The Most Fraudulent States In America: 24/7 Wall St.

April 11, 2012
Huffington Post 
mortgage lending news

Fraud often worsens in difficult economic times, as illustrated by a report published by the Federal Trade Commission. There were more than 1.8 million complaints of fraud, identity theft, or other deceptive practices in 2011 -- an increase of about 40 percent from the previous year. 24/7 Wall St. looked at the 10 states that had the most complaints in proportion to their population sizes. Number one on the list was Florida, with 694 complaints per 100,000 people; while New Jersey closed out the list at number 10, with 538 complaints per 100,000. Last year saw more than 30 different categories of grievances recorded. Identity theft was the most common, at 15 percent of all complaints. Other types of complaints related to the increasing number of Americans in debt because of the recession and the housing crash. Debt collection fraud was the second-most common category, with other classifications including banking and lending scams. Many of the states on the top 10 list were also those that experienced the worst of the recession. 24/7 Wall Street identified these 10 states by reviewing data from the FTC’s Sentinel Network Data Book.
Web Link

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.