Consumer Protection Working Group launched to Combat Consumer Fraud
The Consumer Protection
Working Group, formed under President Barack Obama’s Financial Fraud
Enforcement Task Force (FFETF), recently convened its first meeting to address
consumer fraud, which can financially cripple households and can cause
extensive losses to the economy.
The newly created group
will work across federal law enforcement and regulatory agencies, and with
state and local partners, to strengthen efforts to address consumer-related
fraud, including schemes targeting vulnerable populations, such as the
unemployed, those in need of payday loans, and those suffering from the burden
of high credit card and other debt. The new working group will also focus on scams
that exploit prospective students, active-duty military personnel and
veterans.
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