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All posts tagged "occ"

  • Your Bank Will Drive You Longer in Debt Than the Return Trip

    One of the options you can use to get out of debt is a Debt Management Plan (DMP) from a non-profit credit counseling agency. These groups can organize many of your unsecured debts into one monthly payment...

    • Posted July 12, 2016
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  • New Bank Guidance Can Be a Debt Collection Game Changer

    The Office of the Comptroller of Currency has issued guidance to banks it supervises that will be used to supervise the bad debt and debt collection practices of banks. The new guidance is not a rule yet...

    • Posted July 3, 2013
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  • Office of the Comptroller of the Currency Money Waiting – Scam Alert

    The government agency, Office of the Comptroller of the Currency (OCC) is warning consumers to be on the lookout for fraudulent messages that are intended to scam money out of consumers. The OCC says fictitious correspondence, allegedly...

    • Posted November 5, 2012
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  • Doubts Spread About Independent Foreclosure Reviews

    by Paul Kiel ProPublica The idea behind the Independent Foreclosure Review seems simple. During the peak of the foreclosure crisis, the banks broke laws and made errors that hurt homeowners. In response, the government mandated they compensate...

    • Posted October 19, 2012
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  • Big Foreclosure Compensation, But Only for the Right Wrongs

    by Paul Kiel ProPublica Can you put a price on the damage caused by a wrongful foreclosure? Banking regulators have. And it’s $125,000. Or $60,000. Or $15,000. Or2026 it’s unclear. Last November, banking regulators launched a process...

    • Posted July 4, 2012
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  • OCC Issues Cease and Desist Letter Against Citibank

    The OCC announced it has sent a cease and desist letter to Citibank regarding “identified deficiencies in the Bank’s overall program for Bank Secrecy Act/anti-money laundering (“BSA/AML”) compliance” As we all know, banks make mistakes. It just...

    • Posted April 11, 2012
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  • Reader Feels Shafted by OCC and CitiMortgage on HAMP

    Rudy, a reader of the site forwarded me this information to share with you regarding their recent attempts to get their mortgage modified through HAMP. Rudy Says Dear Steve: Who will bail us out while our government...

    • Posted August 15, 2011
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  • Your Local Bank May Become Your New Payday Lender

    National Consumer Law Center has uncovered a spreading Main Street bank trend in the payday lending world. Back in 2008 I had written an article about Kinceta Federal Credit Union in California that felt being in the...

    • Posted August 6, 2011
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  • Banks Still Foreclosing on Wrong People

    by Paul Kiel, ProPublica Four years into the foreclosure crisis, banks say they’ve made major improvements in how they handle struggling homeowners. They’ve promised, for example, not to foreclose on homeowners who are being considered for mortgage...

    • Posted June 24, 2011
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  • Financial Reform Headed Down Wrong Track. Is the OCC That Inept?

    by Jesse Eisinger and Jake Bernstein, ProPublica Early last year, as they weighed whether to bar banks from speculative trading with their own money, congressional staffers turned to a key regulator for advice. The response from Julie...

    • Posted June 3, 2011
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  • Modified Mortgages Still Not Honored By Lenders

    by Paul Kiel ProPublica Chanel Rosario was supposed to be one of the lucky ones. After years of sending and re-sending documents, waiting on hold and attending court hearings to avoid foreclosure on her Staten Island home,...

    • Posted June 2, 2011
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  • Major Foreclosure Contractor Underplayed the Extent of Document Flaws

    Marian Wang, ProPublica In our primer on the players in the foreclosure scandal, we noted that the biggest foreclosure contractor to which banks outsourced servicing tasks, Lender Processing Services (LPS), has been accused of flaws in the...

    • Posted December 8, 2010
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  • Regulators Totally Missed Foreclosure Problems

    Marian Wang, ProPublica While they may be conducting their own investigations, federal prosecutors and national bank regulators for the most part aren’t the ones leading the investigation into the foreclosure mess. At least that’s the perception–one that’s...

    • Posted November 10, 2010
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  • I Hate American Express.

    “Dear Steve, Currently paying off about $75,000 in credit card debt taken on during the economic slowdown last year when my consulting business tanked; current income of about $150,000. Not sure that debt relief is a viable...

    • Posted February 17, 2010
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  • Government Help With Credit Card Debt

    A question I am getting asked more and more is about what programs the government offers to help you get out of debt or to eliminate credit card debt. These questions usually involve inquiries about government grants...

    • Posted November 16, 2008
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