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Mortgage Rescission Could Be Class Action Nightmare for U.S. Banks
National News • July 7, 2008
A lawsuit filed by a Wisconsin couple against their mortgage lender could have major implications for banks should a U.S. appeals court agree that borrowers can cancel their loans en masse when ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: how did this happen..... | Gill Fin | Jul 8, 2008, 11:43 pm |
| how did this happen..... | MBB | Jul 8, 2008, 12:33 pm |
| RE: RE: RE: RE: RE: They don't need to rescind | David | Jul 8, 2008, 12:26 pm |
| RE: RE: RE: RE: They don't need to rescind | Tina | Jul 8, 2008, 9:23 am |
| RE: The whole dang ship needs to go down... | Just a thought | Jul 8, 2008, 8:22 am |
| The whole dang ship needs to go down... | Terrie B | Jul 7, 2008, 9:28 pm |
| Class Action? | Johnny | Jul 7, 2008, 4:07 pm |
| RE: RE: RE: RE: They don't need to rescind | caveat emptor | Jul 7, 2008, 3:18 pm |
| Wait a minute... | Tom | Jul 7, 2008, 2:55 pm |
| RE: RE: I Agree with Dawn- that's the worst part. | Dawn | Jul 7, 2008, 1:54 pm |
| RE: I Agree with Dawn | Disheartened | Jul 7, 2008, 1:45 pm |
| RE: RE: RE: They don't need to rescind | Dawn | Jul 7, 2008, 1:43 pm |
| RE: RE: They don't need to rescind | caveat emptor | Jul 7, 2008, 1:32 pm |
| RE: They don't need to rescind | Dawn | Jul 7, 2008, 1:16 pm |
| Mortgage | Sam | Jul 7, 2008, 12:56 pm |
| RE: They don't need to rescind | DDay | Jul 7, 2008, 11:53 am |
| They don't need to rescind | lastbat | Jul 7, 2008, 11:06 am |
| Back to article | ||
Subject: RE: how did this happen.....
November 12, 1999
WASHINGTON (CNN) -- The biggest change in the nation's banking system since the Great Depression became law Friday, when President Bill Clinton signed a measure overhauling federal rules governing the way financial institutions operate.
"This legislation is truly historic and it indicates what can happen when Republicans and Democrats work together in a spirit of genuine cooperation," Clinton said at a White House signing ceremony. The event brought together the president and several Republican members of Congress who have been among Clinton's sternest critics -- a sign of the bipartisan support that eventually developed for the package.
Congress passed the bipartisan measure November 5, opening the way for a blossoming of financial "supermarkets" selling loans, investments and insurance. Proponents had pushed the legislation in Congress for two decades, and Wall Street and the banking and insurance industries had poured millions of dollars into lobbying for it in the past few years.