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Tag Archives: Banks

Massachusetts sues banks over foreclosures

NEW YORK — Massachusetts sued five major banks Thursday over deceptive foreclosure practices such as the “robo-signing” of documents, potentially undermining negotiations between lenders and state prosecutors across the nation over the same issue. The lawsuit named Bank of America ...

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CFPB explains usage of an early warning notice

“This letter confirms that I called you today in accordance with the Consumer Financial Protection Bureau’s discretionary Early Warning Notice process.” That’s the first line of the CFPB’s letter to attorneys representing banks, thrifts, credit unions, mortgage providers, credit card ...

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Watchdog: Regulators bowed to banks on bailout

WASHINGTON — Federal regulators bowed to pressure from big banks seeking a quick exit from the financial bailout program and did not uniformly apply the government’s own conditions set for repaying the taxpayer funds, a new watchdog report says.

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Large US banks must report to regulators

WASHINGTON — The largest U.S. banks will be required to show regulators how they would break up and sell off their assets if they are in danger of failing. The Federal Deposit Insurance Corp. voted 3-0 to approve the rules ...

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With debit card cap, banks look to new fees

Congress last July passed the Durbin Amendment, which capped the fees banks charge merchants for debit card transactions, but a year later, the federal government has delayed implementing the legislation.

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S&P downgrades Fannie, Freddie, U.S.-backed debt

WASHINGTON, D.C. — Standard & Poor’s Ratings Services on Monday downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt. The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt ...

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Survey: Credit card lenders ease requirements

A survey on credit underwriting practices revealed that for the first time since 2008, many of the nation’s largest lenders have eased their underwriting standards. The report, released late last month by the U.S. Office of the Comptroller of the Currency ...

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