Robert Trojan was the chief executive at a banking trade group when he found something concerning: The organization’s accounting firm had an undisclosed conflict of interest, according to a lawsuit he filed against his former employer and Wells Fargo last month in New York’s Southern District. A day after he formally raised his concerns, he …
Month: March 2017
Wells Fargo must face litigation on defective mortgages: U.S. judge
A federal judge on Thursday said Wells Fargo & Co (WFC.N) must face litigation seeking to hold it responsible for billions of dollars of claimed investor losses stemming from its alleged failures as a trustee overseeing risky residential mortgage-backed securities. U.S. District Judge Katherine Polk Failla in Manhattan said the plaintiffs, including a few dozen …
EXCLUSIVE: Wells Fargo workers may have opened more than 30,000 fake Washington accounts
Wells Fargo said it issued Washington state refunds averaging $19.88 per account in cases where it may have charged fees without the permission of customers. EXCLUSIVE: Wells Fargo workers may have opened more than 30,000 fake Washington accounts
Bank Of America Ordered To Pay $46M Over Improper Foreclosure
Bank of America must pay $46 million for improperly foreclosing on a California couple’s home in 2010. U.S. Bankruptcy Court Judge Christopher Klein levied [PDF] the judgement against the bank this week, calling Bank of America’s actions in foreclosing on the couple’s home “heartless” and “brazen.” In all, Klein ordered the bank to pay $46 …
Asheville committee considers Wells Fargo divestment because of DAPL
ASHEVILLE, NC — The Dakota Access Pipeline has the City of Asheville rethinking which bank it uses. Asheville City Council’s three-member finance committee will hear from city staff at 1: 30 p.m. Tuesday on a proposal to divest the city’s $150 million budget account from Wells Fargo because the bank has played a role in financing …
Ocwen now one giant step closer to acquiring MSRs again after new NYDFS agreement
For more than two years, Ocwen Financial has been prohibited from acquiring new mortgage servicing rights in bulk, thanks to the company’s $150 million settlementwith the New York Department of Financial Services. The news got a little better earlier this year when the California Department of Business Oversight removed the state’s mortgage servicing restrictions on Ocwen, but the NYDFS settlement still …
Asheville committee considers Wells Fargo divestment because of DAPL
ASHEVILLE, NC — The Dakota Access Pipeline has the City of Asheville rethinking which bank it uses. Asheville City Council’s three-member finance committee will hear from city staff at 1: 30 p.m. Tuesday on a proposal to divest the city’s $150 million budget account from Wells Fargo because the bank has played a role in financing …
Ocwen now one giant step closer to acquiring MSRs again after new NYDFS agreement
For more than two years, Ocwen Financial has been prohibited from acquiring new mortgage servicing rights in bulk, thanks to the company’s $150 million settlementwith the New York Department of Financial Services. The news got a little better earlier this year when the California Department of Business Oversight removed the state’s mortgage servicing restrictions on Ocwen, but the NYDFS settlement still …
“Before 1976, all education loans were dischargeable in bankruptcy.”
It’s no surprise that student loan debt is a major concern. Federal and private student loan debt surpassed credit card debt for the first time in 2010 and is expected to hit $1 trillion this year. At the same time as college graduates are experiencing record-high debt, they are offered little opportunity to get back …
Trump Administration Conflicts? Former Anthem Lobbyist To Oversee Antitrust Division: Report
A former top lobbyist for Anthem will be the next head of the Justice Department’s antitrust division, according to two reports citing officials familiar with the matter. Makan Delrahim served as one of the healthcare conglomerate’s top lobbyists working on antitrust issues as the company pushed the Justice Department to approve its controversial proposal to merge …