DEAN TUCCI FILES OPPOSITION MOTION AGAINST CFPB

PALATINE, Ill., Feb. 15, 2025 /PRNewswire/ -- In November of 2020, the CFPB filed a lawsuit against FDATR, Inc., Ken Halverson, and Dean Tucci for allegations that the Federal Telemarketing Sales Rule, 16 C.F.R. Part 310 ("TSR") had been violated.

Dean Tucci started and owned FDATR, Inc. from Dec 2014 through July of 2017 – which was a full-service tax prep, accounting and doc prep firm -- and then sold the company to his business partner, Ken Halverson, in July of 2017. Halverson operated FDATR, Inc. from that time to his sudden death in November of 2020, 2 days after the case was filed.

The CFPB then put together a Motion for Summary Judgement against Tucci personally – because "he was the last man standing" -- with a fine of over $43 million making the claim that every client of FDATR was defrauded – because the company took advance fees as most tax prep and accounting firms do -- and therefore, the CFPB was entitled to millions in fines. However, since the case was filed the CFPB has not produced even one client of FDATR, Inc, which was allegedly defrauded.

Tucci has now filed his own Opposition Motion Against the CFPB and has alleged the following:

CFPB lacks understanding of why the Federal Telemarketing Sales Rule went into effect in 2010 and that the law was for companies that were taking advance fees to settle credit card debt and handling of client monies.

CFPB refuses to acknowledge that a Student Loan Doc Prep company that works with the Department of Education is not settling credit card debt nor are they handling any client monies.

CFPB and their overreaching attempts built their case against FDATR Inc. and Tucci on their opinion of the Federal Telemarketing Sales Rule law and not on what is actually written in the law.

CFPB states on their own website "We're the Consumer Financial Protection Bureau, a U.S. government agency dedicated to making sure you are treated fairly by banks, lenders, and other financial institutions."  FDATR Inc and Dean Tucci were none of those entities and thus the CFPB has no jurisdiction over the defendants.

CFPB has abused its powers by filing a large number of lawsuits against multiple Student Loan Consolidation doc prep companies and private lenders that assisted students out of default. They strong armed these companies to settle quickly for large fines and fees. Their actions made it difficult for students to get their federal student loans out of default.

CFPB is funded by the Federal Reserve. The Federal Reserve funds the Dept of Education. These entities have profited over $1 trillion dollars on the balance sheet in the last 7 years when students stay in default. Student loans are not dischargeable in bankruptcy and even when payments are not made interest accrues.

Tucci has requested the Court dismiss the CFPB's Motion for Summary Judgement through his Opposition Motion. Tucci also requested this case be dismissed with prejudice and the court awards him his reasonable attorney's fees of over $100,000 and other compensatory damages, as well as an award of punitive damages in an amount to be determined by the court to be paid by Plaintiff.

For More Information on this case, contact [email protected] 

SOURCE Dean Tucci