The New York State Department of Financial Services (DFS) and the Consumer Financial Protection Bureau (CFPB) have initiated action against two companies involved in soliciting pension advance loans from unsuspecting consumers. The suit against Pension Funding, LLC and Pension Income, LLC alleges that the companies deceived individuals into taking loans against their pensions, hiding high interest rate loans and fees coupled with deceptions about other terms of the proposed lending arrangements.
In their lawsuit, the State of New York requested that an independent receiver take custody of the company’s assets, with the court ultimately appointing Krista Freitag of E3 Advisors to assist consumers who may have been victimized in this alleged scheme.
We offer a free initial consultation to investors who feel they may have been victimized in investment schemes. For an appointment contact the Law Offices of Timothy J. O'Connor at (518) 426-7700.