Record #:

28121

Author(s):

Geary, Bob

Abstract:

North Carolina is preparing for a 20% increase in foreclosures this year. The state has little power to regulate banks which operate out-of-state which operate under national bank charters. The state has recently started a number of initiative to curb the crisis including new laws on fraudulent lending, more assistance consumers to negotiate loan payments, and additional safeguards for homeowners whose houses go into foreclosure.

Source:

Independent Weekly (NoCar Oversize AP 2 .I57 [volumes 13 - 23 on microfilm]), Vol. 25 Issue 11, March 2008, p14

Subject(s):

Banks and banking