Banking Misconduct Blog


RICO Claims Must Cover 12 Months of Activity

Appeals Court Rules that Illegal Activity Must Continue at Least One Year to Establish Racketeering  
How long must illegal behavior continue before it becomes racketeering? A federal appeals court in Philadelphia recently answered that question in an alleged Ponzi scheme...

Fraud Alert: Having Trouble with Your Bank? Don’t Tweet!

We don’t often publish fraud warnings, social media is full of them already. This one comes to us from our friends in the U.K. and is certainly worth repeating.
 
Tweeting about Problems with Your Bank Makes You a Target for Fraudsters  
Think about it… you...

New Hope for California Homeowners - HAMP LOAN MODIFICATION POST

The housing and banking crisis of 2008 is long over. It’s been a decade since many homeowners woke up to find themselves underwater and owing the banks hundreds of thousands of dollars more than their house was worth. For others, it was worse. They woke up to no job and no ability to get...

JPMorgan Chase Sued Over Unauthorized Withdrawals

Is JPMorgan Chase Responsible for Unauthorized Withdrawals?  
Imagine you own a small business. For years, you struggle to build the business, keep customers happy and hopefully earn a small profit. As a restaurant owner, you focus on making sure you have the best ingredients, good...

Ocwen’s Many Evils - Systematic Abuse of Struggling Homeowners

Last April, the Consumer Financial Protection Bureau announced a lawsuit against Ocwen and its subsidiaries for “failing borrowers at every stage of the mortgage servicing process.” The CFPB’s statement claimed that “Ocwen’s years of widespread errors, shortcuts, and...

Independence Day, Bank of America, and Financial Tyranny (HAMP Post)

Topics:
-Bank of America Accused of Stealing Homes -Fighting Back Against Banks -The Truth about HAMP Modifications  Today is July 4th and in thousands of communities, people will celebrate our independence with fireworks tonight. Independence from tyranny and a privileged ruling...

FDIC Closes Guaranty Bank – What Does This Mean for Customers?

After years of losses and weak financials, the FDIC swooped in last night and closed Guaranty Bank. With over $1 billion in deposits and 119 branches scattered across 5 states, thousands of depositors and borrowers are wondering, “what happens next”?
 
As lender...

Judge Accuses Bank of America of "Battle-Fatigued Demoralization"

A federal judge in Sacramento, California has given Bank of America a lesson in corporate responsibility. Bankruptcy Judge Christopher Klein sanctioned America's "Too Big to Care" banking giant up to $46 million for causing severe emotional distress to a California couple facing foreclosure. In the...

Can Banks Demand New Loan Guaranties after Bankruptcy?

A ruling by federal bankruptcy judge in North Carolina makes it more difficult for banks to force debtors to sign a new personal guaranty after discharge in bankruptcy. The decision could have wide ranging implications and help borrowers.
 
In re Schwarz  
Dr. Karl...

Unauthorized Fund Transfers (Bank Wire Fraud)

This is every consumer’s and business owner’s worst nightmare. One morning you open your email and see that large numbers of checks are bouncing. “That’s odd,” you think. There should be plenty of money in your account. Even though you know that there is money in your...