Tennessee will participate in the $25 billion agreement with the nation's five largest mortgage servicers, according to Attorney General Bob Cooper. The agreement arises from an investigation into unacceptable nationwide mortgage servicing and foreclosure practices. The servicers participating in this agreement, which was announced today, are Bank of America, J.P. Morgan Chase, Citi, GMAC/Ally Financial, and Wells Fargo.

Once approved by the court, the agreement will provide an estimated $146 million in relief to Tennessee homeowners and addresses future mortgage loan servicing practices ...read the mortgage release or the release in Spanish.

Consumers who have filed complaints against a Nashville man, suspended for practicing law without a license, may be eligible for restitution, Tennessee Attorney General Bob Cooper and Gary Cordell, director of the Division of Consumer Affairs announced today.

Michael H. Sneed of Nashville, who has been found liable for the unauthorized practice of law and violations of the Tennessee Consumer Protection Act, has been ordered by the Davidson County Circuit Court to pay $18,372 to eligible consumers who used his services. The Tennessee Supreme Court ordered Sneed suspended from the practice of law on Feb. 24, 2009 for 18 months. He was later found to have continued representing multiple consumers acting as an attorney during his suspension...read the Michael Sneed release.

Tennessee Attorney General Bob Cooper and 26 other state attorneys general announced a $34.25 million agreement with GE Funding Capital Market Services, Inc. ("GEFCMS") as part of an ongoing nationwide investigation of alleged anticompetitive and fraudulent conduct in the municipal bond derivatives industry.

As part of the multistate agreement, GEFCMS has agreed to pay $30 million in restitution to affected state agencies, municipalities, school districts and not-for-profit entities nationwide that entered into municipal derivative contracts with GEFCMS between 1999 and 2005. In addition, GEFCMS agreed to pay a $1.25 million civil penalty and $3 million in fees and costs of the investigation to the participating states. Tennessee entities will receive approximately $742,776. Eligible Tennessee entities include the Memphis Shelby County Airport Authority, Metropolitan Health and Educational Facilities Board and the Knox County Health Education & Housing Facilities Board...read the GE Funding release.

Tennessee Attorney General Bob Cooper and 26 other attorneys general announced a $58.75 million agreement with Wachovia Bank N.A. and Wells Fargo Bank, N.A. as part of an ongoing nationwide investigation of alleged anticompetitive and fraudulent conduct in the municipal bond derivatives industry.

As part of the multistate agreement, Wachovia has agreed to pay $54.5 million in restitution to affected state agencies, municipalities, school districts and not-for-profit entities nationwide that entered into municipal derivative contracts with Wachovia between 1998 and 2004. In addition, Wachovia agreed to pay a $1.25 million civil penalty and $3 million in fees and costs of the investigation to the participating states. It has not yet been determined how much Tennessee and the other states will receive from the agreement...read the Wachovia release.

Over 4,000 soldiers who financed a purchase from a Tennessee company through Rome Finance Company, Inc., will receive over $2 million in refunds in the coming months.

The State of Tennessee recently concluded its case against Rome Finance in the United States Bankruptcy Court in the Northern District of California. In late 2008, Attorney General Cooper won a judgment against Rome in Montgomery County Circuit Court, with an award specially designated as soldier restitution. Rome filed for bankruptcy protection and a trustee was appointed to operate Rome. The money from this agreement will be added to monies previously received in 2010 through the agreed final judgment in this consumer protection case against North Carolina-based Britlee, Inc., and its owner and operator Stuart L. Jordan...read the Britlee checks release.

Tennessee will immediately begin distributing $300,000 in restitution due eligible consumers following an agreement with a company alleged to have sold fake health insurance, Tennessee Attorney General Bob Cooper and Tennessee Division of Consumer Affairs Director Gary Cordell announced today. The agreement provides hundreds of eligible Tennesseans and consumers throughout the country a combined total of $1.1 million in restitution as well as banning the parties from ever selling health benefits anywhere in the country, and from ever selling health insurance in Tennessee along with other injunctive relief.

Those named in the lawsuit and resulting agreement are Tim Thomas, his wife Keenan Dozier Thomas, and their now-defunct companies, including U.S. Benefits, LLC, and United Benefits of America, LLC. The settlement concludes an action initiated by the Federal Trade Commission (FTC) and the State that alleged that the defendants engaged in a scheme to falsely market minor health benefits and other discount plans as major medical insurance. In August 2010, the FTC and Tennessee successfully obtained a temporary injunction and asset freeze against all defendants. The federal court appointed a Receiver who then gathered the defendants’ personal and corporate assets...read the United Benefits release.

Tennessee Attorney General Bob Cooper and 44 other attorneys general are urging Backpage.com to do more to stop online classified ads promoting human sex trafficking, particularly those that could involve minors.

In a letter to the online classified site's lawyers, the attorneys general said that Backpage.com claims it has strict policies to prevent illegal activity. Yet the chief legal officers of several states have found hundreds of ads on Backpage.com's regional sites that are clearly for illegal services...read the Backpage.com release.