New Orleans The Federal Communications Commission (FCC) announced with great fanfare a program that would supposedly reduce the “digital divide” between poorer families and the rest of the highly connected rest of the country. Sounds good, but reading the fine print on some of these deals, makes me pretty skeptical, or at least of a [...]
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New Orleans Having written about the need to sever our bad codependency relationship with big banks that are daily picking our pockets, I hopefully popped up the street to the new offices of my local credit union, ASI. I had good reason to do so. Their sister organization is my landlord and ASI originally [...] New Orleans Credit union and community banks report the number of new accounts opening in October rose to by 13 times the normal rate of increase with over 650,000 new accounts since September 29th when Bank of America announced its (now rescinded) larcenous run on their own customer’s bank accounts through debit card fees. [...] New Orleans For not months but years, we have argued for principal reduction as the only realistic response to the foreclosure and homeowner crises in housing, and I have been clear that the main obstacle has been the collaboration between the banks that don’t want to reduce their balance sheets to reflect reality and the [...] New Orleans Early this week H&R Block finally threw in the towel and announced that they would totally discontinue RALs for this coming tax season on 2011 returns. After seven (7) years we can finally count coup on a total victory that once preyed on lower income and desperate families for close to half-a-billion dollars [...] New Orleans On a plane recently the window seat passenger next to me was a regional training manager for the largest consumer credit counseling outfit in America. She told me they were cutting out a huge portion of their low income home counseling efforts because of cutbacks at HUD. A recent article in the New [...] New Orleans Now the Federal Housing Finance Agency has indicated that it will file suit against a gang of giant financial institutions for their sloppy work and lack of “due diligence” in assembling securitization pools of home mortgages. Their aim is to collect billions of dollars that were lost in this way by Fannie [...] |
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