Search Results for: mortgages

I, as a white woman, have bit by bit come to understand how racism is at the heart of much of our legislation and has been for all of our history. As a young person in the late 60’s I thought that changing our laws could create equality. As a Catholic Sister dedicated to social [...]

The US Senate approved a bill on Wednesday that will ease restrictions on emergency small business loans. HR 7010, or the “Paycheck Protection Program Flexibility Act of 2020,” would amend the Small Business Act and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). It would extend the covered loan period from eight weeks [...]

Disinformation occurs when false information is sent with an intention to deceive, while misinformation occurs when false information is sent without an intention to deceive. This commentary notes that tardy official communication of policy promotes disinformation and misinformation. Further disinformation can arise from a lack of opportunities for public participation in policymaking. Resolving these problems [...]

In light of the economic outlook during the COVID-19 outbreak, the availability of credit in the market will decide the sustainability of a country. India has taken caution to combat “opportunistic takeovers/acquisitions” by tightening its foreign direct investment (FDI) rules for all border-sharing nations. This has particularly affected China, due to its major role in [...]

The US House of Representatives passed a $480 billion dollar bill (HR 266) Thursday to assist small businesses during the COVID-19 pandemic. The bill was passed by the Senate on Tuesday and will now move on to be signed by President Donald Trump. The bill amends the Paycheck Protection Program (PPP), which was originally passed [...]

The Massachusetts Senate on Friday approved a bill that imposes a moratorium on foreclosures and evictions during the COVID-19 pandemic. The bill was then sent to Governor Charlie Baker for approval. “ purposes, which are to establish forthwith a moratorium on evictions and foreclosures during the governor’s COVID19 emergency declaration … necessary for the immediate [...]

The Federal Reserve announced on Monday it is taking several steps to enhance access to credit and liquidity for consumers, municipalities, and small and large businesses. In its statement, the Federal Reserve said, “While great uncertainty remains, it has become clear that our economy will face severe disruptions. Aggressive measures must be taken across the [...]

Wells Fargo has entered into a $3 billion agreement with the United States Department of Justice (DOJ) and the United States Securities and Exchange Comission (SEC) in an investigation over fraudulent sales practices. In return, the DOJ and SEC have agreed to drop criminal charges and resolve a pending civil investigation. The investigations uncovered millions [...]

The Consumer Finance Protection Bureau (CFPB) filed a suit on Thursday against 26 defendants involved in a student loan repayment scam affecting more than 8.5 million consumers. The suit is against Monster Loans and a “sham entity” known as Lend Tech that unlawfully obtained consumer reports from the consumer-reporting agency Experian (not included in the [...]

Justice Maxwell Wiley of the Supreme Court of New York on Wednesday granted Paul Manafort’s motion to dismiss an indictment from March that charged him with crimes of residential mortgage fraud, falsifying business records and scheming to defraud. Manafort, President Donald Trump’s former campaign chairman, had already been charged with the same crimes at the [...]