PRESCOTT LOVERN, SR. CATCHES CONSUMER FINANCIAL PROTECTION BUREAU (CFPB) ET AL INTENTIONALLY DAMAGING CONSUMERS

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APRIL 21, 2017

PRESCOTT LOVERN, SR. CATCHES CONSUMER FINANCIAL PROTECTION BUREAU (CFPB), OFFICE OF THE COMPTROLLER OF THE CURRENCY (OCC), FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC), FEDERAL RESERVE BOARD (FRB), AND FEDERAL TRADE COMMISSION (FTC) (CFPB, OCC, FDIC, FRB & FTC collectively “Banking Regulators”), SCAMMING CONSUMERS AGAIN TO PROTECT BANKS, INJURING CONSUMERS. ONCE AGAIN, UNDER TRUTH-IN-LENDING (TILA), ILLEGALLY AMENDING THE CREDIT CARD ACCOUNTABILITY RESPONSIBILITY AND DISCLOSURE ACT OF 2009 (Credit Card Act), CIRCUMVENTING CONGRESS AND THE FEDERAL STATUTE DESIGNED TO MAKE CREDIT CARD AGREEMENTS READILY AVAILABLE AND TRANSPARENT.

SEC. 204. [15 U.S. Code § 1632(d)(1)] of the Credit Card Act – INTERNET POSTING OF CREDIT CARD AGREEMENTS:

(a) IN GENERAL. — Section 122 of the Truth and Lending Act (15 U.S.C. 1632) is amended by adding at the end the following new subsection:

‘‘(d) ADDITIONAL ELECTRONIC DISCLOSURES. —

‘‘(1) POSTING AGREEMENTS. — Each creditor shall establish and maintain an Internet site on which the creditor shall post the written agreement between the creditor and the consumer for each credit card account under an open-end consumer credit plan” [underline added]. This does not mean a sample contract, but the actual card agreement between the issuer and the cardholder. The key words being “each credit card account”.

15 U.S. Code § 1632(d)(5) says “The Board, in consultation with the other Federal banking agencies [Definition - 12 U.S. Code § 1813(q)] and the Federal Trade Commission, may promulgate regulations to implement this subsection, including specifying the format for posting the agreements on the Internet sites of creditors and establishing exceptions to paragraphs (1) and (2), in any case in which the administrative burden outweighs the benefit of increased transparency, such as where a credit card plan has a de minimis number of consumer account holders.” [underline added for emphasis].

The Banking Regulators, ultra vires [without legal authority], illegally changed the legislative intent of (d)(1) by passing a Regulation in 12 CFR that allows credit card issuers to only post online sample credit card agreements that do not tell the cardholder the terms, fees and conditions of the cardholder’s actual card agreement (Agreement), as Congress intended. There is nothing burdensome for the issuer to have a website that has “each” of its Cardholder’s Agreements available online, as the issuers already have “each” Agreement in electronic form.

When the cardholder has to request their Agreement the issuer [e.g. Discover & Wells Fargo] has 30 days to mail it and this is a huge problem for these reasons. This allows the issuer to change, or make the terms, fees and conditions, anything they want, circumventing 15 U.S.C. § 1637(i)(4) and Regulation Z, which means the cardholder gets no Notice for any changes because it appears the mailed Agreement is the original Agreement [not subject to the 45 day Notice], and those unknown changes can support illegal fees & charges existing on the card. Companies like Wells Fargo & Discover who have a history of stealing money from their customers can use this lack of transparency scheme (Online Posting Scam) to rob their customers without fear of being caught, or so they thought.

Credit Card Act regulations require Card issuers to send the appropriate Bank Regulators the sample card agreement, which compromises the intent of transparency under the Credit Card Act. This is a premeditated scheme similar to bait & switch that thrives on the issuer’s ability to change the Agreement at any time. The cardholder is subject to theft any time, on any given day. 

Consistent with the language of 15 U.S.C. § 1637(i)(4) and Regulation Z, the legislative history of the  Credit Card Act makes clear that the purpose of the 45-day notice requirement is to provide the cardholder the opportunity to cancel his or her account before the significant change is to take effect. Indeed, a May 4, 2009 report from the Senate Committee on Banking, Housing, and Urban Affairs specified that a purpose of the Act was to “require[] issuers to provide 45 days advance notice of interest rate increases, and grant[] cardholders the right to cancel the card and pay it off under the old terms.” S. Rep. 111-16, at 7 (2009). Issuers can change the interest rate at any time using cardholder’s credit as justification. 

The Online Posting Scam is anything but increased transparency for the cardholder, as Congress intended in the Credit Card Act, and, the Regulation in question violates 15 U.S. Code § 1632(d)(1) regarding posting online, and its legislative intent.

Certain credit card issuers and Banking Regulators are complicit in, but not limited to, “cramming,” grand larceny, federal felonies, violations of TILA, RICO, etc. This not the first time Richard Cordray [CFPB] has been caught illegally re-writing a federal statute.

Millions of Consumers are being financially raped.

Stay tuned.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prescott Lovern, Sr. Catches U.S. Department of Education Intentionally Violating the Constitutional / Federally Protected Rights of U.S. Citizens In Conjunction with Pell Grants; Universities & Colleges Complicit

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APRIL 11, 2017

Prescott Lovern, Sr. says the U.S. Department of Education (DOEd), Universities & Colleges who issue Pell Grants, have been caught lying to high school graduate Non-Dependent Students who want to, and/or have applied for Pell Grants, in violation of non-ambiguous federal statutes.

In addition, the guilty parties have been extorting financial information of parents & guardians who do not provide half of the non-dependent student’s support.

Secretary DeVos was informed of this by Lovern, given an opportunity to stop the illegal conduct, but she refused.

Lovern says it could be a mountain of federal felonies under 18 U.S. CODE § 242.

Stay tuned.

INSURANCE DEBT REDUCTION / MARYLAND MVA – IT IS A SCAM

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MARCH 13, 2017

Prescott Lovern. Sr. says that Maryland’s new Insurance Debt Reduction Program (IDRP) is scamming Maryland (MD) residents.

It all starts with alleged insurance lapse fines assessed without a hearing [full due process required]. The U.S. Supreme Court ruled years ago that states cannot take away your driver’s license or registration without “full” due process. That is exactly what MVA does. They offer you a hearing “after the fact.” The illegal fines grow monthly.

What MVA didn’t tell you in their deceptive IDRP is that MD has a law that prevents any creditor from reviving the statute of limitations that have expired [3 years, no lawsuit, no judgment]: “Notwithstanding any other provision of law, on the expiration of the statute of limitations applicable to the consumer debt collection action, any subsequent payment toward, written or oral affirmation of, or any other activity on the debt may not revive or extend the limitations period.” MD Courts and Judicial Proceedings §5–1202. This is why they are now trying to get you to pay 80% when you owe nothing if it has been more than 3 years.

Taking away your right to drive for alleged fines resulting from alleged insurance lapses without a hearing violates, but not limited to, the 14th Amendment to the U.S. Constitution; and, it’s Mr. Lovern’s opinion, it violates 18 U.S.C., Sec. 242 [federal felony].

MVA goes further by telling you under the IDRP that if you sign up and violate one aspect of the program you will owe the full original amount. LIE! If the statute of limitations ran out on your alleged debt they can’t legally collect a dime. What they are doing is offering to let you drive legally again when in fact they illegally suspended your driving privileges to begin with.

Their IDRP also violates the The Fair Debt Collection Practices Act (FDCPA) and state laws. The entire insurance lapse practice at MVA is nothing but a scam, and the Department of Budget and Management’s Central Collection Unit (CCU) is nothing but a criminal enterprise.

Stay tuned.

WELLS FARGO (WF) FAKE ACCOUNTS & FAKE ARBITRATION – WF ARBITRATION AGREEMENT ILLEGAL

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MARCH 10, 2017

Wells Fargo’s (WF) latest attempt to hide behind their illegal arbitration agreement, trying to avoid liability for “fake accounts” is nothing but another piece of their criminal enterprise.

What makes WF’s arbitration agreement illegal is the forced waiver of Private Attorney General (PAG) litigation and PAG Arbitration. The high courts have ruled that you cannot make a person waive their right to PAG litigation and PAG Arbitration, unlike class action. WF has known this for some time, yet they continue to lie to their customers about PAG.

Plaintiff lawyers should scrap their fake account class action lawsuits and go after WF under PAG, which in the right jurisdiction does not require proof of damage, proof anyone was misled, strict liability, and it’s extraterritorial.

WF should be shut down and their executives and lawyers should be prosecuted. C. Allen Parker, WF’s new general counsel, has no idea what he is walking into. Fake Accounts are just the tip of the iceberg.

Stay tuned.

 

EXELON CORPORATION CAUGHT COVERING UP CATASTROPHIC SECURITIES FRAUD

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UPDATE: March 17, 2017

Prescott Lovern, Sr. is waiting for the new SEC Chairman to get into place before starting the Exelon securities legal matters.

UPDATE: February 21, 2017

Exelon’s current 10 K filed on or about February 13, 2017, is in violation of federal & state securities laws. Exelon continues to manipulate the market.

January 19, 2017

Prescott Lovern, Sr. (Lovern) has confirmed through an extensive investigation that senior executives / lawyers at Exelon Corporation (EC) have intentionally filed EC’s last three 10 Qs in violation of federal & state securities laws. The violations go back to issues during the merger with PEPCO Holdings, Inc., to include post-merger completion.

EC directors have knowingly aided and abetted the illegal acts that have created massive strict liability that very few investors understand, but with upcoming disclosures by Lovern could result in a massive sell off of EC shares. The upcoming litigation has the potential to bankrupt EC.

EC is raising customer rates throughout their utility service footprint and one has to wonder if they are stockpiling cash to prepare for the litigation. This is a dangerous legal conundrum for all of EC’s regulators who could get sucked into the illegal scheme.

Investors beware, this could be another Cendant Corporation.

Stay tuned.

PRESCOTT LOVERN, SR. PURSUING LEGAL ACTION AGAINST FLORIDA SUGAR GROWERS, FEDERAL REGULATORS, FLORIDA STATE OFFICIALS, LOCAL OFFICIALS, AND SUGAR LOBBYISTS FOR THE ECOLOGICAL AND ECONOMIC CALAMITY OF SOUTH FLORIDA’S POLLUTED CLEAN WATER AND COASTAL POLLUTION

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FLORIDA SUGAR INDUSTRY GETTING ILLEGAL SWEET DEAL

DECEMBER 20, 2016

Lake Okeechobee’s (Lake) fertilizer-infused fresh water poisons the drinking water the Lake supplies, turns the ocean dark brown, spreads toxic slime to both coasts, and destroys property values, recreation, and tourism. This calamity is man-made, confirmed by the evidence and reported on below.

“The cane fields sit on 450,000 acres of reclaimed wetlands just below Lake Okeechobee in south-central Florida. The area is home to about 40,000 people and an economy based on farming. By contrast, some 6 million people live in the coastal zone affected by the algae – a region fueled by a great diversity of commercial activity, but especially tourism.

The economic boon of the smaller community has become the bane of the larger one. In future decades, rising temperatures and shifting rain patterns likely will worsen the plague of toxic algae.

This battle is seen by some as a test of the integrity of America’s political system, of just how freely the tools of political influence – campaign contributions, lobbying fees and the blandishments and acts of ingratiation that often come with them – can be leveraged to put the full benefit of nature’s bounty in a few hands while spreading the costs, including pollution and despoliation, across the rest of society. Because only a fraction of the sugar cane fields is being sought to solve the algae problem, some see it as a test of whether special interests can use these perfectly legal tools of modern American democracy to run roughshod over the broader public interest.

 At the hub of the dispute is Lake Okeechobee – one of the nation’s largest lakes, the wellspring of the Everglades and the freshwater heart of South Florida.

 For 6,000 years, excess groundwater has spilled over the southern rim of the lake, nourishing the Everglades before draining into the Florida Bay. To make way for the cane fields, engineers raised and fortified the lake’s southern shore, funneling all that excess groundwater through an array of canals, levees and pumping stations into two rivers that then dump it into the sea along Florida’s east and west coasts.

 This cleared the way for the cane fields, but choked off water to the rest of the Everglades. It also infected the two rivers and South Florida’s coastlines with toxic algae.

 Even more fearsome – it created a ticking time bomb in the form of a seeping dike that, should the right storm come along, could lay waste to everything and everybody in its path.” Toxic Lake: The Untold Story of Lake Okeechobee By Marcus Stern, Kait Parker, Spencer Wilking Published Dec 8 2016 12:51 PM EST weather.com.

It is well known that the creation of the Everglades Agricultural Area, where the sugar cane is grown, is the entire reason the water was diverted from Mother Nature’s natural course, and the main source of opposition to redirecting its natural flow today. This is resulting in the economic destruction of South Florida, inclusive of clean drinking water.

Stay Tuned.

 

 

 

 

 

PRESCOTT LOVERN, SR. CONFIRMS LYNDA.COM / LINKEDIN STEALING CONSUMERS’ MONEY – DISCOVER CARD WILLING PARTICIPANT, MICROSOFT TURNS BLIND EYE DUE TO PENDING PURCHASE OF LINKEDIN

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December 14, 2016

Prescott Lovern, Sr. (Lovern) has completed an investigation into Lynda.com, owned by LinkedIn  (Lynda.com and LinkedIn collectively “LC”), and a premeditated scheme (scam) to steal money from consumers who used, considered using, or signed up for a free trial for LC services; and, Lovern has confirmed that Discover Card / Discover Financial Services (DFS) is helping LC.

LinkedIn owns Lynda.com and one way the scam works is that when LinkedIn acquired Lynda.com LC encouraged LinkedIn members to sign up for Lynda.com courses to spruce up the member’s resume. Lots of members discovered it didn’t help with potential employers so they canceled their participation, BUT, Lynda.com keeps on billing, and in the matter of Discover Card (DC) they just ignore their DC customers request for reimbursement of unauthorized charges.

Executives and lawyers at LC and DFS are covering this up, but not for long as Lovern is preparing for massive litigation and potential criminal charges.

Lawyers at Microsoft are looking the other way claiming they can’t do anything [not true] about it even though Microsoft is purchasing LinkedIn.

A few examples -

Lynda.com horrible billing practices – Nov 15  Lynda  Education  111

I noticed that I was being charged by lynda.com after canceling my services months earlier. I don’t remember signing up again, but it is possible. After finding no way to cancel services on their website, I wrote a message clearly stating that I wanted to cancel. I received a confirmation of receipt of my message and thought that I was done. They continued to bill me for several more months without me noticing.

Lynda – Horrible - Oct 17  Lynda   Education  Lindenhurst, New York  Lynda Account   112

Unresponsive but very willing to take money from your credit card. I literally had to resort to CLOSING my credit card so that they could STOP. Then after waiting forever, I finally got hold of someone and they told me a refund was not possible even though I had not USED the service nor logged into that account in months. I told them I was interested in being a member for another 12 months AFTER all the traveling I was doing.

Lynda – These *** Thieves Oct 12  Lynda   Education  Seoul, Seoul  1   88

I never even signed up for this *** and they took money from my account! They should be sued and I think I’ll go through the motions of making this happen. I’m not sure if anyone is actually even working at the sight. I have made as many calls and inquiries about this place and found very little in the way of them showing that they are remotely concerned about how they change people’s accounts or whether they are taking money from people.

Stay tuned.

(MERGER FRAUD) KONINKLIJKE AHOLD N.V. / AHOLD USA (AHOLD) DEFRAUDING DELHAIZE GROUP NV/SA SHAREHOLDERS VIA COVER-UP OF AHOLD CATASTROPHIC, UNDISCLOSED LIABILITY

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June 15, 2016

Prescott Lovern, Sr. (Lovern), President of R&L Associates Law, says Koninklijke Ahold N.V. also known as Royal Ahold (“Ahold”) / Ahold USA are intentionally covering-up catastrophic Ahold liability connected to Fairlife Milk that said liability has in excess of $300 Billion [US] in strict liability [statutory fines, no proof of damage requirement] facing Ahold in upcoming litigation in Washington, D.C. (District). Ahold knows all about this. This undisclosed liability is intentionally being hidden from the Delhaize Group NV/SA (“Delhaize”) shareholders via Ahold’s Merger Prospectus. Delhaize stock is sold on the NYSE.

Lovern will be filing the law enforcement lawsuit as Proxy [Private Attorney General) for the District Attorney General pursuant to DC Code 28-3905(k)(1)(A)(B) & (2).

AFM [Netherlands Authority for the Financial Markets] so far has ignored Lovern’s attempts to get them to deal with Ahold’s fraudulent, unamended, Prospectus. If AFM does not do their job Lovern will bring AFM Board Members to court as co-conspirators.

Delhaize lawyers and executives [Golden Parachutes] are also covering this up, as is Coca-Cola who markets Fairlife Milk as a joint venture partner. They will be dealt with also.

Shareholders in Ahold and Delhaize are being defrauded as both companies have been selling the Fairlife Milk in the USA. Delhaize and Coca-Cola can be bankrupted just like Ahold.

Stay tuned.

 

AETNA, INC. DEFRAUDS HUMANA SHAREHOLDERS IN MERGER TAKEOVER, UNKNOWN TO HUMANA SHAREHOLDERS; ANTHEM, INC. DEFRAUDS CIGNA SHAREHOLDERS IN MERGER TAKEOVER, UNKNOWN TO CIGNA SHAREHOLDERS; INVESTORS DO NOT BUY DEBT FINANCING SECURITIES IN EITHER DEAL

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MARCH 16, 2016

Prescott Lovern, Sr. (Lovern) has caught Aetna, Inc. (Aetna) and Anthem, Inc. (Anthem) intentionally hiding catastrophic liability that can bankrupt each respective company, part and parcel to a criminal / civil conspiracy (Conspiracy) with the IRS, which has severely damaged millions of U.S. Consumers. There have been millions of federal felonies committed, now being covered up by Aetna, Humana, Inc. (Humana), Anthem, Cigna Corporation (Cigna), IRS and Social Security Administration (SSA). The Conspiracy has hundreds of billions of dollars in strict liability, with no proof of damage requirement, and no proof anyone was misled requirement.

The Conspiracy is centered around social security numbers (SSNs). The worst collateral damage from the Conspiracy is the Anthem data hack. Millions of SSNs stolen. Many SSNs Anthem obtained through fraud, which led to them being stolen in the hack.  

Aetna has arranged reportedly over $16 Billion in debt financing to acquire Humana through Citigroup Capital Markets (Citi) and UBS Securities (UBS), which Citi & UBS intend to securitise and sell to unsuspecting investors. Lovern told both creditors about the securities fraud associated with the merger, but Citi & UBS simply hung-up on him. All they want are the profits from defrauding innocent investors.

Anthem has arranged reportedly over $26 Billion in debt financing that Bank of America Corp., Credit Suisse Group AG and UBS Group AG intend to securitise and sell to unsuspecting investors. Lovern told these creditors all about the securities fraud associated with the Anthem merger, but once again no interest. All they want are the profits from defrauding innocent investors. Shareholder equity in the creditor companies is now at risk.

Aetna, Humana, Anthem & Cigna have all lawyered up with major defense firms. In-house corporate lawyers don’t retain expensive defense firms if they are innocent.

The IRS is simply hiding under a rock. One honest IRS lawyer involved with the 1095 IRS Forms that are illegal, admitted that I am right about the law governing the SSNs. The IRS enforces the Affordable Care Act (ACA). The ACA started all this and the current administration’s desire to create a current national data base on U.S. Citizens; hence, the scam involving SSNs.

Lovern confronted OMB about the illegal IRS 1095 Forms and they ran like a scalded dog. The IRS 1095 Forms result in multiple felonies every time a SSN is collected using the Form[s]. The federal courts have ruled that when a third party collects a SSN on behalf of the government, that third party is subject to the same laws as the government. The average citizen has no idea their legal rights are being trampled, the same when the health insurance companies lie to them.

The most egregious thing about the Conspiracy is how Obama officials in high ranking positions have no trouble participating and covering-up millions of federal felonies. Lovern reported the felonies to no avail. Nothing has changed. What will change is when Lovern bankrupts the healthcare companies and we get a Republican President next January.

WAKE-UP SEC !!!!!!!! Aetna, Humana, Anthem & Cigna have all committed securities fraud with their SEC filings connected to their respective mergers, and, certain Qs & Ks included.

Stay tuned.

KURT J. HILZINGER COVERING-UP FRAUD COMMITTED BY AETNA AGAINST HUMANA SHAREHOLDERS

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MARCH 16, 2016

Kurt J. Hilzinger was initially elected to the Humana, Inc. (Humana) Board in July 2003, and was elected as Chairman of the Board effective January 1, 2014 as an Independent Director. Mr. Hilzinger served as Lead Director on Humana’s Board of Directors from August 2010 until his appointment as Chairman.

Mr. Hilzinger is a Partner at Court Square Capital Partners, LP, an independent private equity firm, having held this position since November 2007. Prior to that, he was a Director of AmerisourceBergen Corporation from March 2004 to November 2007; having previously served as President and Chief Operating Officer of AmerisourceBergen Corporation from October 2002 to November 2007, and as Executive Vice President and Chief Operating Officer from August 2001 to October 2002. Mr. Hilzinger is also a director of Oncobiologics, Inc.

Prescott Lovern, Sr. (Lovern), president R&L Associates Law, says Aetna, Inc. (Aetna) intentionally failed to disclose, as required by law, to Humana Shareholders, catastrophic liability facing Aetna that can bankrupt Aetna many times over. Aetna’s potential liability [hundreds of billions of dollars is strict liability (no proof of damage requirement)], which they cannot guarantee will not materialize, and, would definitely have resulted in a “NO” vote to the merger, if the Humana Shareholders knew about it. They do not and Mr. Hilzinger is aiding & abetting the cover-up.

Humana is also participating in the Aetna criminal / civil conspiracy that includes Anthem, Inc. (Anthem), Cigna Corporation (Cigna), IRS, and Social Security Administration. It’s Lovern’s opinion Mr. Hilzinger is trying to protect Humana executive “Golden Parachutes.” Humana’s CEO is expecting $40.2 million as part of the merger.

Lovern says Mr. Hilzinger’s actions are also in violation of Sarbanes Oxley as he should have instructed the audit committee to retain outside counsel to investigate Humana management’s illegal activity. Lovern reached out to Mr. Hilzinger. Lovern says, “knowing Hilzinger’s corporate influence in various capacities is scary after seeing him cover-up millions of federal felonies. Hilzinger violated 18 U.S.C. Sec. 4 [federal felony] in his intentional cover-up of Aetna & Humana federal felonies connected to social security numbers.”

Maybe if Mr. Hilzinger gets prosecuted he’ll change his errant ways.

Stay tuned.