California Attorney General Rob Bonta and Assemblymember Brian Maienschein, D-San Diego, announced Friday legislation intended to protect victims of predatory businesses in violation of consumer protection laws.
Assembly Bill 1366 would establish a Victims of Consumer Fraud Restitution Fund in the state Treasury paid into with penalties from businesses found in violation of those laws. This differs from the current system, which allows victims to be eligible for restitution after a judgment has been reached, but oftentimes leaves victims without a cent when the businesses collapse or become insolvent.
"When a predatory business takes advantage of a consumer, it's only right that the proceeds gained from illegal conduct should go towards compensating victims rather than remaining in the bank accounts of bad actors," said Maienschein, author of the bill."AB 1366 will ensure that victims can and will receive restitutions for the wrongdoings they endure by crooked businesses on the brink of collapse.
"True justice is not served when victims are left behind," Bonta said Friday morning in San Diego."While our office continues to hold predatory businesses accountable for misconduct, the success feels hollow when we know that the consumers who were defrauded cannot be made whole because the business has no money left to compensate its victims for their losses.
"This legislation would create a mechanism to help compensate victims in such situations. I urge our legislature to join the states that have already implemented this simple and commonsense protection for victims." According to Bonta, attorneys general in some other states — including New York and Arizona — can obtain disgorgement under their consumer protection laws, but this is not the case under California law. Additionally, the federal government has established the Civil Penalty Fund to compensate victims who haven't received full compensation for their harm through the defendant.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Price fixins: Washington attorney general secures $35 million from chicken giants in lawsuitWashington's attorney general has secured $35 million from over a dozen major chicken producers in a wide-ranging price-fixing lawsuit. The combined total was taken from 14 major chicken producers, who were accused of manipulating prices.
Weiterlesen »
Virginia Attorney General Decries 'Crime Explosion' In DCVirginia Attorney General Jason Miyares cited the recent killing of Virginia resident Christy Bautista in a letter to D.C.'s elected leaders.
Weiterlesen »
Attorney General Dave Yost sues contractor accused of cheating homeowners out of $125KAttorney General Dave Yost is suing a home-remodeling company and its owner, accusing them of pocketing more than $125,000 in consumers' money without finishing
Weiterlesen »
Oklahoma attorney general wants to vacate conviction of high-profile death row inmateOklahoma Attorney General Gentner Drummond (R) took a massive step in favor of the state's highest-profile death row inmate, Richard Glossip, urging an appeals court to vacate his murder conviction.
Weiterlesen »
Free speech the next key battleground for abortion rightsThe ACLU is suing the Idaho Attorney General for 'threatening health care providers' over abortion care.
Weiterlesen »