Once you have a student’s name, birthday and SSN, the US Department of Education will give you EVERYTHING else

The US Department of Education's Free Application for Federal Student Aid program requires any student applying for federal aid for college or university to turn over an enormous amount of compromising personal information, including current and previous addresses, driver's license numbers, Green Card numbers, marital details, drug convictions, educational history, tax return details, total cash/savings/checking balances, net worth of all investments, child support received, veterans' benefits, children's details, homelessness status, parents details including SSNs, and much, much more. (more…)

24 hours later, ANOTHER massive Wells Fargo fraud scandal

It's been a whole day since we learned about another example of systematic, widespread fraud by America's largest bank Wells Fargo (ripping off small merchants with credit card fees), so it's definitely time to learn about another one: scamming mortgage borrowers out of $43/month for an unrequested and pointless "home warranty service" from American Home Shield, a billion-dollar scam-factory that considers you a customer if you throw away its junk-mail instead of ticking the "no" box and sending it back. (more…)

Breaking: Pharma bro Martin Shkreli guilty of fraud

"Pharma bro" Martin Shkreli was found guilty of three felony criminal charges today, including securities fraud.

From Washington Post:

“We’re delighted in many ways,” Shkreli said outside the courtroom, saying he was glad to be exonerated on many of the charges.

“This was a witch hunt of epic proportions,” he said. “They may have found some broomsticks.”

It's unlikely he would have to serve the maximum sentence of 20 years the judge could give him, and it's possible he will not have to go to prison at all and just pay a fine instead.

Wells Fargo also defrauded 800,000 car loan customers and stole 25,000 cars

Wells Fargo didn't just steal millions from its customers with crooked overdraft fees, didn't just create 2,000,000 fraudulent accounts and threaten to blackball employees who tried to stop the frauds; didn't just defraud broke mortgage borrowers by the bushel-load -- they also defrauded 800,000 customers with car loans, forcing 274,000 of them into deliquency and "wrongfully repossessing" (that is, stealing) 25,000 of their cars. (more…)