Four Years After Reaching Deal With Regulators, Six Banks Still Haven’t Fixed Foreclosure Problems

Four Years After Reaching Deal With Regulators, Six Banks Still Haven’t Fixed Foreclosure Problems

Back in 2011, several of the nation’s largest banks entered into a settlement with federal regulators that required the institutions to correct widespread foreclosure abuses that helped to trigger the housing crisis. While the agreement was revised in 2013 to make things a bit easier for the offending banks, regulators today announced that six of the lenders – including JPMorgan Chase and Wells Fargo – still haven’t met requirements and face new restrictions on their mortgage operations. [More]

Surprise! Here’s Your New US Bank Debit Card

Surprise! Here’s Your New US Bank Debit Card

A blank envelope arrived on Amanda’s doorstep. She almost tossed it aside, since it didn’t say “HEY! I’M IMPORTANT!” on it. She happened to feel a plastic card inside, though, so she opened it up. Inside was her new debit card. That’s good, isn’t it? Amanda doesn’t think so. [More]

And Then There Was One: Wells Fargo, U.S. Bank Discontinue Payday Loan Products

And Then There Was One: Wells Fargo, U.S. Bank Discontinue Payday Loan Products

The small victories are adding up in the battle against predatory loans this week. Wells Fargo and U.S. Bank announced they will discontinue high-risk payday lending programs. [More]

(NYCandre)

Banker Accused Of Stealing $2 Million From Elderly Customers — At Two Different Banks

Remember that Wells Fargo employee charged with defrauding a 90-year-old customer out of $10,000? That’s amateur hour compared to the Oakland woman accused of not only stealing around $2 million from bank customers — but doing it at two different banks. [More]

(bikeoid)

Senators Call For An End To Payday Lending By Banks

Four of the nation’s largest banks — Wells Fargo, Fifth Third Bank, U.S. Bank and Regions Bank — are involved in high-interest, short-term loans that may not always be called “payday” loans but might as well be. Thus, a group of five U.S. senators have asked regulators to put a stop to the practice altogether. [More]

L.A. Sues U.S. Bank For Letting Foreclosures Fall Into Disrepair

L.A. Sues U.S. Bank For Letting Foreclosures Fall Into Disrepair

When a lender forecloses on a home, it becomes responsible for keeping the property safe and reasonably kept-up. But officials in Los Angeles has accused U.S. Bank of ignoring hundreds of foreclosures as they fall into disrepair and/or become taken over by squatters and street gangs. [More]