• [re: Brenda Cude]
• Finally, and briefly, note the story of University of GA Professor Brenda Cude. Professor Cude has served for years as one of the NAIC's Funded Consumer Representatives and also on the Board of Directors of the Insurance Marketing Standards Association (IMSA}, an organization established by the life insurance industry following its sales misconduct scandals of the 1980s and 1990s.
  • She is also an active member of the American Council on Consumer Interests, an organization with close ties to both the Consumer Federation of America and Consumers Union.
• Yet when the complete financial services history of the 20th century is written, IMSA will no doubt be irrefutably proven to have been an unmitigated fraud-failing to uphold its core principles and allowing insurers to claim membership without sufficient mandatory auditing and controls (see my August 2010 letter to IMSA's President and note that two months later IMSA announced that they were shutting down.)
  • Previously, in 2008, I had testified to the NY State Department of Insurance about IMSA's defective and fraudulent practice of awarding "Good Housekeeping" seals of approval to insurers with illegal practices.
  • While Professor Cude in her role as an NAIC Funded Consumer Representative can certainly not be held responsible for the terribly diseased NAIC, it would seem that one day she ought to account for her involvement as a Director of the fraudulent IMSA enterprise.
  • Similarly, others who were involved with IMSA, such as one of AARP's Executives, and others who knew or should have known about Professor Cude's misguided involvement with IMSA, could have and should have spoken up because as has famously been noted, "The Road to Auschwitz was paved with indifference."

2011 - Brian Fechtel - New York Life's Fraudulent Claim that its Whole Life Policies Provide Guaranteed Annual Growth, and What the Regulators Didn't Do About It - 12p