Piggish bankers went whole hog to abuse consumers in 2014

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Piggish bankers went whole hog to abuse consumers in 2014

Piggish bankers went whole hog to abuse consumers in 2014

Chicago Tribune-

The end of the year occasions awards season in all industries, and the world of personal finance is no exception, which brings us to the 2014 edition of the Piggy Bank Awards for Dubious Achievements in Consumer Finance or, for short, “The Piggies.”

And what a year of very dubious achievements it was. Loan servicers continued to stick it to mortgage clients, except when the servicers turned out to be sticking it to student loan borrowers. The big mortgage banks that caused the Great Recession continued to buy their way out of trouble. Top law enforcement officials continued to collect hundreds of thousands of (mostly tax-deductible) dollars in fines for criminal activity by banks, while remaining unable to find even one actual banker who committed all those criminal acts.

Naturally, bank customers will end up paying those fines in the end, thanks to ever-higher bank fees on customer accounts.

[CHICAGO TRIBUNE]

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