Check out the image above? Who is Uber? What is a data breach? What do you think happened? According to the Tampa Bay Times article attached below, the Federal Trade Commission (FTC) ruled Uber to pay $148 million to settle a nationwide investigation into a 2016 data breach where a hacker accessed information belonging to 57 million riders and drivers. What do you think about this? How did the data breach make users vulnerable to identity theft? How did the FTC provide remedies or assistance to the victims of the data breach? How does this impact your decisions to want to use Uber?
For additional information, you can access the Federal Trade Commission FTC article about the original settlement and expanded settlement. The FTC also provides some information for consumers to use in case of a data breach. For more information, visit IdentityTheft.gov/databreach. Read the information on the websites and watch the video below. Then prepare your own presentation to give to individuals who were impacted. What advice would you give to them?
Florida Financial Literacy Standards:
SS.8.FL.6.7 Evaluate social networking sites and other online activity from the perspective of making individuals vulnerable to harm caused by identity theft or misuse of their personal information.
SS.912.FL.6.10 Compare federal and state regulations that provide some remedies and assistance for victims of identity theft.
Did you know that scammers have collected over 95 million dollars in illegal fees from student loan debt relief scams? To avoid starring in the "game of loans" read the Federal Trade Commission's warnings on how not to be scammed.
As noted in the Tampa Bay Times NIE Video of the Week (embedded below) most of the students are cheated by for-profit predatory colleges, many of which are not accredited. Before you make a decision to attend higher education, conduct research on the institution, especially if it is a for-profit school. After watching the video and reading the information at the links, have students discuss strategies for making sure they make wise decisions about choosing reputable institutions of higher education and don't become victims of fraud.
SS.8.FL.1.2 Identify the many decisions people must make over a lifetime about their education, jobs, and careers that affect their incomes and job opportunities.
SS.912.FL.1.2 Explain that people vary in their willingness to obtain more education or training because these decisions involve incurring immediate costs to obtain possible future benefits. Describe how discounting the future benefits of education and training may lead some people to pass up potentially high rates of return that more education and training may offer.
The first question is: Would you take this ride before lunch? The second question is: Would you invest in Busch Garden stock before the launch of the new roller coaster? Read the article from the Tampa Bay Times below to discover the details about the plans for Tigris. Then consider how this news could influence the prices of Busch Gardens' stock. How could this news impact the price of Busch Garden stock? Would you buy now or would you wait until the potentially rises after the coaster is functioning?
Florida Financial Literacy Standards:
SS.8.FL.5.3..Discuss that when people buy corporate stock, they are purchasing ownership shares in a business that if the business is profitable, they will expect to receive income in the form of dividends and/or from the increase in the stock’s value, that the increase in the value of an asset (like a stock) is called a capital gain, and if the business is not profitable, investors could lose the money they have invested.
SS.912.FL.5.3.Describe how financial markets adjust to new financial news and that prices in those markets reflect what is known about those financial assets.
Consider the quote above that Paul Tash, chairman and CEO of the Tampa Bay Times made when speaking at Indiana University graduation. Why is fake news like propaganda? How does fake news impact readers?
Did you know that fake news isn't new? Fake news even impacted George Washington!
Read the article below to discover how fake news spread in George Washington's time. What were the source's incentives in sharing fake news? How can a consumer be influenced by fake news about products or events? Consider how consumers might be influenced by fake news about the price of a good?
Financial Literacy Standards
SS.8.FL.2.2 Analyze a sources incentives in providing information about a good or service, and how a consumer can better assess the quality and usefulness of the information.
SS.912.FL.2.4 Describe ways that consumers may be influenced by how the price of a good is expressed.
Deborah Kozdras, Ph.D.