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Fake Bank Scamming Victims Out of Hundreds

Fake Bank Scamming Victims Out of Hundreds
Posted August 20th, 2013 @ 11:43am by Ruth Brown, Newser Staff

(NEWSER– A new scam is bilking people looking to rebuild their credit rating out of hundreds of dollars by offering semi-secured credit cards then pocketing their deposits, TheStreet reports. The Treasury has sent a letterto US bank executives and federal and state regulators warning them of the scam, run by an outfit named Freedom Gold Club, which claims to be associated with a bank called Freedom 1st National Bank—which doesn't exist—and also sometimes Credit One Bank, N.A., which does exist but isn't actually involved.

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