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Archive for 'bank of america'
Big Named Banks Partake In Payday Loan Profits
With 12.5 million Americans unemployed and many facing inevitable debt harassment, consumers are turning to online payday loans, often with obscene interest rates in excess of 500 percent, to make ends meet. To the financially strapped, worrying about today has displaced...
Read MoreBank of America Sold Card Debts to Collectors Despite Faulty Records
In a series of 2009 and 2010 transactions, Bank of America sold credit card receivables to an outfit called CACH LLC, based in Denver. Co. Each month CACH bought debts with a face value of as much as $65 million for 1.8...
Read MoreBank of America to Offer Rentals as Foreclosure Alternative
Bank of America says it has begun a pilot program offering some of its mortgage customers who are facing foreclosure a chance to stay in their homes by becoming renters instead of owners. The “Mortgage to Lease” program, which was...
Read MoreCredit Card Companies Respond to Consumer Protection Bill
Credit card companies are taking action ahead of the new Credit Card Consumer Protection Bill that will take effect in February of 2010. The bill was passed in May of this year and limits the ability of a credit card...
Read MoreDebtor’s Revolt: But at What Cost?
Many may be familiar with the YouTube video posted by Ann Minch, a California woman that grew enraged after Bank of America raised her credit card’s interest rate to 30% after she had been a loyal customer for years. The...
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