BALTIMORE, MD—On August 24, 2022, the White House announced a Student Debt Relief Plan that includes one-time student loan debt relief targeted to low- and middle-income families. The U.S. Department of Education) will provide up to $20,000 in debt relief to Federal Pell Grant recipients and up to $10,000 in debt relief to non-Pell Grant recipients. Borrowers with loans held […]
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh this week announced that the state’s Consumer Protection Division, along with 17 other State Attorneys General and the Federal Trade Commission (FTC), joined a multistate agreement resolving allegations that national jewelry retailer Harris Jewelry targeted and defrauded military servicemembers and veterans. The states and the FTC alleged that the jewelry company used deceptive […]
BALTIMORE, MD—The Office of the Attorney General’s Securities Division this week announced that it is participating in a multi-jurisdictional, coordinated enforcement action to stop a fraudulent precious metals scheme that resulted in investments exceeding $68 million from at least 450 investors nationwide. The Securities Division has joined the Commodity Futures Trading Commission (CFTC) and 26 other state securities regulators in […]
BALTIMORE, MD—Maryland Department of Labor Secretary Tiffany P. Robinson on Tuesday announced that Maryland’s unemployment insurance claimants will begin receiving their benefit payments via direct deposit beginning in April. The transition from Bank of America debit cards to direct deposit comes as a result of a new contract with Wells Fargo. “Maryland’s unemployment insurance claimants will begin receiving their benefit […]
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 […]