Capital One corporate signage

Capital One sued once again for deceptive interest rate increases

Raising credit card interest rates on customers without telling them has gotten Capital One in trouble, again. A class action lawsuit accusing Capital One of violating the Truth in Lending Act by raising credit card interest rates without warning was dismissed by a federal judge earlier. But the 9th Circuit reinstated the Capital one class

Federal probe into robosigning reaches initial settlement

A settlement is soon to be announced regarding the robosigning foreclosure controversy. Some of the nation’s largest mortgage lenders rubber-stamped foreclosure documents without looking at them and may have foreclosed on some people who didn’t deserve it. A legal probe into foreclosure practices has reportedly reached a settlement with those lenders. JPMorgan exec discloses deal
Outdoor photo of one of JPMorgan Chase & Co's offices, taken in the late afternoon/early evening.

Trustee Irving Picard sues JPMorgan Chase for Madoff fraud

The latest chapter in the Bernie Madoff financial scandal involves one of the United State’s largest banking and investment companies, reports PR Newswire. It has been announced via press release that Irving Picard, the trustee for liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), is filing a complaint in U.S. Bankruptcy Court for the
Bank Owned

Lawsuit calls out HUD rule change on reverse mortgages

In late 2008, the federal Housing and Urban Development issued a rule clarification. This “clarification” has led to several individuals being foreclosed upon. The AARP has teamed up with these people to bring a lawsuit against HUD in hopes of preventing further foreclosures. Rule clarification on reverse mortgages The department of Housing and Urban Development
Automatic teller machine

Hundreds of banks slapped with lawsuits for ATM fees

Bank fees, specifically ATM fees charged to out-of-network debit card holders, infuriate many consumers. An increasing number of lawsuits have been initiated nationwide based on an obscure law regarding ATM fee disclosure. Banks facing 30 lawsuits over bank fees in Michigan There are more than 30 lawsuits over fees at automated teller machines facing various
Foreclosure sign

14 banks ordered to pay homeowners back for bad foreclosures

Federal authorities have ordered more than a dozen large financial institutions to compensate homeowners who were victims of fraudulent foreclosures. The number of homes that were foreclosed because of robosigning have not been totaled up, and the owners of those improperly foreclosed homes will be paid for their anguish. Largest banks in the nation to
Camebridge Credit Counseling

Old Lawsuit said Cambridge Credit Counseling had conflicts

Cambridge Credit Counseling UPDATE: Way back in 2004, Cambridge Credit Counseling got sued for apparent conflicts of interest and illegally high fees. When this article was written originally, it was based on incorrect information from an outside source, which said Cambridge Credit Counseling  was involved in a lawsuit. However, the lawsuit discussed below was settled