News & Updates, Consumer Affairs and Business Regulation, Commonwealth of Massachusetts

Office of Consumer Affairs and Division of Banks Announce Florida-Based Companies Prohibited From Transmitting Money to Foreign Countries

2013-05-17T00:00:00Z

BOSTON– The Patrick-Murray Administration’s Office of Consumer Affairs and Business Regulation and Division of Banks announced today that the Division ordered Florida-based InterTransfers, Inc. and its wholly-owned subsidiary Global Money Remittance, Inc. to immediately cease accepting money from Massachusetts consumers after learning that the companies had not been making the transmittals since March of this year.

Office of Consumer Affairs and Division of Banks Announce Falmouth-Based Mortgage Lender Shut Down for Servicing Loans Illegally

2013-05-16T00:00:00Z

The Patrick-Murray Administration’s Office of Consumer Affairs and Business Regulation (OCABR) and Division of Banks announced today that the Division ordered Falmouth-based mortgage lender Mortgage Security, Inc. to immediately cease mortgage lending and loan servicing activities to Massachusetts consumers.

Patrick-Murray Administration’s Office of Consumer Affairs and Business Regulation and Suffolk University Law School’s Rappaport Center Host Conference on Empowering Healthcare Consumers

2013-05-06T00:00:00Z

Massachusetts Office of Consumer Affairs and Division of Banks Announce Shut Down of Debt Collector and Action against Five Unlicensed Predatory Lenders

2013-04-29T00:00:00Z

The Massachusetts Office of Consumer Affairs and Business Regulation and the Division of Banks today announced a series of cease orders targeting unlicensed lenders and a licensed debt collector that were not adhering to the state’s loan consumer protections.

MA Commissioner of Banks David Cotney Announced as Chairman of FFIEC

2013-04-17T00:00:00Z

The State Liaison Committee (SLC) of the Federal Financial Institutions Examination Council (Council) announced today the election of David J. Cotney as its Chairman. Mr. Cotney is the Commissioner of Banks for the Commonwealth of Massachusetts, a position he was appointed to in January 2011, following his service as Acting Commissioner since November 2010.

AG’s Office Offers Tips to Giving Wisely After Marathon Tragedy

2013-04-17T00:00:00Z

BOSTON – After the attack on spectators and runners during the Boston Marathon, Attorney General Martha Coakley is encouraging people to give wisely to charities by gathering information about an organization before making contributions.

AG Coakley encourages Massachusetts residents to consider donating to charities and support funds in the wake of this devastating event, but also warns potential donors to protect themselves from fundraising scams claiming to benefit those affected by this week's tragedy. Most charities that solicit donations during this time are reputable and worthy of financial support from the public, like The One Fund Boston. Some, however, may engage in questionable tactics or mislead the public about the use of donations. According to reports, more than 125 website domain names relating to the Boston Marathon explosions were registered within an hour of the tragedy on Monday.

Massachusetts Office of Consumer Affairs and Division of Banks Announce Saugus- Based Foreign Transmittal Company Put Out Of Business

2013-04-10T00:00:00Z

The Massachusetts Office of Consumer Affairs and Business Regulation and the Division of Banks announced today that the Division ordered Saugus-based Braz Transfers, Inc., to immediately cease accepting money from Massachusetts consumers and transmitting those funds to foreign countries.

Massachusetts Office of Consumer Affairs Hosts National Consumer Protection Week Conference

2013-04-09T00:00:00Z

Insurance Issues, Mortgage Issues, Scams Highlight Top Consumer Issues of 2012, According to Office of Consumer Affairs and Business Regulation, Attorney General’s Office, Better Business Bureau and U.S. Postal Inspection Service

2013-04-01T00:00:00Z

BOSTON – Massachusetts Office of Consumer Affairs and Business Regulation Undersecretary Barbara Anthony was joined today by leaders from the Attorney General’s Office, U.S. Postal Inspectors Office and the Better Business Bureau to announce each agency’s “Top 5” consumer issues of 2012 and offered tips to consumers to avoid similar issues in the future.

Division of Insurance, Health Policy Commission to Focus on Key Health Care Cost Containment Strategies

2013-03-12T00:00:00Z

BOSTON – Tuesday, March 12, 2013 – The Division of Insurance (DOI) and Health Policy Commission (HPC) will focus on key payment reform and transparency goals of the Commonwealth’s nation-leading health care cost containment law in special sessions on provider organizations set to kick off this week. Chapter 224, signed by Governor Patrick in August, encourages providers to transition away from fee-for-service payments to alternative payment methods. Each agency holds a different responsibility for governing these types of organizations. The HPC must establish a registration process for provider organizations and DOI is responsible for certifying provider organizations that accept risk-based payments. Three public sessions will give providers, insurers and consumers the opportunity to offer input as both agencies develop these important new rules.

Massachusetts Office of Consumer Affairs Finds Many Local Fitness Clubs Not Complying With Disclosure Laws

2013-02-27T00:00:00Z

After a month-long investigation of health clubs around the Boston-area, the state Office of Consumer Affairs and Business Regulation today announced that it had found violations of state disclosure laws at many local fitness clubs. Specifically, investigators found that all of the clubs surveyed failed to display membership prices and fees as mandated by state law.

State Office of Consumer Affairs and Its Agencies Collect Over $13.9 Million in 2012

2013-02-27T00:00:00Z

The Patrick-Murray Administration’s Office of Consumer Affairs and Business Regulation and its agencies announced today that they have secured over $13.9 million for Massachusetts through awards, settlements, refunds and fines in calendar year 2012.

NOTICE: Closure of American Career Institute (ACI)

2013-02-22T00:00:00Z

State Promotes Earned Income Tax Credit

2013-02-21T00:00:00Z

State Office of Consumer Affairs and Business Regulation Encourages Preparedness in Advance of Major Snow Storm

2013-02-08T00:00:00Z

Media Alert: American Career Institute Shuts Doors; Leaves Students Schooling In Question

2013-01-10T00:00:00Z

State Office of Consumer Affairs and Division of Insurance Encourage Preparedness in Advance of Snow Storm

2012-12-26T00:00:00Z

Light Up This Holiday Season With Safety Tips From the State Office of Consumer Affairs

2012-12-20T00:00:00Z

Black Friday Shopper's Guide

2012-11-20T00:00:00Z

Consumer Affairs Reminds Veterans Of Law Which Allows For Easier Job Transition

2012-11-09T00:00:00Z

Study Finds Massachusetts Workers' Compensation Rates Among Lowest in Nation

2012-11-01T00:00:00Z

Office Of Consumer Affairs Offers Tips To Stay Safe On Halloween

2012-10-23T00:00:00Z

Undersecretary Of Consumer Affairs Barbara Anthony Testifies On New Item Pricing Law

2012-10-16T00:00:00Z

DPL Launches New Website And Telephone Tip Line For Students Of Occupational Schools

2012-10-10T00:00:00Z

Consumer Affairs Inspectors To Check For Gouging, Perform Three-point Price Check At Massachusetts Gas Stations

2012-09-17T00:00:00Z

Patrick-Murray Administration's Project Credit Smarts Focuses on Savvy Money Management for College Students

2012-09-13T00:00:00Z

Patrick-Murray Administration's Division of Banks to Hold Hearing on New Foreclosure Regulations

2012-08-23T00:00:00Z

Smart Choices, Great Futures: Higher Education in Massachusetts

2012-08-21T00:00:00Z

Patrick-Murray Administration Office of Consumer Affairs Releases Airline Fee Survey

2012-08-17T00:00:00Z

Massachusetts Gives Green Light for Uber Technologies

2012-08-15T00:00:00Z

Office of Consumer Affairs Financial Awareness Survey Finds Broad Gaps in Knowledge

2012-07-25T00:00:00Z

Two Federally-Chartered Banks Convert to Massachusetts State Charters

2012-07-25T00:00:00Z

Licensure Boards Adopt Measures Friendly To Veterans and Military Families

2012-07-16T00:00:00Z

Survey finds Bay State banks charge varying fees for lowest-cost checking accounts

2012-06-26T00:00:00Z

Patrick-Murray Administration Approves $56.8 Million in Health Insurance Rebates for Small Businesses and Individuals

2012-06-26T00:00:00Z

Lowest/No-Fee Checking Account Survey

2012-06-25T00:00:00Z

Basic Rules for Home Improvement Contractors

2012-06-22T00:00:00Z

This series was created to explain the process of becoming and doing business as a registered home improvement contractor. The five videos describe registration, required contract content and payment terms, advertising and estimating guidelines, contract completion, and the HIC arbitration program.

AIG Pays Massachusetts Over $3.4 Million in Multi-State Settlement

2012-06-21T00:00:00Z

Boston Consumer Day

2012-05-23T00:00:00Z

Consumer Financial Protection Bureau considers rules on prepaid cards

2012-05-23T00:00:00Z

Division of Insurance Rejects FAIR Plan Rate Increase

2012-05-14T00:00:00Z

Blue Cross-Blue Shield Revised Filing Drops State Health Insurance Base Rate Average Increase for Small Businesses to Less Than 1 percent

2012-05-03T00:00:00Z

Massachusetts Health Insurance Base Rate Increases Average Just 1.2 percent for Third Quarter of 2012, with Tufts and Fallon Filing Reductions

2012-04-30T00:00:00Z

Encryption a Key Component of Information Security

2012-04-23T00:00:00Z

Statement on cellular phone upgrade fees

2012-04-13T00:00:00Z

Burlington Consumer Day focused on pocketbook issues

2012-04-04T00:00:00Z

New Funeral Board Regulations Help Small Businesses, Grow Jobs

2012-04-04T00:00:00Z

Consumer Affairs Undersecretary and Chief of Staff Speak at Suffolk Law Conference

2012-04-03T00:00:00Z

Financial Literacy Survey

2012-04-02T00:00:00Z

Press Conference: Top 5 Consumer Complaints of 2011

2012-03-14T00:00:00Z

Undersecretary Anthony supports net present value mediation to help get housing market going

2012-03-12T00:00:00Z

Free shredding in Cambridge to benefit community

2012-03-08T00:00:00Z

Consumer Affairs Inspectors on Guard for Gas Price Gouging

2012-03-05T00:00:00Z

Patrick-Murray administration steps up oversight across the Bay State

Office of Consumer Affairs Survey of Over-the-Counter Medication Finds Pharmacies, Name Brands Most Costly

2012-02-22T00:00:00Z

Massachusetts Car Buyers Charged Hundreds in Documentation Fees

2012-02-17T00:00:00Z

Division of Banks Encourages Taxpayers to Investigate Potential Benefits of Earned Income Tax Credit

2012-01-23T00:00:00Z

Patriots Fans Considering Super Bowl Trips Should Be Aware of Ticket, Travel Pitfalls

2012-01-23T00:00:00Z

Find 'Consumer Affairs' on Cable Access across Massachusetts

2012-01-19T00:00:00Z

Massachusetts Auto Insurance Premiums Record Largest Drop in the Nation, According to National Association of Insurance Commissioners

2012-01-18T00:00:00Z

Division of Insurance Certifies Two Group Purchasing Cooperatives, Creating Options for Small Businesses and Individuals to Potentially Save on Health Insurance

2012-01-03T00:00:00Z

As Consumers Wrap up Holiday Shopping, Annual Retail Scanner Survey Finds Accuracy Rates at 99.46 Percent

2011-12-21T00:00:00Z

BOSTON – December 22, 2011 – The annual survey of retail scanners at stores across Massachusetts by the Patrick-Murray Administration's Division of Standards found 99.46 percent accuracy, with 12 of the 13 overcharging errors coming in at $1.50 or lower.

Inspectors from the Division of Standards checked 84 stores representing 46 retailers across Massachusetts. Of the 2,425 items checked, 13 overcharges were found at retail scanners. The 99.46 accuracy rate is consistent with recent years. In 2010 the rate was 99.58, in 2009 it was 99.51, and in 2008 it was 99.18.

Office of Consumer Affairs Offers Shopping Tips to Make the Holidays Brighter, Less Stressful

2011-12-14T00:00:00Z

At the Start of Holiday Shopping Season the Office of Consumer Affairs Reviews National Shipping and Handling Fees, and Alerts Consumers to Tricks of the Trade

2011-11-22T00:00:00Z

Consumers should be wary of fees per item, fees on 'free' extras, and fees on mailed returns

Patrick-Murray Administration Hosts Broadband Conference to Explore Future of Internet Access in Massachusetts

2011-11-08T00:00:00Z

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Data Security Seminar and WISP Workshop (October 31, 2011)

2011-10-25T00:00:00Z

Irene Generates 28,500 Insurance Claims, Totaling More Than $90 Million, According to Division of Insurance Estimates

2011-09-29T00:00:00Z

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AG Coakley Warns Consumers Of Widespread "Robo-Calling" Scam

2011-09-09T00:00:00Z

Division of Insurance Launches Toll-Free Hotline Number for Consumer Complaints and Inquiries

2011-08-31T00:00:00Z

Division of Banks Orders Internet Reverse Mortgage Companies to Cease Activity in Massachusetts

2011-08-26T00:00:00Z

Massachusetts Board of Registration of Funeral Directors and Embalmers Takes Action against Three Individuals Involved in Stanetsky Case

2011-08-11T00:00:00Z

Patrick-Murray Administration's Division of Insurance Updates Tornado Insurance Claim Numbers: 9,500 claims totaling $175 million

2011-06-29T00:00:00Z

Division of Insurance Reminds Individuals the New Health Insurance Open Enrollment Period Starts July 1

2011-06-28T00:00:00Z

Office of Consumer Affairs Advises Tenants in Tornado-Damaged Apartments to Make Thoughtful, Long-Term Decisions on Leases and Housing

2011-06-10T00:00:00Z

Commission Studying Feasibility Of A State-owned Bank Holds Public Meeting In Springfield On June 15

2011-06-10T00:00:00Z

Storm-Affected Homeowners Should Use Massachusetts-Licensed Professionals, Avoid Out-of-State Entities Offering Repair Assistance

2011-06-03T00:00:00Z

Survey Finds Almost All State-Chartered Banks Follow Rules Offering No-Fee '18-65' Accounts, Opportunity for Better Promotion and Consumer Education Remains

2011-06-02T00:00:00Z

With Tornado and Wind Damage Covered by Homeowners Insurance, Patrick-Murray Administration's Division of Insurance Offers Tips for Filing Claims

2011-06-02T00:00:00Z

Nation's Insurance Commissioners Promote Sound Insurance Regulation through Coordination with Congress

2011-05-26T00:00:00Z

Division of Standards Survey Shows Most Gas Stations Following Octane Rules Heading into Memorial Day Weekend

2011-05-25T00:00:00Z

Foreclosure and Debt Relief Companies Misleading Consumers, Charging Improper Fees According to a Recent Survey by the Office of Consumer Affairs

2011-04-29T00:00:00Z

Commissioner of Insurance Approves Workers' Compensation Rate Agreement, Saving $65 Million for Businesses

2011-04-12T00:00:00Z

Consumer Advisory - New rules reduce predatory debt-collection practices, improve consumer protections

2011-04-05T00:00:00Z

Drivers Find Improved Benefits, More Discounts as Patrick-Murray Administration's Auto Insurance Reform Hits Third Anniversary

2011-04-04T00:00:00Z

Patrick-Murray Administration’s Division of Standards Offers Gas-Saving Tips as Prices Continue to Soar

2011-03-14T00:00:00Z

Twenty Unlicensed Electricians Caught in Craigslist Sting by Division of Professional Licensure

2011-03-10T00:00:00Z

Patrick-Murray Administration's Division of Standards Celebrates Weights and Measures Week March 6-12, 2011, Continues Effort to Inspect Thousands of Devices Each Year

2011-03-07T00:00:00Z

Patrick-Murray Administration's Division of Insurance Places All April 1 Health-Care Base Rates on File

2011-02-15T00:00:00Z

BOSTON - February 15, 2011 - One year after disapproving requests for 30 percent increases, the Patrick-Murray Administration's Division of Insurance has placed on file base rates for all health insurance carriers for the second quarter starting April 1. All blended base rate increases are in the single digits – a clear sign that the insurance industry is heeding Governor Patrick's call to rein in costs.

Today's weighted average base rate increases for plans serving small businesses and individuals range from 2.8 to 9.9 percent, and stand in sharp contrast to April 2010 when carriers sought increases as high as 34 percent. By placing the base rates on file, the Division allows those rates to go into effect starting April 1, when carriers renew the largest number of policies during the year.

Patrick-Murray Administration Approves Agreement with Verizon Involving Landline Repairs and New Monitoring Programs in Western Massachusetts

2011-02-10T00:00:00Z

BOSTON - February 10, 2011 - The Patrick-Murray Administration's Department of Telecommunications and Cable today approved a settlement agreement with Verizon that requires the company make significant improvements to its infrastructure and landline network in Western Massachusetts.

The agreement, which also calls for improved monitoring of service and infrastructure in the region, will improve the reliability and quality of local telephone service provided by Verizon in Western Massachusetts.

Approximately 1,500 New Registrations for Non-Bank ATMs following a statewide investigation by the Patrick-Murray Administration

2011-02-07T00:00:00Z

BOSTON – February 7, 2011 – Approximately 1,500 applications for non-bank ATM registrations have been filed with the Patrick-Murray Administration's Division of Banks in the six weeks since the agency announced the results of a survey of the money machines.

There are now about 7,000 registered non-bank ATMs in Massachusetts with 90 applications pending, up from about 5,600 on Dec. 20, 2010, when the Division of Banks announced the results of a statewide survey that found 317 non-bank ATMs operating without proper registration.

Governor Patrick Names David J. Cotney Commissioner of Banks

2011-01-31T00:00:00Z

Cotney has served as Chief Operating Officer of Division of Banks during 20-year career

BOSTON - Monday, January 31, 2011 - Governor Deval Patrick today announced David J. Cotney as the new Commissioner of Banks. Cotney, 43, began his 20-year career at the Division of Banks as an examiner and most recently served as Chief Operating Officer of the agency. Cotney will oversee a staff of approximately 160 employees and a budget of $15.8 million. Cotney has served as Acting Commissioner since the departure of Steven Antonakes in November 2010.

Patrick-Murray Administration's Division of Banks to Hold Hearings in Brockton, Lawrence and Springfield on Foreclosure Right-to-Cure Notices, and Reverse Mortgage Regulations

2011-01-13T00:00:00Z

BOSTON - January 13, 2011 - As the Patrick-Murray Administration's Division of Banks puts into place new rules regarding right-to-cure foreclosure notices and reverse mortgages, public informational hearings will be held to gather input on the regulations in late January.

The upcoming regulations on the right-to-cure notices and reverse mortgages are part of legislation signed by Governor Deval Patrick in August 2010 as part of the Patrick-Murray Administration's response to the foreclosure crisis in Massachusetts. The legislation extends the right-to-cure time period for homeowners from 90 to 150 days; and gives the Division of Banks the ability to create regulations regarding information about the timing of the cure period, counseling options, alternatives to foreclosure sale and the language in which the notice is printed.

Patrick-Murray Administration Retailer Scanner Survey Finds High Accuracy Rates, but Some Costly Errors

2010-12-21T00:00:00Z

Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation Warns Consumers Return Fees Can Lead to Post-Holiday Blues

2010-12-15T00:00:00Z

Commissioner of Banks Steven L. Antonakes Named to Leadership Position at the Consumer Financial Protection Bureau

2010-11-16T00:00:00Z

BOSTON - November 16, 2010 - The United States Treasury announced today that Massachusetts Commissioner of Banks Steven L. Antonakes, who has played a leadership role on banking issues on the state and national levels, has been selected to head the Bank Supervision Group at the new federal Consumer Financial Protection Bureau (CFPB).

David J. Cotney, the Chief Operating Officer of the Division of Banks, has been named Acting Commissioner of the Division of Banks.

Patrick-Murray Administration's Second Survey of Mandatory Lemon Law Notice Sticker Rules Finds Better Compliance from 2009 Review

2010-10-14T00:00:00Z

DEDHAM – October 14, 2010 – A second survey of auto dealers by the Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation finds dealers, particularly used-car dealers, are doing a better job of attaching Lemon Law notice stickers to vehicles for sale.

The survey found used-car dealers are attaching stickers to 62 percent of their cars, up from 49 percent during a similar survey in 2009. Overall, including new-car dealers, compliance with the state law mandating each car for sale on a lot include information regarding a consumer's Lemon Law rights increased from 57 percent to 63 percent.

Patrick-Murray Administration's Department of Telecommunications and Cable Launches Outreach Tour for Low-Income Phone Programs

2010-09-08T00:00:00Z

BOSTON - September 8, 2010 - The Patrick-Murray Administration’s Department of Telecommunications and Cable is launching a tour the week of Sept. 13 promoting the Lifeline and Link-Up services, federal programs offering discounts on telephone service to low-income residents.

Lifeline and Link-Up are federally-funded programs overseen by the Department that help eligible households reduce the cost of phone service. Link-Up offers a 50 percent discount, up to $30, for connecting phone service; and Lifeline gives eligible consumers an average discount of $16 on the monthly phone bill for basic service.

Patrick-Murray Administration's Division of Standards Fines Food Retailers $143,000 for Item Pricing Violations

2010-09-07T00:00:00Z

BOSTON - September 7, 2010 - The Patrick-Murray Administration's Division of Standards announced today it has fined food retailers a total of $143,750 after finding 2,443 instances where items were missing pricing labels.

By state law, grocery stores and stores selling food must put a price label on each individual item (with some exceptions like eggs, some snack food, and soft drink bottles and cans). The Division of Standards regularly inspects markets to ensure items are properly labeled.

OCA hosts foreclosure prevention workshops in Brockton, Boston this week

2010-08-23T00:00:00Z

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

2010-08-18T00:00:00Z

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."

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

2010-08-18T00:00:00Z

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.

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

2010-08-09T00:00:00Z

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.

Patrick-Murray Administration's Division of Insurance Settles Rate Dispute with Blue Cross-Blue Shield; Collective Agreements Cover 90 Percent of Small Businesses and Individuals in Merged Market

2010-08-05T00:00:00Z

BOSTON - Thursday, August 5, 2010 - The Patrick-Murray Administration today announced an agreement on a health-insurance rate settlement with Blue Cross-Blue Shield that reduces proposed rate increases to an average blended rate of approximately 8 percent and delivers significant savings to nearly 400,000 small businesses and working families in Massachusetts.

Tufts Associated Health Plan entered into a settlement with the administration on Monday, bringing the total number of agreements the administration has negotiated on behalf of small businesses and working families to four.

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

2010-08-02T00:00:00Z

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.

Patrick-Murray Administration’s Reforms of Auto Insurance Lead to Most Affordable Rates in the Country

2010-06-18T00:00:00Z

BOSTON – June 18, 2010 – Two years after the reform of the auto insurance marketplace by the Patrick-Murray Administration, Massachusetts has the most affordable rates in the country, according to InsWeb Corp., a national insurance marketplace.

The InsWeb index is based on a state’s median auto insurance rates as part of the median state income. The lower the “affordability factor,” the less of a family’s budget is devoted to car insurance. The study found the Massachusetts affordability index to be 1.84 percent. The runner-up state was New Hampshire, with an index number of 2.23 percent.

State Drivers Can Hit the Road for Memorial Day, Summer Seasons with Confidence in Content of Gasoline

2010-05-27T00:00:00Z

BOSTON - May 27, 2010 - Memorial Day weekend is traditionally the kickoff to the busy summer driving season, and a survey of octane levels at gas stations around the state conducted by the Patrick-Murray Administration's Division of Standards gives drivers confidence that the octane content of the gas they are buying matches or exceeds the number listed on the pump.

Inspectors from the Division of Standards check octane levels at 237 gas stations in the survey, and found one violation, at Quik + Variety at 584 Washington St., Attleboro. In every other instance, the octane level from the test matched or was higher than the octane listed on the pump, as mandated by state law.

OCA Survey Finds One in Five Home Improvement Contractor Advertisements Placed by Unregistered Entity

2010-05-18T00:00:00Z

BOSTON - May 18, 2010 - A survey of 1,000 home improvement contractor phone-book and online advertisements by the Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation (OCA) found one in five advertisements was placed by unregistered entities.

For consumers, being able to easily find and check a registration number is important as homeowners go through the process of considering a contractor. Hiring a registered contractor affords some protections and possible compensation from the state's Guaranty Fund that is not available if a consumer uses an unregistered contractor.

Governor Patrick Announces Businesses to Save $22.5 Million after Agreement on Workers’ Comp Rates

2010-05-11T00:00:00Z

BOSTON – May 11, 2010 – Governor Deval Patrick announced today that the Division of Insurance's State Rating Bureau has reached an agreement that will save businesses in Massachusetts an estimated $22.5 million on workers' compensation insurance premiums in one year, a 2.4 percent decrease in rates.

"This rate cut balances the need to help businesses control costs and provide employees with appropriate benefits," said Governor Patrick. "Lowering the cost of workers' compensation insurance is very much in keeping with our larger goal of improving the state's business climate so that we can grow the economy and create jobs."

Governor Patrick Directs Division of Standards to Monitor Signs of Price Gouging Following Water Emergency

2010-05-02T00:00:00Z

BOSTON – May 2, 2010 – Governor Deval Patrick has directed the state’s Division of Standards, which inspects item pricing at retailers throughout the Commonwealth, to closely monitor bottled water prices in areas affected by the weekend’s water emergency, including inspecting stores in the region and responding to potential consumer complaints of price gouging.

On Saturday, an MWRA water main broke in Weston, creating a water emergency for over two million people in the Greater Boston area. As a result, Governor Patrick declared a boil order for all tap water for all uses except bathing, flushing and fire protection. In many communities, bottled drinking water was quickly snapped off shelves at supermarkets.

Patrick-Murray Administration's Consumer Agency Review of Rebate Disclosures Leads to Retailer Improvements

2010-04-29T00:00:00Z

BOSTON - April 29, 2010 - An advertising monitoring initiative conducted by the Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation has led to changes in rebate policies by two national retailers and a major telecommunications company.

Sears, Staples and T-Mobile previously changed the form of many of their rebates from paper checks to rebate cards. However, consumers are generally accustomed to rebates in the form of checks, and rebate cards often include fees and restrictions not associated with rebate checks. The companies did not clearly and conspicuously announce the rebate details in advertising, an omission that created the impression that rebates would still arrive in the form of checks.

Patrick-Murray Administration’s Division of Insurance Announces Decision on Rate Increase Submissions from Health Insurers

2010-04-01T00:00:00Z

BOSTON - April 1, 2010 - The Patrick-Murray Administration's Division of Insurance today disapproved 235 of the 274 rate increases filed by health insurers for small businesses. Insurance Commissioner Joseph G. Murphy disapproved the base rates after they were found to include excessive increases and rates unreasonable relative to the benefits provided.

Because of today's action, small businesses will realize immediate relief from double-digit premium increases. Policyholders who have already made a premium payment under the disapproved rate will receive a refund or credit on their base rates.

Patrick Administration Announces 35-State Settlement Agreement with CitiFinancial

2010-03-24T00:00:00Z

BOSTON – March 24, 2010 – The Patrick-Murray Administration's Division of Banks today announced a 35-state settlement agreement with CitiFinancial. The agreement between CitiFinancial and state mortgage regulators was executed after an examination conducted by the Massachusetts Division of Banks to determine compliance with state and federal consumer protection laws found that CitiFinancial had failed to report 91,127 residential mortgage loans to the federal government, as required by the Home Mortgage Disclosure Act (HMDA).

The mortgage loans that were omitted from CitiFinancial's HMDA Loan Application Register were originated between 2004 and 2007. The under-reporting of the mortgage loans was apparently caused by an internal systems error at CitiFinancial that went undetected until the Massachusetts examination.

Patrick-Murray Administration Survey of Home Show Contractors Finds 85 Percent Do Not Follow Registration Number Display Requirements

2010-03-22T00:00:00Z

BOSTON - A survey of home improvement contractors (HIC) conducted by the Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation found that 85 percent of the contractors checked did not follow state laws requiring the listing of registration numbers on displays and other advertising.

Since taking over the HIC program last July, the Office of Consumer Affairs has focused on ensuring contractors know the law regarding registration numbers and understand the importance of displaying the numbers. For consumers, being able to easily find and check a registration number is important as homeowners go through the process of considering a contractor. Hiring a registered contractor affords some protections and possible compensation from the state’s Guaranty Fund that would not be available if a consumer uses an unregistered contractor.

Top 5 Consumer Issues and Complaints Outlined by Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation, Attorney General's Office, Better Business Bureau, and the FTC

2010-03-09T00:00:00Z

BOSTON - March 9, 2010 - Today, the Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation joined with the Attorney General's Office, Federal Trade Commission, and Better Business Bureau to announce each agency's Top 5 consumer issues and complaints of 2009 - and offer tips to consumers to ensure they are not tripped up by the same issues in 2010.

At a press conference held today in Boston, officials from each agency talked about the five top issues and complaints they have heard from Massachusetts consumers. Consumers who had to deal with these issues told their personal stories involving home improvement contractors and car dealers.

Patrick-Murray Administration's Division of Banks Leads National Effort Opposing Refund Anticipation Loans

2010-03-02T00:00:00Z

BOSTON - The Patrick-Murray Administration's Division of Banks led an effort to create a policy statement opposing high-interest refund anticipation loans (RAL) published last month by the Conference of Bank Supervisors and the American Council of State Savings Supervisors.

A refund anticipation loan is a loan borrowed against the amount of a consumer's anticipated income tax refund, and often includes fees to be paid to the tax preparer and extremely high interest rates for the financial institution. High-rate RALs have the potential to be very costly to consumers. This product tends to be targeted to low-income borrowers who may qualify for the Earned Income Tax Credit, which is a tax credit for low- to moderate-income individuals.

Governor Patrick Announces Plan to Support Small Businesses and Create Jobs

2010-02-10T00:00:00Z

BOSTON – Wednesday, February 10, 2010 – Building on his continued efforts to foster job creation and economic growth in the Commonwealth, Governor Deval Patrick today filed legislation to help small businesses hire new workers and reduce the cost of doing business.The Governor’s legislation provides tax credits for businesses that create new jobs, eases healthcare and unemployment insurance costs for employers and creates a new organization dedicated to providing businesses with the financial capital and resources they need to grow.

Consumer Alert: Toyota Recall and At-Fault Accident Appeals (Jan-2010)

2010-01-29T00:00:00Z

Office of Consumer Affairs Announces Launch of NMLS Consumer Access to Mortgage Lender Information

2010-01-25T00:00:00Z

The Patrick-Murray Administration’s Office of Consumer Affairs and Business Regulation today announced that the Nationwide Mortgage Licensing System & Registry, a mortgage licensing system operated by state financial regulators including the Massachusetts Division of Banks, is launching “NMLS Consumer Access.”

NMLS Consumer Access is a fully searchable website that allows the public to view information concerning state-licensed mortgage lenders, brokers and individuals currently licensed through NMLS. Future updates to NMLS Consumer Access will provide a record of applicable disciplinary actions taken against a licensee by any jurisdiction in the country.

Homeowners across Massachusetts See Reduced Impacts on Policies after Patrick Administration's Insurance Commissioner Approves Stipulation

2010-01-14T00:00:00Z

BOSTON – January 14, 2010 – Joseph G. Murphy, the Acting Commissioner of the Patrick-Murray Administration’s Division of Insurance, approved today a stipulation regarding the Massachusetts Property Insurance Underwriters Association – the FAIR Plan – that will result in a decrease of nearly 1 percent for homeowners’ policies across the state. The result is 3 percent less than the FAIR Plan sought when proceedings started in October.The order by the Acting Commissioner eliminates a proposed rate increase for Cape Cod residents, and slices in half proposed rate increases in areas such as New Bedford, Worcester and Springfield. Many areas, such as Boston, see decreases through the order.

“I am very pleased that the Division’s State Rating Bureau so ably negotiated this overall decrease on behalf of the consumers of the Commonwealth. Ensuring that the insurance rates are commensurate with the benefits provided at the most reasonable cost is the Division’s priority,” Murphy said. “If it weren’t for the diligent work of the Division’s rating bureau staff, consumers would have seen rate increases, some of which did not appear to be justified.”

Retailers Score High, Consumers Win Big on Division of Standards Retail Scanner Price Checks

2009-12-21T00:00:00Z

BOSTON – December 21, 2009 – Consumers can finish their holiday shopping confident that they will be charged accurately for gifts after the Patrick-Murray Administration’s Division of Standards’ annual pricing scanner survey found scanners were 99.51 percent accurate.

State regulations mandate stores’ scanners be 98 percent accurate, and all 75 stores checked were above that threshold. In fact, 13 of 15 retailers checked in at 99 percent or higher overall. In all, Division of Standards inspectors checked 3,863 items, and only 19 were scanned at an overcharge.

Office of Consumer Affairs Ends Check Casher Partnerships Targeting Social Security Recipients

2009-12-14T00:00:00Z

BOSTON - December 14, 2009 - The Patrick Administration’s Office of Consumer Affairs and Business Regulation announced today that the Division of Banks has ordered six state-licensed check cashers to terminate partnerships with out-of-state banks to charge Social Security recipients exorbitant fees to cash and access their benefit checks.

Under these arrangements, check cashers would market the establishment of direct deposit services at their locations and create a limited-purpose account with an out-of-state bank to allow for the direct deposit of customers’ Social Security or other government benefit checks. Approximately 2,700 Massachusetts residents had established these accounts, even though Massachusetts banks and credit unions are required by law to cash Social Security and pension checks at no cost to the consumer.

Survey Finds more than 40 Percent of New and Used Cars for Sale Missing Mandatory Lemon Law Notice

2009-10-29T00:00:00Z

BOSTON - October 29, 2009 – In a survey of car dealers’ lots conducted by the Patrick Administration’s Office of Consumer Affairs and Business Regulation, nearly half of the almost 2,000 new and used cars checked were missing the bright-yellow Lemon Law warranty notices required by law.Auto dealers are required to place these notices on cars offered for sale. These notices inform consumers of their rights under the state’s new and used car Lemon Laws.

Patrick-Murray Administration Offers Financial Literacy, Credit Card Education to College Students through Project Credit Smarts

2009-09-16T00:00:00Z

BOSTON – Sept. 16, 2009 – The Patrick-Murray Administration’s Office of Consumer Affairs and Business Regulation, along with a coalition of nine local colleges and nine business and government partners, announced the launch of Project Credit Smarts – a program designed to educate Boston-area students about credit card use, including its dangers and pitfalls – at a press conference today at Roxbury Community College.

“Young adults need to understand the importance of building a solid credit foundation and developing responsible financial management skills,” said Governor Deval Patrick. “Project Credit Smarts will help students gain these critical life skills.”

New Rights for Credit Card Holders Go Into Effect Tomorrow

2009-08-19T00:00:00Z

August 19, 2009

Small-Business Considerations Reflected in Massachusetts' Revised ID Theft Regulations

2009-08-17T00:00:00Z

BOSTON -- Aug. 17, 2009 -- In keeping with Governor Deval Patrick’s commitment to balancing consumer protection with the needs of small business owners, Massachusetts Undersecretary of the Office of Consumer Affairs and Business Regulation Barbara Anthony today announced adjustments to Massachusetts’ identity theft regulations that maintain protections and also reinforce flexibility in compliance by small businesses.

The updated regulations will take effect March 1, 2010. The regulations make clear that their approach to data security is a risk-based approach that is especially important to small businesses that may not handle a lot of personal information about customers. Under a risk-based approach, a business, in developing a written security program, should take into account its size, nature of its business, the kinds of records it maintains, and the risk of identity theft posed by its operations.

Consumers Urged to Drive a Smart Bargain to Maximize Cash for Clunkers Program

2009-08-11T00:00:00Z

Division of Banks Announces Action against Taylor, Bean & Whitaker

2009-08-10T00:00:00Z

CVS, Shaw's Discuss Plans to Reduce Overcharges with Office of Consumer Affairs and Business Regulation

2009-07-09T00:00:00Z

BOSTON – July 9, 2009 – Officials from the Office of Consumer Affairs and Business Regulation and the Division of Standards have met with CVS and Shaw's to discuss the individual companies' plans to reduce overcharges at stores in Massachusetts.

Leaders from OCABR and DOS also anticipate meeting with other retailers that have high rates of overcharging. Overcharging occurs when the price rung up at the register is higher than the posted price on a store's shelves.

Division of Insurance Auto Insurance Study Results

2009-07-02T00:00:00Z

On April 1, 2008, the Massachusetts Division of Insurance inaugurated the change to a more competitive auto insurance market. In doing so, the state transformed from a fixed rate setting by state regulators to "managed competition." Massachusetts is the last state in the country to move from state-set auto insurance rates to a competitive rating system.

To read the executive summary of the report, please click here

Patrick Administration Announces Multi-State Agreement with Taylor, Bean & Whitaker Mortgage Corporation

2009-06-22T00:00:00Z

Department of Telecommunications and Cable to Hold Verizon Service Quality Hearings in Western Massachusetts

2009-06-04T00:00:00Z

BOSTON – June 4, 2009 – Department of Telecommunications and Cable interim Commissioner Carol Foltz said today that four hearings will be held in Western Massachusetts regarding the state of Verizon Massachusetts’ telephone service quality pursuant to G. L. c. 159, § 16.

The hearings will be held according to the following schedule:

Franklin County: Tuesday, June 23, 6-9 p.m., at Greenfield High School Cafeteria, 1 Lenox Ave., Greenfield
Hampshire County: Wednesday, June 24, 6-9 p.m., at JFK Middle School Auditorium, 100 Bridge Road, Florence
Berkshire County: Tuesday, June 30, 6-9 p.m., at Berkshire Community College Robert Boland Theatre, 1350 West St., Pittsfield
Hampden County: Wednesday, July 1, 6-9 p.m., at Westfield College Scanlon Hall, 62 School St., Westfield

Registration Open for Worcester HiFi Financial Literacy Program

2009-05-04T00:00:00Z

BOSTON -- May 4, 2009 -- The High School Financial Literacy (HiFi) Program, which trains teachers, financial professionals, and representatives of community-based organizations to teach financial literacy to teens, will hold free classes for interested instructors at Quinsigamond Community College on Tuesday, June 16.

The financial challenges facing today's students are many and complex. The HiFi Program helps provide them with the tools to make informed financial decisions that will positively affect their futures. Sponsored by the Office of Consumer Affairs and Business Regulation, HiFi is a comprehensive effort to bring financial literacy education into the classroom through those who have gone through the HiFi training process.

Registration Open for Boston HiFi Financial Literacy Program

2009-05-04T00:00:00Z

BOSTON -- May 4, 2009 -- The High School Financial Literacy (HiFi) Program, which trains teachers, financial professionals, and representatives of community-based organizations to teach financial literacy to teens, will hold free classes for interested instructors at the Federal Reserve Bank of Boston on Monday, May 11.

The financial challenges facing's students are many and complex. The HiFi Program helps provide them with the tools to make informed financial decisions that will positively affect their futures. Sponsored by the Office of Consumer Affairs and Business Regulation, HiFi is a comprehensive effort to bring financial literacy education into the classroom through those who have gone through the HiFi training process.

Study Finds State Workers' Compensation Rates Among Lowest in Nation

2009-04-16T00:00:00Z

BOSTON - April 16, 2009 - Massachusetts has the third-lowest workers' compensation premium rates in the country after decreases on average premiums of over 17 percent under the Patrick Administration, according to a study by the Oregon Department of Consumer and Business Services.

The Oregon report, released last month, researched the Jan. 1, 2008, rates for the 50 top industries in that state, and found that Massachusetts' combined rates of $1.39 per $100 in payroll is the third-lowest of the 50 states and Washington, D.C., and is 62 percent of the national median of $2.26.

Insurance Commissioner Responds to Consumer Concerns about Accident Dispute Changes

2009-03-12T00:00:00Z

BOSTON - Thursday, March 5, 2009 - Responding to concerns from Massachusetts consumers, Insurance Commissioner Nonnie S. Burnes today announced she will offer additional rules in the coming weeks that address concerns raised by consumers and continue managed competition's focus on protecting and delivering benefits to drivers everywhere in Massachusetts. "Managed competition has been and continues to be a success story for good drivers everywhere in Massachusetts," said Commissioner Burnes. "Our foremost priority is consumers, and ensuring they experience every benefit our competitive market has to offer in terms of price, choice and service. The rules we develop around at-fault accident designations will reflect our commitment to consumers just as the transition to managed competition has since day one."

Office of Consumer Affairs Files Revised ID Theft Regulations

2009-02-12T00:00:00Z

BOSTON - February 12, 2009 - Today, the Office of Consumer Affairs and Business Regulation filed revised identity theft regulations that will preserve the privacy of consumers by increasing the level of security on personal information held by businesses and other entities.

The regulations will take effect Jan. 1, 2010, and mandate that personal information -- a combination of a name along with a Social Security number, bank account number, or credit card number -- be encrypted when stored on portable devices, or transmitted wirelessly or on public networks. Encryption of personal information on portable devices carrying identity data like laptops, PDAs and flash drives must also be completed by Jan. 1, 2010, and will ensure better protection of personal information.

Don't Borrow Your Own Money! Steer Clear of Tax Refund Anticipation Loans

2009-01-15T00:00:00Z

The Office of Consumer Affairs and Business Regulation (OCABR) and Department of Revenue (DOR) advise tax payers to steer clear of tax refund loans, also known as refund anticipation loans (RALs). RALs are secured by and repaid from a pending federal tax refund.

A refund anticipation loan is a risky proposition because it must be repaid even if the taxpayer’s refund is denied, less than expected, or frozen. If the taxpayer cannot pay back the RAL, the lender may send the account to a debt collector.

Division of Insurance Creates Consumer-Friendly Accident Dispute Process

2009-01-08T00:00:00Z

In keeping with the Division of Insurance’s commitment to consumer protection, Commissioner Nonnie S. Burnes today established a streamlined, consumer-friendly process for the review of disputed at-fault accident decisions. The new procedures replace the time-consuming and costly Board of Appeals surcharge hearing process with a no-cost 30-day review period enforced by the Division.

“Under the current system, consumers disputing an at-fault accident decision by their insurance company have been forced to pay hefty fees and wait up to two years for a resolution,” said Commissioner Burnes. “Now long wait times and costly charges will be a thing of the past and the Division of Insurance will use its significant regulatory authority to ensure consumers benefit from greater protections.”

Patrick Administration Provides New Resource To Assist Tenants Impacted By Foreclosure

2008-12-09T00:00:00Z

BOSTON - December 9, 2008 - As part of the Patrick-Murray Administration's ongoing response to the foreclosure crisis, the Executive Office of Housing and Economic Development and the Office of Consumer Affairs and Business Regulation, with support from Massachusetts Housing Partnership, released a brochure outlining the rights and responsibilities of tenants living in foreclosed buildings. The guide empowers renters with information to ensure that they understand the foreclosure process and are not unfairly evicted after the building they live in is foreclosed upon.

Notice of Public Hearing: Amendment to 201 CMR 17.00

2008-12-02T00:00:00Z

State Division of Banks Takes Action Against Illegal Reverse Mortgage Programs Targeting Seniors

2008-09-24T00:00:00Z

BOSTON - September 24, 2008 - The Division of Banks (Division) today announced the issuance of four cease and desist orders against licensed mortgage lenders and brokers. Each case involved reverse products which were made in violation of the Commonwealth of Massachusetts' reverse mortgage statute. Reverse mortgages are loans that enable senior homeowners, typically 62 years and older, to convert the equity in their home into income. Massachusetts law prohibits a lender from making a reverse mortgage without a plan that has been approved that includes mandatory counseling.

Patrick Administration Issues Comprehensive Identity Theft Prevention Regulations & Executive Order

2008-09-22T00:00:00Z

Countrywide Breach - Protect Your Identity

2008-09-18T00:00:00Z

9/18/08

Division of Insurance Launches New Consumer Resources Web Site

2008-08-25T00:00:00Z

Commissioner of Insurance Nonnie S. Burnes today unveiled a new web site of resources for Massachusetts insurance consumers. Available at http://www.InsureMass.DOI.state.ma.us, the site is designed to better assist consumers as they seek information and make decisions about health, auto, homeowners and other lines of insurance.

"Insurance is an important and costly purchase. The best way for consumers to find the right coverage is to do their homework," said Commissioner Burnes. "InsureMASS is a one-stop resource that will make it much easier for consumers to learn about insurance and make informed choices."

State Launches New Reverse Mortgage Web Site for Seniors

2008-08-15T00:00:00Z

With the popularity of reverse mortgage loans on the rise among Massachusetts senior citizens, the Office of Consumer Affairs and Business Regulation (OCABR) and the Executive Office of Elder Affairs (EOEA) today launched a new web site, http://www.mass.gov/reversemortgage, to provide information and guidance to borrowers about these types of products.

Reverse mortgages are loans that enable senior homeowners, typically 62 years and older, to convert the equity in their home into income. Many seniors turn to these types of products to help supplement Social Security income or pay for unexpected expenses. A reverse mortgage lender typically lends the borrower money based on several factors, including the value of the property, the age of the borrower and the accumulated equity in the home. Borrowers have a choice of various payment options, including a lump sum payment at settlement, monthly installments or a line-of-credit that enables a borrower to draw money when he or she chooses, until the line of credit is exhausted. Repayment on the loan is generally not required until the borrower is deceased or does not permanently reside at the property.

Governor Deval Patrick Signs Broadband Access Law

2008-08-04T00:00:00Z

Governor Patrick Announces Details for $20 Million Loan Fund to Acquire Foreclosed Homes and Foster Neighborhood Stabilization

2008-07-02T00:00:00Z

Governor Deval Patrick today announced the details of a unique state-sponsored, low-interest loan fund for developers to buy abandoned and at-risk properties, and get them quickly reoccupied with new homeowners or renters. The fund, consisting of $17 million from private lenders and another $3 million from private non-profit foundations, is part of the Patrick Administration's comprehensive response to the foreclosure crisis in Massachusetts.

Governor Calls for First in Nation Lender Standards

2008-06-04T00:00:00Z

Commissioner Burnes Approves Mapfre, S.A. Acquisition of Commerce Insurance Company

2008-05-22T00:00:00Z

BOSTON ¿ May 22, 2008 ¿ Commissioner of Insurance Nonnie S. Burnes today approved the acquisition of Commerce Insurance Company by the Spanish insurance company Mapfre, S.A. The Commissioner's decision follows a public hearing held at the Division of Insurance on May 1, 2008.

The approval will allow Mapfre, one of the largest insurance companies in Spain, to acquire all of the outstanding common stock of the Commerce Insurance Company for $2.2 billion. Mapfre is located in Madrid and also has insurance operations in Turkey, the Philippines and throughout Latin America. The Commerce Group, headquartered in Webster, is the largest writer of property and casualty insurance in the Commonwealth. The boards of both companies, and the majority of their shareholders, previously approved the acquisition.

Broadband Bond Bill Receives Favorable Report, Moves Closer to Vote in House

2008-05-06T00:00:00Z

Division of Insurance Completes Review of Unum Group Disability Claims Payments, Returns $13 Million to Massachusetts Consumers

2008-04-15T00:00:00Z

Division of Insurance Advises Consumers about Ways to Take Advantage of Managed Competition

2008-03-07T00:00:00Z

State Warns Consumers to Steer Clear of Refund Anticipation Loans

2008-01-29T00:00:00Z

New Deadline for 201 CMR 17.00 Written Comments

2008-01-15T00:00:00Z

Insurance Commissioner Orders Unlicensed Health Insurer to Stop Advertising Fraudulent Policies

2008-01-14T00:00:00Z

Insurance Commissioner Places Additional Managed Competition Rates on File

2008-01-08T00:00:00Z

Annual Retail Scanner Price Checks Produce Positive Results for Holiday Shoppers

2007-12-21T00:00:00Z

Division of Insurance Calls on Insurers to Issue Payment Notifications to Protect Consumers

2007-12-20T00:00:00Z

Insurance Commissioner Places Managed Competition Rates on File

2007-12-19T00:00:00Z

Insurers Amend Rates; Competition Drives Premiums down

2007-11-27T00:00:00Z

Unrequested Credit Cards Sent to Macy's Customers

2007-11-02T00:00:00Z

9/28/07

Cell Phones and the Do Not Call Registry

2007-10-23T00:00:00Z

Insurance Commissioner Issues Final Managed Competition Regulation

2007-10-05T00:00:00Z

Insurance Commissioner Proposes Guidelines for Managed Competition

2007-08-28T00:00:00Z

Federal Reserve Bank of Boston: Massachusetts Mortgage Summit Issues Recommendations

2007-07-27T00:00:00Z

New England Community Developments - Issue 3, 2007
In April 2007, the Massachusetts Division of Banks reported on the recommendations of its mortgage summit. The summit brought together a wide range of stakeholders to develop concrete responses to the problem of rising foreclosures. This article describes the collaborative process used in the mortgage summit and the recommendations issued. These recommendations illustrate a number of possible remedies to limit foreclosures and their impact on consumers and communities.

Managed Auto Competition Frequently Asked Questions

2007-07-17T00:00:00Z

Insurance Commissioner Moves to Give Consumers Lower Rates, Greater Choice through Managed Auto Competition

2007-07-17T00:00:00Z

Auto Insurance Decisions (07/16/2007)

2007-07-16T00:00:00Z

Mortgage Fraud Bill Text

2007-06-20T00:00:00Z

Division of Banks to Seek Case-by-Case Delay on Foreclosures

2007-04-30T00:00:00Z

Foreclosures In an ongoing response to the state¿s foreclosure crisis, Governor Deval Patrick today directed Commissioner of Banks Steven L. Antonakes to seek delays from mortgage lenders, on a case-by-case basis, for any Massachusetts homeowner who has filed a complaint with the Division of Banks as part of their consumer assistance outreach efforts.

Consumer Affairs Urges College Students to Know Their Tenant Rights

2007-04-24T00:00:00Z

Avoid Credit Pitfalls Today

2007-02-09T00:00:00Z

Home Improvement Dos & Don'ts

2007-02-07T00:00:00Z

Practical advice to ensure home improvement projects are a success.

Massachusetts Kicks Off 9th Annual Consumer Protection Week

2007-02-05T00:00:00Z

Auto Insurance Rates Drop by 11.7%

2006-12-15T00:00:00Z

DTE Fines KeySpan $250,000 for LNG Security Breach

2006-12-08T00:00:00Z

Holocaust Restitution Fee Waiver Program Launched

2006-12-01T00:00:00Z

Home Smart Website Launched to Assist Home Buyers and Owners

2006-11-16T00:00:00Z

Division of Banks Cracks Down On Abusive Mortgage Lenders and Brokers

2006-09-08T00:00:00Z

Tatarka and Bowler Applaud SJC's Unanimous Assigned Risk Decision

2006-08-23T00:00:00Z

Leominster Drinking Water Operator Surrenders License

2006-08-17T00:00:00Z

Fair Plan Rates Announced

2006-08-11T00:00:00Z

Know Your Shopping Rights Before You Spend

2006-08-11T00:00:00Z

Consumers Asked to Conserve Energy Use during Hot Weather

2006-08-01T00:00:00Z

DPL Initiates Court Actions to Combat Unlicensed Practice

2006-07-26T00:00:00Z

Attention North Shore Communities: Be Aware of Contractor and Insurance Scams

2006-07-07T00:00:00Z

FAIR Plan Rate Decision Announced

2006-06-30T00:00:00Z

State Orders More Payday Lenders to Cease Activity in Massachusetts

2006-05-26T00:00:00Z

Healey Urges High Schools to Implement Financial Literacy Program

2006-04-03T00:00:00Z

Two days before the release of a national survey that has historically shown the majority of high school seniors do not have sufficient knowledge of personal finance, Lieutenant Governor Kerry Healey called on all Massachusetts high schools to implement the Commonwealth's voluntary financial literacy initiative known as HiFi.

Over $5 Million Returned To Consumers In 2005

2006-02-09T00:00:00Z

Lindstrom Testifies For Increased ID Theft Protections

2006-02-07T00:00:00Z

State Board Issues Enforcement Actions Against Electrician Licensees

2006-01-25T00:00:00Z

State Boards Issue Enforcement Actions Against Real Estate Licensees

2006-01-25T00:00:00Z

State Board Temporarily Shuts Down Dorchester Beauty Salon

2006-01-18T00:00:00Z

State Board Issues Enforcement Actions Against Five Plumbers

2006-01-10T00:00:00Z

Consumer Alert: Illegal Mortgage Broker Ordered to Cease

2005-12-21T00:00:00Z

Consumer Affairs Gauges Retailer Pricing Accuracy

2005-12-20T00:00:00Z

Strong compliance at checkout, but in-aisle scanner concerns mount

DTE Orders Utilities To Upgrade Manhole And Stray Voltage Safety

2005-12-12T00:00:00Z

MA Insurance Regulator Informs Cape And Coastal Homeowners Of Hingham Mutual Non-Renewals

2005-12-07T00:00:00Z

Approximately 6,500 policyholders may seek coverage through FAIR Plan

Don't Get Burned On Firewood Sales

2005-12-01T00:00:00Z

Advice from MA Consumer Affairs Office on Firewood Purchases

Consumer Affairs Office Releases Auto Insurance Survey

2005-11-14T00:00:00Z

Callers Confirm They Pay Too Much, Want Competitive Pricing and More Choice

State Consumer Affairs Office Launches "Act Now, Save Now" Energy Conservation Campaign

2005-11-09T00:00:00Z

Urges Households to Take Steps Now to Lighten the Load of Winter Heating Costs

State's Financial Literacy Program Hits Milestone, Sets Sights On Expansion

2005-10-24T00:00:00Z

Over 20,000 Texts Distributed, Teachers in 154 Communities Participating

The Massachusetts Office of Consumer Affairs today announced that its voluntary high school financial literacy initiative known as "Hi-Fi" is closing in on participation among half of the state's high schools. Just six months since its launch in May at Stoneham High School, over 20,000 personal finance workbooks have been distributed to teachers in 154 cities and towns across the Commonwealth.

Hi-Fi's innovator, Consumer Affairs Director Beth Lindstrom, characterized the overwhelming response to the program as evidence of the tremendous need for personal finance basics among high school students. "It is imperative that teens understand money and credit management at this critical point in their lives. Developing good credit, consistent savings and smart investments will be the keys that open doors as adults," said Director Lindstrom.

Consumer Advisory: Flood Damaged Cars May Be Headed For Massachusetts

2005-09-29T00:00:00Z

In the aftermath of Hurricanes Katrina and Rita, thousands of flood-damaged cars may be put on the market in Massachusetts and other states. The National Insurance Crime Bureau is building a database of all flood-damaged cars in cooperation with auto insurers to try to prevent this from happening. In the meantime, consumers need to protect themselves. What should consumers do?

Containing Winter's High Heating Costs

2005-09-08T00:00:00Z

State Outlines Steps to Maximize Heating Efficiency, Look for Best Deals

State Consumer Affairs Office Inspecting & Monitoring Gas Prices

2005-09-02T00:00:00Z

Division of Standards Continues Spot-Checks thru Labor Day Weekend

Tales Of Scales And Seafood Sales

2005-08-29T00:00:00Z

Four Seafood Resellers Fined for Overcharging

Ensuring A Smooth Move

2005-08-25T00:00:00Z

Advice to tenants on their rights, landlord responsibilities and choosing a mover

Trouble-Free, Tax-Free Shopping Begins with Understanding Your Rights

2005-08-11T00:00:00Z

State Orders Time Warner To Issue Refunds To Cable Customers In Pittsfield-Area

2005-08-04T00:00:00Z

State Board Acts on Physical Therapist License

2005-06-14T00:00:00Z

Gardner Veterinarian Agrees To License Probation

2005-06-14T00:00:00Z

State Utility Regulator Joins Regional Counterparts In Urging FERC To Reject Or Modify ISO-New England Plan That Could Cost Electricity Customers $13 Billion

2005-06-07T00:00:00Z

Governor Romney Files Auto Insurance Reform Legislation

2005-06-01T00:00:00Z

$150 Million Initial Savings for Good Drivers, Reigns-In Fraud & Non-Medical Costs

Insurance Commissioner Bowler Approves 3% Workers' Compensation Rate Cut

2005-05-19T00:00:00Z

Former East Boston Salon Operators Suspended for 6 Years

2005-05-17T00:00:00Z

Insurance Commissioner Bowler Approves Revisions To Safe Driver Insurance Plan

2005-04-29T00:00:00Z

State Teams With A.I.M. & Utilities To Promote Competitive Electric Contracts

2005-04-20T00:00:00Z

State Board Revokes Veterinarian's License

2005-04-20T00:00:00Z

State Energy Officials & Regional Counterparts Prioritize Ratepayer Impact In FERC's Consideration Of Incentives For New Electric Generation

2005-04-15T00:00:00Z

State Board Disciplines Unlicensed Occupational Therapist

2005-04-08T00:00:00Z

Consumer Affairs Teams With Notaries To Combat Identity Theft

2005-03-29T00:00:00Z

Identity Theft Symposiums Seek to Curtail Crime

2005-03-24T00:00:00Z

Massachusetts Consumers Reap Millions In Refunds

2005-03-22T00:00:00Z

Framingham Veterinarian Surrenders License

2005-03-16T00:00:00Z

State Board Takes Action Against Eight Real Estate Licensees

2005-03-16T00:00:00Z

State Extends Moratorium On Utility Service Shut-Offs

2005-03-11T00:00:00Z

Andover Mental Health Counselor Surrenders License

2005-03-01T00:00:00Z

State Board Disciplines 14 Electricians, Two Technicians

2005-03-01T00:00:00Z

State Board Disciplines Two Home Inspectors

2005-03-01T00:00:00Z

State Inspectors Fan-Out to Ensure Safety and Compliance at Barbershops and Beauty Salons in Eastern MA.

2005-02-24T00:00:00Z

Division Of Energy Resources Issues Report On Renewable Energy

2005-02-15T00:00:00Z

Weston Optometrist Agrees To License Probation

2005-02-11T00:00:00Z

State Moves To Stamp-Out Internet Payday Lending During National Consumer Protection Week

2005-02-09T00:00:00Z

State Investigators Find Violations at Over 70% of Worcester County Optical Businesses

2005-02-08T00:00:00Z

Tewksbury Cosmetologist Agrees to Stayed License Suspension

2005-02-04T00:00:00Z

State Consumer Affairs Office Urges Caution In Pats Fans’ Search for Super Bowl Tickets

2005-01-27T00:00:00Z

Massachusetts Residents Encouraged To "Get Smart" About Insurance Policies

2005-01-24T00:00:00Z

New Nstar Transmission Line Approved By State Siting Board

2005-01-13T00:00:00Z

State Energy Resources Agency Promotes Participation In Free Energy Savings Workshop

2005-01-13T00:00:00Z

"Power Saving Hours" Energy Conservation Can Relieve Demand on Electric Grid During Cold Snaps

2005-01-09T00:00:00Z

Help reduce energy demand during peak usage times (4-8 PM) by following the tips outlined in this press release.

Insurance Commissioner Bowler Finalizes Auto Insurance Reform Of High-Risk Market

2004-12-31T00:00:00Z

Landmark Multi-State Settlement In Effect, National Remedy Grants Claims Review For Thousands

2004-12-21T00:00:00Z

Romney Appoints New Commissioners To DTE

2004-12-20T00:00:00Z

Division Of Insurance Announces 2005 Auto Insurance Rate Decision

2004-12-15T00:00:00Z

State Board Takes Action on 2 Accountant Licensees

2004-12-14T00:00:00Z

Consumer Affairs Holiday Shopping Wrap-Up

2004-12-08T00:00:00Z

Romney Praises Turnaround At Professional Licensing Agency

2004-12-01T00:00:00Z

Multi-State, Federal Settlement Addresses Concerns Regarding Unumprovident Claims Handling

2004-11-22T00:00:00Z

State Board Disciplines Ten Real Estate Agents

2004-10-29T00:00:00Z

State Board Disciplines Five Electricians

2004-10-29T00:00:00Z

Director Lindstrom Launches Home Improvement Contractor Awareness Campaign

2004-09-30T00:00:00Z

State Board Revokes Chiropractor’s License

2004-09-21T00:00:00Z

Consumers Urged to ‘Report not Respond’ to Suspect E-mail Requests

2004-09-20T00:00:00Z

Navigating Heating Oil Price Uncertainty

2004-09-15T00:00:00Z

State Warns Consumers Against Cosmetic Medical Procedures at Beauty Salons

2004-09-08T00:00:00Z

Insurance Commissioner Bowler Rules On Proposed Residual Auto Insurance Market Changes

2004-08-27T00:00:00Z

Insurance commissioner names new appointees

2004-07-23T00:00:00Z

Fall River salon and barber shop violations

2004-07-21T00:00:00Z

Home inspector fined and license placed on probation

2004-07-21T00:00:00Z

Lawrence chiropractor gets suspension, probation

2004-07-19T00:00:00Z

DTE Advises Norvergence Customers To Obtain New Providers

2004-07-16T00:00:00Z

New identity theft law

2004-07-15T00:00:00Z

State Inspectors find violations at 60 percent of Somerville Beauty Salons and Barber Shops

2004-06-30T00:00:00Z

State Board Acts on 3 Psychologists' Licenses

2004-06-15T00:00:00Z

Cashpoint customers warned

2004-05-27T00:00:00Z

Psychologist disciplined

2004-05-26T00:00:00Z

State Consumer Affairs Director Applauds Recent State SJC Ruling on Unwanted Solicitations

2004-05-24T00:00:00Z

State Board Disciplines Four Real Estate Agents

2004-05-21T00:00:00Z

Psychologist Agrees to 6-month Stayed Suspension and 18-month Probation

2004-05-19T00:00:00Z

Division of Standards Surveys 71 Gas Stations

2004-05-10T00:00:00Z