It’s still not clear how many of the uncashed checks were delivered to the wrong address, though regulators via Rust Consulting, the paying agent, have reissued more than 850,000 checks since autumn.
Is PayPal making a move to establish its own virtual currency? It seems to be much more than a possibility — more of a probability — based on a patent application by eBay, the parent company of payment services giant PayPal.
Since 2007, the federal Mortgage Debt Relief Act has helped distressed homeowners who have had mortgage debt forgiven after a foreclosure, short sale, or loan modification. The law made it possible for these homeowners to exclude the forgiven debt from their calculation of taxable income, saving them thousands, or even tens of thousands of dollars, in taxes that could have been owed.
After media reports surfaced Wednesday of a massive breach of customer accounts, Target Thursday confirmed that it is aware of “unauthorized access to payment card data that may have affected certain guests making credit and debit card purchases” in its U.S. stores.
If this “web cash” system — as JPMorgan Chase calls it — seems familiar, it should. It smacks of the peer-to-peer transactions of bitcoins and other cryptocurrencies that increasingly are making the world’s biggest banks uneasy about the future of e-commerce.
The wealthiest 400 Americans are worth more than $2 trillion, says host Charlie Rose on tonight’s 60 Minutes segment focusing on “The Giving Pledge” campaign led by Warren Buffett and…
A jury this week found a top executive at Bank of America’s Countrywide unit, Rebecca Mairone, liable for at least some of the fraud related to selling bad mortgages. That executive went on to work on the Independent Foreclosure Review for JPMorgan Chase.
Two huge settlements with the biggest U.S. banks — dubbed the National Mortgage Settlement and the Independent Foreclosure Review — involved millions of wronged homeowners thrust into foreclosure. But that’s not enough to convince Wall Street Journal editorial board member Mary Kissel.
The retired Marine sergeant owed $134 in property taxes, but the D.C. local government sold the tax lien to an investor who foreclosed on his $197,000 house. The Washington Post has chronicled this new trend borne out of the financial crisis that left many local governments scrambling to collect unpaid property taxes.
Several media reports recently are putting a scare into consumers with good credit. The reports focus on a few lending companies that may use social connections as an indicator of a person’s creditworthiness. Putting it simply, if you have many Facebook friends are don’t pay on time, you get penalized.