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JPMorgan Sued For Chasing Credit Card Debt It Wasn't Owed

Reuters | Jonathan Stempel | Posted 02.16.2014 | Business

Dec 17 (Reuters) - JPMorgan Chase & Co was sued on Tuesday by Mississippi Attorney General Jim Hood, who accused the largest U.S. bank of violating ...

Whistleblower Lynn Szymoniak, Accused Shyster

Richard Zombeck | Posted 01.23.2014 | Business
Richard Zombeck

Everyone should be pissed off that this happened. The attorneys generals, Szymoniak's attorneys, homeowners, homeowner advocates, and taxpayers should all be pissed off that an attorney took advantage of a client to essentially walk away with $18 million and accept the title of hero.

There Is a New Sheriff in Town and He Is Going to Be a Force to Be Reckoned With

Bill Bartmann | Posted 09.14.2013 | Business
Bill Bartmann

For over a year now, I have been saying in this space that the CFPB and its director, Richard Cordray, were going to grab the consumer collection industry by the seat of their pants, turn it upside down, and give it a good shaking. No one believed me.

Bank of America Whistleblowers Allege Rot at the Core of the Mortgage Industrial Complex

Ray Brescia | Posted 08.20.2013 | Business
Ray Brescia

If this is what reformed behavior looks like, the Justice Department and the state attorneys general who negotiated the agreement may need to go back to the drawing board in their efforts to police foreclosure abuse.

Shahien Nasiripour

Banks May Face Stricter Mortgage Measures After Big Settlement Fail

HuffingtonPost.com | Shahien Nasiripour | Posted 06.20.2013 | Politics

State and federal regulators are weighing whether to impose additional restrictions on the mortgage practices of five of the nation’s largest banks ...

OCC Ya! The Government Agency That Should Fine Itself

Adam Levin | Posted 06.19.2013 | Business
Adam Levin

Let's face it. The biggest bank regulator in the U.S. is an abject failure. Worse, it's costing us oodles of money, and not just from bounced checks.

A Tale of Two Constituencies

Mike Lux | Posted 06.12.2013 | Politics
Mike Lux

Public opinion matters a great deal in the American system of government, just as it does in any democracy. But it sure isn't the only thing that matters, as the following true story demonstrates. It's what I call A Tale of Two Constituencies.

Petition to Audit the Land Record

Richard Zombeck | Posted 06.09.2013 | Business
Richard Zombeck

Land records across the country have been polluted, diluted, laundered and rendered useless by MERS (the Mortgage Electronic Registration System), and Landtegrity.com has posted a petition demanding answers from the White House.

Why Isn't This a Front Page Story Nationwide?

Joel Sucher | Posted 03.02.2013 | Business
Joel Sucher

So time marches on and so do the foreclosures. Justice for homeowners impacted by the fraud is yet to be achieved, and -- if the financial services industry has its way -- the remuneration will be paltry at best.

Housing 2013: What's In, What's Out

Jed Kolko | Posted 02.19.2013 | Business
Jed Kolko

Rising prices encourage new construction, and rising prices encourage some homeowners to sell. The big question for 2013 is whether today's price gains will continue strongly enough to encourage builders to build and homeowners to sell.

Paul Ryan Takes A Page From The Mitt Romney Playbook

The Huffington Post | Jillian Berman | Posted 08.13.2012 | Business

Thing One: Romney-Ryan: After much overhyped anticipation, Mitt Romney announced Rep. Paul Ryan (R-Wis.) as his vice presidential nominee Saturday, a...

Anti-Foreclosure Law 'Has Become A Mockery'

Reuters | Posted 08.27.2012 | Business

* Borrower protection laws hold back recovery, some economists say * Housing slump worse in states with judicial prote...

One Way Forward in Housing: Mortgage Discrimination Cases Begin to Gain Traction

Ray Brescia | Posted 08.11.2012 | Business
Ray Brescia

The DOJ and others pursuing claims of discriminatory mortgage pricing and practices should not rest on their laurels. Doing so aggressively might help bring some stability to what has been a volatile housing market, riddled with fraud and discriminatory practices.

Washington Bureau Hired BofA Executive's Husband To Monitor Big Banks

The Huffington Post | Jillian Berman | Posted 06.05.2012 | Business

For a brief moment in time, the person tasked with overseeing policy supervision of U.S. banks was the husband of a high-level executive at one of tho...

WATCH: The Fed Has Something To Say To Foreclosure Victims

The Huffington Post | Alexander Eichler | Posted 05.24.2012 | Money

To steer homeowners toward a little-used foreclosure review program, the government is harnessing the power of YouTube. The Federal Reserve release...

Mortgage and Securitization Fraud: Where Is the Task Force?

Dean Baker | Posted 07.21.2012 | Business
Dean Baker

It was almost four years ago that Ben Bernanke, Henry Paul Paulson, and Timothy Geithner ran to Congress warning that the end of the world was near. They said the banks were drowning in bad debt and without a massive bailout they would soon be forced into bankruptcy. Congress quickly coughed up the money in the form of $700 billion in TARP loans. The Fed contributed trillions more. Undoubtedly most of the bad debt was due to stupidity, which does not seem to be in short supply on Wall Street despite the high paychecks. But there was more than just stupidity involved here. There was an epidemic of mortgage fraud that was identified by the FBI as early as 2004. And yet, in its first three years, the Obama administration did almost nothing to investigate criminal practices that contributed to the bubble and the subsequent meltdown.

What Bank of America Taught Me About America

Antonio Ennis | Posted 07.07.2012 | Impact
Antonio Ennis

I've learned a lot in my 45 years. I've learned from hustling in the streets of Boston, from more than two decades in the rap game, from being a landlord, a retail store owner, and the father of six daughters. But some of the most important things I know, I learned from Bank of America.

Define "Extraordinary"

George Goehl | Posted 07.07.2012 | Business
George Goehl

We believe protest at the Bank of America meeting this year is not just normal -- it's the only response that makes sense. We don't want to protest Bank of America's shareholder meeting, but we have to, to protect our country from more unchecked corporate greed and abuse.

Let's Risk Destroying the Housing Market and Any Economic Recovery!

Bruce Judson | Posted 07.04.2012 | Business
Bruce Judson

The economic crisis began with the housing crisis, and it will only end when the housing crisis also ends. Unfortunately, the evidence suggests that the Obama administration and Congress have never actually understood this connection.

For Capitalism to Survive, Crime Must Not Pay

Bruce Judson | Posted 06.13.2012 | Business
Bruce Judson

A corporation that knowingly breaks the law will find ways to profit through illegal means that are not available to competitors. As a consequence, the competitive playing field is biased toward the company that does not need to follow the rules.

Zach Carter

Bank Of America Sues Itself

HuffingtonPost.com | Zach Carter | Posted 04.10.2012 | Business

WASHINGTON -- Bank of America is suing itself for foreclosure. "It's crazy," housing data analyst Michael Olenick told HuffPost. "They shouldn't b...

Watchdog To Propose New Rules That Could Save Homes

AP | DEREK KRAVITZ | Posted 06.10.2012 | Business

WASHINGTON — The federal government proposed new rules on Tuesday that will give homeowners more ways to avoid foreclosure and get an accurate a...

Behind Every 'Distressed Asset' Is a Distressed Human Being

Joel Sucher | Posted 05.30.2012 | Politics
Joel Sucher

Shaun Donovan, with his engineering of the robo-signing settlement, has done his best to emulate former President George W. Bush's "mission accomplished" moment, trying to spin the deal as some sort of resolution.

Whistleblower Says Bank Harassing 'The Living Hell' Out Of Her

The Huffington Post | Alexander Eichler | Posted 03.29.2012 | Business

Lynn Szymoniak may have just won $18 million for uncovering massive, systemic foreclosure fraud. But that doesn't mean her troubles are over. Szymo...

Trust, but Verify: Recent Revelations Make the Case for More Responsive, and Responsible, Banking

Ray Brescia | Posted 05.22.2012 | Business
Ray Brescia

Allegations about the culture at Goldman Sachs are just the most recent of a stream of embarrassing revelations about bank practices to have come to light in recent years.