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.
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.
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.
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.
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.
Tennessee Attorney General Herbert H. Slatery III, along with the Tennessee Division of Consumer Affairs and 48 other states, today announced a $71 million nationwide settlement with Amgen Inc. to resolve allegations that the company violated state consumer protection laws. Amgen Inc. is a California based biotechnology company that manufactures and sells pharmaceutical products, including Aranesp and Enbrel.
Today's settlement resolves allegations that Amgen unlawfully promoted both medications. The Complaint and Agreed Final Judgment alleges that Amgen violated the law by: (1) promoting Aranesp for dosing frequencies longer than the FDA approved label without competent and reliable scientific evidence to substantiate the extended dosing frequencies; (2) promoting Aranesp for anemia caused by cancer without having FDA approval or competent and reliable scientific evidence to support it; and (3) promoting Enbrel for mild plaque psoriasis even though Enbrel is only approved by the FDA to treat chronic moderate to severe plaque psoriasis...read the Amgen release.
Tennessee Attorney General Herbert H. Slatery III and Bill Giannini, acting Director of the Tennessee Division of Consumer Affairs, along with 46 other states and the Consumer Financial Protection Bureau, announced a $136 million nationwide settlement with Chase Bank USA N.A. and Chase Bankcard Services Inc.
The agreement requires Chase to significantly reform its credit card debt collection practices and cease collections on more than a half million people nationwide. Among other reforms, the agreement requires new safeguards to help ensure debt information is accurate, provides additional information to consumers who owe debts, and bars Chase's debt buyers from reselling consumer debts to other purchasers...read the Chase release.