Florida homeowners catch a break in courts

By Alison Fitzgerald

The state Supreme Court revisited foreclosure court procedures after a Center report.

Excerpts from this story referencing "Center for Public Integrity":

"… ts. “I’m going to wave my judicial wand and they are all gone.” The Center for Public Integrity reported earlier this year that Florida’s legislature and Supreme Court …"

Investigating Florida's parallel legal system for foreclosures

By Alison Fitzgerald and Sarah Whitmire

A Q&A with Senior Reporter Alison Fitzgerald on her most recent investigation into Sunshine State foreclosures.

Excerpts from this story referencing "judge":

"… closure reporting. …"

"… they are now fighting not only banks, but also the state. When a court or judge tries to move a case forward, they are by default working on behalf of the …"

"… bit skeptical about what I was hearing from the defense lawyers about how judges were pushing cases through the system. However, after spending two days s …"

"… t foreclosure courtrooms in two different counties, I was convinced. I saw judge after judge ruling on case after case with little more than a glance at th …"

Race-car driver's payday lending business 'deceived borrowers'

By David Heath

AMG Services, a Kansas firm started by race-car driver Scott Tucker, may be ordered to repay tens of millions of dollars to borrowers.

Excerpts from this story referencing "AMG Services":

"… ssional race-car driver, started the online lending business, now known as AMG Services of Overland Park, Kan. Tucker turned to three Indian tribes in Oklahoma an …"

"… on or over the Internet. However, the FTC in 2012 filed a lawsuit against AMG Services, Tucker and others arguing that tribal sovereign immunity doesn’t apply …"

"… y sided with the FTC on that point. On May 28, Navarro ruled further that AMG Services violated the Truth-in-Lending Act by misleading borrowers about the intere …"

"… te the amount they can afford to pay down to the dollar.” Attorneys for AMG Services did not respond to requests for comment. …"

Tribal payday lender can't sidestep consumer laws, court rules

By David Heath

A ruling by a federal judge represents a huge blow to a business run by Scott Tucker, who has used his earnings to finance a racing team.

Excerpts from this story referencing "Federal Trade Commission":

"… ent in a business called AMG Services in a series of stories in 2011. The Federal Trade Commission is suing Tucker, alleging that he was making loans over the Internet using …"

Debt collectors go after service members despite protections

By Daniel Wagner

Soldiers and sailors are being threatened by debt collectors to pay up on ttheir debts illegally, report says.

Excerpts from this story referencing "Debt":

"… families through the agency’s consumer complaint portal, Petraeus said. …"

Tea party operative likely behind mysterious web blitz

By Daniel Wagner

The campaign against government crackdown on online payday lenders is likely created by a consultant to Sen. Ted Cruz.

The mysterious online war against a payday lending crackdown

By Daniel Wagner

Anonymous group called "Stop the Choke" says Obama crackdown on illegal online payments is "destroying the free market."

Former subprime executive making risky loans again

By Daniel Wagner

Andy Pollock, who led First Franklin's bad loan factory, is pushing interest-only loans at new firm.

Excerpts from this story referencing "Bank of America":

"… le consumers nearly sank Merrill Lynch, which was forced to sell itself to Bank of America. WDB Funding is the third mortgage company Pollock has helped lead since r …"

Six federal agencies are investigating online payday lenders

By Daniel Wagner

Justice, Consumer Financial Protection Bureau have subpoenaed online lenders and the major banks that do business with them.

Excerpts from this story referencing "bank accounts":

"… anking system. “If we can stop the scammers from accessing consumers’ bank accounts — then we can protect the consumers and starve the scammers,” said Mic …"

"… g sites and the arrests of their owners. The government shut down about 76 bank accounts in 14 countries and eliminated five domain names. The companies were char …"

Payday lenders agree to stop 'deceptive and illegal' practices

By David Heath

Court agreement ends practices feds said were deceptive, illegal

Excerpts from this story referencing "Nebraska":

"… . Those tribes are the Miami and Modoc of Oklahoma and the Santee Sioux of Nebraska. The attorney general of Colorado spent years battling the tribes in cour …"

Wells Fargo to pay $175M in lending settlement

By The Associated Press

Justice Dept: Wells Fargo to pay $175M to settle allegations of bias against blacks, Hispanics

Excerpts from this story referencing "Wells Fargo":

"… Wells Fargo Home Mortgage. …"

"… air-lending laws, the Justice Department announced Thursday. Wells Fargo, the nation's largest residential home mortgage originator, allegedly enga …"

"… gin rather than because of differences in credit-worthiness. Wells Fargo also will pay $50 million in direct down payment assistance to borrowers i …"

"… l surtax for African Americans in Miami in 2007 was $3,657." Wells Fargo noted in a statement that it has denied the claims. "Wells F …"

Barack Obama

New law gives US companies a break on pensions

By The Associated Press

Companies win cut in pension contributions; critics say saving pensions is even bigger concern

IMPACT: Tribal payday lender sued by Federal Trade Commission

By David Heath

Auto racer Scott Tucker accused of deceptive lending practices.

Excerpts from this story referencing "Scott Tucker":

"… ts about the business, the FTC says.Among the defendants in the lawsuit is Scott Tucker, a professional race-car driver from Kansas City, Kan. Tucker became a mil …"

Colo. judge issues new ruling in payday lending case against Indian tribes

By David Heath

Judge admits he 'misunderstood' evidence of tribal blame in Scott Tucker's online payday lending operation

Excerpts from this story referencing "Congress":

"… is possible but added, “My job is to apply the law, not to write it. If Congress does not want Indian nations hiring non-Indian operators to engage in payd …"

Indian tribes tied to payday lender escape state probe

By David Heath

State AG drops inquiry into two tribes accused of shielding online payday lender Scott Tucker

Excerpts from this story referencing "Loans":

"… he businesses make Loans under trade names, including AmeriIoan, UnitedCashLoans, US FastCash, 500Fastcash and OneClickCash.The Federal Trade Commission ap …"

Fraud and folly: The untold story of General Electric’s subprime debacle

By Michael Hudson

High-paid employees of fraud-plagued, GE-owned WMC Mortgage included ex-porn star, strippers

Excerpts from this story referencing "New Century":

"… gages in the nation’s 10 hardest-hit foreclosure hotspots, trailing only New Century Financial. In the Fort Pierce-Port St. Lucie area in Florida, for exa …"

Woman says GE-owned subprime lender deceived, defrauded her

By Michael Hudson

Mortgage on modest home becomes legal nightmare for West Virginia woman

Excerpts from this story referencing "lawyer":

"… e so many people of modest means who own their own property,” Timmons’ lawyer, Bren Pomponio, says. In the “gold rush of the subprime explosion,” he …"

"… egations, but pointed to court documents for elaboration.In court records, lawyers for WMC say Timmons received all the proper disclosures in the loan trans …"

"… s or by others; “no part" of her alleged damages were caused by WMC, the lawyers say.The appraiser on the deal, Mark Greenlee, pleaded guilty in September …"

Bank of America to pay record settlement over Countrywide abuses

By John Dunbar

Bank of America to pay record settlement over Countrywide abuses

Courts debate validity of Indian-owned payday lenders

By David Heath

Sale of payday-loan business to Indian tribe made to avoid state oversight, attorneys general say

Excerpts from this story referencing "AMG Services":

"… he payday-lending business and continues to work at the company now called AMG Services, managing hundreds of workers in Overland Park, Kan. But Tucker claims he …"

"… im to own and operate the business if they allow Tucker to “ransack your AMG Services bank account to the tune of tens of millions of dollars.” Among the per …"

"… loans are misleading and predatory, charging up to 800 percent interest. AMG Services is now under investigation by the Federal Trade Commission, according to r …"

"… to $20 million per month. The company then merged and changed its name to AMG Services. By comparison, the Selling Source, a Las Vegas company that signs up bor …"

Worst may be yet to come in foreclosure crisis, study says

Millions more homes at 'imminent risk of default' study says

The weekly watchdog: Oct. 24 - Oct. 28

By Bill Buzenberg

In case you missed them, catch up on this week's top investigations from iWatch News

Excerpts from this story referencing "Pfizer":

"… to give a select group of U.S. multinational firms like Apple, Oracle and Pfizer a lavish tax break on a trillion dollars stashed offshore. The avowed goal …"

IMPACT: Credit union swaps payday loans for friendlier offering

By Ben Hallman

Utah federal credit union featured in iWatch News investigation moves away from payday lending business

Excerpts from this story referencing "Credit":

"… instead offering a more consumer-friendly product. Mountain America Credit Union had offered its 320,000 member-owners a “MyInstaCash” loan that …"

"… w "Helping Hands” loan complies with rules set by the National Credit Union Administration that permit federal Credit unions to lend at a m …"

"… ountain America and another large Utah Credit union, America First Federal Credit Union, are part owners along with Capital Finance of “CU Access” — a …"

"… tes in exchange for a commission fee. Scott Simpson, the head of the Utah Credit Union Association, a trade group, said he was surprised that there wa …"

In trouble from an online payday loan? You might not have to repay it

By David Heath

Regulators urge people not to repay illegal online payday loans

Excerpts from this story referencing "Online Lenders Alliance":

"… y to them. Lisa McGreevy, the president and chief executive officer of the Online Lenders Alliance, said members of her organization utilize “an array of legal business mo …"

"… r alternatives, such credit unions or small-loan companies. Even the Online Lenders Alliance offers consumers advice, such as be sure to read the terms of the loa …"

Race car driver Scott Tucker drew an elaborate facade around his payday loan businesses

By David Heath

Payday lender Scott Tucker stayed one step ahead of the law

Excerpts from this story referencing "Scott Tucker":

"… is story here. A deputy sheriff in Olathe, Kan., ticketed race car driver Scott Tucker late one night in October 2008 after clocking Tucker’s Mercedes-Benz CLS …"

"… ounty records. One of AMG Services biggest vendors said in a lawsuit that Scott Tucker in 2009 was the owner and chief officer of AMG Services. Most revealing …"

"… er of the revenue from the payday lending business. Rags to riches story Scott Tucker’s life is both a rags-to-riches and get-rich-quick story. He grew up in …"

"… losed the only two people able to sign checks on four tribal accounts were Scott Tucker and his brother Blaine Tucker. Scott Tucker identifies himself on the acco …"

Payday lending bankrolls auto racer's fortune

By David Heath

Race car driver Scott Tucker hides business behind Indian tribes

Excerpts from this story referencing "NASCAR":

"… any premier races outright, his publicity machine already compares him to NASCAR superstar Jimmie Johnson. It produced a slick documentary of his team’s …"

Obama's new plan for underwater mortgages may be too little too late

By Michael Hudson

Obama orders Fannie and Freddie to work with borrowers; earlier programs helped only a few

Excerpts from this story referencing "Freddie Mac":

"… e president’s economic team to work with government-owned Fannie Mae and Freddie Mac, along with banks and regulators, to “help more borrowers benefit from t …"

"… r, by keeping borrowers in their homes and reducing risk to Fannie Mae and Freddie Mac,” the fact sheet says. Consumer advocates and lawyers representing home …"

"… available for borrowers whose home is owned or guaranteed by Fannie Mae or Freddie Mac. To qualify, a homeowner must have made a year’s worth of payments no mo …"

Next stop for fight over Wall Street reforms: Federal court

By Shirley Gao

The financial industry is preparing to move its fight against the Dodd-Frank law into the courts

Excerpts from this story referencing "Credit":

"… ged in a U.S. appeals court until the rule has been finalized by an agency.Credit history & remittances - The Consumer Financial Protection Bureau is st …"

"Dear CFPB" wish lists urge action on mortgages, payday loans, prepaid cards

By Shirley Gao

Advocacy groups have long wish lists for Consumer Financial Protection Bureau

Excerpts from this story referencing "bank accounts":

"… ed in popularity in the past few years, especially among Americans lacking bank accounts. But many pre-paid cards carry a slew of small fees for adding funds to it …"

CFPB to analyze Experian, Equifax, TransUnion data to get to bottom of credit score discrepancies

By Amy Biegelsen

CFPB will analyze why a consumer credit score can vary widely

Borrower Nightmares

By Julie Vorman

Leaderless CFPB faces big job taming predatory lenders

Excerpts from this story referencing "Mary Linville":

"… llsEmbarrassed about her mounting credit card bills, retired schoolteacher Mary Linville signed up with what she thought was a debt settlement company that promise …"