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July 2012, VOL II, Issue 17    
In This Month's Issue

Supporting Financial Readiness For Military Families

 

BBB Consumer Tip On Olympic Scams 

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Special Thanks to Our Sponsors  

SPONSOR SPOTLIGHT
 

BBB Military Line greatly appreciates support from the Defense Credit Union Council, without whom, our efforts on behalf of military consumers would not be possible.

U.S. Navy Lt. j.g. Catherine Adler swims the 50-meter freestyle during a Rim of the Pacific Exercise international swim meet on Joint Base Pearl Harbor-Hickam, Hawaii, July 6, 2012. Adler is assigned to the USS Chosin. DOD photo by U.S. Air Force Tech. Sgt. Michael R. Holzworth 

 SCAM ALERTS!  

 

Lottery Sweepstakes Scam! 

TRICARE Program Integrity has become aware of a Lottery Sweepstakes Scam in which fraudulent checks bearing the TRICARE name are being utilized. Individuals are contacted via mail with a letter informing them that they are "winners" of a USA Lottery Sweepstakes for $250,000. 

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BBB Consumer Tip On Olympic Scams 

The London 2012 Olympics start later this month and millions of viewers will watch around the world. But consumers should also be aware of scammers using the Olympics as a tool to target people. secondanchor 

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QUIZ: How Well Can You REALLY Tell A Scam? 

Have you ever heard of the Post Office email scam? Neither had I, until I stumbled upon it at the Postal Inspector's website. And then I heard about Patricia Newton, a woman who almost fell for it recently.  

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    MILITARY CONSUMER 
ISSUES & INITIATIVES
 

Supporting Financial Readiness For Military Families

Better Business Bureau's (BBB) Military Line, is privileged to partner with The McGraw-Hill Companies, in support of Joining Forces work on military financial literacy and readiness. In mid-July, we are launching a landing page on McGraw Hill's "Making Change Now" financial literacy website and will also include an associated smart phone application expressly for military consumers.
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Consumer Financial Protection Bureau and Prudential Regulators Issue Joint Guidance To Address Mortgage Servicer Practices That Impact Service Members 

The Consumer Financial Protection Bureau (CFPB) along with the prudential regulators - the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency and − issued joint guidance today to address mortgage servicer practices that may pose risks to homeowners who are serving in the military.

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Debt: The (Sort Of) Good, The Bad, And The Ugly 

 As a nation, we the people of the United States have a lot of debt. According to the March 2012 Federal Reserve Statistical Release, U.S. consumer debt topped $2.5 trillion - not including mortgages, home equity notes, or other debts secured by real estate. Mortgage-related debt hit just about $13.5 trillion, according to a separate Federal Reserve Board report. 

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Veterans Job Qualifications Bill Advances 

Veterans would be able to apply their military training more readily toward the federally issued licenses needed in certain civilian jobs, under legislation advancing in Congress.

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A formation of aircraft flies over the USS Dwight D. Eisenhower under way in the Mediterranean Sea, July 10, 2012. The air crews are assigned to Carrier Air Wing 7. The USS Dwight D. Eisenhower is on a scheduled deployment supporting maritime security operations and theater security cooperation efforts in the U.S. 5th and 6th Fleet areas of responsibility. U.S. Navy photo by Petty Officer 2nd Class Julia A. Casper

 
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.