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federal reserve board

Angry Consumers Flood Federal Reserve Board with Complaints

by Moe Bedard

The message is out to struggling consumers and the Federal Reserve may be sorry they offered a helping hand to the millions of consumers who are drowning in credit card debt and in their homes.

Apparently the Federal Reserve has been inundated with over 8,200 consumer complaints against various banking and lending institutions for credit card abuse and [...]

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Section 5 of the FTC Act – Unfair and Deceptive Mortgages?

by Moe Bedard

Section 5 of the FTC Act Facts : 
The FTC Act provides a comprehensive framework for carrying out the Commission’s law enforcement initiatives. In executing its consumer protection law enforcement responsibilities, the Commission can rely both upon Section 5 of the FTC Act — which prohibits unfair or deceptive acts or practices — and upon a [...]

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Will the FHA Housing Stabilization and Homeownership Retention Act Save Homeowners?

by Moe Bedard

Forbes:
Committee Chairman Barney Frank of Massachusetts has said the bill, the Housing Stabilization and Homeownership Retention Act, could be up for a vote by the House as early as next week.
Under the bill approved today, a voluntary program would be created that would allow the Federal Housing Administration (FHA) to insure up to 300 bln [...]

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Financial Services Committee Approves FHA Housing and Homeowner Retention Act

by Moe Bedard

Washington, DC – {The House Financial Services Committee today approved H.R. 5830, the FHA Housing and Homeowner Retention Act, by a bipartisan vote of 46 to 21.  The legislation, authored by Committee Chairman Barney Frank, will expand the FHA program to help refinance at-risk borrowers into viable mortgages.  The bill also requires the Federal Reserve [...]

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