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Federal watchdog sues Md. company over lead paint settlements

Federal watchdog sues Md. company over lead paint settlements

A federal financial oversight agency sued a Maryland-based financial firm Monday, alleging it created an illegal scheme to take advantage of victims of lead paint poisoning who won court-approved settlements.

Access Funding, based in Chevy Chase, came under state and federal scrutiny last year for purchasing lead-paint settlements from victims in Baltimore and elsewhere in exchange for one-time, lump-sum payments that were far less than the long-term financial support they had won in court.

The federal Consumer Financial Protection Bureau filed the lawsuit in U.S. District Court in Baltimore. The agency said the deals violated the Wall Street overhaul approved by Congress in...

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