Wilmington Trust Corp., the only financial institution to be criminally charged in connection with the federal bank bailout program, reached a $60 million settlement with prosecutors Tuesday just as the corporation and four former top executives were set to go to trial on bank fraud charges. “The bank being removed from the case has really upset the strategy and planning and preparation for the …
A Philadelphia businessman has won a series of court rulings that could clear the way for long-delayed lawsuits seeking more than $70 million against U.S. Bank, which he claims destroyed his company in a dispute over unpaid loans. The cases involve as much as $12 million that businessman Maury Rosenberg owed the bank, which through an affiliate loaned money to his company, National Medical …
A student loan giant has agreed to suspend collection activities on the debt of certain borrowers who filed for bankruptcy, providing at least temporary relief for potentially thousands of people and signaling that there may be a viable path to discharging some student debts in bankruptcy. As part of an ongoing class-action lawsuit filed against student loan servicer Navient, the company has …
Last week, the Trump administration issued its first policy on student loans. As a result, loan guarantee agencies that collect on defaulted debt can charge borrowers …
Ygrene Energy Fund has been sued in a potential class-action complaint that alleges the Santa Rosa company deceived customers about the costs and difficulties linked to its financing for home energy improvement projects. The federal lawsuit alleges the company misled clients in California and Florida by suggesting they wouldn’t have to pay off their Ygrene financing …
The Justice Department can pursue its controversial fraud case against Detroit-based mortgage lender Quicken Loans, a judge ruled Thursday, but he substantially narrowed the time frame covered by the suit. In the first major ruling since the case reached a Detroit courtroom, U.S. District Judge Mark A. Goldsmith denied …
A judge on Thursday ruled that a lawsuit over questionable loan practices filed by the federal government against Quicken loans can proceed. The federal government claims, among other things, that Quicken Loans Inc. intentionally altered information or overlooked problems with loan applications in order to issue hundreds of thousands of government-backed mortgages. If loans met a …
On Wednesday, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Navient, the largest student loan servicer in the country. If you have a student loan, there is a good chance that it may be serviced by Navient. Navient, which spun off from Sallie Mae, has more than 12 million customers and services more than $300 billion of government and private student loans. Here is what you need to know and the action that you can take …
A government lawsuit against Detroit-based Quicken Loans Inc . will move to the mortgage lender’s hometown, a federal judge ruled Monday, after finding that the Washington, D.C., connection to Quicken’s practices was too “insubstantial” to keep the case there.
After just three months as president of Impact Ventures, the parent company of TNA Wrestling, Billy Corgan is out and engaged in a lawsuit over loans he paid the league that have not been paid back. On Thursday (Nov. 3), TNA issued a press release announcing new funding and as, Consequence of Sound reports, it also notes that “Billy Corgan is no longer with the company.” The Smashing Pumpkins …