Funeral home directors allege, the state comptroller’s office, which regulates the pre-need funeral industry, kept the burgeoning financial crisis under wraps. By the time the truth emerged, it was too late to stave off losses that might now exceed $100 million, say funeral directors who are suing the Illinois Funeral Directors Association and others.
“Even state regulators who took on the responsibility for monitoring the pre-need trust failed to protect plaintiffs and other pre-need trust depositors,” funeral directors say in court documents filed Friday. “Indeed, when questioned by funeral directors on …