Winter 2008-09
Servicemembers are quickly becoming targets for unscrupulous lenders during these uncertain economic times, and it's not because they earn big incomes. Military members are targeted due to their steady, predictable paychecks and tendency to need quick cash.
Troops Against Predatory Scams (TAP$), an initiative sponsored by the California Department of Corporations, has developed an on-demand webcast to educate the military, especially young members and their families, about the dangers of payday loans, the importance of staying debt-free and safe alternatives for borrowing.
The new three-part "webisode" series is available at www.msnmoney.com/moneytrack. It is hosted by Pam Krueger and Jack Gallagher from the financial TV show "MoneyTrack," which airs on PBS stations and is funded by the non-profit Investor Protection Trust.
"In today's military, financial troubles have become an issue of national security because they can keep service men and women from being deployed overseas," Krueger says. "It's crucial that members of the military get the information they need to avoid financial scams specifically targeting them."
MSN Money began partnering with MoneyTrack earlier this year with the launch of "Scam Alert" video segments on the MSN Money website.