CHARLENE CROWELL: $8.5 Billion Agreement with Mortgage Servicers

Charlene Crowell - NNPA Columnist

OPINION – The recent joint announcement by two key federal regulators believed a negotiated agreement with 10 mortgage servicing firms would help more than 3.8 million consumers who were wrongfully foreclosed during 2009 and 2010. Brokered by the Federal Reserve and the Office of the Comptroller of the Currency (OCC), mortgage servicing firms agreed to […]

CHARLENE CROWELL: Blacks, Latinos Two-Thirds of Under-Banked

Charlene Crowell - NNPA Columnist

OPINION – More than 37 million American households were either unbanked or under-banked in 2011, according to a new report by the Federal Deposit Insurance Corporation (FDIC). African-American households represent 34 percent of all under-banked consumers, the highest percentage among demographics surveyed. When under-banked African-American and Latino households are combined, these two communities of color […]

CHARLENE CROWELL: The Domino Effect of Student Debt

Charlene Crowell - NNPA Columnist

OPINION – When this year’s student debt burden surpassed the $1 trillion mark, it became even larger than the amount of debt held on credit cards. New findings now conclude that heavy student loan debt delays the ability of young graduates to buy a home and in the worst scenarios, strips Social Security benefits and […]

Consumers Welcome Scrutiny of Bank Overdraft Practices

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SACRAMENTO – When the Consumer Financial Protection Bureau visited New York City on February 22, a roundtable discussion with bankers and consumer advocates began a day of focused discussion of bank products that cost customers billions per year in unfair fees. In his opening remarks, CFPB Director Richard Cordray called for a “candid discussion” and […]