In recent studies, it has been reported that the credit reports on which lenders rely in making decisions about consumers’ credit worthiness often contain errors. The end result can be increased borrowing costs for consumers.
Boehringer Ingelheim Pharmaceuticals, Inc. has agreed to pay $95 million to settle a False Claims Act case in which it was alleged that the drug company improperly marketed drugs and caused false claims to be submitted to government healthcare programs.
The Consumer Financial Protection Bureau (CFPB) announced that it is accepting consumer complaints about credit reporting, providing consumers individual-level complaint assistance for the first time at the federal level.
Fiscal Year 2012 saw more than $9 billion returned to the government through federal and state False Claims Act cases. Of the 30 largest recoveries in Fiscal Year 2012, 28 were the result of whistleblower-initiated suits.
In one of the first False Claims Act settlements involving Medicare Part D, the Medicare prescription drug program, RxAmerica LLC has agreed to settle fraud claims with the Department of Justice for $5.25 million.
The Consumer Financial Protection Bureau (CFPB) is considering issuing rules aimed at preventing abuses in the reverse mortgage market. The agency is responding to an increasing number of claims by consumers who report losing their homes or facing substantial expense as a result of reverse mortgage scams.
The state of North Carolina has recovered $15.8 million as part of a national healthcare fraud settlement of $800 millon between Abbott Labs and the federal government.
The US Department of Justice announced a $5.25 million settlement in a whistleblower lawsuit against RxAmerica. The suit involved Medicare Part D payments.
CVS Caremark has settled whistleblower suits involving claims in California, Florida, and Illinois for $19.9 million.
Omnicare, Inc., a supplier of drugs to nursing homes, agreed to settle a whistleblower lawsuit claiming it paid a kickback in buying a pharmacy company and that it submitted false claims for reimbursement to government health insurers.
CareAll Management, LLC (formerly known as Diversified Health Management, Inc.) and related entities have agreed to pay $9.375 million to the federal government to resolve a whistleblower suit filed under the False Claims Act.
The Consumer Financial Protection Bureau (“CFPB”) announced on October 1, 2012 that three American Express subsidiaries will refund $85 million to approximately 250,000 customers in connection with illegal credit card practices.
The American Journal of Managed Care published the results of a study concluding that there will be an increased number of people treated for cancer in the next decade, and that the related medical expenses will increase dramatically, even doubling in some areas.
The Consumer Financial Protection Bureau (“CFPB”) recently announced that it will issue rules to govern prepaid cards, a largely unregulated market targeted at unbanked consumers and those with spotty credit.
The Internal Revenue Service (“IRS”) awarded a former UBS banker an award of $104 million for his assistance in helping expose the fraudulent conduct of UBS.
The State of New York Attorney General recently announced an $18 million settlement with food management services provider Compass Group USA, Inc. (“Compass”) for improperly overcharging New York schools and school districts.
The State of New York Attorney General recently announced an $18 million settlement with food management services provider Compass Group USA, Inc. (“Compass”) for improperly overcharging New York schools and school districts. Compass secured discounts from food vendors with which it worked, but did not pass on those savings to New York schools, as required by law.