Navy Federal Credit Union Ordered To Pay $28.5M Over Bad Debt Collection Practices

Navy Federal Credit Union Ordered To Pay $28.5M Over Bad Debt Collection Practices

Navy Federal Credit Union offers customers — current and former military servicemembers and their families — a wide range of financial products and services, including loans that must be repaid. But when those customers fell behind on those payments, federal regulators allege that NFCU illegally threatened borrowers and restricted access to their accounts. To resolve these allegations, the company must now pay $28.5 million in refunds and penalties. [More]

Watch Suspected Scammers Install And Harvest Data From ATM Skimmers

Watch Suspected Scammers Install And Harvest Data From ATM Skimmers

Skimmers are devices that very bad people attach to unattended credit card readers such as bank ATMs, public transit kiosks, post office kiosks, or gas pumps. They capture card numbers, and sometimes a hidden camera captures PINs, so scammers can clean out victim’s bank accounts. Of course, ATMs have their own security cameras, which catch images of the scammers at work. Like this footage from a recent skimmer installation at Navy Federal Credit Union branches in northern Virginia. [More]