A warning to debt collectors: Back off(MoneyWatch) The Consumer Financial Protection Bureau is going after banks and other lenders that lie to consumers when trying to collect on loans. Yesterday it published new guidelines for financial institutions as well as letters consumers can send to banks they feel are being abusive.

Bank of America accused of racketeering in lawsuitA lawsuit in federal court in Colorado accuses Charlotte-based Bank of America of racketeering, in what amounts to more fallout for the bank stemming from a federal mortgage-modification program. The suit, filed Wednesday, claims violations of the federal Racketeer Influenced and Corrupt Organizations Act, also known as RICO.

Hagens Berman: New Lawsuit Filed for Bank of America Homeowners Seeking ModificationsHagens Berman Sobol Shapiro LLP, a national consumer-protection law firm, has filed a class action lawsuit alleging that Bank of America (NYSE:BAC) created and headed an illegal enterprise designed to defraud homeowners seeking loan modifications as part of the government’s Home Affordable Modification Program, or “HAMP.”

PartnerFirst BlogI called to ask about HAMP and transferred to a refinance loan officer … He told me over and over that it was a waste of my time to pursue and he knew nothing about me or my situation. Bank of America did all of these things to me and my family while I fought to keep our home!

Bank of America Faces Debt Collection Harassment Class Action LawsuitNew York, NY: A class action lawsuit has been filed against Bank of America (BoFA) by a Florida resident, over allegations America’s biggest bank is in violation of the federal Telephone Consumer Protection Act (TCPA) and the Florida Consumer Collection Practices Act. Filed by Broward County resident Marc Katz, the lawsuit, entitled, Marc Katz v.

Bank of America Ordered to Face Texas County’s Suit Over MERSBank of America Corp ( BAC). must face lawsuit claims brought by a Texas county over government fees it avoided by using Merscorp Inc. to track property transactions, a federal judge ruled. U.S.

Bank of America suit under scrutiny of settlement watchdogClaims by former Bank of America employees that they were offered incentives to deny mortgage modifications have caught the attention of the national mortgage settlement’s monitor. Joseph Smith, who oversees the $25 billion settlement reached last year with 49 states and five major banks, including Bank of America, said he’s examining a lawsuit in federal court in Massachusetts for any evidence that the bank violated the agreement.

New Bank of America whistle-blower emerges: More customer abuse secretsLast week, I detailed bombshell revelations from Bank of America whistle-blowers, in which former employees of the bank detailed systematic fraud and deceptive practices inside their loan modification department – including bonuses and Target gift cards for staff who racked up foreclosures.

Banks Could Face New Mortgage Lawsuits As Fresh Losses Emerge For InvestorsIf a recent review of several troubled mortgage-backed securities is to be believed, investor woes originated from these securities in the run-up to the economic downturn of 2008, may be far from over.

Bank of America shareholder wants probe of mortgage-aid decisionsAn institutional investor is calling on Bank of America CEO Brian Moynihan and the bank’s board to investigate allegations from former employees that they were encouraged to deny homeowners seeking mortgage modifications under a federal program.

How Bank of America Corp (BAC) Defrauded AmericaDid Bank of America Corp (NYSE:BAC ) enrich itself by defrauding potentially millions of homeowners who requested loan modifications under the 2009 Home Affordable Modification Program, or HAMP? Yes, or at least that’s what six of its former employees are claiming in a class action lawsuit being waged in a Massachusetts federal court.

The Last Mystery of the Financial CrisisWhat about the ratings agencies? That’s what “they” always say about the financial crisis and the teeming rat’s nest of corruption it left behind. Everybody else got plenty of blame: the greed-fattened banks, the sleeping regulators, the unscrupulous mortgage hucksters like spray-tanned Countrywide ex-CEO Angelo Mozilo. But what about the ratings agencies?

‘We were told to lie’ – Bank of America employees open up about foreclosure practicesEmployees of Bank of America say they were encouraged to lie to customers and were even rewarded for foreclosing on homes, staffers of the financial giant claim in new court documents. Sworn statements from several Bank of America employees contain a number of damning allegations, the latest claims entered as evidence in a multi-state class action lawsuit that challenges the bank’s history with foreclosures.

Bank of America whistle-blower’s bombshell: “We were told to lie”Bombshell: Bank of America whistle-blowers detail horrid schemes to fleece borrowers, reward foreclosures (UPDATED) Topics: Bank of America, Foreclosure, Mortgage Crisis, Mortgage Fraud, mortgage, HAMP, Whistleblowers, Editor’s Picks, Loans, JP Morgan Chase, Wall Street, Business News, Politics News Bank of America’s mortgage servicing unit systematically lied to homeowners, fraudulently denied

Bank of America Paid Bonuses to Foreclose: LawsuitBank of America routinely denied qualified borrowers a chance to modify their loans to more affordable terms and paid cash bonuses to bank staffers for pushing homeowners into foreclosure, according to affidavits filed last week in a Massachusetts lawsuit. “We were told to lie to customers,” said Simone Gordon, who worked in the bank’s loss mitigation department until February 2012.

Former Bank of America workers allege it lied to home ownersSix former Bank of America Corp. employees have alleged that the bank deliberately denied eligible home owners loan modifications and lied to them about the status of their mortgage payments and documents. The bank allegedly used these tactics to shepherd homeowners into foreclosure, as well as in-house loan modifications.

Lawsuit: BofA gave bonuses, gift cards for meeting foreclosure quotasNEW YORK Bank of America Corp. rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents. Mortgage workers falsified records and were told to delay U.S.

Florida AG: Bank of America has ‘Systemic Problems’ with Mortgage Settlement RulesFlorida’s Attorney General said complaints against Bank of America are revealing patterns of “systematic” rule violations under the National Mortgage Settlement, including lengthy delays in providing loan modifications and sending state officials “litigation letters.” Florida Attorney General Pam Bondi also indicated that the state would consider a lawsuit if corrective actions are not taken by Bank of America through the settlement’s established procedures.

Fracking Companies Silence Water Complaints With Sealed SettlementsChris and Stephanie Hallowich were sure drilling for natural gas near their Pennsylvania home was to blame for the headaches, burning eyes and sore throats they suffered after the work began. The companies insisted hydraulic fracturing – the technique they used to free underground gas – wasn’t the cause.