Consumer rights activists staged a protest inside the Bank of America building in St. Louis on March 24th. The protesters, organized as part of the People’s Settlement, called for a freeze on foreclosures and specifically sought a conversation with Jack Shackett, Bank of America’s Credit
A recent study funded by the National State Attorneys General Program at Columbia Law School found that federal action to exempt national banks from state anti-predatory lending laws resulted in more defaults and riskier lending compared to other banks. At the same time, the study
One of many bank employees working with SEIU came forward to uncover predatory banking practices that harm consumers and communities. The bank executive spoke to ABC News on the condition that ABC News not show his face or name him, because he feared coming forward
National People’s Action released the 2009 Chicago Foreclosure report with Senator Durbin yesterday. The report, written by NPA Research Analyst Nick Bianchi, shows that 2009 was the worst year ever for foreclosures in Chicago, with the crisis deepening in middle class communities. The report speaks
A recent editorial in the New York Times talked about new steps that President Obama has authorized to deal with the needs of homeowners dealing with foreclosures, especially unemployed homeowners and those with underwater mortgages. However, there are still problems with the government’s plans, as
The National Council of La Raza (NCLR) partnered with the Center for Community Capital (CCC) at the University of North Carolina to produce their recent report titled The Foreclosure Generation: The Long-Term Impact of the Housing Crisis on Latino Children and Families. NCLR’s findings reflect
Oregon State Public Interest Research Group (OSPIRG) has been working with the state government to help prevent foreclosures and protect consumers. The importance of this fight and the work done by this group was recently profiled in this piece by KUOW, the local radio station.
The California Reinvestment Coalition released this report (PDF) about subprime lending to communities of color in California. Here are their key findings: Lenders saturated California neighborhoods with high-cost and predatory loans: In 2006, in each city, lenders were more likely to make high-cost loans in
Tomorrow evening, PICO faith leaders will take a big step forward to hold big banks accountable to our communities. PICO leaders from across the country will travel to Antioch Family Church in Antioch, CA to participate in the nation’s first negotiation session since the financial
Florida’s station WFSU ran this story about the need to help struggling homeowners: Florida is second only to Nevada in the number of foreclosures. The latest report from the real estate website RealtyTrac shows foreclosures in Florida increased two percent from October to November. One