By Maya Jackson Randall and Jessica Holzer Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)–Only 9% of eligible borrowers have received trial modifications under the Obama administration’s ambitious effort to help struggling homeowners, according to data released by the U.S. Treasury Department on Tuesday. Participating mortgage
Banks Fall Short on Mortgage Help Govt. Report Shows 15 Percent of Eligible Borrowers Offered Help; Bank of America, Wells Fargo Lag Behind Other Big Banks By MATTHEW JAFFE and ALICE GOMSTYNAugust 4, 2009 Fewer than one in five homeowners eligible for the Obama administration’s
Posted on Sat, Aug. 01, 2009 By BRIAN BURNES The Kansas City Star The American Dream shouldn’t become a nightmare. So said Stevie Wakes, pastor of Olivet Institutional Baptist Church in Kansas City, Kan. He was among several speakers at a Saturday meeting organized by
The Philadelphia Inquirer ran this excellent opinion piece on August 3. Here’s an excerpt: Credit card and mortgage consumers need help to level the playing field. By Adam Benforado The $3-trillion-a-year consumer financial-services industry wants you to play a game with them, one on one.
Americans for Financial Reform (“AFR”) is a coalition of nearly 200 national, state and local consumer, employee, investor, community and civil rights organizations who seek meaningful reform of our banking and financial system. A list of the AFR coalition members is attached. AFR writes to
NTIC Community Meetings with the Federal Reserve July 16 – August 22 July 14- Click Here to view the day’s Events in Support of a Consumer Financial Protection Agency June 24- 5:30 PM, Taxpayer-Shareholder Protest Meeting at Bank of America HQ, San Francisco. We’ll rally at
H.R. 3269 “Say on Pay” passed today with a vote of 237 to 185. Two Republicans voted for it, and 16 Democrats voted against. Washington D.C. – In the wake of the New York Attorney General report that top banks that got billions in taxpayer bailout
July 28, 2009 Treasury Secretary Timothy Geithner United States Department of the Treasury 1500 Pennsylvania Avenue, N.W. Washington, D.C. 20220 Dear Secretary Geithner: As consumer, community and faith‐based organizations working to stop preventable foreclosures, we are deeply concerned by the slow pace at which many
Organized by Americans for Financial Reform and their coalition partners, Association of Community Organizations for Reform Now (ACORN) and PICO National Network, held a press conference today highlighting testimony from homeowners whose lenders continue to drag their feet performing loan modifications, despite the Administration’s plan