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U.S. Bank, N.A. “as Trustee” Facing Sanctions In Miami — Livinglies’s Weblog

“It’s unusual that we’re in this position, but it’s unusual that any bank would dare do what they’re doing and think they are above the law like this.” – Bruce Jacobs, Miami Foreclosure Defense Lawyer. Kudos to Jacobs for doing some real lawyering. It is all in the details. Just assume they don’t have the…

via U.S. Bank, N.A. “as Trustee” Facing Sanctions In Miami — Livinglies’s Weblog

That is good news that at least one judge is sick and tired of the big banks acting like they are above the law and can ignore court orders.  More judges need to do what this judge is doing.

Why Is the Fed Paying So Much Interest to Banks? — WEB OF DEBT BLOG

“If you invest your tuppence wisely in the bank, safe and sound, Soon that tuppence safely invested in the bank will compound, “And you’ll achieve that sense of conquest as your affluence expands In the hands of the directors who invest as propriety demands.” — Mary Poppins, 1964 When Mary Poppins was made into a […]

via Why Is the Fed Paying So Much Interest to Banks? — WEB OF DEBT BLOG

That is outrageous that the Federal Reserve is paying the big banks $36 billion dollars per year in interest. The big banks are paid 2.4% for parking their reserves with the Federal Reserve while the big banks only pay about 0.10% on the average savings account.

Wall St. traders secretly used chat rooms to rig Treasury bond prices: suit

In my personal opinion the big banks and the rest of Wall Street are rigging the gold market as well in addition to most of the other markets.

Justice League

Wall Street banks secretly shared client information in online chat rooms in order to rig auctions for the $14 trillion US Treasurys market, according to an explosive lawsuit filed in Manhattan federal court on Wednesday.

The move wrongly fattened the banks’ profits and picked profits from clients, the suit claims.

The new accusations, leveled by several pension funds and wealthy individual investors, are contained in an expanded class-action suit originally filed in July 2015 — and include an unusual twist: Some of the evidence came from confidential informants and one of the banks sued in the earlier action.

Read on.

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JPMorgan Says Family Awarded $8 Billion Verdict Deserves Nothing — Justice League

JPMorgan Chase & Co. urged a judge to throw out a stunning $8 billion jury verdict over a mismanaged inheritance, saying the family deserves nothing. “The law and evidence do not support any claim against JPMorgan, much less the unprecedented multi-billion-dollar punitive damage award, which the heirs have already admitted is unconstitutionally excessive,” the bank said in a […]

via JPMorgan Says Family Awarded $8 Billion Verdict Deserves Nothing — Justice League

If I lived in the State of Texas and wanted to sue a big bank or another large corporation I would find out the names of the lawyers that represented the heirs in this case as they did a fantastic job.

 

Banks make money on settlements too-Livinglie’s Weblog

If you are waiting for one of those “settlements” to mean something before your home goes up for auction, don’t hold your breath. Relief is not coming. The “simple” truth is that the investor is interested in the debt (i.e., the money owed by you) but everyone else is only interested in the paper. If […]

via Banks Make Money on Settlements Too — Livinglies’s Weblog

Contact your senators and ask them to vote against Senate Joint Resolution 47

Call Your Senators; Tell Them NOT to Take Away Your Day in Court Against Big Banks Focus Area: Forced Arbitration For too long, Wall Street lawyers and lobbyists have used a secret tactic, fine print contracts, to take away Americans’ constitutional right to go to court. After more than five years of studying and working […]

via Don’t Give the Big Banks Another Sneaky Victory. Call McCain and Flake. — Findsen Law

Policy Changes aka eNotes are Here! New Paragraph 11 in Promissory Notes. — Deadly Clear

We’ve discussed UETA and eSign and the significance of explicit consent…in most cases pre-2008…there isn’t any. Here is a Indiana case that is riveting: Good v. Wells Fargo. Read it HERE. In this case, Bryan Good stated that in this 2008 transaction there were apparently 2 notes. Wells Fargo asserts that Good signed an eNote […]

via Policy Changes aka eNotes are Here! New Paragraph 11 in Promissory Notes. — Deadly Clear

 

Ocwen responds to Qualified Written Request

So you have sent a QWR (hopefully a good one that qualifies as a Qualified Written Request or Debt Validation Letter) and Ocwen responds with a shotgun approach intended to intimidate the lawyer or homeowner who reads it. I recently did an anlysis and drafted a potential response for another lawyer representing a homeowner. I […]

via Response to QWR Response from Ocwen Re US Bank as Trustee of….hmmmm — Livinglies’s Weblog

Wells Fargo is being sued by mortgage borrowers

More problems for Wells Fargo: Wells Fargo Bank has been hit with a proposed class action accusing it of collecting tens of millions of dollars from Texas borrowers who paid off their mortgages early without providing required disclosures about how to avoid the charges. Filed on Tuesday in Oakland, California federal court, the lawsuit said […]

via Borrowers sue Wells Fargo over paid-off mortgage interest — Justice League

Spanish bank Banco Popular has collapsed

Editor’s Note: The collapse of Spanish megabank Banco Popular happened this month after government and regulators assured investors it had passed a stress test with the European Banking Authority. The failed bank was taken over by Santander, another megabank, but the shareholders lost everything as did the suppliers of contingent capital in the coco bonds. […]

via Too Big to Fail, Not too soon to Tell — Livinglies’s Weblog

This article is just more proof that you cannot trust any big bank, or any supposed government banking regulators. Nothing will change until they start jailing the top executives of the big banks after they have had to do the “perp walk” on live nationwide television.

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