CFPB toma acción contra Loan Doctor y Edgar Radjabli

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WASHINGTON, D.C. – La Oficina para la Protección Financiera del Consumidor (CFPB por sus siglas en inglés) tomó acciones contra Loan Doctor para resolver su reclamo de que la compañía y su fundador, Edgar Radjabli, violaron la ley al hacerles creer a los consumidores que estaban depositando sus fondos en un producto de ahorros, con retornos garantizados, en un banco comercial. Tanto Loan Doctor, como Radjabli representaron falsamente que los fondos serían usados para generar préstamos para profesionales de la salud, serían mantenidos en cuentas garantizadas o respaldadas por alternativas en efectivo, y ofrecerían retornos con tasas de interés entre 5% y 6.25%. De ser aprobada por la corte, el acuerdo propuesto obligaría a los acusados a reembolsar a los consumidores todos los depósitos hechos, incluyendo los intereses ganados. Los acusados también pagarían una multa civil de dinero, y quedaría prohibido para ellos el participar o asistir a otros en cualquier actividad que involucre tomar depósitos. Radjabli separadamente ha sido también acusado por la “Securities and Exchange Commission”, SEC, o Comisión Nacional de Intercambio de Valores.

“Loan Doctor y su fundador, se enmascararon como un banco tradicional para abrirle cuentas a la gente que estaba buscando algún producto de ahorro que le diera altos rendimientos”, comentó el director de la CFPB Rohit Chopra. “En la realidad, esta empresa y su jefe, estaban usando los fondos de los consumidores para efectuar inversiones riesgosas”, continuó.

“My Loan Doctor”, la cual opera como Loan Doctor, es una compañía de servicios financieros registrada en Delaware, que opera desde West Palm Beach, Florida, y desde la cuidad de New York. Loan Doctor presuntamente ofrece a sus clientes una “Healthcare Finance Savings CD account” o cuenta de certificados de depósitos para el financiamiento de cuidados de salud, la cual, de acuerdo a la compañía, ofrecería “los más altos rendimientos entre los productos de ahorro en todo el país”. Además de ser el fundador de la compañía, Edgar Radjabli, también era representante de Loan Doctor, y el responsable de su gerencia.

La CFPB alega que tanto Loan Doctor, como Radjabli, hicieron varias representaciones de mercadeo falsas, engañosas e inexactas, de la cuenta de Certificado de Depósitos para el Financiamiento de Cuidados de Salud de Loan Doctor. Comenzando en agosto del 2019, Loan Doctor tomó millones de dólares, de al menos 400 individuos quienes abrieron y depositaron dinero en el producto de ahorros engañosamente publicitado por Loan Doctor. Específicamente, Loan Doctor y Radjabli representaron falsamente que:

  • Los depósitos de los clientes generarían préstamos a profesionales de la salud: Loan Doctor y Radjabli les dijeron a los depositantes que, al momento en que se emitiera un préstamo, inmediatamente habría un inversionista esperando para comprarlo. De hecho, Loan Doctor nunca usó los depósitos para emitir préstamos a profesionales de la salud, y nunca se comprometió en algún contrato con un comprador, o inversionista, que comprase el préstamo.
  • Los depósitos de los clientes estarían garantizados: Loan Doctor hizo creer a los consumidores que mientras no fuesen usados para emitir préstamos, los fondos depositados serían mantenidos en una cuenta garantizada por la FDIC (siglas en inglés de la Corporación Federal de Garantía de Depósitos), o en una cuenta respaldada por una “alternativa en efectivo”, o “el equivalente en efectivo”, garantizada por Lloyd’s en Londres. Loan Doctor también declaró mantener una reserva de efectivo en un monto equivalente al monto depositado por sus clientes. En vez de hacer esto, la investigación efectuada por la CFPB encontró que Radjabli colocó los fondos en fondos de inversiones que él controlaba, y en cripto activos, como los de Celsius Network. Los fondos también fueron depositados en valores que estaban siendo transados activamente, o dados en préstamo a través de terceros, a inversionistaes que usaban portafolios individuales de acciones como garantías.
  • Loan Doctor era un banco comercial: Loan Doctor les hizo creer a los clientes que estaban depositando sus fondos en cuentas que eran como las cuentas de ahorros tradicionales, las cuales tienen retornos garantizados. En realidad, Loan Doctor no era un banco comercial, y los fondos de los depositantes fueron invertidos en valores volátiles, o inversiones respaldadas por valores.
  • Las cuentas de Certificados de Depósitos para el Financiamiento de Cuidados de Salud han dejado registro de que pagan altas tasas de interés: Loan Doctor declaró que las cuentas pagaron una tasa de interés entre el 5% y el 6.25%, en los años previos a 2019. En realidad, Loan Doctor no comenzó a tomar depósitos de consumidores, sino hasta agosto del 2019.

Acción de cumplimiento de ley

Bajo la Ley de Protección Financiera del Consumidor, la CFPB tiene la autoridad de tomar acciones contra instituciones que violen las leyes de protección financiera del consumidor, incluyendo cometer actos o usar prácticas injustas, engañosas o abusivas. El acuerdo propuesto, de ser aprobado por la corte, exigiría a Loan Doctor y Radjabli que:

  • Reembolse aproximadamente $19 millones a alrededor de 400 depositantes: Los acusados tendrían que devolver el dinero que cada persona afectada, haya depositado en la cuenta de Certificado de Depósitos de Alto Rendimiento de Loan Doctor, y consistentemente, incluir los términos publicitados del producto, léase, el capital junto a una tasa de interés promedio de rendimiento del 6% por año.
  • Detenga su participación en actividades que involucren la toma de depósitos: Los acusados estarían permanentemente excluidos de participar o de asistir a otros, en cualquier actividad que involucre la toma de depósitos.
  • Pague una multa de $391,530: La orden obligaría a los acusados a pagarle a la CFPB una multa civil en dinero por el monto de $391,530. Una porción de la misma, $241,530, será devuelta dado que los acusados ya pagaron ese monto en multas a la SEC, por causa de una acción similar impuesta por esa agencia. El restante será depositado en el fondo para el alivio de víctimas (en inglés) de la CFPB.

Lea la propuesta de orden de hoy (en inglés).

Los consumidores pueden enviar quejas en la página de la CFPB, o llamando al (855) 411-CFPB (2372).

Aquellos empleados que crean que las compañías donde trabajan han violado leyes de protección financiera al consumidor pueden enviar la información que tengan a la dirección whistleblower@cfpb.gov.

###

La Oficina para la Protección Financiera del Consumidor es una agencia del siglo 21 que implementa y hace cumplir las leyes federales en materia financiera, y que se asegura de los mercados de productos financieros sean justos, transparentes y competitivos. Para encontrar más información visite consumerfinance.gov/es.

Official news published at https://www.consumerfinance.gov/about-us/newsroom/la-cfpb-toma-acciones-por-19-millones-contra-loan-doctor-y-edgar-radjabli-por-ofrecer-falsas-cuentas-bancarias-de-alto-rendimiento/

Images courtesy of PixaBay

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New Children’s Picture Book Addresses Bullying, Body Image, Weight-Shaming and Self-Esteem, Opening Opportunities for Important Conversations Between Kids and Adults

'Chubby the Bear’s Big Choice,' by Author Daryl R. McCullough and Illustrated by Maryanne Smith, Sets Its Story Among the Enchanting California Redwoods, Where a Young Bear Fends Off Bullies and Self-Doubt and Regains Self-Esteem and Acceptance

New Children’s Picture Book Addresses Bullying, Body Image, Weight-Shaming and Self-Esteem, Opening Opportunities for Important Conversations Between Kids and Adults
'Chubby the Bear's Big Choice'

Author Daryl R. McCullough?s second book, 'Chubby the Bear?s Big Choice,' is set in a California redwood forest and tells the story of a sensitive, young bear struggling with bullies and his self-esteem issues.

Author Daryl R. McCullough’s second book, “Chubby the Bear’s Big Choice,” is set in a California redwood forest and tells the story of a sensitive, young bear struggling with bullies and self-esteem issues. This tender new book offers children, parents, and others of all ages an engaging story with several timely lessons on bullying, body image, weight-shaming, and self-esteem to be shared and discussed. Parents and children’s therapists have already heralded the book as an essential tool on the subject matter. Order now at Amazon, Barnes & NobleTarget or Archway Publishing.

Chubby is a fitting follow-up to McCullough’s award-winning first book “The Story of Tree and Cloud” — 1st Place, Pen Craft Awards; Finalist/5-Stars, “Reader’s Choice Book Awards”; 1st Place, “Firebird Awards”; and 3rd Place, “Best Children’s Book" and "Best Illustrated & Picture Book," Spring 2022, Outstanding Creator Awards. “Tree and Cloud” is a story about loss and managing grief, also set among California’s natural beauty, starring a California live oak tree named Folie and her new friend Puddle. “Chubby the Bear’s Big Choice” is similarly illustrated — not as a cartoon, but in a pure and naturalist style — by McCullough’s 80-year-old aunt Maryanne Smith, an acclaimed nature artist from Pennsylvania. 

“I grew up a chubby child who was bullied and weight-shamed by my peers and even by teachers and staff in grade school,” McCullough said. “I hope that by sharing this story, any child who might be dealing with these issues and feelings can find the strength to talk about it with their parents and learn self-care. 

“Of course, I also hope the story might thwart a bully or two, providing a teachable moment for them that our individuality is powerful, and compassion is paramount in any friendship,” McCullough said.

The story follows its hero, Chubby, a sensitive young bear cub with a rare talent for befriending honeybees and perhaps enjoying too much of their honey. Bullied by other bear cubs in the forest, Chubby finds solace by retreating up in the air, high in the branches of the redwood trees. One day, Chubby’s mood gets lifted by his forest friends — a sweet raccoon and a wise beaver — and Chubby embarks on a journey to reclaim his self-esteem, choosing to teach the other cubs a lesson along the way. Ultimately, Chubby takes the high road and shows others he is emotionally mature enough to stand up for himself while showcasing his strengths in a thrilling culmination of the tale, which ends happily for all.

Available now, the book invites readers of all ages to embark on a powerful journey of self-discovery and empathy and helps foster essential conversations and empower the next generation. 

“This magical story touched my heart and reminded me how, as a mother of two fabulous daughters, I always had my eye on bullying, particularly when it came to body shaming. Bullies teach us all how not to behave! Conversely, I taught my girls that staying connected with their bodies and loving and sharing their unique gifts with others were some of the healthiest ways to care for themselves and live fulfilled lives. Life is indeed a gift, so like Chubby, let’s all choose love, acceptance, and kindness!” — Melora Hardin, Emmy-nominated star (“The Office,” “Transparent,” “Dancing with the Stars,” “Monk”)

“Chubby the Bear’s Big Choice” by Daryl McCullough 
ISBN: 9781665749640 (Softcover); 9781665749664 (Hardcover); 9781665749657 (Ebook)

About the Author

Daryl McCullough is a professional writer and marketing communications executive who loves creative expression. He lives and works in the Los Angeles area with his husband George Griffin; together, they have a marketing communications and social media business, McGriffin Media. He is formerly CEO and now Chair Emeritus of Citizen Relations, a global brand marketing firm. The family adores their dog, Ferdinand, named after another delightful book. 

About the Illustrator

Maryanne Smith is a talented 80-year-old artist. She has designed and painted many high-end wallpaper designs for the premier York Wallcoverings. She has sold many works of art drawn from nature, and “Chubby the Bear’s Big Choice” is her follow-up to “The Story of Tree and Cloud.” She is from York County, Pennsylvania. Prints of images from each book are available for purchase.

Contact Information:
Melissa Penn
melissa@mielpr.com
323-605-3361


Original Source: New Children’s Picture Book Addresses Bullying, Body Image, Weight-Shaming and Self-Esteem, Opening Opportunities for Important Conversations Between Kids and Adults

Sandra Day O’Connor Institute Mourns Passing of Founder

Sandra Day O’Connor Institute Mourns Passing of Founder
In Memoriam

Honoring the life and legacy of Justice Sandra Day O'Connor

The namesake organization founded by the first woman appointed to the United States Supreme Court is mourning the loss of Justice Sandra Day O’Connor.

“No words can describe the profound loss of Justice Sandra Day O’Connor. The organization she founded remains resolute and will redouble our efforts to continue her lifetime work and extraordinary legacy,” said Gay Firestone Wray, Board of Directors Co-Chair.

The Institute will carry on its mission to further the distinguished legacy and lifetime work of Justice O’Connor to advance American democracy through civil discourse, civic engagement, and civics education.

“From our organization’s founding in 2009 following her retirement from the Supreme Court, Justice O’Connor led our organization with vision and intellect, and she exemplified our nation’s ideals,” said Sarah Suggs, President and CEO. “We remain steadfast in our commitment to continue her work and dedication to our great nation.”

Sandra Day was born on March 26, 1930, in El Paso, Texas. She spent much of her younger years on her family’s 160,000-acre Lazy B ranch on the Arizona-New Mexico border. At 16 she went to Stanford University for college, graduating magna cum laude with a degree in economics. She stayed for law school. Day graduated and, six months later, married John O’Connor, the love of her life. They eventually moved to Phoenix, where Sandra Day O’Connor began her rapid professional rise, which included holding positions as assistant attorney general of Arizona, majority leader of the Arizona State Senate, and judge on the Arizona Court of Appeals. She also found time to raise three sons—Scott, Brian, and Jay—and make every recipe in Julia Child’s Mastering the Art of French Cooking.

On August 19, 1981, President Ronald Reagan nominated Sandra Day O’Connor to the Supreme Court; on September 21 she was confirmed by the U.S. Senate with a vote of 99-0.  

Her career on the Court was historic. Justice O’Connor will be remembered not only for being the first female on the Court, or for her clear-eyed judicial reasoning and writings and major decisions, but also for her insistence on civility, her penchant for bringing people together to solve problems, whether in Washington, D.C. or over tacos and beer in her Arizona dining room.

“She overcame obstacles with quiet skill and determination and, in the process, inspired and continues to inspire countless others,” said Institute Board of Directors Co-Chair Matt Feeney.

We will miss you, Justice O’Connor.  

About the Sandra Day O’Connor Institute for American Democracy
Founded in 2009 by retired Supreme Court Justice Sandra Day O’Connor, the O’Connor Institute, a nonprofit, nonpartisan 501(c)(3), continues her distinguished legacy and lifetime work to advance American democracy through multigenerational civil discourse, civic engagement and civics education. Visit www.OConnorInstitute.org for more information.

Contact Information:
Heather Schader
COO
hschader@oconnorinstitute.org
602-730-3300 x8


Original Source: Sandra Day O’Connor Institute Mourns Passing of Founder
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