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Steve Bartlett, President and CEO of The Financial Services Roundtable, recently published "Rebuilding Trust: Putting Our Financial House in Order." The publication looks to rebuild the relationship between the public, financial firms and the government. The document lays out the causes, objectives and a set of 15 reforms for the financial-services industry in order to stabilize the economy.
"Rebuilding Trust" can be downloaded here.
For a hard copy of the publication, please contact Elise Brooks, Elise@fsround.org.
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A little-known Illinois law is being manipulated in a way that may hamper the ability of banks to increase their lending and speed up economic growth. Originally designed to prevent two parties from agreeing to harm a third party, the state's civil conspiracy law is being used by plaintiffs to sue businesses with whom they have no connection at all.
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The most recent data from HOPE NOW, the private sector of mortgage servicers, investors, mortgage insurers and non-profit counselors shows foreclosure starts dropped 21 percent to 224,000 and foreclosure sales are down 16 percent to 75,000 from July. Workout plans were up 28 percent to 325,000. Repayment plans increased by 38 percent and loan modifications were up by 7 percent.
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