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Financial Reform

More focus needed on housing fix (By Sen. Mark R. Warner, D-Va.)

U.S. Senator Mark Warner reacts to VOICE's organizing around the foreclosure crisis in Northern Virginia.

Interfaith group seeks help from banks in housing crisis

Members from more than 40 religious institutions across Northern Virginia are asking some of the country’s largest banks to commit to helping rebuild neighborhoods that have been devastated by housing foreclosures. Virginians Organized for Interfaith Community Engagement (VOICE) drew a crowd of about 900 congregants, political leaders and representatives of two major financial institutions — Bank of America and J.P. Morgan Chase — to Freedom High School in Woodbridge on Sunday to discuss the issue.

Prince William Residents Blame Robo-signing For Rash Of Foreclosures

Prince William County has the highest rate of foreclosures in Virginia, and residents of one neighborhood who blame the foreclosure rate on the practice of 'robo-signing,' are demanding accountability from the banks and an investigation by state officials.  At the height of the foreclosure crunch, approximately 25 percent of homes in the Georgetown South development in Manassas were foreclosed and vacant. 

Probing Pr. William foreclosures, group sees widespread irregularities, ‘robo-signed’ papers

Lenders may have foreclosed on hundreds of homeowners in Prince William County, Manassas and Manassas Park using unreliable, “robo-signed” documents, according to a report by the group Virginians Organized for Interfaith Community Engagement.

Americans Facing More Inequality, More Debt and Now More Trouble?

Did America's record-high level of economic inequality in 2007 help cause the financial crisis of 2008? With Americans' borrowing back on the rise and signs that economic inequality is growing, could there be another financial crisis in the near future? Paul Solman continues his series of reports on U.S. economic inequality.

U.S. Bank steps up The bank says it will commit more than $16 million to the effort to stabilize Milwaukee neighborhoods hard hit by foreclosure.

  U.S. Bank did the right thing last week in announcing that it would commit more than $16 million to help neighborhoods in Milwaukee hammered by foreclosures.  The bank is the fourth to pledge money to stabilize housing efforts in the wake of the housing crash. Bank of America, Deutsche Bank and Wells Fargo have pledged $15.2 million to the Milwaukee Rising initiative started by the community organization Common Ground. The effort is focused on the Sherman Park neighborhood.

Candidates vow to fight high-interest lending

The major candidates for mayor and D.C. Council chairman promised Monday night that they would push to remove city money from any bank that charges more than 10 percent interest on consumer loans.

Democratic mayoral candidates Adrian M. Fenty and Vincent Gray and chairman candidates Kwame Brown and Vincent Orange made the pledge to the Washington Interfaith Network as part of the group's 2010 election agenda.

Taking discontent to the bank

Chuck Koplik of Lexington had kept his money at the same bank since 1977, through several mergers and acquisitions. Until last week.

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