Lustig, Glaser & Wilson often harassed the wrong consumers, demanded amounts that were not owed, bullied consumers into paying from exempt income, and failed to obtain legitimate documentation of those debts, state officials said.
Former Comptroller of the Currency Eugene Ludwig shares stories from his days as a top regulator during the Clinton Administration and the reasons why bank rules should be reviewed and maybe rewritten.
While Freddie Mac is moving cautiously into buying manufactured housing loans not secured by land, Fannie Mae is moving more aggressively. Industry representatives are divided on which approach is superior.
For the last two years, the central bank has allowed the private sector to drive a process aimed at modernizing the nation's payments system. Now the Fed will have to determine what its own role will be.
An influential task force established by the central bank envisions a future in which the U.S. has multiple real-time payment systems, and in a new report it lays out a series of actions that will be necessary to stitch them together.