U nder a new federal law, beginning today, you now can freeze and unfreeze your credit file at all three major credit bureaus for free. Freezing your credit is a good way to protect yourself from having someone obtain credit in your name. A credit or security freeze restricts third-party access to your credit file, greatly reducing the chances that a thief can use your identity to get a loan, credit card or other credit.  Identity theft has become an increasing concern because of the growing number of data breaches at major retailers and other businesses, including last year's breach at the Equifax credit bureau . And using bogus email and phone calls, computer viruses and other methods, scammers have tricked consumers  into handing over their date of birth, Social Security numbers and other sensitive information.  Until now, many states have allowed the credit bureaus to charge most consumers a fee to freeze and unfreeze their files.  But the Economic Growth, Regulatory

A s the South endures the effects of hurricane Florence (now a tropical storm), warnings already are being issued about another storm that's expected to follow, this one entirely man-made: Consumer fraud. Even as Florence was approaching the mainland, alerts sent out about post-storm scams, including this warning from the Better Business Bureau. There are at least three types of disaster-related fraud you should know about, even if you don't live in an area directly affected by the storm: Charity and home contractor scams and the sale of flood and other storm-damaged cars to unsuspecting motorists. Here's how these types of fraud work and what you can do to avoid them. Charity scams During my more than 30 years as a consumer and finance journalist, I've seen many examples of scammers trying to take advantage of the generosity of people who want to help those affected by hurricanes and other disasters. The fraud could be perpetrated using a website for a b

T here have been a lot of reports in recent days about a homeless veteran who alleges that a New Jersey couple spent more than $400,000 they had raised on his behalf on the crowdfunding website GoFundMe.  The case raises a good question: How safe are the campaigns on crowdfunding websites?  The answer is that you're taking your chances when you respond to these online appeals. There are plenty of cases of alleged fraud on crowdfunding websites, such as the one I mention in  a story  I wrote for Consumer Reports. In that instance, an Iowa woman was placed on probation after she pleaded guilty to misrepresenting that her daughter had cancer. Even if a crowdfunding site has a policy to protect donors from fraud, it can be difficult to determine whether the money has been used for the advertised charitable purpose. And there are other considerations. Donations to crowdfunding campaigns typically aren't tax deductible. And when you donate through these sites, a portion of yo

I 'm surprised these days by how often people tell me they're keeping their savings in a major walk-in bank that's paying just half a percent or less interest. When I point out that online banks typically have savings rates that are many times higher than those of their brick and mortar counterparts, I'm often rebuffed. The most common reason I'm given is that walk-in banks simply are more convenient, providing such benefits as free local ATMs, in-person access to real human beings and even coin counting. Certainly there are good reasons to have a local bank. But it's not an either-or choice. As I point out in this  Consumer Reports story , it can make a lot of sense to have a walk-in bank or credit union for checking, ATMs and other benefits, as well as one or more online banks for their high rates on savings accounts and certificates of deposit. Indeed, many online banks actually require depositors to maintain an external checking account – most likel