In a speech last fall before the Consumer Bankers Association, acting Comptroller of the Currency Julie L. Williams warned her audience that the Home Mortgage Disclosure Act required bankers to publicly report new and more detailed data concerning their home mortgage lending business. Higher-priced loans for the first time had to be reported by race, ethnicity, income level and gender, and the racial and ethnic composition and income level of the census tract in which the property is located. The thrust of her message to the bankers: “Be prepared.”
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By Colbert I. King, Saturday, June 25, 2005; Page A23
“A home will not become a home if you have to fight your way past predatory lenders and a two-tiered banking system to get one. That may be the plight of many African American bank customers in New York who want to achieve the American dream of homeownership, at least according to the state’s attorney general, Eliot Spitzer, who has launched a mortgage lending investigation after analyzing lending data obtained under the federal Home Mortgage Disclosure Act.”
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In an article by Andrew Ellson, Times Online, he said “Research seen by Times Online shows that the public is getting increasingly reluctant to use internet banking as they become more concerned about the risk of identity theft.” In response to the article consumer watchdog organization Household – HSBC Watch said HSBC consumers would revert back to mailing their credit card payments to HSBC, a move which would almost guarantee late charges and unwarranted finance charges. “See Shea v Household for example” said the group.
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Seen in the Baltimore Sun, June 26, 2005: Eileen Ambrose wrote “Think long and hard before cracking open that nest egg.” In her article she said “NEXT MONTH, the oldest of baby boomers will turn 59 1/2 , that magical age when they can tap tax-deferred retirement accounts without penalty. This means that after decades of accumulating assets — let’s hope — boomers are nearing the time they’ll retire and begin to spend down assets.”
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“We consider our proprietary credit card program to be a key component of our retailing concept, and we place a high degree of importance on our relationship with our cardholders,” said Bon-Ton President and Chief Executive Bud Bergren.
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