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FTC Increases Funeral Rule Violation Penalties

The Federal Trade Commission approved final amendments to Commission Rule 1.98 that adjust the maximum civil penalty dollar amounts for violations of 16 provisions of law the FTC enforces, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The Act directs agencies to implement a “catch-up” inflation adjustment based on a prescribed formula. The new maximum civil penalty amounts are effective August 1, 2016.  August 1, 2016 the penalty for violating the FTC Funeral Rule increases from $16,000 to $40,000 per violation. 

FTC Raises Civil Penalty Maximums to Adjust for Inflation

Civil penalties undergo inflation recalculation

Frerichs Holds Statewide Hearings On Life Insurers That Do Not Pay Death Benefits


First Public Hearing Aug. 17 in Normal, Illinois

SPRINGFIELD-Statewide hearings begin this week to better understand how life insurance companies avoid paying death benefits and what Illinois families can do to prevent themselves from being victimized after the death of a loved one, Illinois State Treasurer Michael Frerichs said today. Since 2011, the Illinois State Treasurer’s office has identified more than $550 million in death benefits that were not paid to grieving families in Illinois. Nationally, $7.4billion has been identified. Frerichs established a task force that includes members of the General Assembly, Citizen Action Illinois, AARP, and the NAACP.

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