October 2014

Chiropractors and Attorneys Part of Busted Florida Car Insurance Fraud Ring

On Thursday, five people were arrested in South Florida over allegations of participating in a car insurance fraud ring in which chiropractors and attorneys worked together to exploit Florida’s system of no-fault insurance.

There were warrants issued for the arrest of two more individuals – all seven are allegedly part of a fraud ring that may very well have defrauded the state out of hundreds of thousands of dollars. Investigators reportedly searched one Boca Raton attorney’s law firm on Thursday, where boxes of documents were seized and one man was led out in handcuffs.

Hacked Credit Cards More Frightening Than Murder

It seems the amount of high profile credit card data breaches over the past year are resonating with American shoppers.  As the holiday shopping season approaches, the findings of a new Gallup research poll seem to reinforce concerns that Americans will be hesitant to whip out the credit card this holiday season.


Takata Airbag Recall Leaves Millions Of Drivers At Risk

Car owners are being encouraged to check the airbags in their vehicles for their own safety.  Over 7.8 million cars are being recalled by manufacturers after it was discovered that Takata airbags could explode in the event of a collision.

The recall was ordered by the National Highway Traffic Safety Administration after the airbags were linked to four collision related deaths.  Over 50 car models are cited in the recall, with models manufactured between 2000 and 2011 included in the announcement.

Federal Reserve Expected To End QE3 On October 29

The final round of quantitative easing is expected to finally come to an end at the conclusion of a two day summit this week.  The Federal Reserve enacted quantitative easing or QE3 at the height of the recession to stabilize as well as stimulate the economy, but has slowly backed away from stimulus spending over the last two years.

Is Car Insurance The Midterm Election Issue In Florida?

The US midterm elections are scheduled for November 4 when voters will elect new representatives to the federal and state legislatures.  Many issues are becoming the ballot box question in certain states but for voters in Florida, the ballot may come down to who has the best plan to lower car insurance rates.

Statewide Bogus Credit Card Ring Busted in Pennsylvania

The Pennsylvania Attorney General’s Office has busted a bogus credit card ring this past week, which was reportedly responsible for the theft of tens of thousands of dollars across the state of Pennsylvania.

The credit card fraud ring apparently used counterfeit cards, along with matching driver’s licenses, to purchase goods across the state. The ring was allegedly run by Lovell “Vell” Davis III, and two associates, including Latoya Jemerson – who is currently in Allegheny County prison – and 31-year-old Cecelia Robinson, who is still at large.


New Regulations Would Change How Flood Insurance Premiums are Collected

This Friday, U.S. bank regulators proposed a new plan for collecting flood insurance premiums from property owners. Under the proposed regulations, those who have flood insurance to protect their homes would be required to have their premiums set aside in escrow accounts.

According to regulators, having residence’ premiums automatically sent to these accounts would help ensure that those living in flood-prone zones keep up with their flood insurance payments.

First Days of Apple Pay Marked by Glitches

On Monday, Apple released its highly-anticipated Pay mobile payment system. Unfortunately for the tech giant, its first few days were marred with the news that some early adopters had become victims to a glitch in the service. Some Bank of America credit and debit cardholders were charged twice for purchases after using Apple’s new mobile wallet technology.


Is Staples The Next Target For Credit Card Scammers?

Staples may be the next victim in a long line of retailers to be attacked by cyber criminals.  The company is working with law enforcement in the northeastern US to identify a “potential issue” with shoppers’ credit card data.

Cyber security reporter Brian Krebs, who has consulted with officials on other data breaches, discovered patterns of potentially fraudulent charges reported from “multiple banks.” According to the reports, Staples cash registers were infected by similar malware that compromised security at Target, Home Depot, and other retailers over the past year.


Regulators Approve Amendment To New Mortgage Rules

In the aftermath of the 2008 recession, the Obama administration passed what came to be known as the Dodd-Frank law in the summer of 2010.  The law brought some of the biggest changes to the financial industry since the Great Depression of the 1930s, including stricter rules for creditors to approve and lend mortgage loans.