Wells Fargo Claws Back Millions From John Stumpf, Carrie L. Tolstedt, Over Account Sales Scandal

“In its report, the board said as of last Friday, it decided to claw back from Mr. Stumpf an additional $28 million of incentive compensation paid in March 2016 under an equity grant made in 2013. In September it announced $41 million in clawbacks from Mr. Stumpf. The board is also clawing back Ms. Tolstedt’s … Read more

When It Comes to Wall Street, Preet Bharara Is No Hero

When It Comes to Wall Street, Preet Bharara Is No Hero by Jesse Eisinger ProPublica After his election in 1968, President Richard Nixon asked Robert Morgenthau, the US Attorney for the Southern District of New York, to resign. Morgenthau refused to leave voluntarily, saying it degraded the office to treat it as a patronage position. … Read more

Economic Distress and Voting: Evidence From the Subprime Mortgage Crisis

Economic Distress and Voting: Evidence From the Subprime Mortgage Crisis Abstract Roughly 7 million Americans lost homes to foreclosure during the Great Recession. Despite claims that the subprime mortgage crisis helped fuel recent political turmoil in the U.S., we lack systematic empirical evidence about the effects of this unprecedented spike in home foreclosures on American … Read more

The Transferring of Servicing Rights to Avoid Reviewing Complete Modification Applications

The Transferring of Servicing Rights to Avoid Reviewing Complete Modification Applications The Rodriguez Law Group, Inc After years of litigating against alleged lenders, investors, servicers, and foreclosure trustee’s we are starting to see a clear trend of the servicing rights being transferred upon receiving a complete loan modification application. What is an alleged lender – … Read more

Tim Miller – “Love, Your Broken Home”

Tim Miller – “Love, Your Broken Home” (Live Studio Recording) A little while back I listened to an interview on the radio involving predatory lending practices. On one side, they had a family on the verge of being homeless because of these predatory practices. On the other side, they interviewed a twenty something year old … Read more

WSJ: Defunct NJ ‘Foreclosure Mill’ Sues Wells Fargo Over Robo-Signing

Defunct Law Firm Sues Wells Fargo Over Foreclosure Work A New Jersey law firm that helped Wells Fargo Bank N.A. foreclose on thousands of homeowners has sued the lender, saying the bank’s delayed efforts to fix its robo-signing problems led the law firm to collapse. Lawyers for the Zucker, Goldberg & Ackerman law firm, which … Read more