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Concerns have been raised about large banks beginning to make short-term loans similar to those found in the oft-criticized and problem-plagued payday lending arena. Banks have faced lower revenue as a result of limits on debit card and overdraft fees. Those lenders are now offering high-cost loans that are meant […]
CFPB To Begin Oversight of Debit Collectors
Debt collection agencies will come under federal review for the first time beginning January 2, 2013, when the Consumer Financial Protection Bureau (CFPB) begins oversight. The agency’s authority to oversee debt collection agencies comes under the portion of the Dodd-Frank regulatory law that deals with nonbank financial companies. CFPB will […]
FTC Obtains Settlement in Phony Debt Collection Case
The Federal Trade Commission (FTC) reached a settlement with defendants in the United States who abetted unlawful debt collection calls from India. A California man who worked with bogus debt collectors in India has agreed to settle FTC charges that he and his companies deceived and threatened consumers into paying […]
Regular Checks of Credit Reports Will Help Consumers’ Creditworthiness Ratings
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. Past studies of the accuracy of credit reports found that between 30 percent and 80 […]
Boehringer Ingelheim Settles False Claims Act Case for $95 Million
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 drugs at issue are Aggrenox, a medication used to […]
CFPB Now Accepting Credit Reporting Complaints
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. To file a credit reporting complaint, consumers can file online at www.consumerfinance.gov/complaint. Consumers can also lodge a complaint by phone at […]
Fiscal Year 2012 A Record Year for False Claims Act Recoveries
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. The largest settlement was for $3 billion, with GlaxoSmithKline over illegal marketing of nine […]
CVS Subsidiary Settles False Pricing Allegations Related to Medicare
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. RxAmerica is a wholly-owned subsidiary of CVS Caremark Corporation and provides prescription drug benefits to Medicare […]
CFPB Investigates Reverse Mortgage Market
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. Complaints have escalated […]
NC Receives $15.8 Million From Abbott Labs Whistleblower Settlement
In conjunction with a national healthcare fraud settlement with Abbott Labs, North Carolina has recovered $15.8 million. That is the state’s portion of the recently announced $800 million settlement between Abbott Labs and the federal government and states involving the drug Depakote. That drug was approved by the FDA to […]
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“Forest, once again, my family and I thank you for obtaining another settlement on behalf of my Father. It’s almost uncanny that these checks seem to come at very opportune times. This one comes as we are expecting our fourth grandchild. It will provide her some sound footing towards her future college education, plus help Mom and Dad with the medical expenses. Sometimes, I think my Dad is helping you guys with this. Maybe so. Anyway, thank you again for your hard work.”
– Mike
