In what has been the biggest housing market collapse since the Great Depression, banks have made a business in collecting and cashing in on foreclosed homes. In a Wells Fargo bank in Charlotte, N.C., “legal process specialists” are expected, if not demanded, to produce ten to eleven affidavit reports a day, reports that bank lenders [...]
Banks set minimum quotas on foreclosure documents, increasing mistakes - TheDCNF
Chicago banker sues bank to win taxpayer payout - TheDC
PNC bank executive given the OK to sue Wells Fargo for not lowering her mortgage payments
Obama promises cheap mortgages - TheDC
Election-year gambit could reduce payments by a few hundred dollars per month, admin says
Wells Fargo lowers conforming loan limits - CNBC
The deadline for ending temporarily higher loan limits at Fannie Mae, Freddie Mac and the FHA is October 1st, but they are effectively ended now
Wells Fargo settles subprime mortgage-abuse case for $85 million - AP
Nation’s largest mortgage lender settles Federal Reserve’s charges for record amount
TheDC Morning: Wall Streeters want what Fannie's having - TheDC
Read TheDC Morning: An unvarnished e-mail summary of what’s really happening in political news
Wells Fargo to pay Citigroup $100M for stealing Wachovia - AP
Wells Fargo settles over their swooping in to snatch up Wachovia from underneath Citigroup in 2008
Higher Debt: Is the student loan industry headed for a meltdown? - TheDC
With no disincentives for lenders, and no escape for the debtor but death, America’s collective student loan debt has grown to $829 billion
Dumb robber hands over ID, gets taken down by mother - Dallas Morning News
Nathan Wayne Pugh pretended to have a bomb in Whataburger bag, seriously bungled every aspect of robbery
JPMorgan Chase easily exceeds forecasts - NYT
Company’s net income rose 76 percent in the last year
U.S. banks: drug lord accomplices - Bloomberg
Wachovia and Bank of America fail to monitor and report suspected money laundering by narcotics traffickers; allow Mexican drug trade to thrive
Podesta brother lobbies for cap-and-trade proponent BP - THE DAILY CALLER
W.H. transition chief John Podesta’s brother Tony makes millions ‘monitoring’ legislation for BP, GM and other large corporations making news
Not all banks spanked by reform - POLITICO
Wall street banks may avoid the fee cuts that larger banks such as Bank of America and JPMorgan Chase are likely to face
Most small businesses hold off on hiring - The Daily Caller
Fifty-two percent of the owners surveyed April 12-16 say it is very unlikely that tax credits for hiring unemployed workers will prompt them to increase staff
Wells Fargo warrants up for auction - Forbes
The Treasury Department will be putting its Wells Fargo warrants up for auction Thursday
Obama stumbled on Wall Street
Do threats of tighter regulations and higher taxes on banks sound like a way to increase lending? President Obama seems to think so
Consumer confidence rises to 57.9 in April - AP
Highest level since September 2008, just as the financial crisis escalated, according to a private research group
Pulitzer Prize winner thwarts robbery with hug - True Crime Report
Pulitzer Prize winning photographer and college professor foils bank robbery, by hugging the robber
Federal government and the link to poverty
The federal government, which claims to be the greatest supporter of those in need, is anything but a friend of the impoverished
Checking in on your bailout investment account
President Obama is now saying that “we’ve recovered most of your money already, but we want all our money back.” Does anyone really know how much money is out and how much is back? Is there money left on the table?
