JPMorgan Chase Robo-Signed, Trashed Documents in Collection of Credit Card Debts

By: Tuesday March 13, 2012 2:45 pm

Hey, remember when JPMorgan Chase abruptly suspended all their debt collection court cases a couple months ago? Now we’re learning more about the problems in their debt collection arena. And surprise, we have more robo-signing! The abuses are so bad that even the bank-friendly Office of the Comptroller of the Currency has been roused to investigate, but when were they going to tell the public?


60 Minutes Loses Credibility on Congressional Insider Trading Story

By: Monday November 14, 2011 12:50 pm

I found last night’s 60 Minutes story on insider trading in Congress to be uneven, partially underwhelming and at times outright misleading. That Congress has access to insider information and can trade on that information is true, but some of the examples CBS cited were weak or unconvincing.

Warren Confronts Financial Services Roundtable with Their Own Idea for Consumer Protection

By: Thursday September 30, 2010 7:01 am

Newly minted Assistant to the President and Special Advisor to Treasury Elizabeth Warren, known for her combative stance against the predatory practices of the big banks and lenders, opted for a conciliatory speech in the proverbial belly of the beast. She sought common ground at the Leadership Dinner of the Financial Services Roundtable on the consumer protections she will help shape for the new bureau created as part of the Dodd-Frank law.

Health Care Reform: Fix It in Conference Committee? Maybe Not

By: Monday December 7, 2009 3:10 pm

Greg Sargent reports, it’s highly likely that there will be no conference committee, with the House expected to accept whatever the Senate passes.

Republicans Move to Permit Credit Card Companies to Jack Up Their Rates for the Next Several Weeks

By: Wednesday November 18, 2009 7:39 pm

Today, on the Senate floor, Republicans objected to a motion by Chris Dodd (D-CT) to immediately take up a bill to move up the effective date on the CARD Act, which was passed several months ago. In the intervening time, credit card companies have been jacking up their rates in what Dodd described as “a last-ditch attempt” to pad their profits until all of the provisions of the CARD Act, which prevents arbitrary interest rate, fee and finance charge increases on existing balances, take effect. The bill Dodd sought would have frozen all rates, charges and fees until all of the CARD Act’s provisions became law. It would also have reduced rates for every cardholder who saw arbitrary rate increases in 2009.

Economic Dictatorship

By: Thursday June 19, 2008 10:58 am

This is really frightening. First, America’s workers lose their homes. Or the equity in their homes, or their ability to take out second mortgages to pay for unexpected expenses like health care crisis. So they turn to credit cards. Now, those cards increasingly are maxed out.
What’s left?
Retirement funds.
Remember back when 401(k) plans were introduced as the promised land of personal control over our retirement destiny?

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