Updated: Although the FBI and U.S. Department of Justice are reportedly investigating mortgage industry leaders after a foreclosure crisis sparked by failing subprime loans, criminal cases against them appear unlikely.
Among those who bought auction-rate securities based on widespread expectations that they could easily be sold is San Diego lawyer Chris Longman, 35. But now he and his wife reportedly…
Recent court filings concerning a tax evasion plea deal by billionaire Igor Olenicoff may cast a brighter light on similar efforts by less-wealthy individuals to evade U.S. income tax.
A new report finds that 448 subprime-related cases were filed in federal courts in the 15 months that ended on March 31, a total that is outpacing litigation over the…
When $280,000 was mistakenly deposited in October into the bank account of a retired couple in midstate Pennsylvania, they did the right thing, according to their lawyer, and notified the…
Now that many states have laws in place to try to prevent payday lenders from bankrupting consumers with short-term loans at extraordinarily high interest rates, it turns out that a…
The mortgage meltdown, which many now attribute at least in part to widespread fraudulent practices, seems to have had an unexpected effect on federal regulators. Instead of waiting for a…
As housing price declines steepen and mortgage default rates rise, Congress is considering legislation to give struggling homeowners an alternative to foreclosure in what many are calling the worst real…
Instead of providing the expected financial cushion in tough economic times, home equity lines are disappearing just when some owners—including attorneys—were relying on being able to use them.
Federal prosecutors in at least five major cities throughout the country are reving up for a more expansive investigation of possible widespread fraudulent practices by mortgage lenders and investment banks.
Banks aren’t betting on lax enforcement of a confusing new federal law that may prohibit them from processing online gambling wagers. So many customers could find their attempts to place…
The ABA Journal wants to host and facilitate conversations among lawyers about their profession. We are now accepting thoughtful, non-promotional articles and commentary by unpaid contributors.