2015 Press Releases
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Attorney General Jepsen Leads Multistate Coalition in $1.375 Billion State-Federal Settlement with Standard & Poor's
Attorney General George Jepsen announced today that Connecticut, the U.S. Department of Justice, 18 states and the District of Columbia have reached a settlement agreement with Standard & Poor's Financial Services LLC resolving allegations that S&P mislead investors when it rated structured finance securities in the lead-up to the 2008 financial crisis.
Avoid Companies Offering Student Loan Debt Relief for a Fee
The Department of Consumer Protection, the Department of Banking, and the Office of the Attorney General are warning residents with student loan debt to avoid companies that promise to provide student loan debt relief, but for a fee. Student loan debt is an increasing financial hardship for Connecticut residents. Some unscrupulous companies take advantage of borrowers who are trying to manage or lessen their debt, often charging high up-front fees and not offering any services beyond what borrowers can get at no cost by contacting their loan servicers or the U.S. Department of Education.
Attorney General, DCP Remind Residents that Price Gouging on Consumer Items, Energy Resources Prohibited
Attorney General George Jepsen and state Department of Consumer Protection Commissioner Jonathan Harris are reminding residents and retailers that state law prohibits price gouging on consumer items and energy resources during the current civil preparedness emergency in Connecticut.
Don’t Pay for Financial Aid Forms or Information, State Officials Advise
The Department of Consumer Protection, Department of Banking and the Office of the Attorney General are warning high school seniors and college students applying for college financial aid to steer clear of companies charging fees for financial aid forms. These services, which falsely imply that they will improve an applicant’s chances of success, often end up charging students as much as $1,000 for materials that are available at no cost.
AG, OCC, Legislators Welcome PURA Draft Decision on Electric Bill Disclosures, Ban on Daily and Weekly Variable Rates
Attorney General George Jepsen and Consumer Counsel Elin Swanson Katz today filed formal comments supporting a draft decision issued by the state Public Utilities Regulatory Authority (PURA) last week that will ensure new, comparative rate information is clearly disclosed on electric customers' monthly bills. The requirements stem from legislation passed last year that required the disclosures after thousands of Connecticut residents who purchased electricity from third-party suppliers complained of skyrocketing bills.