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 their lenders violate a federal lending disclosure law. This is a REALLY big deal. Details HERE.... This could be THE last for the banking business. It's a dinosaur...BUT here's a delicious letter to the editor in the LA TIMES
7/07/2008
1 comment:
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Great. Someone's lawyer discovered that the laws are so complex that no one can abide by them. No one knows what is required in a loan document. I'll bet your blog is breaking a law or two. Are all your deep links protected by fair use? Could anyone construe you postings about investments as unregistered investment advice? Is the ultimate parent of your employer a foreign corporation, you blog on politics could you be an unregistered foreign lobbyist? I'm not attacking you, I am pointing out no onje obeys the laws anymore because there are innumerable unknowable laws governing everything.
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Mon Jul 07, 06:54:00 PM PDT
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Great!
I'm going to sue GM because the teaser rate on gas was $2.50 when I bought a Tahoe. GM never disclosed to me that gas could go up, nearly double, in just a few years. To all the victims of this deceptive, criminal practice: join with me to help establish justice!