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Tag: “pension factoring” “pension advance” “pension loan”

Minnesota Attorney General – Like CFPB – Sues Pension Advance Company

Minnesota Attorney General – Like CFPB – Sues Pension Advance Company

The Minnesota Attorney General has followed the lead of the Consumer Financial Protection Bureau and filed suit against a pension advance company, alleging that the company violated state lending laws, took unfair advantage in other ways, when it had veterans and senior citizens sign their pension rights to the company in exchange for immediate, but highly-discounted, cash payments. The Minnesota AG has sued Future Income Payments, LLC, which is the same company that is being sued by the CFPB over alleged…

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One Story Of The Real Life Impact Of A Pension Factoring Deal

One Story Of The Real Life Impact Of A Pension Factoring Deal

Pension factoring deals – also sometimes called pension loans or pension advances – have garnered attention from the SEC, FINRA, state attorney generals and other officials this year.  Many publications have also run stories about these types of transactions, such as those described in previous posts here and here. But missing from some of the stories is the real life impact on individuals whose lives have been impacted by pension factoring deals. The Center for Public Integrity, nearly two years…

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