You can checkout anytime you like, but you can never leave. That’s how I’m feeling about one of my banks. I recently decided to close a particular bank account. Turns out that the bank, which allows me to open new
Hotel California (Deposit Account Edition)
You can checkout anytime you like, but you can never leave. That’s how I’m feeling about one of my banks. I recently decided to close a particular bank account. Turns out that the bank, which allows me to open new
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Russell Vought Is Wasting Government Resources
The CFPB has proposed a rule to constrain when it can designate non-banks as subject to supervision. The rule is one of very narrow application: only 20 institutions have ever been so designated over 14 years. There’s a lot of
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Bill Pulte’s Looking for Mortgage Fraud in the Wrong Place
Reuters is reporting that Lisa Cook scheduled her Atlanta property as a vacation home on a loan estimate from her lender. That indicates that the lender was aware that the property was not going to be used as Cook’s principal
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Russell Vought Is Wasting Government Resources
The CFPB has proposed a rule to constrain when it can designate non-banks as subject to supervision. The rule is one of very narrow application: only 20 institutions have ever been so designated over 14 years. There’s a lot of
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Revision of Chinese Enterprise Bankruptcy Law Leaves Natural Persons Waiting
The Chinese National People’s Congress yesterday began reviewing a set of major revisions to the 2007 Enterprise Bankruptcy Law. Details on this first major reform effort in nearly 20 years are not publicly available (!), but Xinhua reports that
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That Mortgage Document Doesn’t Say What You Think It Says
I’ve been getting a lot of emails and on-line comments in recent days from people who work in the mortgage industry about the Lisa Cook mortgage situation. What I’m seeing in these comments is a serious gulf between lawyers and
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Pulte’s Latest Bad Faith Accusation
Bill Pulte’s newest fraud claim against Lisa Cook is more outlandish and desperate than his original attack. Pulte’s latest claim is based on Cook having rental income from 2021 second home mortgage in Cambridge. Pulte alleges that this means that
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The President’s Firing of Lisa Cook Is Illegal
President Trump fired Federal Reserve Board Governor Lisa Cook tonight based on unproven allegations by his politically motivated henchman that Cook engaged in mortgage fraud. The President’s actions are illegal. He currently has no legal basis to fire Cook. Instead,
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Bill Pulte’s Enemy’s List
The media coverage about President Trump’s demand that Federal Reserve Board Governor Lisa Cook resign based on alleged occupancy fraud on a 2021 mortgage application has missed the real story: how terrifyingly inappropriate FHFA Director William Pulte has behaved. Pulte
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