Deceptive Acts and Practices

Monday, December 31, 2018

Wells Fargo to Pay States About $575 Million to Settle Customer Harm Claims


Latest settlement covers retail sales practices and auto-loan, mortgage charges

 

Read more . . .


Monday, August 6, 2018

Wells Fargo says hundreds of customers lost homes after computer glitch


Wells Fargo said the computer error affected "certain accounts" that were undergoing the foreclosure process between April 2010 and October 2015, when the issue was corrected.

About 625 customers were incorrectly denied a loan modification or were not offered one even though they were qualified, according to the filing. In about 400 cases, the customers were ultimately foreclosed upon.

https://money.cnn.com/2018/08/04/news/companies/wells-fargo-mortgage-modification/index.html


Read more . . .


Friday, April 27, 2018

Synchrony Bank accused of accessing individual's credit report in attempt to collect discharged debt

https://pennrecord.com/stories/511394886-synchrony-bank-accused-of-accessing-individual-s-credit-report-in-attempt-to-collect-discharged-debt
Read more . . .


Monday, April 23, 2018

Wells Fargo fined $1 billion for insurance and mortgage abuses

http://money.cnn.com/2018/04/20/news/companies/wells-fargo-regulators-auto-lending-fine/index.html
Read more . . .


Tuesday, April 10, 2018

Was your Facebook data shared with Cambridge Analytica? You can now find out


 On Monday, the social media giant began rolling out a "see how you're affected" Read more . . .


Wednesday, April 4, 2018

How to Avoid a Renovation Nightmare


“Contractor licensing and home remodeling is kind of like the Wild West,” said Adam G.


Read more . . .


Tuesday, December 26, 2017

TzedekDC (tzedekdc.org) is a new Jewish lawyers group dedicated to providing pro bono debt representation for the poor.


Whereas these disputes were once a matter of debtor vs. creditor, in recent decades the game has changed. Large companies write off their bad debt and sell the paper to third parties for pennies on the dollar. These big debt buyers then hire phalanxes of lawyers to sue thousands of people.
Read more . . .


Monday, December 11, 2017

When it comes to financial consumer protection state attorneys general wield an additional potentially powerful weapon.


A little-known provision of the 2010 Dodd-Frank law, which created the CFPB, gives them the authority to enforce the agency’s rules and its broad ban on “unfair, deceptive and abusive” practices beyond state lines.

States have rarely used those provisions while Richard Cordray, appointed by President Barack Obama and known for aggressively pursuing financial firms, was in charge of the watchdog.

 

Read more . . .


Friday, July 21, 2017

As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away


 Tens of thousands of people who took out private loans to pay for college but have not been able to keep up payments may get their debts wiped away because critical paperwork is missing.

The troubled loans, which total at least $5 billion, are at the center of a protracted legal dispute between the student borrowers and a group of creditors who have aggressively pursued them in court after they fell behind on payments.

 Judges have already dismissed dozens of lawsuits against former students, essentially wiping out their debt, because documents proving who owns the loans are missing. A review of court records by The New York Times shows that many other collection cases are deeply flawed, with incomplete ownership records and mass-produced documentation.

Read more . . .


Tuesday, July 11, 2017

Wells Fargo customers who had fake accounts created in their names are a step closer to some payback.


A federal judge granted preliminary approval over the weekend for Wells Fargo's $142 million national class action settlement. The court ruled that the settlement, which covers fake accounts back to 2002, "fair, reasonable and adequate."

 Victims may still have to wait before they get paid. The bank and lawyers for the plaintiffs plan to reach out to customers in the next three months, but the settlement may not be final until early 2018. Still, Wells Fargo CEO Tim Sloan called the court ruling a "major milestone in our efforts to make things right for our customers.
Read more . . .


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