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February 2012, VOL II, Issue 12
In This Month's Issue

New Consumer Bureau, DoD Announces Scam Tracker 

 

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Army Sgt. 1st Class Russell Minta, senior noncommissioned officer for the Defense Department's Military Working Dog Breeding Program on Lackland Air Force Base in San Antonio, holds a puppy in his hand. The program provides working dogs to every service branch and numbers among the largest military breeding programs in the world. DOD photo by Linda Hosek

SCAM ALERTS!  

   

Scammers Target Investors Through Social Media Sites 
With the rise in popularity of social media sites, such as Facebook, Twitter and YouTube, many scammers are finding it easy to sell fraudulent investment scams to unwary investors. The Texas State Securities Board issued a release last September advising people to be wary of social media investments scams.  

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BBB Warns of Do Not Call Phone ScamPhishing  

Better Business Bureau warns consumers that scammers are making phony phone calls claiming to represent the National Do Not Call Registry.

  

According to DoNotCall.gov, "The calls claim to provide an opportunity to sign up for the Registry. These calls are not coming from the Registry or the Federal Trade Commission, and you should not respond to these calls. To add your number to the Registry you can call 888-382-1222 from the phone you wish to register, or go click on 'Register a Phone Number' in the left column of this page."


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MILITARY CONSUMER
ISSUES & INITIATIVES
 

Top Tax Tips for Military Personnel   

With the start to the new year behind us, it is time to once again plan ahead for tax season. With the exception of those serving in combat zones or stationed outside the U.S, most military personnel and their families must file taxes by the traditional April 15 deadline.

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New Consumer Bureau, DoD Announces Scam Tracker

StrategiesOfficials from the newly created Consumer Financial Protection Bureau and the Pentagon announced Wednesday they're forming a program to track scammers who prey on servicemembers and veterans.

 

The Repeat Offenders Against Military -- ROAM -- Database will collect information those convicted of ripping off troops, veterans and their families, officials said during a gathering at the CFPB's offices in Washington.

 

Military Saves - Start Small. Think Big.  

Military Saves is a national campaign to persuade, motivate, and encourage military families to save money every month, and to convince leaders and organizations to be aggressive in promoting automatic savings. 

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Mortgage Relief for Service Members

Members of the military services who lost their homes in unfair foreclosures have won a big victory - and will receive big payouts - in the comprehensive settlement of mortgage litigation that was reached last week.

 

Four big lenders have agreed to identify service members who lost their homes or were denied interest rate reductions in violation of a law that protects active duty and deploying troops from credit card or mortgage abuses - and to make up their losses. The lenders are JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, formerly GMAC. 

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BBB partners with financial publisher Kiplinger and creates a guide specifically for the military consumer that contains practical information about being financially prepared for deployment, buying a home, minimizing taxes, and avoiding the scams that often target military families. To download your own PDF copy, follow the image link above.
As a partner in the Joining Forces Initiative and DOD Financial Readiness Campaign, BBB Military Line brings BBB consumer education and services to military personnel (including Reservists and National Guard), retirees, DoD civilians, and their families.