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GAO Testimony: Pension Advance Transactions -- Questionable Business Practices and the Federal Response
U.S. Government Accountability Office [GAO]Link to more items from this source
Oct. 1, 2015
23 pages. "This testimony summarizes GAO's June 2014 report and actions taken by [the Bureau of Consumer Financial Protection (CFPB)] and FTC in response to GAO's recommendations. In June 2014, GAO identified 38 pension advance companies and related marketing practices. GAO conducted a detailed nongeneralizable assessment of 19 of these companies.... GAO recommended that CFPB and FTC review the pension advance practices identified in that report and exercise oversight or enforcement as appropriate. GAO also recommended that CFPB coordinate with relevant agencies to increase consumer education about pension advances." [GAO-15-845T, Sept. 30, 2015]

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