Tag: predatory lending
Report: Subprime lending giant’s add-on “loan protections” put borrowers at risk
Leon Martinez never expected to fall prey to a sucker loan.
“You read about it. You hear about it happening to people. And you kinda...
‘The debt that never dies’
Bill Daly knows how it feels to be haunted by debt collectors.
“I got married, got divorced, we practically gave away the house,” he said....
Settlement will pay back Colorado victims of illegal predatory lending
An online subprime loan company accused of charging consumers rates in excess of Colorado law has been barred from doing business in the state....
Colorado Progressive Coalition plans ‘organized chaos’ against Wells Fargo
Calling themselves "giant killers" the Colorado Progressive Coalition (CPC) announced a campaign of "organized chaos" against Wells Fargo Thursday morning for what the group said were the bank's predatory practices and illegal foreclosures.
Growing evidence suggests Wells Fargo targeted blacks for subprime loans
Memphis city officials have filed a lawsuit charging mortgage-loan giant Wells Fargo with discrimination. The New York Times reports:
The lawsuit, filed in federal court...
Program for first-time homebuyers ripe for abuse, housing advocates charge
When U.S. Housing and Urban Development Secretary Shaun Donovan announced last week that first-time homebuyers soon will be permitted to turn their $8,000 tax credit for purchasing a property into downpayment money, he called the development “exciting” and “a real win for everyone.”
But his enthusiasm isn’t universal.