Predatory Lending

PREDATORY LENDIGN - At Fort Sill, High-Interest Lenders Circle The Gates

Posted on Thursday, January 27, 2011

LAWTON, Okla. - Just outside the front gates of the sprawling Fort Sill military installation, in a scrubby corner of the windswept Great Plains, a panorama of "military loan" brokers, pawn shops and car stereo dealers awaits. In this landscape of high-interest, easy credit, Mike, a U.S. Army Priva...

At Fort Sill, High-Interest Lenders Circle The Gates

Posted on Tuesday, January 25, 2011

LAWTON, Okla. - Just outside the front gates of the sprawling Fort Sill military installation, in a scrubby corner of the windswept Great Plains, a panorama of "military loan" brokers, pawn shops and car stereo dealers awaits. In this landscape of high-interest, easy credit, Mike, a U.S. Army Priva...

Developer Sergio Pino's suit claims BankUnited broke promise on loan

Posted on Wednesday, January 12, 2011

Developer Sergio Pino, accusing BankUnited of being a "predatory financial institution," has sued the lender claiming it cost him more than $200 million in lost profits. Pino's Miami-Dade Circuit Court suit centers on the Grand Bay at Doral mixed-use project that was to be built on 350 acres in wes...

Fed Moves To Gut Predatory Lending Regulation

Posted on Monday, January 10, 2011

The Federal Reserve is pushing a new mortgage regulation that would effectively eliminate the most powerful federal remedy for predatory lending. The regulation would severely limit a practice called "rescission," used to strike down demonstrably-illegal or fraudulent loan contracts and void a b...

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