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Consumer Press Releases

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  • February 24, 2016

    Tennessee consumers eligible for refunds and loan forgiveness

    Tennessee Attorney General Herbert H. Slatery III today announced a $3 million settlement with Festiva, a network of vacation and timeshare companies, for alleged violations of the federal Telemarking Act, federal Telemarketing Sales Rule, and the Tennessee Consumer Protection Act.

    Under the terms of the settlement, Festiva has agreed to provide $1,250,000 in cash restitution and up to $1,000,000 in loan forgiveness for eligible Tennesseans, and make a $750,000 payment to the State of Tennessee. In addition, Festiva has agreed to specific guidelines prohibiting unfair, deceptive, or misleading acts or practices in connection with their telemarketing and face-to-face sales of vacation or timeshare products...read the Festiva release.


    February 22, 2016

    Attorney General Announces Settlement with Global Credit Card Transaction Processor

    On November 4, 2015, Attorney General Herbert H. Slatery III and the Tennessee Division of Consumer Affairs announced a settlement with Elavon, Inc., a global company specializing in products and services that enable retailers to process credit card transactions.

    The State's settlement resolved allegations that Elavon and its subsidiary, Ladco Financial Group, LLC, violated the Tennessee Consumer Protection Act by misrepresenting: (1) the cancellation policy of its credit card processing equipment leases; (2) the duration of credit card processing equipment leases; and (3) the compatibility of credit card processing equipment...read the Elavon release.


    February 5, 2016

    Thousands of Tennessee borrowers eligible for cash payments or loan modifications

    Attorney General Herbert H. Slatery III today announced a $470 million joint state-federal settlement with mortgage lender and servicer HSBC to address mortgage origination, servicing, and foreclosure abuses.

    The settlement with Tennessee and 48 other states, the District of Columbia, U.S. Department of Justice, the U.S. Department of Housing and Urban Development, and the Consumer Financial Protection Bureau, provides direct payments, loan modifications, as well as other relief for Tennessee borrowers. In addition, the settlement implements rigorous mortgage servicing standards and grants oversight authority to an independent monitor...read the HSBC release.


    December 4, 2015

    Tennessee Attorney General Herbert H. Slatery III, along with the Tennessee Division of Consumer Affairs, informs consumers they may now file claims to recover the unused balance on RadioShack gift cards. Holders of gift cards purchased from the former retailer RadioShack are eligible to recoup 100% of the remaining balance on the cards.

    The claims process is part of a settlement agreement previously approved in the U.S. Bankruptcy court in Wilmington, Delaware and supported by 24 states and the District of Columbia...read the RadioShack release.


    November 16, 2015

    EDMC to forgive $102 million in student loans nationwide

    Tennessee Attorney General Herbert H. Slatery III, along with the Tennessee Division of Consumer Affairs, today announced a settlement with Education Management Corporation (EDMC) that will lead to major reforms and student loan forgiveness. As part of the agreement, EDMC, a for-profit education company, is required to significantly reform its recruiting and enrollment practices, and forgive more than $2.1 million in loans for over 1,400 former Tennessee students.

    EDMC, based in Pittsburgh, Pennsylvania, operates 110 schools in 32 states and Canada through four education systems, including Argosy University, The Art Institutes, Brown Mackie College and South University...read the EDMC release.


    November 4, 2015

    Customers eligible for refunds must file by February 27, 2016

    Tennessee Attorney General Herbert H. Slatery III, along with the Tennessee Division of Consumer Affairs, today announced a settlement with Elavon, Inc. to resolve allegations that the company violated state consumer protection laws. With offices in Knoxville, Elavon, Inc. and its subsidiary, Ladco Financial Group, LLC, is a global company specializing in products and services that enable retailers to process credit card transactions.

    Today's settlement resolves allegations that Elavon violated the law by misrepresenting: (1) the cancellation policy of its credit card processing equipment leases; (2) the duration of credit card processing equipment leases; and (3) the compatibility of credit card processing equipment...read the Elavon release.


    October 6, 2015

    Approximately 200,000 T-Mobile users in Tennessee Potentially Impacted

    Recent reports estimate 15 million T-Mobile customers nationwide, and roughly 200,000 Tennesseans, who applied for credit through Experian are at risk of having their data compromised. The data breach occurred when an unauthorized party gained access to an Experian server containing personal information, including names, addresses, birth dates, social security numbers, driver's license numbers and passport numbers...read the Experian release.