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"Morning Banking Funnies"

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Pandora:
Coming this morning are a couple of interesting points....


--- Quote ---First, from Utah:

    The Utah Attorney General’s Office says the entity responsible for 4,000 home foreclosures yearly in the state is violating the law.

    In a filing with the 10th Circuit Court of Appeals in Denver, Assistant Attorney General Jerrold Jensen said the ReconTrust Co., a unit of Bank of America, is not allowed under Utah law to conduct foreclosure sales.

The law related to this is Utah-specific and states that you must be either an attorney licensed in the state or a title company to foreclose in Utah.  Bank of America argues that The National Bank Act preempts.  Utah says no and there are conflicting decisions thus far.

Here's the problem folks - this is exactly the sort of creeping loss of your right for redress that you were told wouldn't happen when the National Bank Act was passed.  You were sold convenience and competition in banking, but it was explicitly stated at the time that this would not result in your rights under state law being lost.

Now, when it suits the bankers, they argue otherwise.
--- End quote ---

charlesoakwood:

There are better banks to deal with and more user friendly too.

Libertas:
States rights being trashed!  No!  I don't believe it!

/end sarc.

The only debate is over unintended or intended consequences!

Dan:
Intended. These scumbags know what they're doing.
Which puts them squarely in the 'domestic enemies' category.

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