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 "Florida":

"… gress as the state responds to their concerns on several different fronts. …"

"… ose if the bank trying to foreclose doesn’t respond to the motion. Other Florida counties have similar orders in place. “What they’re saying is you do …"

"… don’t have to hear those motions, just deny them,” said Thomas Ice, a Florida lawyer who took his opposition to the orders to the Supreme Court’s comm …"

"… gone.” The Center for Public Integrity reported earlier this year that Florida’s legislature and Supreme Court have instructed judges across the state …"

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 "Foreclosure":

"… ellas county there was a sign taped to the front of the bench that said “Foreclosure Sale: 45 days, Sept. 16, 2014.” It was like those signs in a liquor stor …"

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 "Federal Trade Commission":

"… ral law by deceiving borrowers about how much they’d have to repay. The Federal Trade Commission, which brought the lawsuit, will now ask U.S. District Court Judge Gloria …"

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.

Excerpts from this story referencing "DOJ":

"… In 2012, Capital One Financial Corp. agreed to pay $12 million to settle a DOJ lawsuit involving similar alleged violations. The new CFPB report noted t …"

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 "Ted Cruz":

"… e features dozens of photos and references to Tea Party favorite U.S. Sen. Ted Cruz, R-Texas. A Cruz spokesman said the Facebook page “is not affiliated wit …"

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 "Federal Trade Commission":

"… filiated with the NAFSA, the trade group representing tribal lenders. The Federal Trade Commission sued a group of companies associated with Tucker in 2012 for misleading an …"

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 "Loans":

"… o pay back. The lenders use a variety of brand names, including UnitedCashLoans, US FastCash, 500Fastcash, OneClickCash and Ameriloan. …"

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 "Federal Trade Commission":

"… he said. “I didn’t know if anybody would be able to do anything.” …"

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 "Jan Zavislan":

"… ined the same after the new agreements were signed.Deputy Attorney General Jan Zavislan said at a recent hearing that money from the business accounts was even us …"

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 …"

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 "WMC Mortgage Corp.":

"… laid out the costs and details of her loan.The $67,500 loan was funded by WMC Mortgage Corp., a subsidiary of General Electric since 2004.GE shuttered WMC in 2007, but …"

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 "WMC Mortgage Corp.":

"… ome loans by paying roughly half a billion dollars to buy California-based WMC Mortgage Corp.What GE got in the bargain, former WMC employees say, was a place where ers …"

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 "Mortgage":

"… ending practices at Countrywide in a series of stories called “The Great Mortgage Coverup.” Perez said more than 200,000 African-American and Hispani …"

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 "Federal Trade Commission":

"… p to 800 percent interest. AMG Services is now under investigation by the Federal Trade Commission, according to records introduced in court. Sovereign immunity doesn’t ba …"

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 "Foreclosure":

"… rs.The study – “Lost Ground, 2011: Disparities in Mortgage Lending and Foreclosures” – concludes with a plea for stronger government measures to prevent …"

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 "loans":

"… that its prospects for passage are mixed.IMPACT: Credit union drops payday loansA Utah-based lender featured prominently in an iWatch News investigation of …"

"… n of payday lending at credit unions has stopped selling the controversial loans and is instead offering a more consumer-friendly product. Mountain America …"

"… nnual interest rate for a $100, five-day loan. These short-term, unsecured loans are usually due when the borrower receives his or her next paycheck. Consu …"

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 "National Credit Union Administration":

"… . The new "Helping Hands” loan complies with rules set by the National Credit Union Administration that permit federal credit unions to lend at a maximum 28 percent ann …"

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 "bank account":

"… m Puyallup, Wash., expected the lender, Ameriloan, to deduct $457 from his bank account on his next payday to pay off the loan. But when Coons checked his accoun …"

"… a result, Ameriloan could not make Coons pay back the loan. He closed his bank account and is off the hook. “It’s illegal to make a loan without a license, …"

"… life,” Vanderhoff said. Because the lender could draw directly from her bank account, Vanderhoff felt she had no control. When she was in an accident, she says …"

"… says it’s a violation of federal law to require automatic debits from a bank account as a condition of getting a loan. Online payday lending is big business, …"

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 "loans":

"… ed the efforts of state regulators to stop the company from making illegal loans in their states. Yet an iWatch News investigation found that Tucker is li …"

"… s. Several other states have either instructed the business to stop making loans or warned consumers about it. Tucker, who lives in the upscale Kansas Cit …"

"… ran newspaper and magazine ads throughout the country offering commercial loans, Tucker posed as the president of a seemingly high-powered investment bank …"

"… 000 in “advance fees” from at least 15 borrowers without providing any loans. Tucker ultimately pleaded guilty in federal court to two felony charges …"

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 "Loans":

"… n laws. On top of that, neither lender – Cash Advance and Preferred Cash Loans – was licensed to make Loans in the state. The two lenders seemed conne …"

"… orney general dashed off letters, ordering Cash Advance and Preferred Cash Loans to stop making illegal payday Loans in the state. Cash Advance ignored the …"

"… ns in the state. Cash Advance ignored the order. Curiously, Preferred Cash Loans sent back a brief, unsigned note, saying it had forgiven its loan to the w …"

"… l wrangling quickly escalated. Still, both Cash Advance and Preferred Cash Loans kept ignoring court orders. By June 2005, the attorney general asked a Col …"

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 "Federal Housing Finance Agency":

"… As of June 11, the program had refinanced 838,400 loans, according to the Federal Housing Finance Agency. More than 9 million Americans have received a foreclosure notice since 20 …"

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

Excerpts from this story referencing "insurance":

"… en ranging from 300 to 850 – are used by mortgage lenders, auto dealers, insurance companies and others to determine credit rates and limits.A multitude of a …"

Borrower Nightmares

By Julie Vorman

Leaderless CFPB faces big job taming predatory lenders

Excerpts from this story referencing "San Antonio":

"… aughter's treatment cost thousands of dollars for hospitals from London to San Antonio. Then came bad tax advice in rolling over a retirement plan, and home dama …"