Robo-signing enters a new field: credit cards

Categorized | STOP FORECLOSURE FRAUD

Robo-signing enters a new field: credit cards

Robo-signing enters a new field: credit cards

And just as Foreclosures this too shall pass as well via corrupted officials.

Tampa Bay Times-

Robo-signing is back. The kind of fraudulent activity that banks and loan servicers used to facilitate foreclosure actions is now taking place in cases involving credit card debt, according to federal regulators and state judges. This has serious consequences for people who fall behind on their credit card bills, because consumers who lose in court can see their wages garnisheed and bank accounts frozen.

It was only six months ago that a $26 billion settlement was announced between state attorneys general, including Florida’s, and the nation’s biggest banks for the banks’ robo-signing practices. Low-level employees attested to foreclosure-related documents of which they had no knowledge. Some employees signed thousands of documents each week without reading the contents. The faulty paperwork amounted to a massive fraud upon the courts and struggling homeowners. But those headlines, and the hit to the financial industry’s pocketbook, apparently didn’t get across the message.

[TAMPA BAY TIMES]

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