On the Net, Author at KEYTLaw's Blog

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This article links to an article or blog post on another internet website. Click on the link to read the entire article or post.

Bad Day for Bank of America

Phoenix Business Journal: “BofA to pay $108M settlement. Bank of America Corp. will pay $108 million to settle Federal Trade Commission allegations that the former Countrywide Financial Corp. collected excessive fees from cash-strapped homeowners.”

Kansascity.com: “Lawsuits alleging Bank of America’s failure to pay overtime. Nationwide lawsuits alleging that Bank of America has failed to pay more than $100 million in overtime and other employee wages are being consolidated in Kansas City, Kan. The action in U.S. District Court coordinates at least a dozen lawsuits that potentially represent 180,000 tellers and other employees of the banking giant’s branches and call centers around the country.”

Arizona Judge Throws Out Wiretap in Renzi Case

The Blog of Legal Times: “Rejecting the Justice Department’s plea that only limited evidence be dismissed, a federal judge in Arizona has sanctioned the government and thrown out the entire wiretap in the ongoing prosecution of former Rep. Rick Renzi.”

Can a Soda Tax Save Us From Ourselves?

New York Times: “a national soda tax was briefly considered by the Senate Finance Committee as a way to help pay for President Obama’s health care overhaul. But is a soda tax a good idea?”

The 14 States with Medical Marijuana Laws

The Marijuana Policy Project has a white paper called “The Fourteen States and One Federal District With Effective Medical Marijuana Laws” that gives a brief overview of key provisions of each of the 15 medical marijuana laws.”

Subprime Goes to College The New Mortgage Crisis — How Students at For-Profit Universities could Default on $275 Billion in Taxpayer-backed Student Loans

New York Post: “Until recently, I thought that there would never again be an opportunity to be involved with an industry as socially destructive and morally bankrupt as the subprime mortgage industry. I was wrong. The for-profit education industry has proven equal to the task.”

“The for-profit industry has grown at an extreme and unusual rate, driven by easy access to government sponsored debt in the form of Title IV student loans, where the credit is guaranteed by the government. Thus, the government, the students and the taxpayer bear all the risk, and the for-profit industry reaps all the rewards. This is similar to the subprime mortgage sector in that the subprime originators bore far less risk than the investors in their mortgage paper.”

“Though for-profit students account for 10% of all college students, they represent 44% of all loan defaults, according to the Department of Education.”

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