Topics: Banking Law - 19 results


Posted 1 year ago in Banking Law Real Estate by Michele Bowman  
Walmart Mortgages Coming Soon to Aisle 10

You buy toilet paper and ammo there, so why not a home? Consumers are indicating they would trust Walmart and other non-banks with their mortgages, and some experts believe that’s not necessarily a bad thing. While they seem mostly satisfied with the services of the big banks, “continued frustrations with current mortgage processes . . . could drive consumers to alternative home loan providers,” according to a recent survey by a consulting firm whose clients include some of the largest …

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Posted 2 years ago in Banking Law by Aaron Kase  
Famous Athletes Fall Prey to Ponzi Scheme

Professional athletes pulling in millions of dollars are wise to invest some of that money using a financial professional. Unfortunately, some former football players and a U.S. Olympic soccer player are finding they put their trust in the wrong hands. St. Louis Rams quarterback A.J. Feeley, his wife, who is soccer star Heather Mitts, and several other current and former football players are suing their financial adviser, William Crafton Jr., as well as various firms and banks that employed him. …

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Posted 2 years ago in Banking Law by Roy Rivenburg  
Banks Defraud Customers with Manufactured Overdraft Charges

Nobody wants to pay $35 for a cup of coffee or loaf of bread, but that’s essentially what has happened to debit card users around the nation, according to class action lawsuits against dozens of banks. In July, U.S. Bank, Bank of the West and Bank of Oklahoma joined a parade of financial institutions agreeing to fork over millions of dollars to settle claims that they manipulated debit card transactions to trigger overdraft fees. Other cases are still winding through …

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Posted 2 years ago in Banking Law by Arthur Buono  
Getting Financial Help after Tornados and Wildfires

Extreme weather has wreaked financial havoc nationwide, including Spring wildfires burning throughout the country. Meanwhile, the traditional boundaries of Tornado Alley – Texas, Oklahoma, Kansas Nebraska and South Dakota — may be expanded to include 11 states in the Midwest and Deep South, because the frequency and severity of tornadoes in those areas is much more widespread than commonly believed. Click here to see the new map Banks are said to be stepping up with low-cost loans. What financial help …

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Posted 3 years ago in Banking Law Consumer Law by Heather McGowan  
Editor’s Choice: Top Five Legal News Stories of the Day

Here are some news items we thought you’d be interested in: Looks like Wells Fargo needs to circle its wagons as the US Justice Department ramps up for a lawsuit for predatory lending. It’s alleged the lender steered African-American customers into sub-prime loan products and falsified loan documents. The Federal Reserve and the City of Baltimore filed similar lawsuits against Wells Fargo. Meanwhile, everyone is feeling the strain and pain of tightened mortgage lending standards. It may be a whole …

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