…the second-biggest U.S. lender, rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents.
Mortgage workers falsified records and were told to delay U.S. loan-assistance applications by requesting paperwork that the Charlotte, North Carolina-based bank had already received, according to statements from ex-employees filed last week in federal court in Boston. The lender improperly disqualified applicants to the Home Affordable Modification Program, or HAMP, according to a May 23 statement from Simone Gordon, a loss-mitigation specialist who left the company in 2012.
“Whether you use your card for one purchase a month or 20, you will pay $5 per month starting in 2012. It doesn’t matter if you select “debit” or “credit” at the point of sale.”
I think it may be time for me to switch banks because I tend to avoid credit cards like the plague, spend too quickly when I have cash, don’t really enjoy carrying around large sums of cash, and thus, heavily rely on my debit card.
I was worried about the future of the nationwide mortgage settlement after news that New York Attorney General Eric Schneiderman was booted from the council negotiating on behalf of the United States. Not anymore though, now that I know the state of Nevada isn’t back down either:
A top Bank of America executive was caught on camera yesterday whispering to Gov. Rick Perry (R-TX), “Bank of America. We’ll help you out,” as the GOP presidential candidate attended New Hampshire’s Politics and Eggs breakfast. The executive has been identified by the financial website Zero Hedge as James Mahoney, Director of Public Policy for the bank. Mahoney is on the board of directors for the New England Council, the sponsors of the Politics and Eggs breakfast. … Over the years Gov. Perry has benefited greatly from Bank of America’s financial support, and it appears that largesse will continue as he seeks the presidency on a platform of — coincidentally enough — bank deregulation. His gubernatorial campaigns have received $125,900 from Bank of America’s PAC and executives since 2003. During the 2010 cycle alone, Perry’s campaign received $30,160 from the bank’s PAC and executives. According to Texans for Public Justice, Bank of America has also given generously Republican Governors Association, which Perry led until recently and just happens to be his largest donor, contributing $4 million between 2001 and 2010.
Oh, I’m sure they’ll help him out just fine. Let’s not forget, some of Obama’s biggest donors also were from the financial sector/Wall St.
Seems that some people who want the banksters to pay are taking matters into their own hands.
National People’s Action, one of the more aggressive progressive advocacy groups, has been deeply involved in street protests against foreclosure fraud and corporate greed. And today, they escalated those actions. 600 activists with NPA took over a DC branch of Bank of America today, handing over a “tax bill” to the large banking institution that they believe has cost states billions through tax avoidance and reckless speculation
How much did Wall Street’s abuse cost you? Find out!
Fill out the form below to see what Wall Street owes you and your state, and tell Congress to collect!
Our country is facing a revenue crisis. There’s not enough money in our cities and states to support the investments needed to rebuild America. The good news is this: We know where the money is. While politicians might tell you differently, it’s not in Grandma’s pension. It’s not in the homes of families fighting off foreclosure. And it’s not in the pockets of American schoolchildren or schoolteachers.
It’s on Wall Street.
The big banks bankrupted our country. But we can rebuild America. And the big banks must pay their fair share.
National People’s Action (NPA) is a Network of community power organizations from across the country that work to advance a national economic and racial justice agenda. NPA has over 200 organizers working to unite everyday people in cities, towns, and rural communities throughout the United States.