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 "bank":

"… ive? What I saw is that the initiative tilts the legal system in favor of banks. For that small fraction of homeowners who are defending their homes, the …"

"… f homeowners who are defending their homes, they are now fighting not only banks, but also the state. When a court or judge tries to move a case forward, …"

"… tries to move a case forward, they are by default working on behalf of the bank which brought the case. And they are giving the banks leeway in terms of e …"

"… king on behalf of the bank which brought the case. And they are giving the banks leeway in terms of evidence they would never give to a homeowner. I revi …"

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 "Judge":

"… de Commission, which brought the lawsuit, will now ask U.S. District Court Judge Gloria M. Navarro of Nevada to order the company and others involved to re …"

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.

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 "Bank of America":

"… ies have pursued several big-name violators of these laws in recent years. Bank of America is paying out $37 million to people who were foreclosed on illegally under …"

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 "Bob McDonnell":

"… iously worked for Florida Gov. Rick Scott, another tea party favorite, and Bob McDonnell, the former Virginia governor who was indicted last month on federal corru …"

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 "Bank":

"… Center was among the first to report on the strategy in August. Banks do business with these industries through outside companies called third- …"

"… ndustries through outside companies called third-party payment processors. Banks are required by law to understand their customers’ businesses, even whe …"

"… indirect. They can be held liable for clients’ fraudulent transactions. Bank regulators repeatedly have warned Banks about the risk of working with thi …"

"… Justice Department lawyer Peter Kadzik wrote in a letter to the American Bankers Association and Electronic Transfer Association. …"

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 "federal government":

"… o set and enforce their own regulations. “Years of precedent set by the federal government are being thrown out the window by overzealous regulators looking to furth …"

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 "Center for Public Integrity":

"… endurance race-car driver who recently won the Baltimore Grand Prix. The Center for Public Integrity first exposed Tucker’s business practices in an investigation done with …"

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 "CBS News":

"… recent court records filed in Colorado.The Center for Public Integrity and CBS News jointly investigated and exposed Tucker’s involvement in the tribal …"

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

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 "CBS News":

"… t in the business. As detailed in a joint investigation by iWatch News and CBS News, Tucker initially set up shell corporations and a mail drop in Carson City …"

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

Excerpts from this story referencing "West Virginia":

"… you can just forget.”  …"

"… where she grew up. The simple, coal company-built house — known in West Virginia’s coalfields as a “Jenny Lind” home — didn’t have much insulatio …"

"… aid, she could refinance and keep a fixed rate.The appraisal was done by a West Virginia-based real-estate appraiser named Mark Greenlee. He put the value of the h …"

"… Timmons’ home in order to induce her into taking out the new loan.“In West Virginia, we have so many people of modest means who own their own property,” Tim …"

Bank of America to pay record settlement over Countrywide abuses

By John Dunbar

Bank of America to pay record settlement over Countrywide abuses

Excerpts from this story referencing "Michael Hudson":

"… an than a similarly-qualified white borrower.” iWatch News reporter Michael Hudson has covered the risky lending practices at Countrywide in a series of stor …"

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

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

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

Excerpts from this story referencing "Mortgage":

"… ften as white borrowers.The study – “Lost Ground, 2011: Disparities in Mortgage Lending and Foreclosures” – concludes with a plea for stronger governm …"

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

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

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 "Westfund":

"… ly with his secrecy in business. He describes himself simply as the CEO of Westfund, which is a fledgling private-equity firm with no visible marketing and a …"

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 "Bank of America":

"… essment, Treasury determined that the servicing arms of J.P. Morgan Chase, Bank of America, and Wells Fargo Bank all required “substantial improvement.” Treasury …"

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 "chief executive":

"… ves trading, and requirements for companies to report the pay ratio of the chief executive versus an average employee.In general, a federal regulation cannot be chal …"

"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

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 "Bank of America":

"… 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 bankruptcy, Li …"

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

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