Tag Archives: lending

Mortgage Lender Pays Big to Settle Class Action Suits

Countrywide Lending has reached a preliminary settlement to settle shareholder lawsuits for $600 million dollars. The lawsuits stemmed from alleged loosening of lending standards as the mortgage crisis began to unfold. Under the terms of the settlement, a number of…

Congressional commission to ask bank leaders about economic crisis

Congress will hear testimony from the heads of major banks about lending practices, risk management, and pay practices and how that is related to the recent recession. The leaders of the Congressional committee echo the sentiments of many Americans: “People…