John Oliver Slams John Stumpf Wells Fargo Chair & Ceo

John Oliver Slams John Stumpf Wells Fargo Chair & Ceo “That’s right: Wells Fargo employees created fake email addresses to enroll customers in hidden accounts, creating PIN numbers the customers didn’t even know existed,” Oliver said. “And hidden fees are bad enough without being hidden inside hidden accounts with hidden PIN numbers made with hidden … Read more

As Banks Continue to Foreclose with False Documents, Men Accused Of Taking Over Vacant Houses To Stand Trial

As Banks Continue to Foreclose with False Documents, Men Accused Of Taking Over Vacant Houses To Stand Trial Jurors are scheduled to hear opening statements Monday in an unusual trial in Cook County criminal court. The defendant is charged with theft of more than a million dollars — in the form of houses, many in … Read more

Fannie Mae Announces Winner of Fifth Community Impact Pool of Non-Performing Loans

Fannie Mae Announces Winner of Fifth Community Impact Pool of Non-Performing Loans WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced that The Community Loan Fund of New Jersey, Inc., an affiliate of New Jersey Community Capital, a non-profit community development financial institution, is the winning bidder on the housing agency’s fifth Community Impact Pool of … Read more

Five Questions with David Dayen About Foreclosure Fraud, Activism, and Hope

Five Questions with David Dayen About Foreclosure Fraud, Activism, and Hope David Dayen (dday to old-timers at Daily Kos) has been the most single most dogged journalist digging into the massive fraud perpetuated on American homeowners in the last decade, the fraud that almost brought down the global economy. In fact, he wrote the book on it—Chain of … Read more

“Home Prices Are Out Of Hand Again”

“Home Prices Are Out Of Hand Again” U.S. home prices appear to be getting out of hand again as the gap between home price growth and household real income growth is close to where it was just before the housing collapse. It’s also notable, and worrying, that the housing market is back in a “flipping … Read more

Polonsky v. Wells Fargo Bank: Wells Fargo Sued for $26 Billion Over Firings for Missed Account Quotas

“Wells Fargo knew that their unreasonable quotas were driving these unethical behaviors that were used to fraudulently increase their stock price and benefit the CEO at the expense of the low-level employees. Although this policy was known to top executives of defendants, plaintiffs, as bankers, were blamed for harm to clients and retaliated against.” ~ … Read more

Lawsuits Claim Banks Failing to Honor Loan Modifications

Lawsuits Claim Banks Failing to Honor Loan Modifications Consumer lawyers in Western Washington say they are seeing increasing instances of banks failing to honor home loan modifications. “It scared the heck out of me. I pretty much lost it because I thought I was going to lose everything,” said Adella King of Enumclaw. King says her … Read more

Wells Fargo CEO John Stumpf Resigns From Fed Advisory Council

Wells Fargo CEO John Stumpf Resigns From Fed Advisory Council Wells Fargo CEO John Stumpf is no longer an advisor to the Federal Reserve. On Thursday, Stumpf handed his resignation into the Federal Advisory Council, a group of 12 bank executives that advise the Fed board, according to a statement from a San Francisco Fed … Read more