• Home
  • Bankruptcy in Brief
  • ABC’s of Bankruptcy
  • Considering Bankruptcy
  • True Stories
  • Chapter 13
  • Blog
  • About
  • TOC

Northern California Bankruptcy Lawyer

On The Bankruptcy Soapbox

The Soap Box
  • How bankruptcy works
  • Mortgage Matters
  • Consumer Rights
  • Newsworthy
  • You & Your Lawyer
  • Small Business
  • Family Law

Three Giant Banks Fail To Keep Settlement Promises

By Cathy Moran

fail-flickr-nickogibson

Three of the five big banks who settled charges of mortgage lending abuse have failed to live up to their settlement commitments.

Who’s surprised that Bank of America, JPMorgan Chase and Citigroup were each found wanting by the watchdog appointed to monitor their compliance?

Monitor Joseph Smith reported that these banks flunked 7 of the 29 requirements of the National Mortgage Settlement in the first half of 2013.

Interesting also that these results weren’t released until December, 2013.

The settlement monitor takes individual complaints about mortgage servicing by the banks party to the settlement.  More about filing a complaint.

The California Attorney General has appointed a settlement monitor for Californians.  The California Monitor however reports that the five banks subject to the settlement have given out all the relief they were required to provide under the agreement.  Other programs and options may be available.

Contact your loan servicer or a HUD certified housing counselor in California.

Image courtesy of Flickr and Nickogibson.

More from the Soapbox

  • Another voice in the savings chorusAnother voice in the savings chorus
  • Interest rate truth below banker’s blusterInterest rate truth below banker’s bluster
  • Stressed Families Can Take A Card From Trump CasinoStressed Families Can Take A Card From Trump Casino
  • Reduce Your Tax Hit By Filing Bankruptcy Rather Than Settling DebtsReduce Your Tax Hit By Filing Bankruptcy Rather Than Settling Debts
  • $7000 Off The Price Of The Car In Chapter 13$7000 Off The Price Of The Car In Chapter 13

Filed Under: Real property & mortgages

About Cathy Moran

I'm a veteran bankruptcy lawyer and consumer advocate in California's Silicon Valley. I write, teach, and speak in the hopes of expanding understanding of how bankruptcy can make life better in a family's future.

Chapter 13 available to more

About The Soapbox

You've arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said "try").

Here, I allow myself to tell stories and express strong opinions on how I think law should work for the consumer and small businesses when it comes to debt.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

What You Left Out Of Your Bankruptcy Schedules

One of the first questions a bankruptcy trustee will ask you at the hearing in your bankruptcy case is:  did you read the schedules before you signed them? The obvious, and expected, answer is YES. And if your answer is "yes", then the trustee can conclude that you stand behind the information that the … Read more

More Posts from this Category

643 Bair Island Road
Suite 403
Redwood City, CA 94063
Phone: (650) 694-4700
Phone: (650) 368-4700

Categories

All content copyright © Moran Law Group. All rights reserved.