Massachusetts consumer affairs agencies collected over $13.9 million through awards, settlements, refunds and fines in 2012.
The Office of Consumer Affairs and Business Regulation oversees the divisions of banks, insurance, professional licensure, standards, and telecommunications and cable. The recoveries are a result of the agencies’ responses to nearly 57,000 consumer inquiries and complaints on issues including home improvement contractor registration, insurance and banking issues.
The recoveries included: $387,000 in awards and settlements to consumers under a new and used car arbitration program and $361,000 to 26 homeowners in a program that resolves disputes between homeowners and registered contractors.
Money generated through fines and settlements with an agency goes to the state’s General Fund. Settlements, arbitration wins and other payments for consumers go directly to that consumer.
Topics Agencies Massachusetts
Was this article valuable?
Here are more articles you may enjoy.
Meta Loses Insurance for Defense in Major Social Media Addiction Litigation 
Insurify’s Founders Discuss Evolution of Insurance Shopping With AI 
Marine Insurers Cancel War Risk Cover as Iran Conflict Escalates 
3 Big Questions Facing FEMA With Kristi Noem Out 
