Monthly Archives: October 2017

Oct 21 2017

Those Pesky Robocalls

Every day American consumers report tens of thousands of illegal robocalls to the Federal Trade Commission, and now the FTC is helping put that information to work boosting industry efforts to stop unwanted calls before they reach consumers.

Under a new initiative announced by the FTC, when consumers report Do Not Call or robocall violations to the agency, the robocaller phone numbers consumers provide will be released each day to telecommunications carriers and other industry partners that are implementing call-blocking solutions.

Unwanted and illegal robocalls are the FTC’s number-one complaint category, with more than 1.9 million complaints filed in the first five months of 2017 alone. By reporting illegal robocalls, consumers help law enforcement efforts to stop the violators behind these calls. In addition, under the initiative announced today, the FTC is now taking steps to provide more data, more often to help power the industry solutions that block illegal calls.

For more information, click here.

Teaching Suggestions

  • Ask students if they have received robocalls and what was their response to such illegal calls?
  • Let students debate the issue of whether robocalls should be outlawed.

Discussion Questions

  1. Why is the consumer complaint data so crucial for the FTC to call-blocking solutions?
  2. How will the FTC attempt to stop unwanted robocalls before they reach consumers?
Oct 7 2017

Free credit freezes from Equifax

Many people have had very sensitive personal information exposed in the Equifax breach — Social Security numbers, account numbers, even drivers’ license numbers. Equifax is offering free credit freezes until November 21, 2017.

If you’re thinking of placing a freeze, consider the following:

  • A freeze means that no one (including you) can access your credit file until you unfreeze it, using a PIN or passphrase. That makes it harder for identity thieves to open new accounts in your name.
  • To be effective, you must place a freeze with all three credit reporting agencies — Equifax, TransUnion and Experian.
  • A freeze can cost you money every time you freeze and unfreeze your file- at a cost of $5 to $10 per agency each time, depending on your state’s law.

Fraud alerts are free.  With a fraud alert, creditors must try to verify your identity before extending new credit.  The alert lasts for 90 days, You can renew it but you will need to remind yourself or it will expire automatically.  Identity theft victims, however, are entitled to an extended fraud alert which lasts seven years.  To place an alert, contact any one of the three major credit reporting agencies, either by phone or online.

For more information, click here.

Teaching Suggestions

  • Ask students if they are willing to pay about $5 to $10 each time they freeze or unfreeze their accounts with each credit agency.
  • Let students debate the issue: “A fraud alert is better than a credit freeze.”

Discussion Questions

  1. What are the differences between a fraud alert and a credit freeze?
  2. Should you consider a fraud alert or credit freeze if you become a victim of an identity theft? Why or why not?