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Other Federal Enforcement Actions

					
Numerous federal agencies have authority to institute enforcement proceedings against wrongdoers.  These agencies include:


    

  • The Department of the Treasury and its divisions including the Financial Crimes Enforcement Network (FINCEN), which is responsible for safeguarding the U.S. financial system from illicit use and money laundering including through enforcement of the Bank Secrecy Act, and the Office of Foreign Assets Control (OFAC), which enforces economic and trade sanctions. Whistleblowers with knowledge of violations of the Bank Secrecy Act can submit a claim under the Anti-Money Laundering Whistleblower Program.  Violations of other laws enforced by the Department of Treasury may give rise to claims under different whistleblower reward programs.
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  • The Federal Trade Commission (FTC), which is charged with preventing anticompetitive, deceptive, and unfair business practices. The FTC can bring enforcement actions under U.S. antitrust laws and to stop unfair, deceptive and fraudulent business practices. The FTC does not have any authority to pay financial rewards to whistleblowers; however, conduct that is regulated by the FTC may also give rise to a claim under a different whistleblower reward program.
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  • The Consumer Financial Protection Bureau (CFPB), created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which regulates the offering and provision of consumer financial products or services under the federal consumer financial laws, and has the authority to bring enforcement actions against financial service providers. While the CFPB accepts tips from whistleblowers, and applicable laws offer whistleblowers protection from retaliation, there is currently no provision for CFPB whistleblowers to receive financial rewards. However, conduct that is regulated by the CFPB may also give rise to a claim under a different whistleblower reward program.
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  • The Environmental Protection Agency, which enforces federal environmental laws and regulations. The EPA does not currently have any authority to pay financial rewards to whistleblowers; however, conduct that is regulated by the EPA may also give rise to a claim under a different whistleblower reward program, and a number of federal environmental laws protect government or private employees reporting environmental violations under the statutes from retaliation.
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Below are summaries of recent settlements and successful enforcement actions involving these agencies. If you believe you have information about fraud which could give rise to a claim under a whistleblower reward program, please contact us to speak with one of our experienced whistleblower attorneys.

				

			

			
						
					
			

	
		
		

			

				
				
September 23, 2016

				 The CFPB filed a federal lawsuit against the credit repair company Prime Marketing Holdings, LLC alleging it charged consumers a series of illegal advance and also misrepresented the cost and effectiveness of its services. The CFPB is seeking to halt the company’s harmful conduct and to obtain relief for consumers, including refunds of fees paid to the defendant.  CFPB				 					 

						
Tagged in:
													  Misrepresentations, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 22, 2016

				 The operators of an alleged mortgage relief scam that preyed upon distressed homeowners are banned from the mortgage loan modification and debt relief business under a court order obtained by the FTC. The order stems from a case the FTC brought in July 2014 against five defendants as part of a federal-state law enforcement effort called Operation Mis-Modification.  According to the FTC, the defendants, operating under the fictitious names “2Apply” and “UW Solutions,” falsely claimed they could lower consumers’ mortgage payments and interest rates or prevent foreclosure, pretended to be affiliated with a government agency or consumers’ lenders or servicers, and illegally charged advance.  The final orders impose a judgment of more than $1.7 million and bans defendants from selling secured or unsecured debt relief products or services.  FTC				 					 

						
Tagged in:
													  Housing and Mortgage Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 21, 2016

				 The CFPB sued five Arizona title lenders— Auto Cash Leasing, LLC; Interstate Lending, LLC; Oasis Title Loans, LLC; Phoenix Title Loans, LLC; and Presto Auto Loans, Inc. — for failing to disclose the annual percentage rate in online advertisements about title loans. The companies allegedly advertised a periodic interest rate for their loans without listing the corresponding annual percentage rate. The CFPB is seeking civil monetary penalties and administrative orders requiring the companies to correct their practices.  CFPB				 					 

						
Tagged in:
													  Misrepresentations, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 15, 2016

				 The FTC alleged that business directory companies Construct Data Publishers a.s., also doing business as Fair Guide, tricked retailers, home-based businesses, local associations and others into thinking they had a preexisting business relationship with them.  The defendants falsely suggested that consumers had to return a form confirming or updating their contact information for a trade show they had attended or planned to attend.  Many recipients did not notice a statement, buried in fine print at the bottom of the form, that by signing and returning it they were agreeing to pay $1,717 annually to the company for a listing on its website.  A court entered an order against Construct Data Publishers imposing a $7 million default judgment and banning them from the business directory business.  FTC				 			
	
		
		
	


 			




	
		
		

			

				
				
September 12, 2016

				 The CFPB took action against for-profit college chain Bridgepoint Education, Inc. for deceiving students into taking out private student loans that cost more than advertised. Bridgepoint has been ordered to pay an $8 million civil penalty, discharge all outstanding private loans the institution made to its students and to refund loan payments already made by borrowers. CFPB				 					 

						
Tagged in:
													  Education Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 8, 2016

				 The CFPB fined Wells Fargo Bank, N.A. $100 million for the widespread illegal practice of secretly opening unauthorized deposit and credit card accounts.  Wells Fargo employees opened more than 200 million accounts that may not have been authorized.  In addition to the $100 million CFPB penalty, the largest the CFPB has ever imposed, Well Fargo will pay full restitution to the victims and two other penalties totaling $85 million.  CFPB				 					 

						
Tagged in:
													  Financial Institution Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 7, 2016

				 The FTC is mailing 6,192 refund checks totaling more than $1.3 million to people defrauded by Oro Marketing, Inc., a telemarketing scheme that targeted Spanish-speakers with false promises that they could make money by reselling high-end goods such as Gucci and Ralph Lauren. The FTC alleged the company charged more than $400 per package but delivered only shoddy, off-brand products. Defrauded consumers will get nearly a third of their money back, with the average check totaling $216.  FTC				 			
	
		
		
	


 			




	
		
		

			

				
				
September 1, 2016

				 The principals of a mortgage relief operation and their companies, Edward William Rennick III, Surety Law Group LLP and Redstone Law Group LLC, are banned from the mortgage loan modification and debt relief business under court orders obtained by the FTC. The orders resolve charges that the scheme falsely promised financially distressed homeowners they would receive legal representation to prevent foreclosure or lower their mortgage payments and interest rates, and illegally charged thousands of dollars in advance. FTC				 					 

						
Tagged in:
													  Housing and Mortgage Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
August 29, 2016

				 The ringleader and two other defendants in the massive IWorks online billing scheme have agreed to settle FTC charges that they took more than $280 million from consumers via deceptive “trial” memberships for bogus government-grant and money-making products. In addition, the wife and parents of IWorks’ owner and CEO Jeremy Johnson have agreed to settle FTC charges that they received assets and funds as gifts from Johnson that came from the unlawful scheme. FTC				 					 

						
Tagged in:
													  Grant and Research Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
August 25, 2016

				 The CFPB ordered First National Bank of Omaha to provide $27.75 million in relief to roughly 257,000 consumers harmed by illegal practices with credit card add-on products. The bank used deceptive marketing to lure consumers into debt cancellation add-on products and charged consumers for credit monitoring services they did not receive. First National Bank of Omaha will also pay a $4.5 million civil money penalty to the CFPB.  CFPB				 					 

						
Tagged in:
													  Financial Institution Fraud, 
												
						

					
	
							
	
		
		
	


 			


											

						

								

									
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