Congresswoman Debbie Wasserman Schultz Votes To Allow Car Dealers And Auto Finance Companies To Discriminate Against Minorities Congresswoman Debbie Wasserman Schultz pushed through Congress a bill that would allow auto finance companies to discriminate against minority and unsophisticated car buyers. The Reforming CFPB Indirect Auto Financing Guidance Act would let lenders and dealers ignore CFPB rules. Current […]
Congressman Alcee Hastings implicated in alleged bribery scheme benefiting payday lenders Florida Congressman Alcee Hastings and 11 Congressmen are under investigation for their involvement with payday lenders. Hastings allegedly took campaign contributions from lobbyists shortly before or after taking official actions in support of the industry. The Florida Bulldog reports that the Campaign for Accountability requested […]
JPMorgan Chase Claims That FHA Loans Are Government Backed Subprime Loans FHA loans that were originally intended to give first-time buyers easy access to mortgages are being compared to the very loans that contributed to the housing crisis. Kevin Watters, CEO of Chase Mortgage Banking told CNBC, “FHA requirements are down to a 520 FICO […]
Najia Jalan Used Bogus Names and Companies To Scam People Out Of $1.6 Million With Her Foreclosure Rescue Scam A 30-year-old Najia Jalan from Costa Mesa, California pleaded guilty last week to federal charges stemming from a foreclosure rescue scam that targeted homeowners with bogus promises of mortgage relief. In October, 2014, knowing federal officials […]
Provident Funding Associates Was Accused of Lending Discrimination Against African-Americans and Hispanic Borrowers Settlement Provides $9 Million in Compensation to African-American and Hispanic Borrowers The Justice Department and Consumer Financial Protection Bureau filed a consent order yesterday to resolve allegations that Provident Funding Associates engaged in a pattern or practice of lending discrimination that increased […]
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