New Orleans Refund Anticipation Loans or RALs are a product that have preyed on lower income worker families since their inception and promotion by the big tax preparers, H&R Block, Jackson-Hewitt, and Liberty, as well as smaller fry who could get access to credit. Negotiating with these companies could get depressing when I worked with …
Tag: jp morgan chase
Bank Conflicts of Interest on Foreclosures and Modifications
New Orleans My god, pinch me! Unbelievably the august New York Times in its editorial today has bellied up to the right side of the bar in pointing out the obvious and long noted (including by me!) conflicts of interests enjoyed by banks in the foreclosure game where they often pretend to be chicken, but …
Principal Reduction Versus Arrogant Banks
New Orleans From the day the latest foreclosure modification plan as announced several weeks ago, and it became clear that banks saw their participation as voluntary, I said this was not going to work. The government orchestrated immediate acceptance by their subsidiaries, Citi and Bank of America, but as surely as I predicted that was …