U.S. Senators Want To Know Whether State Attorneys General Have Uncovered Pension Factoring Abuses

U.S. Senators Want To Know Whether State Attorneys General Have Uncovered Pension Factoring Abuses

State officials in New York and Massachusetts are investigating pension factoring and possible abuses by pension factoring companies, as described here.

Have state attorneys general uncovered such abuses?

Some U.S. Senators want to know, according to a report (available here) published last week, which said that the chairman and ranking member of the Senate Health, Education, Labor and Pensions Committee sent a letter to the National Association of Attorneys General, requesting documentation and information about those who may have been targeted by pension factoring companies with transactions involving “potentially illegally high rates of interest repayment”.

Prior Secondary Insurance Market Blog posts on recent pension factoring news are also available hereherehere, here and here.

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