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Showing blog posts tagged with mortgage fraud

Here’s What We’re Reading: Friday News Roundup

Here’s What We’re Reading: Friday News Roundup

Here are some headlines from the working families’ news we're reading today (after the jump).

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100 Days to Fix What Wall St. Broke: Painful to See American Dream 'Rot Away'

100 Days to Fix What Wall St. Broke: Painful to See American Dream 'Rot Away'

Wall Street wrecked the economy and banks still are refusing to work with people who are trying to stay in their homes. The Campaign for a Fair Settlement, along with other partners, is calling on President Obama over the next 100 days to champion an agenda that would:

1. Hold bankers accountable for their crimes.

2. Keep people in their homes by resetting their mortgages.

Sign the petition here

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Diane McCloud shared her story about her home underwater. Read more from 100 Stories of What Wall Street Broke:

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Big Banks Agree to Settle Charges of Foreclosure Abuse

Illustration by outacontext/Flickr

Ten of the nation’s largest banks agreed earlier this week to settle charges of foreclosure abuse with federal regulators. After the housing bubble burst, banks allegedly processed foreclosures improperly and mishandled homeowners’ applications for mortgage modifications. The resulting foreclosure crisis hurt all working families. Homes lost value, especially in communities of color that were among the hardest hit.

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Trumka Applauds Schneiderman Lawsuit Against Bear Stearns

Photo by Benjamin Dumas.

In an era when the rich and powerful line their own pockets at the expense of workers, homeowners and investors, New York State Attorney General Eric Schneiderman is striking a blow for accountability and equal justice, says AFL-CIO President Richard Trumka. 

Schneiderman just filed a lawsuit against Bear Stearns alleging that the former investment bank created fraudulent mortgage-backed securities.

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Demand Strong Mortgage Abuse Settlement with Big Banks

Tell your state attorney general to demand real accountability from the Big Banks for the collapse of the housing market by clicking here. The action, sponsored by the AFL-CIO community affiliate, Working America, comes as state and federal officials are negotiating a settlement with the Big Banks for their role in driving the U.S. economy into a ditch and often recklessly defrauding consumers seeking mortgages.

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