PRESCOTT LOVERN, SR. CATCHES FEDERAL RESERVE BOARD IG COVERING UP CFPB ILLEGAL CONDUCT IN REPORT TO CONGRESS

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UPDATE: December 10, 2105

The Federal Reserve Board IG, CFPB lawyers, and General Dynamics lawyers are all hiding, refusing to address the allegations of their illegal conduct. They haven’t even tried to deny the allegations. The situation is escalating rapidly.

December 9, 2015

Prescott Lovern, Sr. (Lovern) discovered in a Report to Congress (Report), September 2, 2015, about the Consumer Financial Protection Bureau (CFPB),  the Inspector General (IG) for the Federal Reserve Board (FRB), Mark Bialek, lied to Congress about the CFPB being in compliance with “all applicable laws”. Lovern just finished an investigation into the CFPB and discovered high ranking CFPB executives / lawyers are violating, but not limited to, Dodd Frank, FTC Act, state and federal criminal statutes, and the federal False Claims Act.

In addition, General Dynamics / General Dynamics Information Technology (collectively “GD”) executives are conspiring with CFPB executives / lawyers on the same violations, and, FRB IG personnel is also involved.

The FRB IG’s office serves as the IG for the CFPB. They are all acting in concert to trample the federally protected / states’ rights of U.S. Consumers associated with the CFPB compliant process, via the CFPB Consumer Response Center, owned an operated by GD.

For the CFPB to intentionally violate Dodd Frank to protect companies they regulate, violating the rights of consumers in the process, as well as violating the intent of Congress as to the purpose of Dodd Frank is OUTRAGEOUS. Lovern said, “I’m gonna stop it. Somebody needs to go to prison.”

Lovern has filed the paperwork to establish himself as the Qui Tam – Private Attorney General under the Federal False Claims Act (FCA); and, he intends to make guilty parties pay statutory fines under the DCCPPA.

Other FRB IG personnel who worked on the Report are:

Report Contributors -

James Keegan, OIG Manager

Dave Horn, Project Lead

Victor Calderon, Senior Forensic Auditor

Bettye Latimer, Senior Auditor

Hau Clayton, Auditor

Matt Gibbons, Auditor

Dennis Wolley Jr., Audit Intern

Cynthia Gray, Senior OIG Manager for Financial Management and Internal Controls

Melissa Heist, Associate Inspector General for Audits and Evaluations

 

Stay tuned.

 

 

PRESCOTT LOVERN, SR. SAYS THAT IF PEPCO MERGER GETS APPROVED HE WILL FILE TWO LAWSUITS THAT WILL BANKRUPT PEPCO

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UPDATE April 11, 2017 – Exelon now under investigation to include securities fraud.

MARCH 1, 2016 [PEPCO MERGER UPDATE]

Pepco / Exelon merger voted down, appears dead.

December 3, 2015 – [PEPCO MERGER UPDATE]

Prescott Lovern, Sr. (Lovern) is sitting on two lawsuits, one consumer, one shareholder, both pursuant to the District Private Attorney General (PAG) statutes [PAG standing via DC Code 28-3905(k)(1)(B)]. Both lawsuits comply with Rotunda decision. Both can collect statutory damages with no proof of damage and no proof anyone was misled. The shareholder suit is exempt from SLUSA. Either lawsuit can bankrupt PEPCO.

GSA should pay more attention to what is going on because they may find themselves working by candlelight.

The legal claims that create the lawsuits have been covered-up by Exelon executives / lawyers, and of course Pepco executives and lawyers.

Neither company has provided any alleged legal authority to dispute Lovern’s claims.

PRESCOTT LOVERN, SR. SAYS REPRESENATIVE / PRIVATE ATTORNEY GENERAL WAIVERS IN ARBITRATION PROVISIONS ARE ILLEGAL

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December 3, 2015

Consumers WAKE-UP. You are being screwed by just about everybody you do business with. Banks, credit companies, retail outlets, credit card issuers, SWEEPSTAKES, online shopping websites, consumer goods manufacturers, hotels, car companies. Most all of them require arbitration in the event of a dispute, and about 98% prohibit representative / private attorney general (PAG) lawsuits and PAG arbitration [yes you can use PAG statutes to arbitrate]; and, that is illegal so sayeth the U.S. Supreme Court and federal circuit courts.

Big business is lying to you, taking advantage of you. They tried to do it to me and I stopped it in 24 hours.

Have your lawyers contact me at corporate@rlassociateslaw.com. I can only talk to your lawyer.

Major litigation in the works, and you will be shocked when you see who’s taking advantage of you.

Stay tuned.

UPDATE:

U.S. Supreme Court – DirecTV, Inc. v. Imburgia, et al., No. 14-462 (Dec. 14, 2015).

Nothing in the decision affects the viability of actions brought under California’s Private Attorney Generals Act (PAGA) as an avenue to avoid the effects of a class waiver. A PAGA claim is a type of government enforcement action where the representative employee acts as the state’s proxy. Given this “loophole,” the number of PAGA class actions probably will increase as plaintiffs’ counsel include such claims in their complaints, if for no other reason than to avoid arbitration.

PAGA lawsuits or PAG Arbitration brought under any state statutory authority cannot be barred by arbitration waivers… period.

PRESCOTT LOVERN, SR. ALLEGES “GAME TIME GOLD AT MCDONALD’S® IN-STORE GAME & SWEEPSTAKES’ IS ILLEGAL IN THE FACT THAT IT MISLEADS CONSUMERS

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NOVEMBER 20, 2015:

Prescott Lovern, Sr. (Lovern) discovered that GAME TIME GOLD at McDonald’s® IN-STORE GAME & SWEEPSTAKES, in his opinion, has a illegal arbitration clause that misleads participants. In Lovern’s opinion it is civil & criminal. The laws governing arbitration changed in 2012, post Concepcion.

McDonald’s management / officers, lawyers & directors (Mcd Mgt) have refused to correct the “Official Rules” to get into compliance. Lovern demanded that the McDonald’s audit committee, led by Enrique (Rick) Hernandez (Chair), follow Sarbanes Oxley (SOX), deal with Mcd Mgt and correct the game, but Mr. Hernandez went underground. Interestingly, Mr. Hernandez also sits on the audit committee of Wells Fargo (WF) who has the same alleged illegal language in the WF Bank customer agreements. WF’s Board is also covering this up. McDonald’s has another executive who sits on the Board of United States Gypsum who is also using similar, alleged illegal language in their arbitration provision, and they are covering up what they are doing.

One long tome McDonald’s franchisee recently had this to say about Mcd Mgt, “Never in my long McDonald’s life have I seen just about every aspect of this corporate circus so mismanaged.”

The NFL who is part of the McDonald’s Sweepstakes has also ignored the issue. It’s apparent Mcd Mgt and the NFL do not care whether consumers are treated fairly. After all the NFL charges the military to honor veterans at NFL games.

What’s next for McDonald’s? Perhaps slumping sales are just Karma.

Stay tuned.

RITE AID SHAREHOLDERS BEWARE: PRESCOTT LOVERN, SR. WILL EXPOSE ALLEGATIONS OF FRAUD CONNECTED TO WALGREEN’S / RITE AID MERGER

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UPDATE: November 20, 2015

Prescott Lovern, Sr. now has documented evidence Rite Aid’s legal department is aiding and abetting Walgreen’s illegal conduct connected to the merger. Rite Aid management is trying to hide the fact Walgreen’s is facing potential bankruptcy based on illegal terms & conditions with their customers that can result in statutory fines far greater than their total assets.

NOVEMBER 5, 2015

Prescott Lovern, Sr. (Lovern) has standing in the nationwide contaminated moist wipes matter that developed summer of 2014 that includes Walgreen’s. Lovern has the legal right to file a private attorney general (PAG) lawsuit that can cost Walgreen’s billions, regardless of pending class actions and their outcome that he is not involved in.

More important, it is Lovern’s opinion that Walgreen’s has committed massive securities / wire fraud in the last year based on evidence in his possession, including SEC filings connected to the Rite Aid merger.

When Lovern confronted Rite Aid they immediately retained Pepper Hamilton law firm, however, Rite Aid, nor its executives or lawyers, have done anything required of Rite Aid legally to protect Rite Aid shareholders. Walgreen’s executives / lawyers have completely ignored all of this.

It’s Lovern’s opinion that both companies seem to think they are immune from any PAG shareholder lawsuit in state court based on state law because of Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, 547 U.S. 71 (2006) & SLUSA, but, Lovern claims PAG lawsuits are not prohibited by SLUSA based on several U.S. Supreme  Court opinions post Dabit that deal with class action, PAG actions, and SLUSA; plus, the legislative intent of SLUSA. It’s Lovern’s opinion that his evidence can bankrupt Walgreen’s pre or post merger with one PAG shareholder lawsuit that carries statutory fines, yet no proof of damage, no certification of class, and no proof anyone was misled requirements.

RITE AID executives are trying to protect their “GOLDEN PARACHUTES.”

RITE AID SHAREHOLDERS BEWARE – WALGREEN’S SHAREHOLDERS WAKE-UP.

 

PRESCOTT LOVERN, SR. CATCHES FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL (FFIEC) LEADING STATE CHARTERED BANKS TO LEGAL SLAUGHTER / BANKRUPTCY

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AUGUST 4, 2015 (Updated August 5, 2015)

Prescott Lovern, Sr. completes multi-year investigation into banks collection of social security numbers in conjunction with Bank Secrecy Act data collection from bank customers. The FFIEC is made up of all federal bank regulators (Feds) and they treat state bank regulators like second class citizens, using them to help facilitate criminal activity the Feds want to carry out. Unfortunately, the state banks have no legal recourse due to the slick manner in which it has been carried out.

The Feds have used the state banks to violate the federal statutory and constitutional rights of U.S. Citizens in a conspiracy concocted by the U.S. Treasury, agreed to by other District of Columbia parties. This activity includes both civil violations and serious felonies committed by the banks. The state chartered banks were used to facilitate the national banks’ / regulators’ criminal enterprise. Based on published reports it appears over 100 million felonies have been committed.

Thanks to the covert, diabolical scheme run by the Feds, now every state chartered bank is facing bankruptcy, if named in the right lawsuit. Do the Feds care? No, but understand Lovern is going to hold the Feds accountable, along with the major national banks who knowingly and willingly aided and abetted the illegal activity.

Stay tuned.

PRESCOTT LOVERN, SR. CATCHES KOHL’S, DILLARD’S INC. AND DSW INC. AIDING AND ABETTING CRIMINAL THEFT AND WILLINGLY PARTICIPATING IN FEDERAL RACKETEERING

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JULY 5, 2015        [Consumer Alert]

Prescott Lovern, Sr. (Lovern) contacted Kohl’s Department Store, DSW [Shoes], and Dillard’s (collectively three companies hereinafter referred to as “Stores”) fraud departments last week with one of his employees, whose bank issued VISA Check Card was used to illegally make purchases on each company’s website.

The Check Card data had been stolen and someone used it to purchase merchandise from the Stores to be delivered in Miami. Each store confirmed the victim did not make the purchases. Even though the Stores’ fraud departments refused to provide the delivery address, Lovern and his investigators believe the merchandise is headed to a freight forwarder, after the victim was able to discover from customer service at Dillard’s and Kohl’s that those purchases were being delivered in Miami before they transferred the call[s] to their respective fraud departments. The victim cannot give the Miami police an address to try and intercept the deliver[ies] because the Stores are protecting the thieves.

DSW was told about the other two purchases at Kohl’s and Dillard’s and they admitted to knowing that the delivery address was known to them to be an address used in fraudulent activity [Lovern believes the DSW delivery address is the same address in Miami], yet they did not call the police, contact the victim’s bank, or try and contact the victim; plus they refused to provide the victim the delivery address. DSW did cancel the purchase after receiving our call; however, they violated the victim’s legal rights, and aided and abetted the thieves. Concealing the delivery address, email address [ISP] used by the thieves, and ISP address used for the purchase, they committed overt acts in furtherance of RICO.

Each Store refused to give the victim any information about the transaction (i.e. delivery address, delivery company, ISP address used to make purchase, email & phone number in transaction data). The Stores knew the victim did not make the purchases, yet, they did not offer to contact her bank, the police, or help her aid the police in catching the thieves. Instead they protected the thieves. Especially considering the Stores’ are public stock companies their conduct was unconscionable, as well as illegal.

Because it was cash taken from the victim’s bank account instead of credit line [credit card] this is criminal theft, and because the cash crossed the state line along with the merchandise, it triggers federal racketeering under RICO. The Stores willingly participated, committing overt acts in furtherance of the thieves conspiracy. This could be part of an international theft ring, but the Stores do not care. They will collect from their insurance company, which raises even more red flags.

Lovern has taken an assignment of legal claims from the victim and intends on filing a lawsuit against the Stores et al for their illegal, unconscionable conduct. Lovern will name DSW, Inc. and their CEO, Michael R. MacDonald; KOHL’s and their CEO, Kevin Mansell; and, DILLARD’S, Inc. and their CEO, William T. Dillard II. Because the respective CEO’s sanctioned each company’s fraud policy they should be prosecuted. The victim is exploring the potential of filing criminal charges against them.

Stay tuned.

 

PRESCOTT LOVERN, SR. CATCHES FTC COVERING UP VIOLATIONS OF 20 YEAR SETTLEMENT ORDER BETWEEN FTC AND MICROSOFT

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April 7, 2015

Prescott Lovern, Sr. has caught the FTC intentionally covering up serious violations of an FTC Order entered into between Microsoft & the FTC that began in 2002, and ends in 2022. In addition, Microsoft is committing new violations of the FTC Act and Truth-in-Advertising.

None of the current FTC Commissioners were on the original Order; yet, for some unknown reason the FTC is allowing Microsoft to violate the rights of consumers nationwide.

Microsoft’s violations will negatively impact the Staples / Office Depot merger because Staples & Office Depot are conspiring with Microsoft to violate the FTC Order, as well as violating additional state and federal laws.

Stay tuned.

PRESCOTT LOVERN, SR. DISCOVERS EXELON SHAREHOLDERS BEING DEFRAUDED WITH PEPCO MERGER – FEDERAL & STATE OFFICIALS PARTICIPATING

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FEBRUARY 24, 2015

Prescott Lovern, Sr. (Lovern) has confirmed that EXELON Shareholders have been intentionally, and illegally, kept in the dark about HUNDREDS OF BILLIONS of DOLLARS in statutory liability PEPCO has connected to “Customer Deposits,” going back many years. PEPCO HOLDINGS, INC. has hundreds of billions $$$$$ in statutory, undisclosed liability that will bankrupt PEPCO & EXELON. High ranking District of Columbia (D.C.) officials, including inside the D.C. Public Service Commission (PSC), Mayor’s Office and Attorney General’s Office, are intentionally covering-up the illegal conduct because District Officials have been participating in federal felonies, based on precedent U.S. Supreme Court opinions. Lovern gave PSC lawyers the opportunity to dispute the allegations with binding case law but they could NOT, and they refused to put in writing that Lovern is wrong.

The Federal Energy Regulatory Commission (FERC) is also covering up the illegal conduct throughout PEPCO’s service areas, along with all other PEPCO state regulators who are also participating in the federal felonies. FERC and the D.C. – PSC have both approved the merger.

EXELON Shareholders have no idea their Directors have approved a deal that is equivalent to monetary, shareholder equity suicide, as PEPCO’s statutory liability [fines] will bankrupt PEPCO & EXELON. Executives and lawyers at EXELON are also covering-up this massive criminal enterprise that includes federal racketeering because EXELON’s ComED & BGE are engaged in the same illegal conduct.

Stay tuned.

PRESCOTT LOVERN, SR. SAYS GOVERNOR CHRISTIE DIDN’T LEARN ANYTHING FROM “BRIDGEGATE”

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FEBRUARY 6, 2015

Prescott Lovern, Sr. (Lovern) contacted Governor Christie’s general counsel, Christopher S. Porrino, and left detailed information as to how the New Jersey (NJ) Board of Public Utilities (BPU) is participating in federal felonies [18 U.S.C. § 242], associated with energy deposits being charged to NJ consumers, in Lovern’s opinion – based on U.S. Supreme Court precedent. Lovern was assured by the Governor’s secretary Mr. Porrino  would call Lovern back as soon as he came out of a meeting with the Governor. Instead, what happened was Lovern was called by an unqualified person in constituent services, and Lovern is not even a constituent.

This type of trickle down governing in an attempt to create plausible deniability is exactly how the good Governor almost ruined his career with “Bridgegate.” Governor Christie is a most likable politician who is now preparing to run for president. If he is going to continue to try and hide behind staff on important issues, his ability to lead as president is seriously called into question.

Governor Christie is responsible for oversight of the BPU. The Commissioners have sanctioned unconstitutional practices by energy companies not even supported in the New Jersey Administrative Code that violate due process and equal protection protections of NJ consumers, associated with calculation methods of deposits. The Governor and his lawyers were told this, yet they ignored it. Ignoring what appears to be federal felonies is not a good thing.

This makes Bridgegate look like kindergarten.

Stay tuned.