BALTIMORE, MD—Maryland Attorney General Brian E. Frosh announced on Tuesday that the Securities Division entered into a $20 million settlement with Wells Fargo & Company. The Consent Order resolves financial crisis-era claims that Wells Fargo misled investors in its issuance of residential mortgage-backed securities (RMBS). The $20 million settlement is the largest reached by a state for Wells Fargo’s financial-crisis …
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Tuesday announced a multistate settlement with Santander Consumer USA Inc. (Santander) that includes more than $500 million in relief for consumers. The settlement resolves allegations that Santander violated consumer protection laws by exposing subprime consumers to unnecessarily high levels of risk by placing them into auto loans that Santander had determined had …
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Friday joined a bipartisan coalition of 26 attorneys general in calling on the U.S. Department of Housing and Urban Development (HUD) to take immediate action to protect senior citizens from homelessness as a result of the COVID-19 pandemic. In a letter sent to HUD Secretary Ben Carson, the coalition recommends specific actions …
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh this week issued a reminder about stimulus payments being issued to Maryland residents as part of the federal Coronavirus Aid, Relief and Economic Security (CARES) Act. On April 29, 2020, Governor Larry Hogan issued Executive Order 20-04-29-03 prohibiting financial institutions from garnishing this financial assistance, except as related to child support. The CARES …
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Tuesday joined a coalition of 22 attorneys general warning the nation’s three Consumer Reporting Agencies (CRAs) that, as Americans continue to struggle from the economic fallout of the COVID-19 public health crisis, they will not hesitate to enforce safeguards set in place to ensure consumers’ credit is properly protected and that their …
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh this week joined a bipartisan coalition of 35 attorneys general in sending letters to the Federal Housing Finance Administration (FHFA) and the Department of Housing and Urban Development (HUD) recommending actions to help homeowners in the wake of the COVID-19 pandemic. The coalition applauded federal efforts to suspend evictions and foreclosures, as well …
BALTIMORE, MD—Amid the ongoing COVID-19 pandemic, Maryland Attorney General Brian E. Frosh warned consumers on Tuesday to be wary of an anticipated surge in fraudulent investment schemes. “In these extraordinary times the health and welfare of all must be our foremost concern, and that includes our financial health” said Attorney General Frosh. “Scammers will begin perpetrating schemes that require little …
WASHINGTON, DC—Working with the U.S. Treasury Department, the Internal Revenue Service on Wednesday unveiled a new Get My Payment tool with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information. With an initial round of more than 80 million Economic Impact Payments starting to hit bank accounts over the weekend and throughout this …