U.S. banks have taken another step to clear away the wreckage of the 2008 financial crisis by agreeing to pay $8.5 billion to settle charges that they wrongfully foreclosed on millions of homeowners.
At a hearing in North Carolina Tuesday, intended to start the process of writing rules to govern the rapidly expanding industry, Consumer Financial Protection Board Director Richard Cordray warned about the high fees that catch many consumers by surprise.
Wells Fargo customers in six states who had free checking accounts will pay $7 a month starting in May.
Dozens of clergy members and community activists rallied today outside the headquarters of Wells Fargo Bank in San Francisco in protest of what they say is rampant foreclosure abuse.
The five largest mortgage lenders have reached a $26 billion settlement with 49 states, including California, over foreclosure abuses that took place after the housing bubble burst, federal officials announced Thursday.
Activists have marked Saturday, November 5th as Bank Transfer Day. With more than 40 dedicated Facebook pages, thousands of YouTube videos, and a top trending topic on Twitter, Bank Transfer Day seems to have everyone talking.
Wells Fargo & Co. on Monday said that its third-quarter profit jumped 21 percent, as write offs of bad loans dropped while deposits grew.
With more and more Bay Area residents relying on check cashing places for their financial services, rather than traditional banks, several non-profit organizations are stepping up to provide low-cost services for those living paycheck-to-paycheck.
The federal government on Wednesday ordered 16 of the nation’s largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon.
California customers of Bank of America Corp. were again having problems accessing their accounts online Tuesday.