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Patrick-Murray Administration's Division of Insurance and Office of Consumer Affairs and Business Regulation Encourage Preparedness in Advance of Hurricane Earl

BOSTON - September 2, 2010 - With the prospect of a major tropical storm hitting Cape Cod and Eastern Massachusetts later this week, the Patrick-Murray Administration's Division of Insurance and Office of Consumer Affairs and Business Regulation are encouraging homeowners to take proactive steps to protect their property from flood and wind damage.

As of Thursday, forecasters were predicting Cape Cod and the Islands, along with other sections of Southeastern and Eastern Massachusetts, would feel the effects of Hurricane Earl, including heavy rain and severe wind. (More Information...)

OCA hosts foreclosure prevention workshops in Brockton, Boston this week

The Patrick-Murray Administration?s Office of Consumer Affairs and Business Regulation hosts foreclosure prevention workshops this week, in Brockton on Wednesday, Aug. 25, and in Boston on Thursday, Aug. 26. These workshops bring together mortgage lenders and homeowners to discuss potential solutions to foreclosure. Homeowners need to bring the following documents to expedite a review of their available options: mortgage statement, two most recent pay stubs, 2008 & 2009 tax returns, a letter of hardship (if available), and a copy of a utility bill. Multi-lingual counselors will be available at the workshops. (More Information...)

Patrick-Murray Administration's Division of Insurance Reaches Rate Agreement with Health New England, Bringing Relief to 21,000 Western Massachusetts Consumers

BOSTON - August 17, 2010 - The Patrick-Murray Administration's Division of Insurance today announced a rate agreement with Health New England, bringing lower rate increases to 21,000 Western Massachusetts consumers and continuing the effort to bring an end to the shock of high health-care cost increases to working families and small businesses. This is the fifth rate agreement between the Administration and insurers that cover approximately 93 percent of the more than 800,000 people who get their health insurance through a small business or as an individual.

"We are pleased that Health New England was able to work cooperatively with us to find a solution that provides immediate relief to their consumers," said Joseph G. Murphy, the Commissioner of the Division of Insurance. "We have reached agreements that cover over 90 percent of the market, and we continue to discuss potential long-term solutions with Health New England, other carriers, and providers and other stakeholders." (More Information...)

Last Round of Credit Card and Gift Card Federal Rules Changes Create Lower Fees, More Protections

BOSTON - August 11, 2010 - The last round of changes to credit card and gift card rules by the Federal Reserve System will create lower fees and new protections for consumers, as outlined today by the Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation. The changes are effective August 22, 2010. (More Information...)

Patrick-Murray Administration's Division of Insurance Receives $1 Million Federal Grant Targeting Enhanced Health Insurance Rate Review

BOSTON - August 17, 2010 - The Patrick-Murray Administration's Division of Insurance has received a $1 million grant from the federal Health and Human Services department, creating additional revenue to enhance the Division's review of rate filings from health insurers.

The grant will be used to work toward improving public access to rate and reimbursement cost information, and will also be used to improve technological and actuarial support of the rate filings. (More Information...)

Patrick-Murray Administration's Office of Consumer Affairs Clears 681 Cases, Assesses $454,000 in Fines in First Year Overseeing Home Improvement Contractor Program

BOSTON - August 12, 2010 - In its first year overseeing the state?s Home Improvement Contractor Program, the Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation has decreased the number of consumer complaint cases by half, and has fined contractors nearly a half-million dollars.

After two hearing officers were hired in fall 2009, the Office addressed 681 dockets, and now has approximately 600 remaining. The hearing officers conducted 381 hearings, and outcomes include 166 registration revocations, 16 registration suspensions, 17 reprimands, and 240 fines totaling $454,250. (More Information...)

Patrick-Murray Administration's Division of Banks Announces Actions against 43 Mortgage Loan Originators

BOSTON - August 9, 2010 - The Patrick-Murray Administration's Division of Banks today announced the issuance of 43 temporary cease-and-desist orders against licensed mortgage loan originators in Massachusetts for failing to meet requirements for licensure under state law. The mortgage loan originators did not meet the standards set in a 2009 law, an Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, also known as the SAFE Act.

A significant provision of the 2007 foreclosure prevention legislation filed and signed by Governor Deval Patrick was the extension of licensing requirements to individual mortgage loan originators employed by licensed non-bank mortgage lenders and mortgage brokers. This law was updated in 2009 by Chapter 44 to ensure compliance with the federal SAFE Act which was largely patterned after the existing Massachusetts law. (More Information...)

Agencies Combine Forces to Hold Shred Day in Cambridge, Urge Increased Awareness of Personal Data and Identity Theft Protection

CAMBRIDGE - July 31, 2010 - A consortium comprised of the Patrick-Murray Office of Consumer Affairs and Business Regulation, the Cambridge Consumers? Council, the City of Cambridge, the Federal Trade Commission, the United States Postal Inspection Service, and the United States Postal Service celebrated a Shred Day today, providing the public an opportunity destroy documents while reminding consumers of the need to protect their personal information.

The event, held at the Central Square Post Office, offered Cambridge-area residents the opportunity to properly dispose of documents like bank statements, tax records, and other paperwork that may include personal data like Social Security numbers or account information. Shredding documents, whether at home with a personal shredder or at community events, is a good step in preventing identity theft, officials said. (More Information...)