Denver woman fights bank for $7K refund after scam
Denver resident Megan Holt thought she was being financially smart when she opened a high-yield savings account with SoFi. She used the account strictly for savings — not transactions. But one day, her phone rang. It was SoFi, alerting her to suspicious activity. At first, she assumed the bank would protect her savings. Instead, she learned that nearly $7,400 had vanished overnight. “They [the scammers] had done 19 transactions between $100 and $900 — almost every day,” Holt told 9News. “They just took it.” Her total loss was $7,363. The transactions were all friend-to-friend transfers sent to a person she had never heard of. Holt immediately disputed the charges, expecting the bank to protect her. Instead, SoFi told her the transactions appeared legitimate.
Denver resident Megan Holt thought she was being financially smart when she opened a high-yield savings account with SoFi. She used the account strictly for savings — not transactions. But one day, her phone rang. It was SoFi, alerting her to suspicious activity. At first, she assumed the bank would protect her savings. Instead, she learned that nearly $7,400 had vanished overnight. “They [the scammers] had done 19 transactions between $100 and $900 — almost every day,” Holt told 9News. “They just took it.” Her total loss was $7,363. The transactions were all friend-to-friend transfers sent to a person she had never heard of. Holt immediately disputed the charges, expecting the bank to protect her. Instead, SoFi told her the transactions appeared legitimate.
Kevin O'Leary backs Trump's plan to kill the penny
The U.S. penny has been in circulation for more than two centuries, but its time may soon be up after President Donald Trump directed the Treasury Department to halt production of the one-cent coin. “For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote in a Truth Social post. “I have instructed my Secretary of the U.S. Treasury to stop producing new pennies. Let's rip the waste out of our great nation’s budget, even if it's a penny at a time.” “Shark Tank” investor Kevin O’Leary agrees. “[Trump] is right — it’s stupid,” O’Leary stated in a recent Fox Business interview. “Why would you pay two cents for a commodity that's worth one? Who uses a penny anyways? Unless you're putting them in your loafers, and nobody does that anymore, get rid of it. It's useless.” The high production cost makes a compelling case. According to the U.S. Mint — the Treasury bureau responsible for producing the nation’s coinage — each penny cost 3.69 cents to produce in fiscal 2024, more than three times its face value. That led to an $85.3 million loss on penny production for the year.
The U.S. penny has been in circulation for more than two centuries, but its time may soon be up after President Donald Trump directed the Treasury Department to halt production of the one-cent coin. “For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote in a Truth Social post. “I have instructed my Secretary of the U.S. Treasury to stop producing new pennies. Let's rip the waste out of our great nation’s budget, even if it's a penny at a time.” “Shark Tank” investor Kevin O’Leary agrees. “[Trump] is right — it’s stupid,” O’Leary stated in a recent Fox Business interview. “Why would you pay two cents for a commodity that's worth one? Who uses a penny anyways? Unless you're putting them in your loafers, and nobody does that anymore, get rid of it. It's useless.” The high production cost makes a compelling case. According to the U.S. Mint — the Treasury bureau responsible for producing the nation’s coinage — each penny cost 3.69 cents to produce in fiscal 2024, more than three times its face value. That led to an $85.3 million loss on penny production for the year.
Thieves poach 100,000 eggs worth $40,000
Thieves made off with around 100,000 eggs — worth nearly $40,000 — after cracking open a distribution trailer in Greencastle, Pennsylvania, according to local authorities. The eggs were taken from a trailer at Pete & Gerry's Organics on the night of Feb. 1. An investigation has been opened. "We take this matter seriously and are committed to resolving it as quickly as possible," the egg producer said in a statement released to media outlets. The theft has drawn plenty of attention as the nation grapples with sky-high egg prices, which is putting pressure on consumers and business owners alike.
Thieves made off with around 100,000 eggs — worth nearly $40,000 — after cracking open a distribution trailer in Greencastle, Pennsylvania, according to local authorities. The eggs were taken from a trailer at Pete & Gerry's Organics on the night of Feb. 1. An investigation has been opened. "We take this matter seriously and are committed to resolving it as quickly as possible," the egg producer said in a statement released to media outlets. The theft has drawn plenty of attention as the nation grapples with sky-high egg prices, which is putting pressure on consumers and business owners alike.
$500 inhaler cost linked to young man's death
In January 2024, 22-year-old Cole Schmidtknecht went to Walgreens to fill a prescription for an asthma inhaler. He was told the price of the inhaler had increased from $66 to $539 out-of-pocket, reports CBS News. Unable to afford the cost, Schmidtknecht left the pharmacy without filling his prescription and tried to manage with just his rescue inhaler. Days later, he suffered a fatal asthma attack. His parents have now filed a lawsuit against both the pharmacy benefits-management company and Walgreens, claiming they are responsible for their son's death. The Schmidtknechts' lawsuit alleges that the benefits company, Optum RX, owned by UnitedHealth Group, violated Wisconsin law by increasing the prescription's cost without a valid medical reason and failing to provide 30 days’ notice of the price increase.
In January 2024, 22-year-old Cole Schmidtknecht went to Walgreens to fill a prescription for an asthma inhaler. He was told the price of the inhaler had increased from $66 to $539 out-of-pocket, reports CBS News. Unable to afford the cost, Schmidtknecht left the pharmacy without filling his prescription and tried to manage with just his rescue inhaler. Days later, he suffered a fatal asthma attack. His parents have now filed a lawsuit against both the pharmacy benefits-management company and Walgreens, claiming they are responsible for their son's death. The Schmidtknechts' lawsuit alleges that the benefits company, Optum RX, owned by UnitedHealth Group, violated Wisconsin law by increasing the prescription's cost without a valid medical reason and failing to provide 30 days’ notice of the price increase.
Bank stops scam targeting 75-year-old woman
Vancouver, Washington resident Donna — who asked to be identified by only her first name — was walking in Vancouver Mall when she passed a kiosk passing out eye cream. A young woman suggested Donna join a spa program at BH28 Skincare Consultants, reported KOIN 6 News. Donna, 75, was soon introduced to the spa's owner, 27-year-old Hai Baranetz, who signed her up for the spa program for 'just' $5,000 — a 50% discount, according to him. What started out as a way for Donna to feel more comfortable in her skin turned out to be a costly scam when Baranetz drove her to her bank and tried to convince her to give him $1 million for further treatment. “I was almost, like, in a trance when I even went in and asked for it,” Donna told KOIN 6 News. Older Americans are increasingly at risk of scams, but banks and financial institutions are helping block scammers' attempts to take advantage of elderly adults. Luckily for Donna, her bank stopped her from withdrawing the cash. Here's what happened and how you can protect those most vulnerable.
Vancouver, Washington resident Donna — who asked to be identified by only her first name — was walking in Vancouver Mall when she passed a kiosk passing out eye cream. A young woman suggested Donna join a spa program at BH28 Skincare Consultants, reported KOIN 6 News. Donna, 75, was soon introduced to the spa's owner, 27-year-old Hai Baranetz, who signed her up for the spa program for 'just' $5,000 — a 50% discount, according to him. What started out as a way for Donna to feel more comfortable in her skin turned out to be a costly scam when Baranetz drove her to her bank and tried to convince her to give him $1 million for further treatment. “I was almost, like, in a trance when I even went in and asked for it,” Donna told KOIN 6 News. Older Americans are increasingly at risk of scams, but banks and financial institutions are helping block scammers' attempts to take advantage of elderly adults. Luckily for Donna, her bank stopped her from withdrawing the cash. Here's what happened and how you can protect those most vulnerable.
What's next for USAID?
President Donald Trump issued an executive order on his first day in office Jan. 20 that announced a 90-day freeze in U.S. foreign development assistance, forcing mass layoffs and furloughs. There have been a few exceptions to the funding freeze, such as emergency food assistance. Thousands of employees at the U.S. Agency for International Development (USAID) were set to go on leave Feb. 7, and overseas workers recalled. But those workers will stay on the job, at least for now. U.S. District Judge Carl Nichols ordered a temporary halt to the administration’s plans to pull 2,200 staff, while reinstating 500 others who were previously put on leave. In addition, Nichols blocked an order that gave recalled overseas workers just 30 days to return to the U.S. at the government’s expense. The judge’s order was first issued Feb. 7 and meant to expire after one week, but the timeline was extended another seven days at a hearing Feb. 13. Nichols, a Trump appointee, noted the administration’s moves would have exposed workers, along with their spouses and children, to unnecessary risk and expenses. “Administrative leave in Syria is not the same as administrative leave in Bethesda,” he wrote in the order. These workers were given a temporary reprieve, however, the entire USAID workforce is under scrutiny. The agency, which employs more than 10,000 people worldwide and has provided aid to more than 100 countries, is in the process of being stripped down in an effort to slash federal spending. Its Washington-based office was shuttered and its website taken offline. “In less than two weeks, the administration has moved swiftly to dismantle the work of the 10,000-person, $40-billion foreign assistance agency and the thousands of people who work in nonprofits and other groups that partner with it,” according to The Wall Street Journal. Reports estimate that about 800 awards and contracts would be cut.
President Donald Trump issued an executive order on his first day in office Jan. 20 that announced a 90-day freeze in U.S. foreign development assistance, forcing mass layoffs and furloughs. There have been a few exceptions to the funding freeze, such as emergency food assistance. Thousands of employees at the U.S. Agency for International Development (USAID) were set to go on leave Feb. 7, and overseas workers recalled. But those workers will stay on the job, at least for now. U.S. District Judge Carl Nichols ordered a temporary halt to the administration’s plans to pull 2,200 staff, while reinstating 500 others who were previously put on leave. In addition, Nichols blocked an order that gave recalled overseas workers just 30 days to return to the U.S. at the government’s expense. The judge’s order was first issued Feb. 7 and meant to expire after one week, but the timeline was extended another seven days at a hearing Feb. 13. Nichols, a Trump appointee, noted the administration’s moves would have exposed workers, along with their spouses and children, to unnecessary risk and expenses. “Administrative leave in Syria is not the same as administrative leave in Bethesda,” he wrote in the order. These workers were given a temporary reprieve, however, the entire USAID workforce is under scrutiny. The agency, which employs more than 10,000 people worldwide and has provided aid to more than 100 countries, is in the process of being stripped down in an effort to slash federal spending. Its Washington-based office was shuttered and its website taken offline. “In less than two weeks, the administration has moved swiftly to dismantle the work of the 10,000-person, $40-billion foreign assistance agency and the thousands of people who work in nonprofits and other groups that partner with it,” according to The Wall Street Journal. Reports estimate that about 800 awards and contracts would be cut.
Mortgage rate trends this week
Thirty-year fixed mortgage rates came down again this week, from 6.89% last week, to an average of 6.87%. “The 30-year fixed-rate mortgage continued to inch down this week, reaching its lowest level thus far in 2025," says Sam Khater, chief economist at housing giant Freddie Mac. “Recent mortgage rate stability is benefitting potential buyers, as purchase demand is stronger than this time last year. This is an indication that a thaw in buyer activity could be on the horizon.”
Thirty-year fixed mortgage rates came down again this week, from 6.89% last week, to an average of 6.87%. “The 30-year fixed-rate mortgage continued to inch down this week, reaching its lowest level thus far in 2025," says Sam Khater, chief economist at housing giant Freddie Mac. “Recent mortgage rate stability is benefitting potential buyers, as purchase demand is stronger than this time last year. This is an indication that a thaw in buyer activity could be on the horizon.”
Scott Galloway, Ramit Sethi dispel money myths
Scott Galloway, a serial entrepreneur and NYU professor, recently interviewed Ramit Sethi, bestselling author of “I Will Teach You To Be Rich” on his podcast "The Prof G Show". The two experts set out to dispel common financial myths that can hold Americans back from realizing their wealth goals. For example, when asked whether owning a home is essential for “being rich,” Sethi replied, “no, not necessarily.” His unconventional advice for achieving wealth deviates from mainstream financial guidance and popular belief. Nearly 40% of Americans believe real estate is the best long-term investment, yet Sethi, a self-proclaimed multi-millionaire, doesn’t own a home. So, what gives? This topic is just one of many Sethi addresses — so here are three tips that can be gleaned from his hour-long chat with fellow finance celeb Scott Galloway.
Scott Galloway, a serial entrepreneur and NYU professor, recently interviewed Ramit Sethi, bestselling author of “I Will Teach You To Be Rich” on his podcast "The Prof G Show". The two experts set out to dispel common financial myths that can hold Americans back from realizing their wealth goals. For example, when asked whether owning a home is essential for “being rich,” Sethi replied, “no, not necessarily.” His unconventional advice for achieving wealth deviates from mainstream financial guidance and popular belief. Nearly 40% of Americans believe real estate is the best long-term investment, yet Sethi, a self-proclaimed multi-millionaire, doesn’t own a home. So, what gives? This topic is just one of many Sethi addresses — so here are three tips that can be gleaned from his hour-long chat with fellow finance celeb Scott Galloway.
CA senior wants to live to see lost home rebuilt
On Jan. 7, Karen Bagnard of Pasadena Village, California, didn't realize the wildfires were so close to her home. The 79-year-old sat in the dark, waiting for the power to come back on, until her phone rang. “My daughter said, ‘Mom, do you realize there’s a fire?’” Bagnard, who is legally blind, told CNBC. “I had no idea there was a fire.” At that point, the Eaton fire was far enough away that she thought her home would be safe. But as it neared, Bagnard and her 32-year-old grandson, who lives with her, decided to leave. She thought evacuation would be temporary, but it was the last time she would step foot in her home of nearly 50 years — the place where she raised her children as a single mom. The next day, her daughter and grandson returned to find a pile of smoldering rubble. “They brought a chair for me, and I sat in the driveway, and what I could see was just the land,” Bagnard said of the scene. “I started looking at it in terms of, ‘How would we rebuild?’”
On Jan. 7, Karen Bagnard of Pasadena Village, California, didn't realize the wildfires were so close to her home. The 79-year-old sat in the dark, waiting for the power to come back on, until her phone rang. “My daughter said, ‘Mom, do you realize there’s a fire?’” Bagnard, who is legally blind, told CNBC. “I had no idea there was a fire.” At that point, the Eaton fire was far enough away that she thought her home would be safe. But as it neared, Bagnard and her 32-year-old grandson, who lives with her, decided to leave. She thought evacuation would be temporary, but it was the last time she would step foot in her home of nearly 50 years — the place where she raised her children as a single mom. The next day, her daughter and grandson returned to find a pile of smoldering rubble. “They brought a chair for me, and I sat in the driveway, and what I could see was just the land,” Bagnard said of the scene. “I started looking at it in terms of, ‘How would we rebuild?’”
NYC Bodegas struggle as egg costs soar
The bacon, egg, and cheese sandwich, affectionately known as the BEC, is a staple for many New Yorkers. It has inspired its own Instagram account, dozens of Reddit threads, and many a friendly argument about which bodega or deli has the best BEC. For Baruch College junior Paz Moran, it's her go-to lunch to grab between classes. “Right between classes,” Moran told NY1 reporters. “A little lunch break, that’s what we get.” But Moran has had to think a little harder about whether that perfect balance of melty cheese, bacon and egg is worth the cost. That's because as egg prices soar, so does the cost of New York's favorite sandwich. Francisco Marte, president of the Bodega and Small Business Association and owner of Green Deli in the Bronx, says he had to raise the price of his BEC from $4.50 to $6.00. And he’s not happy about it. “It’s hard,” Marte explained. “And it’s especially hard for the community, the low-income community. The eggs and the milk are some of the products people most use.”
The bacon, egg, and cheese sandwich, affectionately known as the BEC, is a staple for many New Yorkers. It has inspired its own Instagram account, dozens of Reddit threads, and many a friendly argument about which bodega or deli has the best BEC. For Baruch College junior Paz Moran, it's her go-to lunch to grab between classes. “Right between classes,” Moran told NY1 reporters. “A little lunch break, that’s what we get.” But Moran has had to think a little harder about whether that perfect balance of melty cheese, bacon and egg is worth the cost. That's because as egg prices soar, so does the cost of New York's favorite sandwich. Francisco Marte, president of the Bodega and Small Business Association and owner of Green Deli in the Bronx, says he had to raise the price of his BEC from $4.50 to $6.00. And he’s not happy about it. “It’s hard,” Marte explained. “And it’s especially hard for the community, the low-income community. The eggs and the milk are some of the products people most use.”
Moneywise Digest