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Author: Susan Tompor, Detroit Free Press

Money

Social Security scammers have a new game: They’re impersonating agency employees by texting photos of phony badges

March 5, 2021 Susan Tompor, Detroit Free Press Comments Off on Social Security scammers have a new game: They’re impersonating agency employees by texting photos of phony badges

Scammers are out to steal Social Security numbers and your money. Some claim you need to transfer money out of a bank account to them to fix problems.

Money

More credit report errors are cropping up during COVID-19. Here’s how to fix a mistake

March 5, 2021 Susan Tompor, Detroit Free Press Comments Off on More credit report errors are cropping up during COVID-19. Here’s how to fix a mistake

COVID-19 relief offered ways that financially strapped consumers could delay payments. But there’s been a spike in complaints about credit reports.

Money

Rocket Companies stock soars 70% on speculative trading, mirroring GameStop rally

March 2, 2021 Susan Tompor, Detroit Free Press Comments Off on Rocket Companies stock soars 70% on speculative trading, mirroring GameStop rally

Will a stock in Detroit-based Rocket Companies now soar to the stratosphere simply due to short-squeeze speculation?

Money

Tax refunds flow slower into economy after delayed start

February 25, 2021February 27, 2021 Susan Tompor, Detroit Free Press Comments Off on Tax refunds flow slower into economy after delayed start

Tax refunds are flowing into pocketbooks — and the overall economy — much slower this season after a late start.

Money

‘Don’t pay for promises of early access’: Scammers are texting, calling people to get them to pay for COVID-19 shots

February 25, 2021 Susan Tompor, Detroit Free Press Comments Off on ‘Don’t pay for promises of early access’: Scammers are texting, calling people to get them to pay for COVID-19 shots

More consumers could soon hear from con artists impersonating insurers or health department officials as part of the COVID-19 vaccination effort.

Money

There’s a nude photo scam going around — and it’s as bad as it sounds

February 14, 2021 Susan Tompor, Detroit Free Press Comments Off on There’s a nude photo scam going around — and it’s as bad as it sounds

The nude photo scam is a new twist on the old romance scams that drive people to lose their shirts.

Money

‘The only option to grow your money’: Why new investors bought stock during the pandemic

February 7, 2021 Susan Tompor, Detroit Free Press Comments Off on ‘The only option to grow your money’: Why new investors bought stock during the pandemic

New investors tend to be young, lower income, and more racially and ethnically diverse, according to a new study about investing during the pandemic.

Money

‘This is going to end badly’: GameStop gamers battle risk in fight against Wall Street

January 28, 2021 Susan Tompor, Detroit Free Press Comments Off on ‘This is going to end badly’: GameStop gamers battle risk in fight against Wall Street

Does the GameStop mania represent a rebellion of people fighting against hedge funds? Or is it just another bubble where investors will be hurt?

Money

Fake unemployment claims trigger tax troubles for victims of identity theft

January 28, 2021 Susan Tompor, Detroit Free Press Comments Off on Fake unemployment claims trigger tax troubles for victims of identity theft

Employment-related identity theft was a massive scam in 2020. Now, victims are receiving 1099 tax forms for jobless benefits that they never claimed.

News

Student loan relief extended until Sept. 30: How to take advantage of it

January 27, 2021 Susan Tompor, Detroit Free Press Comments Off on Student loan relief extended until Sept. 30: How to take advantage of it

Many student loan borrowers already had been struggling before the pandemic hit in 2020. This year, borrowers hope for some added relief.

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