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Losses surge as six-figure become more common

• Fraud losses reported by people 60 and older climbed to nearly $2.4 billion in 2024, quadrupling since 2020

• Investment often tied to social media pitchesdrove the biggest losses, while phone had the highest median hit

• The FTC says enforcement, refunds, and education are key to pushing back as seniors face more six-figure losses

Older Americans are losing money to at an accelerating pace, according to a new Federal Trade Commission report that shows reported fraud losses among people 60 and older reached nearly $2.4 billion in 2024.

That total is up from about $1.9 billion in 2023 and roughly $600 million in 2020. The FTC says the sharp increase is not just about more people reporting fraud, but about more victims reporting extremely large lossesoften $100,000 or more.

The agency defines older adults as people age 60 and up and says protecting them remains a top priority, given the outsized financial and emotional toll can take later in life.

Life-changing losses may be far higher

Because most fraud is never reported, the FTC estimates the true cost of targeting older adults in 2024 could range from $10.1 billion to as much as $81.5 billion, depending on how the estimate is calculated.

These losses can be life-changing, the report notes, particularly for retirees or people on fixed incomes who may not have time or earning power to recover financially.

Investment dominate, social media plays a major role

Investment accounted for the largest share of reported dollar losses among older adults, far surpassing any other fraud category. Many victims told the FTC they were lured into fake investment opportunitiesfrequently involving cryptocurrencyafter being contacted on social media.

That trend matters, the agency says, because social media was the leading starting point for linked to both the highest total losses and the highest number of loss reports among older adults in 2024.

At the same time, phone remain especially dangerous. While fewer in number than social media-based schemes, phone calls produced the highest median reported losses, meaning the typical phone scam victim tends to lose more money per incident.

Payment methods reveal warning signs

How scammers get paid is often a key red flag. According to the FTC, bank transfers and cryptocurrency payments were associated with the highest total reported losses among older adults.

Credit cards and gift cards, however, were the most frequently reported payment methods overall. Gift cards were particularly common in impersonation , where fraudsters pose as government agencies, businesses, or tech companies and pressure victims to pay quickly.

FTC highlights enforcement actions affecting seniors

The report outlines a range of enforcement actions the FTC says likely affected older adults, including:

• Debt relief and impersonation schemes: A lawsuit targeting an Accelerated Debt program accused of promising dramatic debt reduction while impersonating banks and government agencies.

• Tech support : A settlement with payment processor Paddle over allegations it facilitated deceptive tech-support telemarketing using fake alerts and brand impersonation, with money set aside for refunds.

• Hidden housing fees: A case filed with the state of Colorado accusing Greystar of advertising rents that failed to reflect mandatory monthly fees.

• Health and pain-relief marketing: A case involving Gravity Defyer shoes, alleging unsupported pain-relief claims aimed at older adults with arthritis and joint pain.

• Money transfer pressure points: A settlement with Walmart tied to allegations that its money transfer services were used in that disproportionately affected older consumers.

Refunds and rule changes

On consumer relief, the FTC says enforcement actions in fiscal year 2025 resulted in more than $311 million returned to consumers of all ages. Several refund programs sent checks to hundreds of thousands of people in cases involving sweepstakes marketing, tech-support , in-home product financing, and debt relief schemes.

The agency also finalized amendments to the Telemarketing Sales Rule in late 2024, expanding coverage to include inbound tech-support calls. That change targets a common scam tactic in which deceptive online ads trick consumers into calling fake support numbers.

In 2024, consumers 60 and older were five times more likely than younger adults to report losing money to tech-support , with reported losses totaling $159 million.

Education and reporting remain critical

The FTC continues to expand its Pass It On education campaign for older adults, which now covers 13 common scam categories ranging from impostor and romance to home repair and fake prize schemes. The materials are free and designed to be shared with friends and family.

The agency also urges consumers to report fraud at ReportFraud.ftc.gov, noting that timely reports can help law enforcement spot trends and, in some cases, trigger rapid action in high-dollar wire and bank transfer cases.

What older adults should watch for

The FTCs report underscores several practical warning signs: be skeptical of investment offers that arrive through social media, especially those involving cryptocurrency or guaranteed returns; never move money to protect it at someone elses request; treat unexpected tech alerts as ; and report losses immediately, because speed can matter when money has been wired or transferred.

As reported losses climb, the agency says awarenessand fast actionmay be the best defenses older Americans have.

Healthcare and construction continued to do most of the hiring

By Mark Huffman of ConsumerAffairs

• Total nonfarm payroll employment changed little in November (+64,000) and has shown little net change since April, the U.S. Bureau of Labor Statistics reported.

• The unemployment rate held steady at 4.6 percent, little changed from September but higher than a year ago.

• Job growth was concentrated in health care and construction, while federal government employment continued to shrink.

Since the government shutdown, economists have been in the dark about a number of economic data points especially the labor market. But with the release of the delayed November employment report, things are getting a little clearer.

Jobs increased last month, but not by much. Economists say the U.S. job market showed signs of stabilization rather than expansion in November, as overall employment growth remained modest and uneven across industries.

Total nonfarm payrolls increased by just 64,000 jobs, continuing a pattern of little net job growth that has persisted since April, according to the latest Employment Situation report from the Bureau of Labor Statistics.

The unemployment rate stood at 4.6 percent in November, essentially unchanged from September but up from 4.2 percent a year earlier. About 7.8 million people were unemployed, reflecting a labor market that remains relatively tight but has cooled compared with last year.

Where jobs are growing

Health care once again led job gains, adding 46,000 positions in November. Growth was broad-based, with increases in ambulatory health care services, hospitals, and nursing and residential care facilities. The sectors performance was in line with its average monthly growth over the past year, underscoring continued demand driven by an aging population and ongoing staffing needs.

Construction employment also rose, gaining 28,000 jobs. Most of the increase came from nonresidential specialty trade contractors, suggesting steady activity in commercial and infrastructure-related projects. Social assistance continued its upward trend as well, adding 18,000 jobs, largely in individual and family services.

Where jobs are shrinking

In contrast, transportation and warehousing shed 18,000 jobs in November, driven entirely by losses in couriers and messengers. The sector has now lost 78,000 jobs since peaking in February, reflecting softer demand following the pandemic-era surge in e-commerce and delivery services.

Federal government employment continued to decline, falling by 6,000 jobs in November after a sharp loss of 162,000 in October. Since January, federal payrolls are down by 271,000, largely due to deferred resignations. While a recent federal government shutdown delayed the release of employment data, furloughed workers were counted as employed if they ultimately received pay for the survey period.

Most other major industries including manufacturing, retail, professional and business services, leisure and hospitality, and financial activities saw little change over the month.

Wages, hours and workforce signals

Wage growth remained moderate. Average hourly earnings for private-sector workers edged up by 0.1 percent in November to $36.86 and were 3.5% higher than a year earlier. The average workweek increased slightly to 34.3 hours, suggesting stable labor demand but limited pressure for employers to expand hours significantly.

At the same time, several household survey indicators pointed to underlying softness. The number of people working part time for economic reasons jumped to 5.5 million, and short-term unemployment rose, even as long-term unemployment remained relatively stable. Labor force participation and the employment-population ratio were essentially unchanged.

Taken together, the November report paints a picture of a labor market in transition, no longer surging, but not sharply deteriorating. Job growth is increasingly concentrated in health-related and service-oriented sectors, while government employment and some goods-moving industries continue to contract. As policymakers and businesses look ahead, the data suggest an economy adjusting to slower growth rather than entering a clear downturn.

GasBuddy estimates motorists will save $521 million compared to last year

By Mark Huffman of ConsumerAffairs

• National average gasoline price expected to be $2.79 per gallon on Christmas Day

• Drivers projected to save about $521 million nationwide during Christmas week compared with last year

• Prices remain below last Christmas and among the lowest holiday levels since 2020

While the cost of celebrating Christmas remains high, holiday travelers may find an unexpected bit of cheer at the gas pump this Christmas, with prices continuing a multi-year trend of seasonal relief. GasBuddy forecasts the national average price of gasoline will land near $2.79 per gallon on Christmas Day, down from about $3.00 a year ago.

That decline adds up. GasBuddy estimates motorists will collectively save roughly $521 million during the Christmas travel week compared with last year, offering some financial breathing room as millions of Americans hit the road to visit family and friends.

The favorable outlook reflects a combination of supply and demand dynamics that have eased pressure on prices heading into the holidays. Refinery maintenance that typically tightens supply earlier in the fall has largely wrapped up, allowing gasoline inventories to rebuild. At the same time, OPECs increased oil production through much of 2025 has pushed crude oil prices to multi-year lows in the weeks leading up to Christmas.

Less demand helps

Seasonal demand also plays a role. While holiday travel remains heavy, winter gasoline consumption is significantly lower than during the summer driving season, helping keep prices in check. That natural demand slowdown has allowed prices to settle near what are often the lowest levels of the year.

Christmas is often when gas prices settle near the lowest levels of the year, and 2025 is no exception, said Patrick De Haan, head of petroleum analysis at GasBuddy.

Refinery maintenance has wrapped up, supplies are rising, and winter demand is much lower than in summer all of which help keep a lid on prices. Provided there are no surprises, holiday travelers should see pump prices that come in a bit lower than last Christmas.

De Haan cautioned that unexpected refinery disruptions or international tensions could still introduce short-term volatility, but said the broader backdrop is far more favorable than in the years immediately following the pandemic, when reopening demand sent prices sharply higher.

He also noted early indicators are encouraging as GasBuddy prepares to release its 2026 Fuel Outlook in January, with signs that lower prices could extend into next year.

Holiday tips

For drivers heading out this holiday season, GasBuddy recommends a few simple strategies to maximize savings:

• Compare prices before filling up, as nearby stations can differ by 10 to 25 cents per gallon, and even more on longer trips.

• Plan around state lines, where tax differences can create price swings of 20 to more than 80 cents per gallon.

• Use loyalty programs and fuel-saving apps to stack discounts.

• Drive efficiently, maintaining steady speeds and using cruise control, which can boost fuel economy by up to 15% on long drives.

Taken together, this years Christmas gas price outlook offers a modest but meaningful gift for holiday travelers one that could make the journey home a little easier on the wallet.

Agencies claim the marketing of Uber One is misleading

By Mark Huffman of ConsumerAffairs

• Federal regulators and 21 states accuse Uber of charging consumers for its Uber One subscription without consent and failing to deliver promised savings.

• The amended lawsuit claims Uber made cancellations deliberately difficult, despite advertising that users could cancel anytime.

• The case seeks civil penalties and will be decided in federal court in California.

The Federal Trade Commission (FTC), joined by 21 states and the District of Columbia, has filed an amended lawsuit against Uber, alleging the company improperly charged consumers for its Uber One subscription, failed to provide promised savings, and made it unreasonably hard for users to cancel.

The FTC first sued Uber in April, accusing the ride-hailing and delivery giant of deceptive billing and cancellation practices tied to Uber One, its paid subscription program. The newly filed amended complaint expands the case by adding state-level claims and seeking civil penalties for alleged violations of federal and state consumer protection laws, including the Restore Online Shoppers Confidence Act.

Uber denies the allegations that it signs up or charges consumers without their consent. The company asserts that customers agree to the subscription and are not billed unless they opt in. It also says the cancellation procedure is clear and simple.

What is Uber One?

Uber One is marketed as a monthly or annual subscription that promises perks such as $0 delivery fees and up to $25 in monthly savings on Uber Eats and Uber rides. According to the complaint, many consumers say those promises werent met.

Some subscribers report being charged delivery fees despite the $0 delivery fee guarantee, while others say they never received the advertised monthly savings. The lawsuit alleges that Ubers marketing gave consumers a misleading impression of the benefits they would receive.

One of the most serious allegations is that Uber enrolled some consumers in Uber One without their knowledge or consent. According to the complaint, users who signed up for free trials were often automatically charged before the trial ended. Others say they were billed for Uber One even though they never knowingly signed up at all.

Regulators argue that these practices violate laws designed to ensure consumers clearly agree to recurring charges before they are billed.

Cancel anytime

Uber advertises that consumers can cancel anytime, but the complaint claims the reality is far different. According to regulators, users trying to cancel their subscriptions may be forced to navigate up to 23 different screens and complete as many as 32 separate actions before successfully canceling.

The FTC and states allege that this complex process discourages consumers from canceling and keeps them paying for a service they no longer want.

In addition to the District of Columbia, the states joining the FTC in the amended complaint are:

Alabama, Arizona, California, Connecticut, Illinois, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Virginia, West Virginia, and Wisconsin.