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Press Room

For Immediate Release: April 11, 2011

AGs discuss financial fraud and consumer protection during Charlotte Summit

(Charlotte, N.C) --- The National Association of Attorneys General (NAAG) President and North Carolina Attorney General Roy Cooper is hosting the NAAG Presidential Initiative Summit today and tomorrow at the Charlotte Westin Hotel. Sixteen state Attorneys General, members of the financial industry, academia, government, consumer advocacy groups, and other stakeholders will discuss ways to detect and prevent financial scams that sink consumers further into debt and hurt businesses’ growth. The theme is “America’s Financial Recovery: Protecting Consumers While We Rebuild.”

“Crimes and scams related to foreclosure, debt relief, business opportunities, identity theft, and mortgage fraud flourish in hard times, and consumers and legitimate businesses are getting ripped off,” said Attorney General Cooper. “As our economy rebounds, we must work hard to protect working Americans from fraud and unfair financial practices.”

The summit will focus on building an effective and efficient relationship between Attorneys General and the newly-created U.S. Bureau of Consumer Financial Protection (CFPB). Other topics of discussion include financial scams, data sharing, coordination of enforcement of the Dodd-Frank Act, preemption, regulatory practices of financial institutions and other emerging consumer protection issues.

Guest speakers include Elizabeth Warren, Assistant to the President and Special Advisor to the Secretary of the CFPB; Holly Petraeus, Office of Service Member Affairs for the CFPB; Commissioner Julie Brill of the Federal Trade Commission; Bank of America President and CEO Brian Moynihan; and Thomas Hoenig, President of the Federal Reserve Bank of Kansas City.

A report of the discussions that take place at the conference will be compiled and distributed to policymakers and other interested parties.

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The National Association of Attorneys General (NAAG), www.naag.org, was founded in 1907 to help Attorneys General fulfill the responsibilities of their office and to assist in the delivery of high quality legal services to the states and territorial jurisdictions.

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