Predatory Lending

Wells Fargo Pays Big Time To Settle Discriminatory Lending Claims

Reuters | Posted 05.31.2012

Read More: Foreclosures, Video, Home Renovation, Foreclosure Crisis, Predatory Lending, Bv-Politics, Discriminatory Lending, Wells Fargo, Memphis, Reuters, Justice Department, Business News

* City of Memphis had accused Wells of discriminatory lending * Bank has denied allegations, citing commitment to responsible lending...

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Do You Think It's Fair...

Brad Lander | Posted 05.17.2012

Read More: Credit, Predatory Lending, Responsible Banking Act, Brooklyn, Credit Rating Agencies, Discrimination, Employment Discrimination, New York City, New York City Council Progressive Caucus, Video, New York News
Brad Lander

Many employers in New York City and across the country routinely use credit reports to discriminate against job applicants with poor credit histories. This puts people in a cruel Catch-22.

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Catherine New

High Card Fees Didn't Even Help Banks, Report Finds

HuffingtonPost.com | Catherine New | Posted 05.10.2012

Read More: Mastercard, Prepaid Debit Card, High Fees, Predatory Lending, Visa, Consumer Protections, Lending, Banks, Consumers, Credit Cards, Hidden Fees, Credit Card Fees, Money News

Outrageous credit card fees are not only bad for consumers; they're actually bad for business. That's the somewhat surprising conclusion of a new r...

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Church Burns Credit Card Offers In Protest Of Predatory Lending

The Huffington Post | Harry Bradford | Posted 04.24.2012

Read More: Interest Rates, Debt, Video, Predatory Lending, Countrywide Financial, First Baptist Church of Lincoln Gardens, Cnn, Payday Loans, Discrimination, Credit Card Debt, Credit Cards, Housing Crisis, Rev. DeForest B. Soaries Jr., Business News

Sometimes, more than incense and candles are burned at Church. Last Sunday, members of the First Baptist Church of Lincoln Gardens in New Jersey ga...

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Rent-To-Own Industry, Long Criticized For Preying On Military, Tries A Different Tactic

The Huffington Post | Alice Hines | Posted 04.20.2012

Read More: Department of Defense, Predatory Lending, National Consumer Law Center, Rent to Own, Rent to Own Military, Aaron's, Joining Forces, Rent a Center, Business News

Rent-to-own furniture stores, once branded as "predatory lenders" by the Department of Defense, are now pledging to hire veterans returning from duty....

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STOP! San Francisco's Board of Supervisors Calls To End Foreclosures

Aaron Sankin | Posted 04.11.2012

Read More: Foreclosures, John Avalos Foreclosures, Housing Crisis San Francisco, John Avalos San Francisco, San Francisco Foreclosures, Predatory Lending, Mortgage Crisis San Francisco, San Francisco Supervisors Foreclosures, Home Foreclosures, Housing Crisis, Underwater Mortgages, Mortgage Crisis, Video, San Francisco News

In a unanimous 11-0 vote on Tuesday afternoon, the San Francisco Board of Supervisors passed an official resolution calling for a moratorium on all fo...

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Black Families Intensely More Likely To Be Homeless, Study Says

The Huffington Post | Alexander Eichler | Posted 03.06.2012

Read More: Foreclosure Crisis, Earning Gap, Black Unemployment, Hispanics, Black Homelessness, Wealth Gap, Video, Black Foreclosure, Unemployment, Subprime Mortgages, Predatory Lending, Homelessness, Homeless Shelters, Homeless, Employment Gap, Unemployment Gap, Homeless Gap, Homeless Crisis, Business News

America's homeless crisis is also a crisis of color. Black families were seven times more likely than white families to stay in homeless shelters i...

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Hells Angels Ex-President Sentenced Over Mortgage Fraud

The Huffington Post | Harry Bradford | Posted 01.20.2012

Read More: Video, Housing Market, Foreclosure Crisis, Predatory Lending, Mortgage, Taylor Bean & Whitaker, Robo-Signing, Hells Angels, Jpmorgan, Lee Farkas, Mortgage Fraud, Bank of America, Mortgage Crisis, Business News

It's not just banks and lenders that can be accused of mortgage fraud. The former president of the Hells Angels Sonoma Chapter, Raymond "Ray Ray" ...

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President's Recess Appointment of Cordray Gives Watchdog Teeth It Needs

Ed Mierzwinski | Posted 03.09.2012

Read More: Americans for Financial Reform, Predatory Lending, Consumer Financial Protection Bureau, Wall Street Reform, Rich Cordray, Payday Loans, Cfpb, U.S. PIRG, Student Loans, Consumer Protection, Business News
Ed Mierzwinski

Kudos to President Obama for standing up for consumers this week by making a recess appointment of Richard Cordray to head the new Consumer Financial Protection Bureau.

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Eyes On Colo. As Tribes Take Over Predatory Lending

AP | By MATT VOLZ | Posted 12.27.2011

Read More: Predatory Lending, The Chippewa Cree Tribe, Plain Green Loans, Predatory Lending Practices, Payday Loans, Native American Lenders Alliance, Indian Reservation Loan, Indian Reservation Payday Loans, Internet Payday Loans, Video, Business News

HELENA, Mont. -- An Indian reservation in the heart of Montana's farm country may seem an unlikely place to borrow a quick $600, but the Chippewa Cree...

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The Power of Social Networks to Break the Cycle of Poverty

Maurice Lim Miller | Posted 02.12.2012

Read More: Family Independence Initiative, Predatory Lending, Poverty, Social Networking, Economic Mobility, San Francisco Impact, Low-Income Communities, San Francisco News
Maurice Lim Miller

Throughout U.S. history, communities of poor people have left poverty. But none of these successes look like the public and philanthropic approaches we have relied on, nor the gravity-defying "up by your boot-straps" proposition.

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The Bank Merger From Hell (or, What's Preying on Your Wallet?)

Preeti Vissa | Posted 12.25.2011

Read More: Banks, Credit Cards, Predatory Lending, Capital One, Too Big to Fail, Mergers, Capital One Merger, Capital One ING, Capital One ING Direct, Business News
Preeti Vissa

As public anger at Wall Street greed boils over in the form of protests spreading across the nation, the Federal Reserve Board is poised to allow creation of yet another "too big to fail" bank.

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Richard Cordray: A Champion for Minority Communities

Wade Henderson, Esq. | Posted 12.06.2011

Read More: Richard Cordray, Elizabeth Warren, Predatory Lending, Consumer Financial Protection Bureau, African Americans, Subprime Mortgage Crisis, Cfpb, Regulation, Black Voices News
Wade Henderson, Esq.

African Americans have long been targets of financial predators. The foreclosure crisis is still alive and well in communities of color, who are now on the wrong side of the largest wealth gap ever recorded.

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JPMorgan, Bank of America, Wells Fargo Accused Of Overcharging Military Veterans

The Huffington Post | Alexander Eichler | Posted 12.05.2011

Read More: Department of Veterans Affairs, Veterans Affairs, Wells Fargo, Bank of America, Bofa, Mortgage Refinancing, Veterans, PNC Bank, JPMorgan Chase, Mortgages, Video, Predatory Lending, Military, Unemployment, Homelessness, Homeless Veterans, Jpmorgan, Refinancing, Foreclosure, Business News

In what is only the latest instance of questionable mortgage practices coming to light, a new lawsuit claims that 13 banks and mortgage companies -- i...

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Consumers Be Damned: Senator Shelby, Captain Queeg and the Politics of No

Adam Levin | Posted 11.15.2011

Read More: Richard Cordray, Elizabeth Warren, Predatory Lending, Consumer Financial Protection Bureau, Consumer Financial Protection Agency, The Caine Mutiny, Cfpb, Filibuster, Federal Regulators, Richard Shelby, Consumer Protection, Cordray Hearing, Politics News
Adam Levin

Last week's hearing on the nomination of Richard Cordray to lead the Consumer Financial Protection Bureau featured prepared speeches that were utterly without sound and fury but still managed to do a huge disservice to American consumers.

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Resolute Brooklyn Grandmother Still Hoping For Deal On Eviction

Patch | Posted 10.28.2011

Read More: Mary Ward, Predatory Lending, Subprime Mortgages, Third World America, Bed-Study Mary Ward, Brooklyn Mary Ward, Eviction, Housing Crisis, New York News

A few dozen neighbors and housing advocates over the weekend traded shifts in and around the Bedford-Stuyvesant home of Ms. Mary Ward, a reported vict...

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Blacks and Latinos Will Suffer When the Student Debt Bubble Bursts

David A. Love | Posted 10.28.2011

Read More: College Students, Foreclosure Crisis, Predatory Lending, Student Debt, Student Loans, Student Loan Defaults, For-Profit Colleges, Average Student Debt, Student Debt Stories, Minority Student Debt, Student Debt Recession, Black Voices News
David A. Love

There is every indication that the bursting of the student debt bubble, like the housing bubble before it, is imminent. And when it happens, it will send shockwaves throughout the financial markets. People of color will be especially vulnerable.

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PHOTOS: Bed-Stuy Residents Hold Eviction Blockade For Neighbor

The Huffington Post | C. Zawadi Morris and Cleon Alert | Posted 10.19.2011

Read More: Mary Ward Eviction, Mary Ward, Predatory Lending, Ny News, Eviction, NY Real Estate, Eviction Blockade, Patch, New York News

It was a no-show this morning by New York City Marshals at the home of Bed-Stuy resident Ms. Mary Ward, a victim of a predatory lending scheme, as mor...

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It Must Be Nice to Be Gretchen Morgenson

Jim Randel | Posted 10.01.2011

Read More: Mortgage Crisis, Financial Crisis, Economic Recovery, Housing Market, Predatory Lending, Real Estate, Business News
Jim Randel

Ms. Morgenson, one of the New York Times' Sunday business writers, sees the world in black and white. Apparently she does not believe in hues. Her ...

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Banks Increasingly Use Payday Loans Despite Crackdown On Predatory Lending

The Huffington Post | Alexander Eichler | Posted 09.21.2011

Read More: Interest Rates, Payday Lending, Predatory Lending, Social Security, Payday Lenders, Lending, Consumer Financial Protection Bureau, Wells Fargo, Loans, Center for Responsible Lending, Banks, Payday Loans, Checking Account Advance, Direct Deposit Advance, Business News

Two years after the recession officially ended and one year after the creation of a landmark financial law meant to prevent another financial crisis, ...

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Consumers and Lenders Both Better Off With Fully Functioning CFPB

Dory Rand | Posted 09.20.2011

Read More: Richard Cordray, Predatory Lending, Consumer Financial Protection Bureau, Financial Reform, Consumer Financial Protection Agency, Cfpb, Financial Crisis, Financial Regulation, Business News
Dory Rand

I tend to be a "glass half full" optimist, so I'm pretty happy about the launch of the Consumer Financial Protection Bureau. The "half empty" part that tempers my celebration is the fact that the president delayed his nomination and passed over Elizabeth Warren.

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Albany Considering Handing Check Cashers Blank Check for Predatory Lending

Jonathan B. Mintz | Posted 09.17.2011

Read More: State of the City, Banks, Move Your Money, Michael Bloomberg, Jonathan Mintz, Financial Reform, Department of Consumer Affairs, Payday Lending, Banking, New York City, Payday Loans, Predatory Lending, Consumer Protection, Business News, Poverty, moveyourmoney.info, Check Cashers, New York News, New York News
Jonathan B. Mintz

A very dangerous bill has made alarming progress in Albany the last few legislative sessions and I fear more of the same in the next session.

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Bankruptcy Is the Cost of the Way the Credit Card Industry Does Business

Richard Gaudreau | Posted 09.12.2011

Read More: College Students, Debt, Credit Cards, Credit Counseling, Bankruptcy, Chapter 13, Predatory Lending, Business News
Richard Gaudreau

One newspaper article in 1997 told me all I needed to know about the business model for the credit card industry. Beneficial National Bank, the cred...

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Zach Carter

Payday Loan Kingpin Praises Elizabeth Warren

HuffingtonPost.com | Zach Carter | Posted 07.10.2011

Read More: Payday Lending, Elizabeth Warren, Poverty, Fdic, Dodd-Frank, Economy, Financial Reform, Wall Street Reform, Payday Loans, Overdrafts, Cosumer-Financial-Protection-Agency, Recession, Predatory Lending, Wall Street, Cfpb, Advance America, Banks, Overdraft Fees, Pew Charitable Trusts, Billy Webster, Bureau of Consumer Financial Protection, Business News

This article has been updated WASHINGTON -- The Chairman of the nation's largest payday lending outifit is making the rounds in the nation's capita...

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Predatory Tactics Still Plague Auto Loans

iWatch News | David Heath | Posted 06.12.2011

Read More: Auto Loans, Elizabeth Warren, Predatory Lending, Consumer Financial Protection Bureau, Cfpb, Financial Crisis, Hidden Fees, Consumer Protection, High Interest Rates, Business News

After the financial crisis exposed the devastation caused by predatory lending, state and federal authorities vowed to protect consumers from practice...

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