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.

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 "Scott Tucker":

"… harges. The Center for Public Integrity and CBS News exposed in 2011 that Scott Tucker, a convicted felon turned professional race-car driver, started the online …"

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 "Gloria Navarro":

"… affiliated with Indian tribes. The March 7 ruling by U.S. District Judge Gloria Navarro of Nevada was a huge blow to a payday lending business run by Scott Tucker …"

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.

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.

Excerpts from this story referencing "Twitter":

"… n’s website is studiously anonymous. The operators of its Twitter account have ignored multiple public requests for comment. Advocates …"

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."

Excerpts from this story referencing "Twitter":

"… Stop the Choke,” takes a less public approach. Its website, Facebook and Twitter accounts accuse the government of threatening a vast range of Web-based co …"

"… rs’ identity. There is no “about” section on the website. The site, Twitter account and Facebook page include no names, addresses or phone numbers. Th …"

"… or, and we don’t know who set it up.” A public request for comment on Twitter this month did not receive a response. Numerous trade groups representing …"

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.

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 "spokeswoman":

"… tion of anonymity to avoid fueling tension with federal authorities. CFPB spokeswoman Moira Vahey said the agency does not comment on or confirm pending enforce …"

"… ting or affiliated with — a duty known as "know your customer."  A spokeswoman for the Justice Department declined to comment. The approach has proven e …"

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 "Scott Tucker":

"… were illegally deceived. The business was founded and is still managed by Scott Tucker, best known as an endurance race-car driver who recently won the Baltimore …"

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
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 "AMG Services":

"… eceiving borrowers.The agency is asking a federal judge in Nevada to order AMG Services of Overland Park., Kan., to stop the deceptive practices and pay back borr …"

"… bank accounts of the lending business. From September 2008 to March 2011, AMG Services had deposits and withdrawals of more than $165 million. Money from the bus …"

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 "AMG Services":

"… with the tribes in September 2008. Tucker now claims to be an employee of AMG Services, a payday-lending company that the tribes say they own.The state argues th …"

"… ate Tucker personally. It’s less clear whether the state can investigate AMG Services, the payday lending business based in Overland Park, Kan. A spokesman for …"

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 "Scott Tucker":

"… claims of tribal ownership are a sham cooked up by Kansas City businessman Scott Tucker, who is better known as an endurance race-car driver.Tucker started the bu …"

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

Woman says GE-owned subprime lender deceived, defrauded her

By Michael Hudson

Mortgage on modest home becomes legal nightmare for West Virginia woman

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

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

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 "Miami":

"… t standing, or force them to seek more costly credit alternatives.” The Miami tribe of Oklahoma , which claims to own several online payday lenders, say …"

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 "state law":

"… are investigating whether Tucker is merely using the tribes to circumvent state laws. Tucker started a controversial online payday lending business that seve …"

"… se that have ventured into the online market usually get licensed and obey state laws, said Jean Ann Fox of the nonprofit Consumer Federation of America. The …"

"… s Association of America, D. Lynn DeVault, said that using tribes to avoid state laws violates the association’s standards “and would lead to the automatic …"

"… usiness obeys tribal and federal laws but he didn’t say whether it obeys state laws. At least five states have tried through legal proceedings to shut down t …"

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 "Scott Tucker":

"… and possibly double that number are affiliated with Indian tribes."  …"

"… ys she can’t figure out who’s really behind it. She had never heard of Scott Tucker. The Miami tribe's chief acknowledged that there are complaints from borr …"

"… th Fontano and the company managing the mail drop pointed to the same man: Scott Tucker. All mail was being forwarded to Tucker’s business in Overland Park, Kan …"

"… o: “Please forward any and all records for corporations organized by Mr. Scott Tucker.” Fontano said that he complied, not knowing that the Colorado Attorney …"

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 "president":

"… ance their mortgages at interest rates that are now near 4 percent,” the president said Thursday evening. “I know you guys must be for this, because that …"

"… lan, which builds on an existing government refinance program, directs the president’s economic team to work with government-owned Fannie Mae and Freddie Mac …"

"… nderwater—owing more on their mortgages than their homes are worth. The president’s plan to help more of these underwater homeowners refinance at a lower …"

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 "Congress":

"… islative s***!”  …"

"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":

"… ould tackle first.While consumer groups cheer the arrival of the CFPB, the banking industry and other financial services providers such as payday lenders, …"

"… 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 fu …"

"… t prepaid cards are covered by the same consumer protections that apply to bank account debit cards, it says.Move fast on debt collectorsThere have been m …"

"… would replace state laws with widely varying limits on such lawsuits.Stop banks from steering customers to costly overdraft protectionSome banks are stil …"

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

Excerpts from this story referencing "Congress":

"… ame company, they often receive different numbers.The CFPB, in a report to Congress released today, reviewed the credit scoring industry in general and said i …"

Borrower Nightmares

By Julie Vorman

Leaderless CFPB faces big job taming predatory lenders

Excerpts from this story referencing "Bank":

"… w $7,000 from Linville’s Bank account but never paid a cent to Discover, Bank of America, Lowes and other major creditors. After filing for personal ban …"

Storefront payday lenders criticize online rivals for affiliating with Indian tribes

By Michael Hudson

Online, storefront payday lenders divided as new consumer agency targets industry

Excerpts from this story referencing "spokesman":

"… th Native America tribes.“We abhor their practices,” Steven Schlein, a spokesman for the Consumer Financial Services Association of America (CFSA), a group …"

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