According to the Federal Trade Commission, Medicare fraud costs taxpayers $60 billion a year. Fraudsters get away with it because most of the time, no one is stopping them. Here’s a real case, in which I personally spotted the suspicious billing that immediately looked to me like fraud. A family member we’ll call Tony had […]
Photo: Filip Maljković American International Group is planning to curb homeowners insurance sales for owners at high risk of floods, storms, or wildfires in 200 zip codes across the United States, according to a report in the Wall St Journal. AIG is the third major insurer in recently to announce cuts to homeowners insurance. “AIG’s […]
How is your Father’s Day going? Seventy-five percent of Americans are celebrating Father’s Day today. They’re spending a record $22.9 billion, according to a survey conducted for National Retail Federation. Consumers are spending $196.23 on average, up from $171.79 last year and topping the previous record of $174.10 in 2021. As in other years, the […]
Genetic testing, where a company examines your DNA, often from a saliva sample, and sends you a report about your family background or your likelihood for developing certain health conditions, is all the rage. It sounds like a great idea, but can you trust a company when it promises to keep your sensitive DNA data […]
Either I missed the Public Citizen report on the toll private equity is taking on U.S. health care or I didn’t understand the significance of it. The report, released in March 2023, says private equity takeovers have come with shocking lapses in safety, with prices rising faster than at non-private equity acquired entities, while patients […]
More than two thirds of online shopping scams begin on the social media platforms Instagram and Facebook, according to an analysis by the Lloyds Banking Group. Fraudsters are preying on shoppers in search of a deal. They’re creating fake business pages, social media ads, and online stores. Nick Drewe, of the online discounts platform Wethrift, offers this list […]
Financial institutions are increasingly using chatbots, which put out human-like responses using computer programming, to communicate with customers to save money. Chatbots sometimes have human names and use popup features to encourage interaction. Some chatbots use more complex technologies such as “artificial intelligence” to respond to customers. The Consumer Financial Protection Bureau has received hundreds […]
More than three quarters of adults have used a payment app, called a P2P or peer-to-peer or person-to-person app. Widely used nonbank payment apps include PayPal, Venmo, and Cash App. The apps can be used on a computer or mobile device to send money to someone else without writing a check or handing over cash. […]
It’s not surprising what last year’s top consumer complaint was. I’ve seen it many times as No. 1 on annual consumer complaint lists. It’s auto sales and repair. “Consumers rely on cars to get to work, school, doctors’ appointments and more,” said Erin Witte, director of consumer protection for the Consumer Federation of America. Complaints […]
On Memorial Day, I rushed over to REI to see what I could find at its “biggest sale of the year.” REI’s clothing, shoes, and other items are so expensive I only buy things when they’re on sale. I found a pair of sandals that I like, Keens, $97. Also the sleeping bag that I […]
