USDOJ: Attorney General Eric Holder Launches Consumer Protection Working Group to Combat Consumer Fraud

February 11, 2012

Created as part of President Barack Obama's Financial Fraud Enforcement Task Force (FFETF), the Consumer Protection Working Group recently held its first meeting in Washington, D.C., to discuss different types of consumer fraud. The group will work across law enforcement and regulatory agencies, utilizing state and local partners, to bolster efforts to address consumer fraud -- including schemes that target users of payday loans and borrowers saddled with steep credit card debt. "Through the extensive and coordinated partnership we start today, we will strengthen our collective efforts, enhance civil and criminal enforcement of consumer fraud and educate the public in an effort to prevent consumers from being victimized in the first place," said Attorney General Eric Holder. The group is expected to target several areas of concern, including payday lending, high-pressure telemarketing or Internet scams, business opportunity scams, for-profit schools that participate in fraudulent activities, and fraudulent third-party processors that facilitate payment on behalf of other fraudsters. The group also plans to create a best-practices tool kit; legislative, regulatory and policy initiatives; and an information-sharing structure.
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