The bill that could change it all is on its to Congress finally having made it out of the House of Representative. Backed by Obama’s administration it is thought that this new regulator commission might be going just a step too far. Only time will tell but as this will create a new active sheriff called...
Posts Tagged ‘ cnn ’
NEWS: Bank of America: $2.2 billion loss
Surprise! Not really. The largest bank in the world taking some of the largest hits just makes sense. Especially after they bought only one of the largest sub-prime servicers this side of the Mississippi (probably either side). Kenny Lewis has the Czar on his back and on the heals of that these numbers come...
NEWS: No 2009 pay for Bank of America CEO Ken Lewis
While a lot of people of hurting it will be nice to see that the lenders who cause this mess are not going to be getting away completely free. As the government’s pay Czar reviews the compensation that is received by the management in the companies that received TARP and other funds from the...
500,000 helped by Obama mortgage rescue; 7 Million foreclosed on.
There is a post on CNN Money today that reflects on the 500,000 homeowners who have found assistance through the Obama plans. As it is great for all the families that found the assistance that they needed, which we applaud them for because of how terrible the banking system is at processing these plans,...
News: Foreclosure plague: No cure yet
CNN posted an article the other day that mentioned the number of foreclosure on the rise. It seems like it was would all be relative as the market is always in a constant upward and downward struggle. It is a nice article though so we feel that it would be great to share with...
Rumor Mill: Confirmed: Wachovia Settlement Checks Are Confirmed!
CNN Reported in December of ’08: In an order From Pennsylvania Federal Court, some Wachovia Customers at this time are may be receiving some checks in the mail because of a conviction where Wachovia was found guilty of telemarketing fraud. “These checks are legitimate and consumers who receive them can safely deposit the check...
Predatory Lending
As an outlet for Reuters, CNN.com quoted ,Shanna Smith, chief executive of the National Fair Housing Alliance, as saying “All the predatory lending that has gone on, all of the pushing of exotic loans on people of color, female-headed households, families with children, people with disabilities — it’s all coming home to roost,”. Smith...