Consumer Financial Protection Bureau Finds Student, Mortgage Lenders Have...
The private student loan industry smells a lot like the subprime mortgage industry: Dead ends, runarounds and few live customer service representatives to speak with. The same tactics that mortgage...
View ArticleStudent loan mimics subprime mortgage industry
For many months, writers, commentators, economists and activists have argued that the student loan industry looks all too much like the subprime mortgage industry did on the brink of its collapse. On...
View ArticleAnthony Randazzo on Massachusetts’ Awful New Foreclosure Law
On November 1, 2012, a little talked-about Massachusetts law will go into effect that gives judges in the Bay State the power to determine whether a bank can foreclose on a home or must modify the...
View ArticleJohn Geanakoplos Calls Out Obama Administration’s Foreclosure ‘Mistake’
Yale University economist John Geanakoplos said Thursday the failure of President Barack Obama's administration to stem the foreclosure crisis has stymied efforts to restart the economy."I think that's...
View ArticleCongress on the hunt for student debtors
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View ArticleUS banks pay billions to settle mortgage mess
http://www.youtube.com/v/Xg4JS9tjTxE?version=3&f=videos&app=youtube_gdata From: US banks pay billions to settle mortgage mess
View ArticleInsiders reveal deep flaws with foreclosure review project
Last week Salon reported that 10 major banks, including Bank of America, Wells Fargo and JPMorgan Chase, agreed to pay a settlement of $3.3 billion in cash to 3.8 million mortgage borrowers who were...
View ArticleHSBC to pay $249 million fine for US mortgage abuse
British bank HSBC has agreed to pay $249 million in compensation to home-loan borrowers hurt in the massive US mortgage and foreclosure scandal, US officials said Friday. The Federal Reserve and the...
View ArticleMaxine Waters Urges Congress To Investigate Foreclosure Settlement
The top Democrat on the House Financial Services Committee called Tuesday for Congress to "immediately" hold a hearing to investigate a controversial $8.5 billion foreclosure abuse settlement reached...
View ArticleWealthiest US colleges suing students over default loans
(Reuters / Kevin Lamarque)Graduate student borrowers are defaulting on almost US$1 billion in federal loans that were given out to the poor. US colleges such as Yale, Penn State and George Washington...
View ArticleCongress Asks Obama To Appoint Permanent FHFA Leader To Help Underwater...
Members of the House of Representatives urged Obama Thursday to appoint a permanent leader of the Federal Housing Finance Agency (FHFA) who will support aggressive steps to help struggling homeowners...
View ArticleThe Second-Mortgage Shell Game
IN January, federal regulators announced an $8.5 billion agreement with 10 mortgage servicers to settle claims of foreclosure abuses, including bungled loan modifications and the wrongful evictions of...
View ArticleThe federal government’s enormous rebuilding gamble
This story is being co-published with New York public radio’s WNYC.If Staten Island’s Great Kills Marina Café is able to reopen this spring after Sandy ripped apart its interior – blowing out windows...
View ArticleCyprus lifts the curtain
They failed to understand how European leaders, morespecifically the Germans, currently calling many of the shots inBrussels and Frankfurt, could be so politically reckless,economically ignorant, and...
View ArticleGovernment profits on student debt
Despite the havoc a generation of heavily indebted young people promises to wreak on the economy, commentators on the student debt crisis have for sometime pointed out that the federal government has...
View ArticleGovernment foreclosure relief brings homeowners only $300 to $500
By Paul Kiel, ProPublica The government’s largest effort to compensate victims of the banks’ foreclosure practices is finally sputtering to an end. But for most of those eligible 2013 nearly three...
View ArticleBanks probed for peddling client names
Several Swedish banks are suspected of passing on the names of customers who have been denied a mortgage to other lenders who offer higher interest rates to high-risk borrowers. … Read More
View Article‘Dinosaurs of financial services’: UK banks accused of irresponsible lending
“Banks risk becoming the dinosaurs of financial services, outstripped by new lenders who are quick to meet the demand for immediate credit,” Citizens Advice Chief Executive Gillian Guy has warned.She...
View ArticleCalifornia Sues JP Morgan for Fraudulent and Criminal Debt-Collection Practices
A lawsuit alleges that Chase engaged in widespread, illegal robo-signing, among other unlawful practices, to commit debt-collection abuses against approximately 100,000 California credit card borrowers...
View ArticleUK hires PIs to track down $50mn in non-resident grad debts
Officials warned they are ready to take the graduates to court if they do not repay the loans."With British students paying more in tuition than ever before, many people will not understand how it is...
View ArticleShut Them Down! – Payday Loan Companies Are Making Billions Preying On The...
The payday loan companies know exactly who to target. They have set up thousands of shops in the poorest communities all over the nation over the last several decades. Each year, approximately 12...
View ArticleUsury illusion: UK borrowers turn to payday loans despite govt crackdown
Last year, stretched budgets meant that Britons took out 2 billion pounds worth of short-term loans. It is a burgeoning industry, but it has taken hold quickly leaving government regulation to catch...
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