Justin Baer

speaker

162 appearances 3 recordings 1 series first heard Feb 2020 last heard Nov 2024

Justin Baer’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why Paper Checks Are a Gold Mine for Scammers · 20 Nov 2024 podcast

They have tried to dig in and present more cases to law enforcement.

We saw the Chase civil lawsuits that they filed recently.

That's difficult, right?

In a sense that there's just such a high volume of this level of activity right now.

You haven't really seen signs that

the perpetrators are either really slowing down or are no less brazen than they have been for much of the last year.

And a lot of this really is made possible by technology, which has really pushed down the cost of nearly all financial services.

And it's really made the industry focus a lot more on volume.

And that means pursuing all potential customers and not just the really wealthy ones.

Great to be here.

Sure.

So let's just start with a few things that function just like the grown-ups' accounts.

One, there are no commissions on online stock trades, no minimum balances, no account fees.

The teens can buy and sell fractional shares of stocks.

So think about being able to buy a dollar's worth of a share in Tesla, which has been trading this week at more than $580.

And also the cash that they accumulate can be used and spent on a debit card.

There are some guardrails in place, though.

The teenagers can't use options to trade with them, and they can't buy securities on margin.

You also can't deposit more than $30,000 into your account in any given year.

Sure.

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