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Payday Lenders Cut Slack While Charging More Interest Than the Mob

By Jacobs Legal |

Recently, the New York Attorney General’s Office announced indictments of nearly a dozen individuals tied to an alleged organized crime family for engaging in broad scale illegal loansharking. The long-term investigation reportedly uncovered “the largest” loan sharking operation ever investigated by the agency, with defendants allegedly saddling victims (lured in by an illegal gambling… Read More »

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Report: Wells Fargo Tipped Off to Federal OCC Investigation

By Jacobs Legal |

A high-level federal examiner at the Office of the Comptroller of the Currency reportedly leaked information to Wells Fargo about the existence of an investigation – something that is strictly forbidden. Debt defense attorneys in Miami know that this kind of disclosure means the bank could have taken measures to protect itself from criminal… Read More »

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ACLU: Courts are Arresting, Jailing Consumers at Behest of Private Debt Collectors

By Jacobs Legal |

America’s criminal justice system is being used to enforce private debts. That’s according to a new in-depth investigation by the American Civil Liberties Union (ACLU) into the extent and impact of courts cooperating with the private debt collection industry in the U.S. In “The Criminalization of Private Debt,” the ACLU reports that courts in… Read More »

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Consumer Protection Agency Needs New Leader, Not New Mission

By Jacobs Legal |

Over the last several months, the authority and drive of the Consumer Financial Protection Bureau has been eroded piece-by-piece. Recently, The New York Times reported the agency’s pursuit of predatory payday lenders relaxed considerably amid intense lobbying of the industry to this administration. In just two months, hundreds of lobbyists from the industry will… Read More »

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Miami Debt Defense Attorneys: War on Regulation Only Hurts Consumers

By Jacobs Legal |

While Americans are “drowning in debt,” the White House is waging a war on regulation that is ultimately going to push even more consumers into greater debt and higher rates of poverty. Although these plans are touted as part of a pro-business agenda intended to spur economic growth, our Miami debt defense attorneys recognize… Read More »

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Judge: Will Not Vacate Foreclosure Ruling Against Bank of America

By Jacobs Legal |

A federal bankruptcy judge who took Bank of America to task for its treatment of homeowners in a foreclosure case refused to rescind his scathing opinion in which he called the bank “heartless” for its conduct, despite the bank’s agreement to settle if the judge did so. In Sundquist v. Bank of America, the… Read More »

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OCC: Wells Fargo a “Repeat Offender” Against Consumer Rights

By Jacobs Legal |

A recent letter from the Office of the Comptroller of the Currency slams Wells Fargo & Co., and warns it may be taking federal enforcement action against the financial institution for a host of wrongs in its mortgage and auto insurance operations. The Wall Street Journal reports the federal regulator, in a letter submitted… Read More »

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Equifax Breach Effects Being Felt By Consumers

By Jacobs Legal |

Stolen consumer data from Equifax is reportedly being used by criminals, who heisted the information to apply for student loans, credit cards and even mortgages. The Chicago Tribune reports a class action lawsuit alleges this, as well as individuals using the compromised information to tap into consumer’s bank accounts, file claims with insurers, steal… Read More »

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Student Loan Debt Leaves Workers Unable to Make a Living

By Jacobs Legal |

Student loan debt has reached astronomical highs in recent years, and now, The New York Times is reporting on a phenomenon that’s making it even harder for borrowers to keep up. In 19 states, when you fail to keep up with your student loan payments, government agencies can seize state-issued professional licenses. In a… Read More »

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Report: Banks Put Off Foreclosures to Influence Opinions, Action on Dodd-Frank

By Jacobs Legal |

Researchers from The Ohio State University, Rutgers University, the Chicago Fed and Georgetown University have concluded banks are attempting to influence voters’ opinion of the Dodd-Frank Act, hoping to discredit the truth: That the financial reform measure has been great for consumers. It’s also opined the banks are seeking to influence Congressional action on… Read More »

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