There are new statutory protections in place that will further protect consumers in mortgage and debt collection matters. Read below for a general overview of these protections. Mortgage Servicing/Foreclosures This month substantive amendments to regulations...
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UPDATE: DATA BREACH: 70 – 110 million Target card accounts affected since Black Friday
Update: The retail giant Target confirmed that it has identified a severe data breach that may have affected 70 - 110 million credit and debit card accounts used by consumers prior to Black Friday weekend and after in retail stores nationwide. This is an increase...
Mortgage giant Ocwen to pay $2.1 billion in settlement, at least $9.4 million in Alabama
The Alabama Attorney General's office has recovered at least $9.4 million in a multi-state settlement with one of the country's largest mortgage companies, Ocwen Financial Corporation. Alabama joined 48 other states, the District of Columbia and the Consumer...
1 out of every 14 Americans are victims of ID Theft
According to a recent AP report, a study by the government found that 1 out of every 14 Americans 16 years or older was a victim of identity theft. According to a national household survey of 70,000 people by the Bureau of Justice Statistics, identity theft resulted...
Alabama debtor protections are weak, and Mobile lawyer wants changes.
By Alex Walsh awalsh@al.com A recent report that gave Alabama an "F" for the legal protections it affords consumers with debt failed to surprise one Mobile attorney. James Patterson is with Underwood & Riemer, PC, a firm that often defends consumers who find...
Have debt? Good luck: Alabama home to nation’s weakest debtor protections, report says
By Alex Walsh | awalsh@al.com http://blog.al.com/wire/2013/10/have_debt_good_luck_alabama_ho.html Alabama law contains only a few weak protections for its residents that find themselves with significant amounts of debt, a new report shows, making it one of the worst...
Credit data giant Experian tangled in ID theft case
An investigation of an alleged Vietnam-based identity theft ring has dragged in the credit reporting firm Experian and rekindled a congressional effort to force companies to reveal how they use Americans’ personal and financial data. The scam allegedly resulted in the...
Bank of America loses fraud trial over shoddy mortgages
Bank of America was found liable for fraud this week over defective mortgages sold by its Countrywide unit, a major win for the U.S. government in one of the few trials stemming from the financial crisis. After a four-week trial, a federal jury in New York found the...
Wells Fargo hit with $3.1 Million verdict for wrongful forelcosure
If you have an insurance policy through your mortgage company, it might not actually pay off the mortgage after you pass away...unless you get a lawyer and fight. James Dollens purchased a home in 2003 with a loan from Wells Fargo. In 2010, he died accidentally at...
Woman wins $18.6 million for two-year battle over credit report
A federal jury in Oregon awarded $18.6 million to a woman who spent several years in a futile attempt at trying to get Equifax Information Services to correct major mistakes on her credit report. Julie Miller of Marion County was awarded $18.4 million in punitive...