Bank - Page 10

  • What’s a Billion Dollars? (Whistleblower Post)

    … Isn’t It Time to Get Your Piece of the Pie? Hundred of Millions of Dollars in Whistleblower Awards Paid in Bank and Financial Services Cases What’s a billion dollars? To a big bank, not much! Bank of America, Wells Fargo, JPMorgan Chase and Citi reported a combined total of $5.3 billion in litigation expenses last year. That’s how accountants…

    Due Diligence- 34 readers -
  • “Get a Mortgage with 3% Down!” (Whistleblower Post)

    … had no skin in the game. It shouldn’t come as a shock that many of these loans defaulted. Fast forward to today and it appears that we quickly forgot many of the lessons of the crisis. It’s 2016, Countrywide was purchased by Bank of America and now Bank of America is rolling out its 97% financing “Affordable Loan Solution” home mortgage product…

    Due Diligence- 31 readers -
  • “Crap Job with Crap Wages” (Whistleblower Post)

    … “Crap Job with Crap Wages” (Whistleblower Post) March 17, 2016 by Brian Mahany Should You Become a Whistleblower? Today’s CNN Money had an interesting headline, “Americans fear a life of dead-end crap jobs with crap wages.” It’s not the kind of headline one expect from CNN but the message certainly rings true for many. People are nervous…

    Due Diligence- 33 readers -
  • Will You Go to Jail for Not Paying a Check Advance?

    … or a chapter 13, if you do not do a stop payment on them or close the bank account, the checks can be presented for payment by the Check Advance Company. This can cause your account to become overdrawn or wipe out the funds in the account. Although the automatic stay remains in effect during the bankruptcy case, there is an exception under 11 U.S.C. §362(b…

    Bond and Botes- 20 readers -
  • Small Banks and Punitive Damage Awards

    … Constitution. Local men and women who come together, hear the facts and decide whether or not to award damages, and if so, how much. When a jury does speak, judges are reluctant to ignore what they have to say. District Court Judge Ed McLean of Missoula, Montana is one of those judges. In a 41 page decision, Judge McLean refused to set aside the jury’s…

    Due Diligence- 36 readers -
  • What is an Involuntary Bankruptcy?

    …, or a credit union) that qualifies to be a debtor under the chapter under which such case is commenced. The attorneys in our offices are very knowledgeable about all types of bankruptcy. If you are interested in determining if bankruptcy is right for you, please contact one of our offices and set up a free consultation to discuss your options. …

    Kathryn Davis/ Bond and Botes- 39 readers -
  • “Even A Dog Can Get A Mortgage” – Whistleblower Post

    … columnist, during the 2000’s, “even a dog could get a mortgage with no money down.” After the last crisis, credit markets dried up. Banks were afraid to write loans and Fannie Mae and Freddie Mac clamped down on bad underwriting practices. One estimate says that big banks paid $132 billion settling whistleblower and regulatory lawsuits tied…

    Due Diligence- 14 readers -
  • Bearer Bonds – Great IRS Whistleblower Opportunities

    … securities have no ownership paper trail. Let’s look at an example. Say you own 100 shares of Ford Motor Company. Chances are pretty good that you don’t actually hold the share certificate. You own the shares even though you don’t have a certificate. Those shares are registered in your name and Uncle Sam has access to that information. Bearer…

    Due Diligence- 32 readers -
  • What Happens If I Guarantee Another Individual’s Debt?

    …. It is their debt.”, or “They are the primary, I am just the secondary.” Creditor’s Right to Sue You Unfortunately, whenever you sign your name on loan papers whether it is for your debt or someone else’s, you are creating a binding legal relationship. The lender, also called the creditor be it a bank, credit union or credit card issuer has obtained…

    Grant Mcnutt/ Bond and Botes- 39 readers -
  • TD Bank VP Conviction Opens Door to Ponzi Scheme Victims

    … TD Bank VP Conviction Opens Door to Ponzi Scheme Victims February 5, 2016 by Brian Mahany Last fall, former TD Bank regional vice president Frank Spinosa pleaded guilty to federal wire fraud charges in connection with a scheme to aid and abet a billion dollar Ponzi scheme. In December he was sentenced to 30 months in prison and must surrender…

    Due Diligence- 25 readers -
  • Comptroller of Currency ’16 Whistleblower Opportunities

    … The Office of the Comptroller of the Currency (“OCC”) and its Committee on Bank Supervision have published their 2016 operating plan. That document is a road map to the agency’s enforcement priorities this year. Many of those priorities offer big whistleblower opportunities. The Financial Institutions Reform, Recovery and Enforcement Act…

    Due Diligence- 21 readers -
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