Wisconsin Banking Update
Providing banking news in Wisconsin that Wisconsin Bankers can use. Keep on top of all the banking issues that are affecting Wisconsin in one place. If you would like to receive these updates by email please subscribe by entering your email address on the right. There is no cost and no obligation.
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So-Called Mortgage Modification Firm Banned
Posted on July 29th, 2009 No commentsThe Wisconsin Department of Financial Institutions banned the Federal Loan Modification Law Center LLP, of Irvine, Calif., from doing business here. The company promised to help customers make mortgage modifications, charging upfront fees of about $1,500 to $2,500 per customer, according to DFI’s Mike Mach. Read the Milwaukee Journal Sentinel article.
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Payday Lender Nullifies Loans
Posted on July 29th, 2009 No commentsArrowhead Investments LLC, a provider of payday loans over the Internet, has agreed to zero-out all loans to Wisconsin customers and pay $180,000 in restitution and costs to settle allegations of consumer law violations, the Business Journal of Milwaukee reported.