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Archive | Pension Factoring

Columnist Offers Words of Caution about ‘Pension Advance Schemes’

January 06, 2016  |   Posted by :   |   Pension Factoring   |   Comments Off on Columnist Offers Words of Caution about ‘Pension Advance Schemes’

Bangor Daily News blogger and senior citizen advice columnist Dave Riley recently wrote about pension factoring, and his well-done blog post offers a good re-cap of some developments, as well as some words of caution. Wrote Riley: CONSUMER WATCHDOGS generally urge that people steer clear of these loans.  ‘Just don’t do it,’ one said bluntly. […]

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Report: Pension Factoring Again Under Scrutiny Following Legal, Legislative Developments

October 28, 2015  |   Posted by :   |   Pension Factoring   |   Comments Off on Report: Pension Factoring Again Under Scrutiny Following Legal, Legislative Developments

Companies that are in the business of engaging in pension factoring, or pension advance, transactions are again coming under official scrutiny following developments in courtrooms and legislative forums, according to a recent news report. “Some retirees are making a terrible mistake with their pensions,” reported The Washington Post this week in a story that described the experiences […]

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Beware of Pension Advance Pitfalls, Warn Officials

July 27, 2015  |   Posted by :   |   Pension Factoring   |   Comments Off on Beware of Pension Advance Pitfalls, Warn Officials

According to the Consumer Financial Protection Bureau and various media reports, consumers should be wary of pension advances (also called pension loans and pension advance funding).  Some of the questions that officials suggest asking, before entering into such transactions, include the following: What are the costs? Does the consumer have to buy life insurance? Can the […]

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Article: Be Aware of Legal Issues, Other Pitfalls When Looking At Pension Factoring

February 11, 2015  |   Posted by :   |   Pension Factoring   |   Comments Off on Article: Be Aware of Legal Issues, Other Pitfalls When Looking At Pension Factoring

A New York Times article on pension factoring from a few weeks ago advised about “Reading the Fine Print on Pension Advance Agreements.” The article describes legislation and other legal restrictions concerning pension factoring, but also that there appears to be gray areas that can result in potential pitfalls for consumers. “Agencies like the Consumer […]

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Federal Legislation Would Address Pension Factoring

February 28, 2014  |   Posted by :   |   Pension Factoring   |   Comments Off on Federal Legislation Would Address Pension Factoring

One federal bill would revise the rules for structured settlement factoring transactions – as described here. Another, also recently introduced, would address consumer protection concerns about pension factoring. For more about the pension factoring bill, see the congress.gov page here.

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