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Citigroup to pay $75 million for failing to disclose subprime mortgage holdings
Thursday, July 29, 2010 � by jg
New York Times: Two Citi executives were also fined a total of $180,000 for dealings in 2007.
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Countrywide reportedly agrees to $600 million class action settlement
Monday, April 26, 2010 � by jg
Los Angeles Daily Journal: Attorneys for Countrywide Financial have reportedly agreed to a $600 million settlement of a federal class action suit filed by investors who claim the company withheld information about the possible impact of a downturn in the housing market.
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Wells Fargo agrees to reduce racial discrimination in lending
Friday, April 9, 2010 � by jg
National Law Journal: The NAACP has dropped a lawsuit against Wells Fargo after the bank agreed to take steps to address racial discrimination in its lending policies.
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Mortgage scams net some jail time
Tuesday, March 23, 2010 � by scott
Prosecutors make some inroads against alleged mortgage scammers.
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Tentative ruling issued in NAACP suit alleging lending bias
Tuesday, February 2, 2010 � by jg
Daily Journal: A California federal judge intends to throw out a claim that a major national bank discriminated against blacks applying for mortgages during the recent housing boom.
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Ameriquest settles predatory lending suits, but there’s not much money left
Thursday, January 28, 2010 � by jg
What was once the nation’s largest subprime lender has pledged $22 million to repay aggrieved borrowers and their lawyers.
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Bowed but far from broken, big banks still hold sway
Monday, November 16, 2009 � by eric
Financial institutions, including several banks that received taxpayer bailouts, spent almost $4.01 million on lobbying in Sacramento in the first three quarters of the year as they sought to blunt legislation to rein them in. The industry successfully blunted and blocked several bills intended to provide consumer protections and halt abuses that led to the worst recession since the Great Depression.