As the federal government prepares to launch a $349 billion loan program meant to help small businesses survive the coronavirus pandemic, critics have growing concerns that many mom-and-pop shops might get squeezed out.
Read moreThe Senate is nearing passage of a roughly $2 trillion economic support bill responding to the coronavirus outbreak that includes direct payments to most Americans, as well as hundreds of billions of dollars for small businesses and industries affected by the pandemic.
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Beginning Wednesday, French firms facing a cash crunch will be able to get low-interest loans to help tide them over during the coronavirus crisis, the head of the nation’s banking association said.
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JPMorgan Chase & Co. will no longer do business with coal companies and will restrict financing to companies that drill in the Arctic, the company said Tuesday.
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At the height of the 2008 economic collapse, then-New York Mayor Michael Bloomberg said the elimination of a discriminatory housing practice known as redlining was responsible for instigating the meltdown.
Read moreThe Ninth Circuit affirmed a contempt sanction against Ocwen Loan Servicing in a case brought by debtors who claim they suffered severe emotional distress by receiving letters and phone calls from the company about the home they had abandoned to foreclosure before filing for bankruptcy. A bankruptcy court had concluded the company violated the debtors’ discharge injunction.
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The city of Oakland should not be allowed to sue Wells Fargo under the Fair Housing Act over lost property tax revenue from the foreclosures it attributes to the bank’s discriminatory mortgage lending practices, an attorney for the bank told the Ninth Circuit on Monday.
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A Russian firm is suing France’s far-right National Rally party, led by Marine Le Pen, for failing to repay a multimillion-euro loan, court documents show.
Read moreCalifornia Gov. Gavin Newsom signed a bill Wednesday allowing local governments to form local or regional banks to provide infrastructure funding and lending to local institutions not already being serviced by other banks.
Read moreFederal prosecutors claim Lakeway Regional Medical Center, et al., of Texas, cost the Department of Housing and Urban Development $172 million by “conspir(ing) to make numerous false statements and material omissions during the application process,” for a loan to open a hospital, which failed and defaulted.
Read moreLodging his second federal complaint from behind bars Friday, former pharmaceutical wunderkind Martin Shkreli is taking aim at a man who testified against him at his securities fraud trial.
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China’s central bank Friday announced it was cutting the reserve requirements for banks, in a bid to boost lending and bolster the slowing economy.
Read moreReversing, a California appeals court found that Wells Fargo’s mortgage modification contract was ambiguous, as the borrower claims, about the bank’s ability to demand a balloon payment after completion of the temporarily lowered mortgage payments.
Read moreA federal judge refused to dismiss a lawsuit Sacramento filed against Wells Fargo bank, accusing it of offering bad, misguided loans to minority homebuyers during the Great Recession, thereby denying the city tax revenue.
Read moreThe Federal Housing Administration will now back more loans for Americans interested in buying their first condominium, after announcing new guidelines Wednesday for the types of insurable financing.
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