ABA Journal

Banking Law

1266 ABA Journal Banking Law articles.

Foreclosure Challenge Loses

A federal judge has dismissed a lawsuit against a company created to electronically record every mortgage loan in the United States.

Judge Timothy Corrigan of Jacksonville, Fla., ruled that Mortgage…

Mortgage Foreclosures Rise 58 Percent

Mortgage foreclosures nationwide were up by 58 percent during the first half of 2007, compared to the first half of 2006.

That translates to a total of 573,397 homes at…

Mortgage Bias Investigated

The U.S. Justice Department is investigating whether several mortgage lenders charged minorities higher rates than whites.

Grace Chung Becker, a deputy assistant attorney general, told a House Financial Services subcommittee…

Almost 800% Rise in Calif. Foreclosures

The number of California mortgage foreclosures has risen by almost 800 percent compared to the same period last year, according to figures released today. And experts predict the record-breaking situation…

New Regulations for Subprime Lenders

A new regulatory pilot program for subprime lenders was announced by a group of federal and state agencies today—the eve of Federal Reserve Chairman Ben Bernanke’s planned two-day testimony before…

Thrift Regulator May Set New Loan Rules

In the wake of what many consider widespread problems with American bank lending practices, a federal thrift regulator may soon introduce an aggressive set of proposed rules to curb abuses.

Web Schemes to Buy Better Credit Legal?

Web-based companies that help consumers improve their credit–for a fee–are clearly skirting the law. But are they violating it?

Perhaps not, as least as far as some of the methods…

Foreclosures Explode in South Florida; Poor, Minorities Hit Hardest

Although South Florida is still a bit below the national average for the total percentage of mortgages in foreclosure, that may not be true much longer. The number of foreclosure…

Cravath Poaches Partner, Adds Bankruptcy

Wall Street Journal’s Law Blog reports that white-shoe firm Cravath Swaine & Moore “has decided to scuff up its oxfords a bit” with the addition of a…

Record $50k Fine for Payday Lender in Nevada

State regulators in Nevada have imposed a record $50,000 fine on a payday lender, Leads Global Inc., which was ordered in March to stop doing business there.

The action was…

Subprime Lenders Face $48 Million in Possible Damages

A jury verdict against three subprime lenders accused of bait-and-switch advertising could be tripled to nearly $48 million.

A competitor sued NovaStar Financial Inc. of Kansas City, Mo., and two…

Dutch Ruling Favors Shareholder Rights

A Dutch court has halted the sale of LaSalle Bank by ABN Amro Holding NV until shareholders can vote on it.

The ruling benefits a banking consortium seeking to make…

White House Nixed Student Loan Reform

The Bush administration nixed a 2001 proposal to tighten restrictions on the student loan industry.

Since then, the loan industry has come under investigation for paying universities and school officials…

Suit Shines Spotlight on Obscure Lender

A legal battle has put the spotlight on a little-known lender in the Washington, D.C., area called the National Rural Utilities Cooperative Finance Corp.

Accountant Jeffrey J. Prosser borrowed money…

Business Boom Looms for Subprime Attorneys

Law firms representing subprime mortgage lenders will see a boost in business as they help with bankruptcy filings and fend off government investigations and class action lawsuits, the

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