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SEC charges stock promoters in phony fax scam

July 21, 2005 EST | Financial News

Washington, D.C., July 18, 2005 - The Securities and Exchange Commission today filed charges in a scam designed to con investors into believing they had inadvertently received a confidential stock tip faxed from a stockbroker to his client. Unlike typical...

Fraudulent “Debt Negotiators” settle FTC charges

July 21, 2005 EST | Debt Consolidation , Financial News

A group of defendants promising negotiation services that would “drastically” reduce consumers’ debts have settled Federal Trade Commission charges that their deceptive claims violated federal law and harmed consumers who engaged the defendants’ services and stopped contacting creditors. The defendants...

OCC encourages National Banks to work with customers affected by hurricane Dennis

July 16, 2005 EST | Consumer Info , Financial News

WASHINGTON - The Office of the Comptroller of the Currency (OCC) has outlined measures to assist national banks and their customers affected by Hurricane Dennis. The OCC regulates national banks. The OCC recognizes that the effects of natural disasters on...

Collection company settles unauthorized billing charges

July 16, 2005 EST | Consumer Info , Financial News

A company that sent bills to consumers for services consumers did not order has agreed to settle FTC charges that the billing scheme violated federal law. The company is barred from billing consumers without their express consent and is required...

FOMC board discount rate action

July 08, 2005 EST | Consumer Info , Financial News

The Federal Open Market Committee decided today (6/30/2005) to raise its target for the federal funds rate by 25 basis points to 3-1/4 percent. The Committee believes that, even after this action, the stance of monetary policy remains accommodative and,...

SEC charges individuals with fraudulent scheme to obtain stock in NewAlliance Bankshares IPO

July 08, 2005 EST | Consumer Info , Financial News

Washington, D.C., June 28, 2005 - The Securities and Exchange Commission today announced the filing of civil fraud charges against five individuals in connection with the initial public offering of NewAlliance Bancshares, Inc. The fraud arises out of a scheme...

BJ'S Wholesale Club settles FTC charges

June 18, 2005 EST | Financial News

BJ’s Wholesale Club, Inc. has agreed to settle Federal Trade Commission charges that its failure to take appropriate security measures to protect the sensitive information of thousands of its customers was an unfair practice that violated federal law. According to...