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Federal watchdog sues firm over lead paint settlements

Posted at 11:34 AM, Nov 22, 2016
and last updated 2016-11-22 11:35:55-05

BALTIMORE (AP) - The federal Consumer Financial Protection Bureau is suing a Maryland company over what the agency says was an illegal scheme targeting victims of lead-paint poisoning.

The watchdog agency filed the complaint Monday in U.S. District Court in Baltimore. It seeks unspecified damages and civil penalties from Chevy Chase-based Access Funding, a successor company, three executives and a Rockville attorney who worked with the firm.

Defense attorney Charles Sims declined to comment Tuesday on behalf of the companies and two executives. Lawyers for the other defendants did not immediately return calls.

The agency says the company deceived people into signing away future settlement payments in exchange for significantly lower lump sums.

The Maryland Attorney General's Office filed a similar lawsuit in state court in May, alleging Maryland Consumer Protection Act violations.

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