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Banks Win Reprieve on Home Equity Loans in Settlement

Published on February 29, 2012 By admin

The following article is brought to you by Kathleen M. Howley at Bloomberg.Com. Bank of America Corp. (BAC), Wells Fargo & Co. (WFC) and three other banks that settled a nationwide probe of foreclosure practices this month will get a bonus from the deal: protection for $308 billion of home-equity loans they hold. The banks […]

JPMorgan Chase Loses Court Bid to End Consumers’ Home-Equity Line Lawsuits

Published on July 2, 2011 By admin

The following article is brought to you by Andrew Harris at Bloomberg. JPMorgan Chase & Co. (JPM) lost a bid for dismissal of a lawsuit in which consumers accused the second- biggest U.S. bank of wrongly cutting home-equity lines of credit. U.S. District Judge Rebecca Pallmeyer in Chicago today ruled the homeowners could go forward […]