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April 20, 2017

Ocwen Cease and Desist Orders: It's business model may be terminally impaired

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By K.K. MacKinstry 20 states issued Cease-and-Desist orders against Ocwen Financial Corporation today and a lawsuit from the Consumer Financial Protection Bureau followed shortly thereafter.  Mortgage regulators cited mismanagement of escrow accounts and poor financial conditions as reasons for the orders. Ocwen, a Florida-based company, was instructed not to acquire any new mortgage servicing rights …

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Whistleblower Richard Bowen: Barclays Bank Gets Its Hands Slapped… and What Does That Change!!!??

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By Richard Bowenhttp://www.richardmbowen.com/barclays-bank-gets-its-hands-slapped-and-what-does-that-change/ Is getting its hands slapped a strong enough message? The latest in the bad bank sagas has the British bank, Barclays, red-faced. As it should. CEO Jes Staley has been reprimanded for attempting to discover the identity of an internal company whistleblower. Mr. Staley stated that he was trying to protect a …

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David Dayen: A Bank Even a Socialist Could Love

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http://inthesetimes.com/article/20044/the-fight-for-public-banking A Bank Even a Socialist Could Love The fight for public banking is gaining ground in cities and states across the country. BY David Dayen “We have Tea Partiers and Occupiers in the same room liking public banking. What does that tell you?” “Money is a utility that belongs to all of us,” says …

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David Dayen: How a Cruel Foreclosure drove a couple to the brink of Death

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By David Dayen at Vice A married couple resorted to self-harm after being physically and psychologically terrorized by Bank of America over their house—until a judge fined the bank $46 million. https://www.vice.com/en_us/article/how-a-cruel-foreclosure-drove-a-couple-to-the-brink-of-death “Franz Kafka lives… he works at Bank of America.” Judge Christopher Klein’s words kick off an incredible ruling in a federal bankruptcy court …

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Buset Update: HSBC Challenges Foreclosure Dismissal Amid Claims of 'Unclean Hands'

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http://www.dailybusinessreview.com/id=1202784059887/HSBC-Challenges-Foreclosure-Dismissal-Amid-Claims-of-Unclean-Hands BY Samantha Joseph/Daily Business Review, South Florida Things looked grim for HSBC Bank USA N.A. last year when it faced involuntary dismissal of its case after a bench trial and sanctions for prosecuting a foreclosure suit with “unclean hands.” Back then, the trial judge sided with borrowers accusing the bank of building its case …

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