The Real Threat To Wall Street Reform Is The Treasury Department, Not Congress The Real Threat To Wall Street Reform Is The Treasury Department, Not Congress David Dayen June 13 2017, 5:29 p.m. The Treasury Department’s first report recommending changes to the financial regulatory system wildly differs from the plan to dismantle Dodd-Frank that House Republicans …
Editor’s Note: Wells Fargo is a lawless operation that exploits unsuspecting consumers by opening accounts in their name without permission, and modifying and foreclosing on homes it doesn’t own with fabricated notes and fraudulent documents. Not to mention participating in identity theft and accessing credit reports without authorization. Meanwhile, for the most part, Wells …
NYTimes Gretchen Morgenson: Wells Fargo accused of making improper changes to Mortgages Read More »
by the LendingLies team The Federal Reserve announced Wednesday it plans to slowly sell off the pile of Treasury and mortgage-backed securities trash it accumulated during three asset purchase sessions (aka QE 1, 2 and 3), marking an end to a key strategy in response to the financial crisis. The sale of defective Mortgage-backed securities …
The Fed to sell $20 Billion in Defective Mortgage-Backed Securities Read More »
Online lenders haven’t been verifying income and employment on their loans, and that should set alarm bells ringing http://www.businessinsider.com/prosper-and-lending-club-dont-always-verify-borrower-income-and-employment-2017-6 Online lenders may be lowering their standards and taking greater risks on borrowers as they chase higher profits. Prosper Marketplace and Lending Club, two of the largest players in the online personal loan business, don’t always verify key …
Editor’s Note: Thanks to poster C. Anderson who says, “This is a technically correct but bad decision, as Dayen shows. The statutory language desperately needs to be updated. Until then, consumers should be taught how to exercise proof of claim demands. A consumer has no contract with a debt buyer; an assigned debt for consideration …
David Dayen: Gorsuch’s First Opinion: Let Debt Collectors Run Amok Read More »
http://www.thefiscaltimes.com/Columns/2017/06/13/Fed-s-Big-Mistake-Rate-Hikes-Hurt-US-Workers By David Dayen June 13, 2017 Protesters rallied in Washington, New York City and Philadelphia yesterday against an imminent government action that would damage the financial prospects of ordinary workers. And no, it had nothing to do with Donald Trump. The Center for Popular Democracy’s Fed Up campaign wants the Federal Reserve to break …
The Fed’s Big Mistake: Rate Hikes Hurt US Workers Read More »
MERRILL LYNCH COMMITTED BLATANT FRAUD. Like other Consent Orders, this one reveals the banks as pursuing an on-going pattern of fraud, deception and theft. The problem is that people still can’t quite believe the entire scheme is fraudulent and that the base transactions don’t exist. The banks get away with this because the complexity is …
