Debt

Praises the public for their active role in the debate

TRENTON - Congressman Rob Andrews today endorsed New Jersey Governor Corzine's Financial Restructuring and Debt Reduction Proposal that would pay down half of the state's $32 billion debt and fund transportation projects for a generation.    » read more »

Williamsville-based outfit repeatedly harassed consumers

ALBANY, N.Y. (December 18, 2007) – New York Attorney General Andrew M. Cuomo today announced that a Western New York debt collection company that acted overzealously in attempting to collect debts from consumers – including using abusive, false and misleading tactics – has agreed to pay $85,000 in penalties and costs and immediately reform its business practices.    » read more »

Reaches Agreement To Prohibit Unlawful Debt Collection

December 10, 2007 -- BOSTON – Massachusetts Attorney General Martha Coakley’s Office reached a preliminary agreement with The Cadle Company (TCC), The Cadle Company II, Inc. (TCC II), and Daniel C. Cadle (Cadle), all of Ohio, prohibiting them from engaging in unfair and unlawful debt collection as outlined in a complaint filed in Suffolk Superior Court on Friday, December 7, 2007. The defendants do not have the necessary licenses to collect debt in the Commonwealth.    » read more »

Florida Debit-Processing Firm Withdrew $200 Million in Unauthorized Charges

December 11, 2007 -- Chicago – Illinois Attorney General Lisa Madigan has joined with six other states and the Federal Trade Commission (FTC) in suing to halt a Florida company from fraudulently facilitating more than $200 million in debit charges from unsuspecting consumers' checking accounts.    » read more »

Resulting in $3 Million in Canceled Debt for 861 West Virginia Consumers

November 27, 2007 -- West Virginia Attorney General Darrell McGraw recently entered into a settlement agreement with Excalibur I, LLC, a debt purchaser based in Lake Success, New York, that resulted in the cancellation of more than $3 million in debt allegedly owed by 861 West Virginia consumers. Excalibur also agreed to dismiss 119 collection lawsuits that it had filed against West Virginia consumers and to release any court judgments that had already been obtained.    » read more »

October 26, 2007 -- Connecticut Attorney General Richard Blumenthal today confirmed that his office has issued subpoenas to the three largest debt rating agencies as part of an antitrust investigation into the commercial debt rating industry.

Blumenthal sent the subpoenas October 10 to Standard & Poors, Moody's Investor Services and Fitch Ratings Service. Standard & Poors and Moody's control about 80 percent of the debt rating market -- assessments of corporate, bank, mortgage, government and other borrowers' ability to pay back a given loan.    » read more »

Also Signs Bills Continuing Appropriations for Fiscal Year 2008 and TMA, Abstinence Education, and QI Programs Extension Act of 2007

September 29, 2007 -- On Saturday, September 29, 2007, the President signed into law:

H.J.Res. 43, which increases the statutory limit on the public debt limit;

H.J.Res. 52, making continuing appropriations for fiscal year 2008; and    » read more »