Wells Fargo Finds Another 1.4M Fake Accounts, Will Refund Another $2.8M

Update: This post has been updated to reflect the latest findings in Wells Fargo’s review of fraudulent accounts, including up to an additional 1.4 million fake accounts.

Wells Fargo got in hot water last year for secretly opening millions of unauthorized bank and credit card accounts without its customers’ knowledge.

If you were one of those customers, you’re in line to get some money.

Wells Fargo agreed to a $142 million settlement in a class-action lawsuit in April.

The money will reimburse customers for “out-of-pocket losses, such as fees incurred due to unauthorized account openings,” according to Wells Fargo’s news release.

In addition to the repayment of fees, the settlement will include “millions of dollars of additional monetary relief,” according to a lawyer in the case.

Who Gets Paid?

The settlement covers anyone who had a Wells Fargo account opened without their consent from Jan. 1, 2009, through whatever date the courts officially execute the settlement.

In August 2017, an additional review that went back to January 2009 found an additional 1.4 million potentially fake bank and credit card accounts, CNN reported. Around 190,000 of those accounts faced unnecessary fees, according to Wells Fargo, which will result in an additional $2.8 million in fee refunds to customers.

These refunds are on top of the $3.3 million in fee refunds Wells Fargo has already paid customers for 130,000 unauthorized accounts. Wells Fargo told CNN that most customers who already got a remediation check are still eligible to take part in the $142 million settlement.

The March 2017 settlement has been approved, but it may take until early 2018 before affected customers are notified.  

Wells Fargo’s Very Bad Year

The deal follows a rough 2016 for Wells Fargo.

Its CEO resigned due to the scandal. The bank got slapped with a $185 million fine for the unauthorized accounts. And by the end of the year, it acknowledged that business was suffering, with noticeably fewer new customers opening accounts.

For its part, Wells Fargo says it has changed its ways. Among other steps, it fired 5,300 employees and overhauled the employee compensation plan that fueled the opening of unauthorized accounts.

Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder. The name “Wells Fargo” always makes him think of stagecoaches.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Hurricane Harvey impacts gas prices in the Poconos

EAST STROUDSBURG — Gas prices in the Poconos were on the rise Thursday, some up 20 cents from the night before. Drivers paid as much as $2.79 a gallon for regular gas in Monroe County.That upward trend is likely to continue. Hurricane Harvey put some of the nation’s largest oil refineries out of commission after it made landfall in Texas Friday night.“The hurricane affected 25 percent of the production of petroleum,” said Aly Khadr, owner of [...]

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Southwest Cards Get Huge Signup Bonus Increase

Earlier this month, Chase announced an impressive signup bonus increase for the . New cardholders can now earn 60,000 points if they spend $2,000 within the first three months. That’s a 20,000 point increase, and it’s a great upgrade to a card we’ve already called our top airline card, with a great signup bonus!

Be sure to act quickly: Even though Southwest hasn’t set an end date yet, this is a limited-time offer. And if you’re looking to put those extra points towards something really special, it’s better to start saving sooner, rather than later.

Card highlights

There’s a lot of similarities between Chase’s Southwest cards: Each has a base rate of 2X points per dollar on Southwest and Rapid Rewards® Hotel and Car Rental Partner purchases, and 1X points per dollar on all other purchases. Additionally:

• Points don’t expire as long as your card is open.
• No blackout dates or seat restrictions when you redeem points for flights.
• First and second checked bags fly free.
• No change fees. (Fare differences may apply.)

But when it comes to points and fees, there are some differences. Here’s a quick guide:

Southwest card comparison
Card	Signup bonus	Signup bonus requirements	Anniversary points	Annual fee	Foreign transaction fees?
	60,000 points	$2,000 in first three months	3,000 points	$69	Yes: 3% of each transaction in U.S. dollars
Southwest Rapid Rewards® Premier Credit Card	60,000 points	$2,000 in first three months	6,000 points	$99	No
Southwest Rapid Rewards® Premier Business Credit Card	60,000 points	$3,000 in first 3 months	6,000 points	$99	No

Already applied?

If you’ve already applied for a Rapid Rewards® Credit Card within 90 days of the offer, and you’ve missed out on the signup bonus, don’t worry: Chase will match the higher offer on both personal and business cards. (To be eligible for matching, the offer must be a public, as opposed to an offer targeting a specific individual.)

Bonus benefit: Southwest Companion Pass

The Companion Pass is a major incentive for making Southwest your airline of choice. This members-only perk lets you designate one person to fly with you for 100% free for the following full calendar year, plus the remainder of the year in which you earned it. Earn a companion pass early enough in the year, and that’s two years’ worth of free flights for your chosen companion.

Here’s what you’ll need to qualify:

• 110,000 qualifying points in a calendar year.
• 100 qualifying one-way flights.

(Note: you don’t have to own a Southwest credit card to earn a Companion Pass; any Rapid Rewards member who meets the criteria above can earn one.)

If you’re ready to earn free travel, apply now with the Southwest Rapid Rewards® Plus Credit Card to earn your 60,000-point signup bonus — and start earning points on every purchase.

The post Southwest Cards Get Huge Signup Bonus Increase appeared first on The Simple Dollar.

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Key to Tax Reform: 'Keep It Simple Stupid'

One of the most enduring lessons from the ObamaCare fiasco is that to win a political battle it is best to keep the message simple. If there are too many moving parts to a plan, if Americans don't understand what the politicians are doing, or if there are parts of a bill they don't like, it probably will go down in flames.    

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Spend $100 at IKEA This Weekend, Feed Your Entire Extended Family for Free

If you’re finally ready to fill that empty corner of your living room with cool chairs for guests or find a new bookshelf or two for your bedroom, now might be a good time to head to IKEA.

The furniture megastore known for its inexpensive, build-it-yourself homewares wants to feed your whole family.

Here’s the deal: If you go to IKEA between Sept. 2-4, and spend $100 or more before tax, the store will cover the cost of your meal.

Here’s How the IKEA Restaurant Deal Works

To redeem this offer, you’ll need to make sure you’re an IKEA Family member. If not, you’ll want to sign up before heading to the store.

When you get to the store, start your visit in the IKEA restaurant. Yes, you have to buy your family’s food first, but the cashier will give you a coupon that’s your ticket to a refund.

You have to buy your furniture on the same day you eat, so when you’re full, it’s time to go shopping. Whether you shop for new furniture or hit up the as-is section for deals, make sure you spend $100 or more before tax — no, you can’t count gift card purchases toward your total.

At checkout, present your IKEA Family card, the coupon and the receipt for your family’s meal. The cashier will deduct the meal’s cost from the total furniture purchase.

Bon appetit.

Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder. She keeps it classic when she eats at IKEA with the Swedish meatballs with mashed potatoes and lingonberry sauce.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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FEMA Is Hiring Reps to Help Hurricane Harvey’s Victims. Here’s How to Apply

If you’ve got customer service experience and want to put your skills to work helping victims of Hurricane Harvey, take a look at this opportunity to work with the Federal Emergency Management Agency’s disaster relief efforts.

FEMA is hiring temporary full-time customer representatives across the country. The jobs are scheduled to last 120 days with a possibility of extension, and the pay range is $15 to $19 per hour, depending on location.

If these customer representative jobs aren’t right for you, check out our Jobs page on Facebook. We post new opportunities there all the time.

FEMA Customer Representative

Customer representatives work in call centers as FEMA’s point of contact for people with questions about disaster relief assistance or need help filing claim requests.

Jobs are available in these six locations:

• Baton Rouge, Louisiana: $15 per hour

• Carson City, Nevada: $19 per hour

• Hyattsville, Maryland: $17 per hour

• Pasadena, California: $17 per hour

• Raleigh, North Carolina: $15 per hour

• Winchester, Virginia: $17 per hour

The application deadline for the jobs in Hyattsville, Pasadena and Winchester is Sept. 25, 2017. The deadline for Baton Rouge, Carson City and Raleigh is Sept. 30, 2017.

This job’s responsibilities include:

• Provide information about disaster assistance to people over the phone and in person

• Verify applicant eligibility for disaster assistance

• Provide information and explanations of Housing Assistance, Other Needs Assistance Grant and other programs

• Process applicant cases, re-certifications, audits and recoups and lodging reimbursement

To be eligible for this job, you need to meet the following requirements:

• U.S. citizenship

• Pass a background check

• Selective Service registration is required for males born after Dec. 31, 1959

• Paid or unpaid professional customer service experience

• Excellent phone skills

• Basic computer skills and working knowledge of Microsoft Office

• Fluency in communicating, comprehending, and translating Spanish and English is preferred

Follow these steps to apply for the Customer Representative job.

1. Click the link above to your preferred location

2. Create a free account with USAJOBS if you don’t already have one

3. Provide some basic contact and eligibility information

4. Submit a resume using USAJOB’s resume builder to access FEMA’s job listing

5. Create a free account with FEMA

6. Answer a series of eligibility, job experience and demographic questions  

7. Review and submit application

FEMA expects to make job offers within 30 days of the application deadline. You can check the status of your application at any time in the Dashboard section of your FEMA account.

If being away from home for several weeks doesn’t work for you, there are other ways you can help with Hurricane Harvey relief. Just be sure to watch out for scammers.

The Real Story About FEMA Field Representative Rumors

You may have noticed reports on Facebook and other social media sites that FEMA is hiring field representatives at a high rate of pay to help deal with the aftermath of Hurricane Harvey.

While it’s true that FEMA is hiring home inspectors, the jobs aren’t new and don’t necessarily pay thousands of dollars per week as Facebook rumors would have you believe.

According to a page on FEMA’s website dated January, 2016, “Currently, FEMA contracts with two companies for their home inspections. These job opportunities must be pursued through these individual contractors. They are Vanguard EM and PB Disaster Services.”

Vangaurd EM and PB Disaster Services (now known as WSP USA Inspection Services) are hiring independent contractors to complete disaster housing inspections.

Vanguard EM pays between $35 and $45 per inspection. WSP USA pays an “apprentice rate” or “inspector rate,” depending on experience.

To see if you qualify to be a Disaster Housing Inspector visit the information portals at Vanguard EM and WSP USA.

Lisa McGreevy is a staff writer at The Penny Hoarder. She loves telling readers about new job opportunities, so look her up on Twitter @lisah if you’ve got a tip to share.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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Here’s What Millennials Spent the Most on in 2016 (It’s Not Avocado Toast)

Last year, those dang millennials spent about $500 each on avocado toast. That’s more than a dollar a day!

Well, maybe.

Technically, they — ahem, we — spent $209 on fresh vegetables and $287 on bakery goods, according to the latest consumer expenditure report from the U.S. Bureau of Labor Statistics.

But with all the fuss over twenty- and thirtysomethings’ spending habits, we can only assume 99.9% of the purchases in those categories went toward multi-grain toast and Whole Foods avocados.

Even if it was, that’s only 1% of what we spent last year.

Sweeping generalizations aside, for the first time in its history, the BLS included a generational breakdown for this annual data. It gives an interesting new insight into how the seemingly misunderstood and maligned generation spends its money.

Millennials vs Baby Boomers: Here’s How They Spent in 2016

For one, millennials made about 84 cents for every dollar a boomer earned last year. Not too surprising given more experience means higher wages.

But millennials were on average way thriftier than our older counterparts. We spent $2,835.36 less than baby boomers, and that’s even when we control for their higher incomes.

Part of that probably comes from how millennials seemed a bit, shall we say, stingier when it comes to celebrating birthdays, anniversaries or other accomplishments of our friends and family. Generation Y spent $541 on gifts on average last year, compared to the $1,401.96 boomers forked over.

However, millennials might just be more DIY-focused.

We also seem to be really thrifty when it comes to real estate. The average value of a millennials’ home was $71,791 in 2016, which is less than half of the $181,256.04 for boomers.

Don’t blame us for being careful with our money: Millennials took on more than double the amount of liabilities — basically, debt — than boomers, adding $10,849 on average.

Still, millennials did find time to have some fun. Their generation on average spent $342 more to eat out than baby boomers and $25.88 more on booze.

Regardless of restaurant spending, both groups should know there are plenty of ways to save if you want to splurge on that Carrabba’s meal.

But overall, there aren’t many huge differences in inter-generational spending that aren’t a result of age (that would be, for example, drugs and healthcare spending). I mean, we spent nearly the same amount — about $50 — on eggs, and only had a $6.58 difference in spending on milk and cheese.

Maybe digging deeper into millennial spending will help some of the aforementioned millionaires better understand us.

So How Did Millennials Actually Spend Their Cash in 2016?

Millennials spent about $48,600 on average last year, on everything from $1 on a major appliance given as a gift (maybe this is a “Seinfeld” situation where a bunch of Gen Y-ers pooled together money to buy someone a fridge… or something) to $2,473 on healthcare, a much more sensible purchase.

They spent the most on housing, averaging $16,900 on rent, a mortgage or other accommodation that accounts for 35% of overall spending.

The generation of dog and cat memes spent about $435 on their pets last year. If that still seems like a big chunk of change, there are a few pet rewards programs that can bring down your bottom line.

As far as human food, millennials spent 47% of their total food budget at restaurant or fast food joints. That’s a pretty big — and troubling — ratio for a generation saddled with student debt, since you can save hundreds by prepping your meals at home instead of ordering that expensive takeout Chinese food.

Despite worries about growing auto loan delinquencies, the average member of Generation Y spent more than $3,700 toward buying a vehicle in 2016. Some good news: About 60% of that spending went toward used cars. Great move, millennials!

So for millennials and baby boomers alike, now that the BLS is watching what you spend, try not to make your generation look bad, okay?

That goes for Generation X, too. Yeah, we see you in the corner over there.

Alex Mahadevan is a data journalist at The Penny Hoarder. He may be a millennial, but he prefers peanut butter toast to avocado.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

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How to Buy Luxurious Bed Sheets — Without Losing Sleep Over the Price Tag