January 31st, 2008 joshua
Countrywide Financial Corp. confirmed that it received a subpoena from Florida’s Attorney General wanting information on its business practices, The Wall Street Journal is reporting.
Countrywide is at the core of the investigation into predatory loan techniques. The Florida AG wants information on how the company handles payments from borrowers, sales practices and its loan standards.
The […]
January 30th, 2008 joshua
The FBI is opening criminal inquiries on 14 companies as the nation looks to solve the mortgage fraud epidemic that’s plaguing the economy.
The investigation is aiming at possible accounting fraud and insider trading among lenders who gave money to subprime borrowers, according to an article appearing today in The New York Times.
No companies were identified […]
January 30th, 2008 amy
Ashley Furniture has agreed to settle with the State of Arizona over numerous customer complaints over delivery and deceptive advertising.
The company agreed to pay $400,000 to the state and it will be used to pay for consumer fraud education, attorneys’ fees and investigation costs, KTAR.com reports. Ashley must change its business practices regarding advertising and […]
January 29th, 2008 joshua
Consumers may be a touch too paranoid when they sign up for additional credit protection offered by their lenders, reports an article appearing the Chattanooga (Tenn.) Times Free Press.
Author Ellen Phillips, who’s written several consumer advocacy books, suggests so-called additional credit protection – typically offered as an additional monthly fee ranging from $10-20 – is […]
January 28th, 2008 amy
On January 25, ConsumerAffairs.com reported that EdebitPay LLC, which marketed pre-paid Visa and MasterCard debit cards to subprime consumers, has agreed to settle Federal Trade Commission charges that it made unauthorized debits from consumers’ bank accounts and engaged in deceptive marketing practices. The settlement requires the LA based company to pay $2,258,258 for consumer […]
January 25th, 2008 joshua
Pennsylvania’s Attorney General has filed a lawsuit against a popular weight loss center that recently closed it doors.
The office says Pure Weight Loss, formerly known as L.A. Weight Loss was taking new membership fees from customers after it had announced it would shut its operation. The company and its owner is being charged with consumer […]
January 25th, 2008 amy
Florida Attorney announced yesterday that his office has filed a lawsuit against Elite Purchasing Group, an online furniture company from Broward County, because the company misled consumers about its ability to deliver requested merchandise. The Attorney General’s Office received more than 60 complaints about the company in only 18 months, most citing the company’s […]
January 24th, 2008 joshua
A New Jersey-based wedding photo studio is facing four counts of consumer fraud after it failed to deliver any goods or refunds to newlyweds.
The state’s Attorney General’s office filed the claims against Celebration Studios Inc. and its owner Mark S. Schwartz. It accuses the company of failing to provide photos, videos and other items to […]
January 24th, 2008 joshua
The Fernley (Nev.) Leader newspaper recently published a list of tips to avoid foreclosure fraud.
Though homeowners hear of terms such as “equity skimming”, “phantom help”, “the Bailout”, “the Bait and Switch”, many do not understand when they are happening.
The paper suggests getting detailed information about deadlines, paying special attention to when a homeowner would lose […]
January 23rd, 2008 amy
Get rich quick schemes run by Imergent, Inc and StoresOnline, Inc are allegedly using deceptive practices to get consumers to buy expensive website-creation products and services, or so says the Florida Attorney General’s lawsuit against the two Utah companies.
According to ConsumerAffairs.com, the companies run seminars in Florida and other states at which they tell consumers […]
