Predatory Lending

Despite bans on the practice in 15 states, payday loan companies have thrived, finding a powerful ally in major banks like JP Morgan Chase and Wells Fargo. That is the finding of the Pew Charitable Trusts in the second edition of their Payday Lending in America series. Many of the the payday...
02/26/2013
Blog
The home mortgage crisis and Great Recession destroyed a generation of economic progress for African-American families. Now, reports the Washington Post, the discriminatory impact of credit scores and reports could cement the disadvantages into place for decades to come. To be clear, there’s...
07/09/2012
Blog
The March 5 Wall Street Journal reported that as the Federal Reserve prepares to release the results of the latest round of stress tests, evaluating how banks would respond in the event of another severe financial crisis, “Bankers are pressing the Fed to limit its release of...
03/07/2012
News/Resource
New York, NY--Demos views the mortgage servicing deal reached today between a coalition of state Attorneys General and 5 major Wall Street banks as an important stepping stone in the effort to secure justice for homeowners victimized by the foreclosure crisis. The following is a statement by...
02/09/2012
Press Release
New York, NY — Today Demos, a national public policy organization that conducts research on economic security issues in the United States, re-released its 2005 reports Home Insecurity: How Widespread Appraisal Fraud Puts Homeowners At Risk and A House of Cards: Refinancing The American Dream...
08/12/2011
Press Release
Hundreds of thousands of families lost their homes because of loans that were often not fully explained or under¬stood. Beyond the Mortgage Meltdown distills the origins and nature of the crisis in the housing market. Senior Fellow James Lardner highlights the complicity of regulators and lawmakers...
08/11/2011
Publication
New York, NY – The housing market is heading toward a "vicious cycle" according to economists, as big banks and lenders take ownership of more foreclosed homes. New numbers in a report by RealtyTrac showed that lenders own more than 872,000 of these foreclosed properties, and could take possession...
05/23/2011
Press Release
Rob Brunhild trusted his broker when he was sold principal-protected notes underwritten by Lehman Brothers, noting that the broker implied that the notes were like Treasuries. His expectations for a solid return were dashed when Lehman went under, wiping out his investment. He said his...
05/17/2011
News/Resource
For starters, we could use a true refinancing program that reduces principal and interest owed, so that homeowners who took out mortgages in good faith could afford to keep their homes. Adam Levitin of the Georgetown Law School has proposed to amend the bankruptcy code to allow a distressed...
02/24/2011
News/Resource
The time has come for the creation of a Consumer Financial Protection Agency. For thirty years, Washington has been captive to a governing philosophy that eschewed regulation in almost any form, arguing that the hand of government was best kept behind its back. But the era of deregulated finance...
03/01/2010
Publication
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