GMAC, which is a unit of Ally Bank, has hired a number of accounting and legal firms to go over its foreclosure procedures.
Continue reading GMAC Will Review Foreclosures in All 50 States
GMAC Wi…
China ordered state-owned banks to limit lending as it moves to control inflation and prevent a credit bubble.
The Chinese government told the six largest state-owned banks to increase their reserves to 17.5% of deposits from 17%, The Associated Pres…
Attorneys general in dozens of states plan to launch a joint probe into charges that banks used bogus paperwork to evict borrowers from their homes.
The investigation will go after charges that lenders including GMAC, JPMorgan Chase (JPM) and Bank of America (BAC) forged documents and faked social security numbers in order to foreclose on homes, The New York Post said.
Bank of…
Continue reading Attorneys General May Launch Foreclosure Investigation
Attorneys General May Launch Foreclosure Investigation originally appeared on DailyFinance on Mon, 11 Oct 2010 07:35:00.
Filed Under: Company News, Economy, JP Morgan Chase, Bank of America, Real Estate, Taxes, Credit
Authorities in the U.S. and U.K. charged or arrested more than 100 people in relation to an alleged multi-million dollar cyber scam to steal bank account information and pilfer people’s money.
Between May 2009 and last month, at least $3 million was taken from U.S. accounts, U.S prosecutors said, according to the Wall Street Journal.
In London, U.K. authorities arrested 19 people in…
Continue reading U.S., U.K. Authorities Go After Alleged Cybercrime Operation
U.S., U.K. Authorities Go After Alleged Cybercrime Operation originally appeared on DailyFinance on Fri, 01 Oct 2010 08:09:00.
Filed Under: Technology, Media, JP Morgan Chase
Not long ago, DailyFinance’s Hugh Collins — a 28-year-old, Dublin-born U.S. resident — had yet to experience a truly American phenomenon: owning a credit card. Once he finally secured one, though, he quickly discovered the im…