A Pennsylvania debt collector conducted fake court hearings in a mock courtroom in its offices and even sent uniformed officers who appeared to be sheriff’s deputies to serve civil subpoenas demanding that consumers appear for “hearings” and “depositions,” the state attorney general’s office contends in a lawsuit.Intimidated consumers allegedly provided their bank account numbers and even turned over the title to their cars.The action seeks an order from a real state court freezing the assets of Unicredit America Inc. and prohibiting the company from continuing to collect debts or conduct further proceedings at its Unicredit Debt Resolution Center in Erie, according to a press release from the office of Pennsylvania Attorney General Tom Corbett.The suit, which was filed by the office’s Bureau of Consumer Protection, alleges violations of the state Consumer Protection Law and federal Fair Debt Collection Practices Act.“This is an … [Read more...] about Debt Collector Faked Court Hearings to Trick Consumers into Paying Up, Says AG’s Suit
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Financial aid still comes with crippling debt for some UC students, study finds
SECTIONS Search E-edition Customer Service Customer Service SacBee Rewards About Us About Us Contact Us Apps Mobile & Apps Twitter, Facebook, Google+, YouTube News in Education (NIE) Newsletters Local Sacramento Region Arena City Beat Crime Local Govt Salary Database The Homeless Marcos Bretón Transportation Education Environment Health & Medicine Traffic Conditions Weather Communities Elk Grove Folsom/El Dorado Roseville/Placer Yolo Sports Sports Kings NBA News 49ers Giants Oakland A's High School Sports Joe Davidson More Sports Raiders NFL News MLB News River Cats Soccer Colleges Golf Autos Racing Politics Politics Capitol Alert State Workers The California Influencer Series Local Elections PoliGRAPH State Worker Salary Database Legislative Gifts … [Read more...] about Financial aid still comes with crippling debt for some UC students, study finds
National Taxpayer Advocate 2016 Report – IRS Appeals and Alternative Dispute Resolution
In its annual report to the US Congress, the Taxpayer Advocate Service (TAS) had a lot to say about IRS Appeals and the (lack of) use of other alternative dispute resolution (ADR) techniques. In this post, we will highlight what the TAS had to say in this area.IRS AppealsUndoubtedly, one of the Internal Revenue Service’s (IRS) most successful dispute resolution techniques has been IRS Appeals. Briefly, after the IRS’s Examination Division proposes a tax adjustment, taxpayers have the statutory right to seek an “appeal” of the decision. IRS Appeals is a separate and seemingly independent division of the IRS where one or more appeals officers review the redeterminations and adjustments made by the Examination Division, and attempt to settle the dispute directly with the taxpayer based upon a “hazards of litigation” analysis, much in the same manner as a judge would rule. The TAS acknowledged the success and utility of the IRS Appeals program and … [Read more...] about National Taxpayer Advocate 2016 Report – IRS Appeals and Alternative Dispute Resolution
The Consumer Financial Protection Bureau, Week in Review: June 3 – June 7, 2013
CFPB Amends TILA and ECOA Examination Manuals to Cover New RulesOn June 4th, the CFPB updated its TILA and ECOA examination manuals to encompass rules it issued this past January governing appraisals, escrow accounts, and compensation and qualifications for loan originators.1 The new sections seek to enhance banks and mortgage lenders’ understanding about how the exams will test compliance with the new rules. Among other things, the new rules:Set qualification and screening standards for loan originators; Prohibit steering incentives;Prohibit “dual compensation” for loan originators;Protect borrowers of higher-priced mortgage loans by increasing the duration of escrow accounts to a minimum of five years;Prohibit the waiver of federal claims;Generally prohibit mandatory arbitration;Require lenders to provide free appraisal reports and written valuations to the consumer; andProhibit a creditor from financing single premium credit insurance with certain … [Read more...] about The Consumer Financial Protection Bureau, Week in Review: June 3 – June 7, 2013
European Bank Resolutions – Trust Regulators, but Keep Your Powder Dry
In times of financial turbulence, politicians, regulators and the media make the case for tighter controls of the markets. However, with new regulatory powers coming in and the resulting extra layer of complexity that their application brings, investors have their reasons not to put their trust in regulators. As seen with recent developments in Portugal and Italy, a number of competing motivations surround the rescue of financial institutions. The old maxim – “Put your trust in God, but keep your powder dry” - may be applied to describe investor sentiment in an environment where treating senior investors equitably has not been a priority for local regulators. The BRRDIn the European Union, the Bank Recovery and Resolution Directive[1] (“BRRD”) was implemented to equip national authorities with a new framework for recovery and resolution of EU credit institutions and significant investment firms, providing for harmonised tools and … [Read more...] about European Bank Resolutions – Trust Regulators, but Keep Your Powder Dry