In addition to asbestos deregulation, the Environmental Protection Agency has also removed restrictions on other pollutants, such as those in the vehicle industry. Former agency director Scott Pruitt announced on his last day in office that the agency will remove production limits on “super-polluting” glider trucks. As part of the […]
Category: Consumer Protection
Health Insurance and Managed Care Abuse: What are your rights when care is denied?
Remember the days when you purchased a health insurance plan from a health insurer, and you brought that health plan to the doctor when you were sick? You met with your doctor, the doctor prescribed treatment that you needed, and your health plan paid its portion of the doctor’s bill […]
DEQ, DHHS and CFPUA all Taking Steps to Address GenX in Wilmington’s Drinking Water
On June 16, 2017, the Cape Fear Public Utility Authority (CFPUA) Board of Directors met to discuss the presence of GenX in the Cape Fear River, and what steps should be taken. The board unanimously passed two resolutions: (1) Chemours should remove the compound entirely from the Cape Fear River; […]
Were you sold Universal Life Insurance and told the premium would never increase?
When interest rates were very high in the 1980s and 1990s, insurance companies aggressively sold Universal Life Insurance policies promising the customers that their monthly premiums would never increase. However, these insurance companies knew that the premiums on these policies would increase when interest rates inevitably went down, but chose […]
CFPB Proposes Federal Protections for Prepaid Products
The Consumer Financial Protection Bureau (“CFPB”) has proposed new, strong federal consumer protections for the prepaid market. Prepaid products are consumer accounts typically loaded with funds by a consumer or a third party, such as an employer. Consumers can use these products to make payments, store funds, receive direct deposits, […]
National Consumer Law Center Issues Online Petitition Regarding Forced Arbitration
The National Consumer Law Center and the National Association of Consumer Attorneys have issued an online petition in advance of the Consumer Financial Protection Bureau’s final arbitration study. The petition urges the nation’s largest financial institutions to discontinue including mandatory arbitration agreements in consumer contracts. The online petition comes as […]
Bank of America Will Pay $16.65 Billion to Settle Fraud Charges
On August 21, 2014, the U.S. Department of Justice (“DOJ”) announced a $16.65 billion settlement with Bank of America in connection with charges of financial fraud in the lead-up to and during the financial crisis. According to the DOJ press release, the settlement represents “the largest civil settlement with a […]
Bank of America to Reportedly Pay $17 Billion in Mortgage Settlement
Reports surfaced this week that Bank of America and the U.S. Department of Justice have reached a tentative deal under which the bank would pay nearly $17 billion to resolve an investigation into its sale of toxic mortgage securities in the run-up to the financial crisis. It would represent the […]
Justice Department Announces $4 Billion Civil Penalty to be Paid by CitiGroup
On July 14, 2014, the U.S. Department of Justice announced a $7 billion settlement with CitiGroup, Inc. to resolve federal and state claims related to CitiGroup’s actions with residential mortgage-backed securities prior to January 1, 2009. The settlement includes a $4 billion civil penalty, the largest penalty ever under the […]
CitiGroup to Pay $7 Billion to Settle Mortgage Fraud Claims
CitiGroup has agreed to pay $7 billion to settle charges that it packaged bad mortgages in the period leading up to the financial crisis. The settlement includes $4 billion in penalties, $2.5 billion in mortgage modifications and other relief to homeowners, and $500 million to be paid to a number […]