does nothing to address the underlying causes for the steep rise in insurance prices. Those who dont have insurance for

ChoicePoint Hit with Fine for Data Breach

2006-01-27T09:46:00.000-08:00

January 27, 2006 Yesterday, the Federal Trade Commission announced that it had reached a settlement agreement to fine ChoicePoint $10 million. The fine is a result of two data breaches last year that exposed personally identifiable financial data of 160,000 consumers to identity thieves. The exposure led to more than 800 cases of identity theft.ChoicePoint also agreed to pay $5 million into a

Patriot Act Hits another Roadblock Due to Privacy Issues

2006-01-25T14:15:00.000-08:00

January 25, 2006 Last month, just prior to the Congressional holiday recess, renewal efforts for the Patriot Act ground to a halt. The law, which gives the federal government sweeping search and seizure powers that many believe to be unconstitutional, had sixteen very controversial clauses that were due to expire at the beginning of this year. The Bush Administration had been pushing Congress

Ameriquest Mortgage to Pay $325 Million Settlement in Predatory Lending Case

2006-01-24T08:43:00.000-08:00

January 24, 2006 Yesterday, Ameriquest Mortgage agree to pay $325 million in restitution to those who had borrowed money from the company. The agreement settles legal disputes with 49 states and the District of Columbia, and is the second largest in US history.Ameriquest had been accused of using predatory lending practices when making consumer home loans. The company, which is known for making

Google Defies Government on Privacy Issues

2006-01-23T10:51:00.000-08:00

Google, the 800 pound gorilla of search engines, is defying a subpoena by the justice department. The government is demanding that the company turn over one full week of user search data. But Google has said that it will fight the subpoena "vigorously" because the company fears the ramifications to privacy for the twelve million people who use the company’s website every single day.The Justice

Economic Survival in a Natural Disaster

2006-01-21T01:34:00.000-08:00

Economic Survival in a Natural Disaster

Credit Industry & Privacy News

Predatory Payday Lenders Impacting War Effort & Getting Governments Attention

Number of Households Living Below Poverty Line Stops Growing, While Number of People with Health Insurance Plummets

Veterans Administration May Be Engineering Its Next Big Data Breach

AT&T Broadband Customers May Want to Change Companies to Protect Their Privacy

Another Weak Data Breach Notification Law Moving Through Congress

Danger! Credit-Card Payment!

Could Immigration Reform Gut Social Security or Cost You Your Job?

Utah Governor Signs New Credit Freeze Law

Missing Tape With Consumer Data Causes ABN AMRO To Change Data Transfer Methods, Highlights Folly of Proposed Federal Legislation

Federal Government Declares War on Financial Privacy

The Great Congressional Sell Out  Your Identity for Their Campaign Contributions

Checking Accounts and ChexSystems

Be Careful Prior to Including Private Information in a Fax Message - Ask Before You Fax

Data Stolen on Elderly Washington, DC Residents - An ACCESS Fraud Alert

Another Congressional Sell Out

New Phishing Scam Targets Social Security Numbers  An ACCESS Fraud Alert

How Much is Your House Worth?

New Privacy Tool Available to Consumers

Bush Administration makes it Tougher for Consumers to Sue Companies

27,000 Social Security Numbers Stolen from Blue Cross and Blue Shield of Florida  An ACCESS Fraud Alert

Privacy Concerns with Google Desktop Search

Are Insurance Companies Sharing Data On Homeowners Claims? Get at CLUE!

How Much Do You Spend at Victorias Secret? The IRS Wants to Know!

RFID Chips in Passports Proven to be Insecure

Tax Time Fraudsters Working Overtime

Secure Flight Dies Again

Illinois Becomes First State to Launch Identity Theft Hotline

Canadian Data Protection Laws Significantly Stronger than U.S.

Property Casualty Insurers of New York Take Chicken Little Approach to Fight Credit Freeze Law

2005 Identity Theft Statistics

Computer Worm Set to Attack Tomorrow - An ACCESS Fraud Alert

Can a Poor Credit Rating Keep You From Getting That Dream Job? You Bet!

The Best and the Worst of Credit Freeze Laws

Beware of ATM Card Skimmers

New Approach to Medical Bills Does Little to Help Most Needy

ChoicePoint Hit with Fine for Data Breach

Patriot Act Hits another Roadblock Due to Privacy Issues

Ameriquest Mortgage to Pay $325 Million Settlement in Predatory Lending Case

Google Defies Government on Privacy Issues

Economic Survival in a Natural Disaster

Predatory Payday Lenders Impacting War Effort & Getting Governments Attention

Veterans Administration May Be Engineering Its Next Big Data Breach

The Great Congressional Sell Out Your Identity for Their Campaign Contributions

New Phishing Scam Targets Social Security Numbers An ACCESS Fraud Alert

27,000 Social Security Numbers Stolen from Blue Cross and Blue Shield of Florida An ACCESS Fraud Alert

How Much Do You Spend at Victorias Secret? The IRS Wants to Know!