TC’s Big Wins: The Selfie Edition (AKA What Did We Actually Get?)

Quick Take (For the Non-Nerds)

Here’s the “Too Long; Didn’t Read.” of the FTC’s latest “Look at Us Go!” press release:

They slowed down some shady operators. Updated a few rules. Claimed victory on protecting your wallet.  Did they fix all the things that make you want to scream into a pillow? Nope. But hey, progress is progress, right?

Deep Dive: The Nerdy, Sarcastic Breakdown

So, What’s This About?
The FTC just dropped their annual “Look How Awesome We Are” press release. Full of shiny buzzwords, it’s essentially their yearbook page under “Most Likely to Bust a Fraudster.” Here’s what they bragged about:

Scammer Slowdowns:
They slowed a few shady operators—calling it a “smackdown” might be a stretch. Your inbox is still overflowing with “Congratulations, You’ve Won” emails, and let’s not forget the never-ending parade of spoofing calls. Oh, the joy of a 6 a.m. ring only to hear about your “extended warranty” or a “limited-time investment opportunity”! Clearly, the fraudsters are still having a field day. What about the big-money outfits funding these annoyances? Good question. For now, let’s give the FTC a brownie button for at least showing up and tackling some of the easier offenders. Effort counts, right?

Rule Revamps: Some Progress, But We’re Still Side-Eyeing Junk Fees
One of the FTC’s headline-grabbing updates this year is the Click-to-Cancel Rule—a game-changer for anyone who’s ever spent hours trying to escape the clutches of an endless subscription loop. You know the drill: click “Sign Up” in one second, but cancel? Oh, that requires a scavenger hunt through the depths of customer service limbo. Now, companies have to make it as easy to cancel as it was to sign up. (Insert confetti toss here.)

👉 Learn more about how the Click-to-Cancel Rule impacts you: Click to Cancel Article

And then there’s the looming showdown over junk fees. These sneaky little add-ons are like the uninvited guest at every transaction party—service fees, convenience fees, “just because we can” fees. The FTC says they’re cracking down, but let’s not hold our breath. Until then, we’ll keep dodging these wallet vampires one ridiculous charge at a time.

Consumer Refunds:
The FTC proudly highlighted how they handed out refunds to people burned by scammers. Yay! Except… let’s break that down: when you divide the total payout by the number of victims, it’s usually about enough to buy a cup of gas station coffee—or maybe just the lid.

And if you’re thinking your credit card company will swoop in like a financial superhero, think again. From personal experience, you’re often on your own when it comes to negotiating a refund. If the scammer is based outside the U.S., you might as well wave goodbye to your hard-earned cash. Discover, for instance, has a favorite response: “Too bad!” They’ll side with the merchant more often than not, especially if the product (or poor excuse for one) actually showed up at your door—even if it’s a polyester jacket when you paid for a wool one, or a quilt that looks nothing like the online photo.

Then there’s the joy of even trying to contact the scammers. Good luck finding a valid phone number, email, or any way to reach these Houdini-level escape artists. And if you do manage to send an email, don’t hold your breath for a response—unless it’s a generic “We’ll get back to you” that never leads anywhere. Speaking from experience, scammers like Loan Broker Network and Philip F. Smith seem to have a knack for disappearing into thin air. One moment they’re happily pocketing your $97, and the next? Poof! Gone. Well, except for the occasional spam email from the same address you’re supposed to contact with “questions.”

Of course, it’s an easy escape when they’re peeling out of the scene in a Ferrari, probably fueled by your hard-earned cash. And hey, maybe I’m due the $97 as a penalty for not going all-in on their upsells. How dare I resist the “platinum” package or whatever shiny nonsense they dangled in front of me?

These bad actors are ruining it for the good guys, too. Small businesses that genuinely care about their customers often get lumped into the same category because of the endless scams out there. While I’ve filed a complaint with the FTC and hope they’ll act on it, I’m not holding my breath. Refunds are nice in theory, but in reality, it feels like you’re on your own to navigate the murky waters of scam recovery.

The “Thanks for Trying” Moments
Let’s be real: The FTC’s job is like trying to patch a sinking ship with duct tape while everyone on board is actively drilling new holes. Sure, they’ve plugged a few gaps, but the ocean of fraud keeps flooding in.

So, who exactly is trying to save us from this tidal wave of scams? The FTC employs around 1,100 people—roughly the same number of staff it had in the 1980s. That’s right, this agency responsible for policing everything from telemarketing fraud to data privacy to anticompetitive mergers is operating with a workforce designed for a much simpler, less digital time. If fraudsters are playing 4D chess with AI tools, the FTC is trying to keep up with a checkers set missing half the pieces.

The team is made up of economists, lawyers, technologists, and consumer protection experts, all tasked with enforcing laws against deceptive practices, maintaining competition in the marketplace, and ensuring companies play fair. Sounds noble, right? And it is—except their responsibilities are so vast it’s like asking a small-town sheriff’s department to police a major city. Between monitoring advertising claims, keeping an eye on big tech, and chasing down scam calls at 6 a.m., they’ve got a pretty full plate.

While they’ve made some high-profile moves, like shutting down pyramid schemes and stopping shady operators in their tracks, it’s clear their resources are stretched thin. Think of them as the underdog in a world of scammers who seem to have endless resources and zero morals.

Our Wishlist for the FTC (If They’re Reading):

Stronger Fraud Filters: Instead of playing catch-up, how about stopping the scammers before they get their hands on the cash? It’s 2025—let’s invest in some tech that keeps us one step ahead of these digital con artists. Think Minority Report, but for fraud, minus the creepy precogs.

Real Penalties: Scammers and shady companies shouldn’t just shrug off fines as the cost of doing business. Make them pay enough to actually feel the sting—maybe even enough to downgrade from Ferrari to Toyota Camry.

Consumer Education: Fraud thrives on ignorance, and we’re all one bad click away from buying a yacht for a prince in Nigeria. The FTC needs to ramp up efforts to teach people how to spot scams before they fall for them. Think campaigns with catchy slogans, practical tips, and maybe even a fraudster bingo card.

That’s one of the reasons we formed Truth and Credit—to empower consumers through education. And let’s be clear, we’re not here to judge. We’ve fallen repeatedly for these too-good-to-be-true sales tactics ourselves. These fraudsters are crafty, and they know exactly how to push the right buttons. But with the right knowledge and tools, we can help others avoid the same pitfalls and maybe even keep some of their hard-earned dollars out of the hands of these jeans-and-T-shirt Houdinis.

Final Thoughts:
The FTC’s summary isn’t exactly fireworks and confetti, but it’s something. Keep your guard up and maybe—just maybe—2025 will be the year they finally stick it to the scammers.