Showing posts with label Citi. Show all posts
Showing posts with label Citi. Show all posts

Wednesday, November 14, 2012

It's the "Jobs Cliff," Stupid! | Common Dreams

It's the "Jobs Cliff," Stupid! | Common Dreams
"In other words, the “fiscal cliff” is another classic example of what Naomi Klein called “Disaster Capitalism.” Create a panic, and then profit from it. For example, Wall Street is helping fund groups like the Third Way that are pushing hard for us to give our Social Security Trust Fund – which has over two and a half trillion dollars in it – to Goldman Sachs and Citibank so they can take care of it for us. Doesn’t that make you feel all safe, and warm-and-fuzzy?"

Monday, August 6, 2012

Is Citi Engaging in Criminal Abuses of Active Duty Servicemen on Their Student Loans? | Alternet

Is Citi Engaging in Criminal Abuses of Active Duty Servicemen on Their Student Loans? | Alternet
"Given all the varieties of bank-perpetrated mortgage fraud that have come to light in recent years, one that got comparatively little attention were abuses under the Servicemembers Civil Relief Act. SCRA shields active duty servicemen, who cannot be the target of civil until their tour of duty has been completed. That means, among other thing, bankruptcies, foreclosures and even divorces are put on hold. Recent amendments include capping the interest rate on most types of debt at 6%.
Despite the clear provisions of the law, mortgage services were found to be violating on a widespread basis, both by failing to reduce interest charges to 6% and on foreclosing on military personnel who were deployed."