The Superior Telegram sums it up best in a recent story:

Fifty-three public and private employers in Wisconsin are in line for federal money to help pay for early retirement benefits. The intent is to preserve eroding retiree health coverage until people are eligible for Medicare, or can use the new health exchange marketplace starting in 2014.

The U.S. Department of Health and Human Services reports that the percentage of large firms providing workers with retiree health coverage has dropped from 66-percent in 1988 to 29-percent last year.

To shore up coverage, the feds are providing funds to private business, along with state and local governments.

One is the grandparent scam, where someone calls up a senior, pretending to be a grandchild in “desperate” need for cash. They get the unsuspecting senior to forward case via Western Union or other delivery service, then vanish.

The other is a prize scam. A caller tells victims they have won some cash – but they need to hand over their bank account number so the money can be directly deposited. Sometimes, the caller will tell the “winner” they need to pay a processing fee before they can receive their prize. These are slick ways to get personal information from unsuspecting Wisconsinites.

Avoid getting scammed:

• Never hand out your private information over the phone. This includes your bank account number, Social Security number, birth date and maiden name.
• Never wire payments to someone you don’t know.
• Don’t hesitate to ask your kids if your grandchildren need financial help. Don’t let embarrassment over not being able to tell if it is your grandchild on the phone cost you thousands in retirement money.
• Keep a list of contests you’ve entered, so you know if a scammer is calling you. You should NEVER have to pay for a cash prize.
• If it sounds too good to be true, it probably is.

DATCP Division of Trade and Consumer Protection Administrator Janet Jenkins wrote in an e-mail that it’s impossible to suss out the reason for the drop.

“Hopefully, the decrease is a sign of success; that our educational outreach efforts are working and more Wisconsin consumers have the information they need to make smart decisions,” Jenkins wrote.

Despite the decrease for Wisconsin, more than half of consumer agencies surveyed nationally reported an increase in complaints from 2008 to 2009, according to the 2009 Consumer Complaint Survey Report released in July by three national consumer protection groups.

Not surprising, telemarketers were the No. 1 aggravations for Wisconsin consumers.

The Credit Card Accountability Responsibility and Disclosure (CARD) Act prohibits credit card issuers from charging astronomical fees for late payments or over-the-limit balances.

What you need to know about the CARD Act:

• Credit card companies can’t charge more than $25 for a late payment. There are two exceptions to this rule: If you’ve paid late one time in the last six months, or the company can show their costs are higher because you  made your payment late.
• You cannot be charged if you don’t use your credit card. Some companies try to tack on a fee for inactivity, but that is no longer possible under the law.
• You cannot be charged multiple times for one infraction. For example, if one transaction takes you over your credit limit, the company cannot charge you five different fees as a result.
• If your Annual Percentage Rate of interest increases, credit card companies must re-evaluate those increases within six months. When appropriate, the rate must be reduced.
• Your credit card company MUST tell you why your rates increased.

Find out more:

http://www.federalreserve.gov/creditcard/

Scammers are pretending to be soldiers on popular dating sites. Once they hook a mark, they ask for cash. When they get the cash, they vanish. From the Wisconsin Better Business Bureau:

According to the U.S. Army Criminal Investigative Command, these scammers are using real military photos to create fake profiles and they have received hundreds of complaints in the last year about the scam. Some scammers have even used photos of military members that have passed away.

The Command reports that con artists build relationships with women and then start asking for money for things like internet use, phones, leave papers, money to enable them to come visit the victim, etc. Once the woman sends the money, they never hear from the man again. …

Many of these emails have been traced back to foreign cyber-cafes in Africa but the individuals operating these scams are difficult, if not, impossible to track down.

If you or a loved one uses the net to meet people for relationships, beware this scam. If you or a loved one has been scammed, report it to the Internet Crime Complaint Center at ic3.gov, 800-251-3221,  or the Federal Trade Commission at ftc.gov,  1-877-438-4338.

The bill was introduced by U.S. Rep. Tammy Baldwin of Madison.

According to an editorial in The Cap Times:

The Senior Financial Empowerment Act creates a centralized service for consumer education on mail, telemarketing, and Internet fraud targeting seniors. The bill received bipartisan support in the House, passing 335-81. It is now in the Senate, where it also deserves full support.

Federal authorities are investigating Westwood College of Denver, which was illegally operating in Wisconsin. Recruiters told the girl her interior design degree would be approved by the state by the time she graduated – but that wasn’t the case.

Now, she’s out $25,000 – and is suing the college to get her money back.

WisconsinWatch.org has the details on the lawsuit.

The fraudsters used text messages to tell customers that their accounts had been hacked. Luckily, customers got suspicious when the crooks asked for confidential information – like their debit card PIN numbers – and reported it to police.

WISN.com has more details on the scam.

Protect yourself:

• If you don’t have a bank account with an institution that sends a notice about a hacked account, report it immediately to police. These are scammers attempting to get your personal information.
• Banks are extremely careful about what information they ask for. If you have questions about your account, visit your local bank branch for help. Don’t give out personal information – like a Social Security Number – over the phone.
• Banks and other financial institutions never ask for personal data via text or email.
• Don’t allow pressure tactics, or too-good-to-be-true offers to sway you into giving up personal information to a stranger over the phone – even if they claim to represent your bank or credit card company.
• When in doubt,hang up the phone. Call your bank or local law enforcement and report the call, text or email.

Government agencies got $300 million from the feds to investigate Medicare fraud, which costs Uncle Sam about $60 billion a year, according to a report at All247News.com.

A third of all fraud originates in Florida, the story reports.

From an FBI news release:

(Brian K.) Bowling pled guilty to engaging in a mortgage fraud scheme using his mortgage brokerage company called Platinum Concepts. Bowling defrauded banks and other mortgage lenders by submitting false loan applications to obtain home loans. The loan applications included inflated income amounts, exaggerated assets, falsified employment information, bogus downpayments, and silent second mortgages. To date, five individuals have pleaded guilty to participating in this scheme.