New York Claims Wells Fargo Mortgage-servicing Fixes ‘not Good Enough’
New York Businesses Win Ruling on Card Swipe-Fee Ban
Eric Schneiderman said the bank’s efforts to help homeowners were simply “not good enough.” Schneiderman announced Wednesday that his office has filed a complaint against the San Francisco-based financial giant over what he claims is its failure to comply with last year’s landmark $25-billion National Mortgage Settlement. Schneiderman said Wells Fargo sent a letter to a committee monitoring the mortgage settlement offering to voluntarily take steps, but the bank refused to acknowledge its shortcomings. Their communication with customers is terrible, Schneiderman told reporters Wednesday at his offices in Manhattan. Theyre not providing the right folks with the ability to close a deal. And, Schneiderman added, the bank continues to enter into servicing contracts with other companies, forcing homeowners to start all over again with a new servicer. At a news conference at his Manhattan offices, Schneiderman mocked a Wells Fargo letter to a homeowner. Brandishing a copy, he read excerpts riddled with unclear writing, typos and stray characters not from any recognizable alphabet. I appreciate their efforts at honoring the diversity of New York and the fact that they are looking out for the Martian-speaking population, Schneiderman said. The Wells Fargo lawsuit was announced along with a parallel agreement with Bank of America over similar claims. B of A agreed to designate high-level staff to work with counseling and legal-services agencies to speed up pending or delayed modification requests. The bank also agreed, for example, to improve its communications with borrowers over missing documents. Schneiderman left open the possibility of an agreement with Wells Fargo. There is nothing stopping them from stepping forward and negotiating something, the attorney general said.
New York’s innovative IDA World Congress is inside out
1, the earliest date for coverage. “The state’s customer service center operators have provided information to and answered questions from more than 9,000 New Yorkers,” she said. “Today, like all other states, New York’s website is experiencing significant levels of activity, which is causing some users to experience difficulty entering the site and delays in application processing.” Related on HuffPost: Loading Slideshow 10. France Total expenditure on health per capita: $3,978 Expenditure as % of GDP: 11.8% (3rd most) Annual growth of total health expenditure: +2.7% (18th most) Life expectancy: 81.5 years (8th highest) Source: 24/7 Wall St. 9. Germany Total expenditure on health per capita: $4,218 Expenditure as % of GDP: 11.6% (4th most) Annual growth of total health expenditure: +4% (15th most) Life expectancy: 80.3 years (18th highest) Source: 24/7 Wall St. 8. Austria Total expenditure on health per capita: $4,298 Expenditure as % of GDP: 11% (8th most) Annual growth of total health expenditure: +2.2% Life expectancy: 80.4 years (16th highest) Source: 24/7 Wall St. 7. Denmark Total expenditure on health per capita: $4,348 Expenditure as % of GDP: 11.5% (6th most) Annual growth of total health expenditure: +6% (11th most) Life expectancy: 79.0 years (25th highest) Source: 24/7 Wall St. 6.
New York Health Care Site Slammed With 30 Million Hits
Businesses including a Vestal, New York, hair salon, a Brooklyn ice cream parlor and Lower Manhattan martial arts academy alleged in a lawsuit filed in June that the law violated free speech rights by penalizing them for adding surcharges while at the same time allowing them to provide discounts to customers paying with cash or debit cards. Alice in Wonderland has nothing on section 518 of the New York General Business Law, Rakoff wrote. This virtually incomprehensible distinction between what a vendor can and cannot tell its customers offends the First Amendment and renders section 518 unconstitutional. Rakoff said the law violated the First Amendment because it prevented merchants from calling the difference between prices charged to cash customers and credit-card users a surcharge. The term surcharge communicates to customers that credit cards are costly for merchants, the businesses argued. Under Review We are reviewing the decision and considering our next step, Melissa Grace, a spokeswoman for New York Attorney General Eric Schneiderman, said in an e-mail. Visa Inc. (V) and MasterCard Inc. (MA) are awaiting a federal judges decision on whether to approve a multibillion-dollar antitrust settlement with U.S. merchants over interchange fees that would lift prohibitions on surcharges. Critics of the settlement have argued that at least 10 states, including New York, prohibit surcharging, limiting the usefulness of that part of the accord. Merchants generally pay higher interchange, or swipe, fees when customers make purchases with credit cards than they do when buyers use debit cards. A provision of the 2010 Dodd-Frank law limits debit swipe fees, so some merchants want to use surcharging to deter customers from using credit cards. Deepak Gupta, a lawyer for the New York businesses that challenged the law, said that merchants are preparing similar constitutional challenges in other states that prohibit surcharging. The other states laws are indistinguishable from new York, Gupta, with Washington-based Gupta Beck Pllc, said in an interview. They were enacted at the same time, had the same purpose and often use the same words. The case is Expressions Hair Design v.
And then came Sandy. New York emerged the uncontested frontrunner while recovering from the hurricanes widespread devastation. It offered a living case study in resiliency, downtown renewal, small business development, mobility, and a host of related revitalization issues from which other cities could learn. Beyond environmental considerations, explained SBS deputy commissioner Elizabeth Deleon, New York is a different place than it was six years ago. IDA members are excited to meet their colleagues and say Remember when we met [at the last world congress]? Look at what Ive been able to do since then or Six years ago these were my challenges and this is how I overcame them. The business improvement districts have done so much. We love showing off what we’ve achieved. Attendees to the conference will begin registration this Sunday at the Times Square Alliance s Visitor Center (the former Embassy Theater) in Times Square. Following an introductory plenary session in the Majestic Theater on Monday morning they will head out into the city for more than 60 tours, remote breakout sessions, workshops, and on-site walkshops on such diverse topics as: Transforming underutilized public spaces into neighborhood assets The role of arts and culture in city strategies Using bicycle-friendly business districts as marketing tools Activating economic development in the face of chronic homelessness Promotion and development for the luxury marketplace Events continue on Tuesday in Brooklyn at Pratt Institute and Brooklyn Law School , at John Jay College of Criminal Justice on 59th Street in Manhattan, and elsewhere into Wednesday. Conference sites are fanned across the city from the Bronx, to Queens and out to Coney Island. Only two buses are involved (for outings to Yankee Stadium and Jamaica). Otherwise, conference attendees are expected to find their way by subway, aided by hotline phone numbers and a small army of volunteers wearing I Love NY t-shirts and stationed on destination subway platforms and at strategic locations above ground.