Tag Archives: banks

Ten major banks last week agreed to pay out $8.5 billion to settle allegations that they engaged in abusive foreclosure practices in 2009 and 2010. Of the settlement money, $3.3 billion will go to homeowners whose homes actually went into foreclosure. The remaining $5.2 billion will be used for loan modifications and other relief. Some 3.8 million homeowners were eligible for the review, meaning that the $3.3 billion in settlement money comes to less than $1,000 per family, although some …

Discover Defrauds Customers, Must Pay $200 Million You may get calls from credit card companies asking whether you’d like to hear about additional products they offer. If you said yes to a call from Discover between December 2007 and August 2011, you may be in for a little extra cash. Discover has settled deceptive marketing charges brought by the FDIC. The bank was accused of tricking customers into paying for extra credit protection programs. Find Out More…   Avoid Defaulting …

You get the calls all the time from credit card companies – “Would you like to hear about additional products offered by the bank?” If you said yes during a call from Discover during the over three-and-a-half-year period from December 2007 through August 2011, you may be in for a little extra cash. Discover announced on September 21 that it has settled deceptive marketing charges brought by the Federal Deposit Insurance Corporation (FDIC) and Consumer Financial Protection Bureau (CFPB), which …

If you’ve lost your home to foreclosure  or your home is “underwater” (you owe more on your mortgage than your home is worth), and you believe it’s because your lender messed up, you’ve got just two more months to apply to the federal government for help. The Office of the Comptroller of the Currency and the Federal Reserve Board offer a program called Independent Foreclosure Review to people who have lost money or their homes because of errors by banks …