Fighting Financial Fraud
America's Financial Recovery: Protecting Consumers as We Rebuild
Crimes related to foreclosure
, phony work-at-home
offers, debt relief
, identity theft
and mortgage fraud
hurt not only consumers, but also legitimate businesses. As our country rebuilds from a severe economic downturn, no one wins when working Americans are victimized by criminals and unfair financial practices.
During his one-year term as president of the National Association of Attorneys General, Attorney General Roy Cooper chose to focus on fighting financial fraud.
Cooper set up a working group of attorneys general and key staff from North Carolina, Washington, Illinois, Iowa and Indiana to establish a partnership with the newly-created Consumer Financial Protection Bureau. The group issued a summary of the Wall Street Reform and Consumer Protection Act (P.L. 111 – 203) which expands the legal tools available to Attorneys General for fighing fraud.
Joint Statement of Principles on Consumer Financial Protection
Summary of the Wall Street Reform and Consumer Protection Act
Presidentital Initiatve Summit
As part of his presidential initiative, Cooper hosted a summit April 11-12, 2011 in Charlotte. More than 200 people attended, including Attorneys General, Professor Elizabeth Warren, Bank of America CEO Brian Moynihan, and representatives from the financial industry, academia, government and consumer advocacy organizations.
Watch summit speakers
Summit participants examined what happened in the financial marketplace, discussed how to avoid it in the future, and looked for ways Attorneys General could protect consumers going forward. Key issues covered included better use and sharing of data, more coordination of enforcement actions, and preemption.