Archive: AG Karl A. Racine Profile picture
May 16, 2019 4 tweets 3 min read Read on X
Payday loans can trap low and middle income borrowers in endless cycles of debt. Today with @NewJerseyOAG, we are leading a group of 25 states in opposing the

Trump admin's effort to eliminate consumer protections from risky and predatory loans: bit.ly/2YqZYUy Image
@NewJerseyOAG According to @pewtrusts, 58% of payday borrowers have trouble meeting their monthly expenses.

They often reborrow to help repay the original loan and can spiral into endless cycles of debt.
The maximum interest rate lenders may charge in #DC is 24%, but some unscrupulous lenders exploit loopholes to offer predatory loans across the country.

This is why the last thing the @CFPB should be doing is rolling back rules designed to #protectconsumers.
The @CFPB's unlawful effort to roll back payday lending protections would harm consumers by:

*Allowing lenders to prey on vulnerable consumers
*Undercutting states’ efforts to protect their residents
*Acting against the CFPB’s mission to protect consumers

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Keep Current with Archive: AG Karl A. Racine

Archive: AG Karl A. Racine Profile picture

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More from @AGKarlRacine

Nov 10, 2022
BREAKING: My office is suing Commanders owner Dan Snyder, the Commanders, NFL Commissioner Roger Goodell, and the NFL for colluding to deceive District residents—the heart of the Commanders’ fanbase—about an investigation into toxic workplace culture.
After public reporting revealed that sexual misconduct, harassment, and misogyny ran rampant for decades at the team, the defendants promised DC residents that the league was going to fix this toxic culture, including by fully cooperating with an independent investigation.
That was all a lie.

Instead, the NFL turned a blind eye to Snyder’s extensive efforts to silence or intimidate witnesses, and the NFL and Commanders entered into a secret agreement that gave Snyder power to veto the release of any results.
Read 6 tweets
Aug 31, 2022
NEW: Today, we’re suing Michael Saylor - a billionaire tech executive who has lived in the District for more than a decade but has never paid any DC income taxes - for tax fraud.
We’re also suing his company, MicroStrategy, for conspiring to help him evade taxes he legally owes on hundreds of millions of dollars he’s earned while living in DC.
It's the 1st lawsuit brought under DC’s recently amended False Claims Act encouraging whistleblowers to report residents who evade our tax laws by misrepresenting their residence. Led by @ChmnMendelson, @councilofdc unanimously updated the law & gave us enforcement authority.
Read 4 tweets
Jul 26, 2022
NEW -> We took action against Wawa, alongside 6 other states, for failing to protect their customers’ personal information & allowing a data breach that compromised close to 44,000 DC residents’ data.
Wawa failed to implement effective data security measures and, as a result, hackers breached their computer network and stole customers’ sensitive payment card information.

In failing to protect customers’ data, Wawa violated DC consumer protection & data breach laws.
Now, we’ve secured nearly $240,000 in penalties to the District.

Additionally, Wawa must implement and maintain data security practices to strengthen its information security program and protect consumers’ personal information.
Read 4 tweets
Jan 29, 2022
There have been some inaccurate assertions made in the past few days about how my office prosecutes crimes that I want to correct. Follow along.
My office prosecutes all violent crimes committed by juveniles where we have strong evidence, as the standard of proof is beyond a reasonable doubt, and where the arrest is constitutional.

Anyone, including a young person, who commits a violent crime should be held accountable.
Accountability is not inconsistent with our efforts to help them get the services and support they need so they are less likely to reoffend, making our communities safer.

To address the increases in violence, DC needs leadership & a clear, consistent, all-hands-on-deck response.
Read 8 tweets
May 25, 2021
BREAKING: Today my office filed an antitrust lawsuit against Amazon for illegally abusing and maintaining its monopoly power by controlling prices across the online retail market and violating DC law.
For years, Amazon has controlled online retail prices through its restrictive contract provisions & policies. Amazon requires third-party sellers to agree that they won’t offer their products anywhere else online – including their own websites – for a lower price than on Amazon.
These agreements also impose an artificially high price floor across the online retail marketplace & ensure high fees charged to third-party sellers by Amazon, as much as 40% of the product price, are incorporated into the price on not only Amazon but also on competing platforms.
Read 6 tweets
Dec 15, 2020
My statement on AG Barr’s resignation⬇️

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Read 4 tweets

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