Lexington Law Firm

Lexington Law is a consumer advocacy law firm helping people repair their credit. They have been business since 1991 helping over 1/2 million clients. As you would expect Lexington Law has gone to great lengths to make its services affordable to its clients. Their fees start as low as $39.95 a month and a one-time $99.95 first-work fee. The fee is charged ONLY after that work has been completed.

Their services are backed by a refund policy, and clients may cancel at any time. If you’re ready to take control of your credit, start now. Lexington Law Sign-Up Page

Protect your Identity (Not Credit Repair, Credit Prevention)

Chase Identity Protection

• Unlimited access to credit reports and scores.
• $100,000 identity fraud expense reimbursement paid for by Chase.**
• 24/7 credit information monitoring.
• Your personal representative to help you in the event of fraud.
• Automatic notification of changes to your credit file.
• Instant online delivery of report and scores.

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The second largest bank by assets reported a 67% growth in profits, but revenue was on the lighter side. Analysts had been hoping for a pickup in loan growth, but except for the commercial banking segment, which saw a 7% increase in loans over the corresponding previous quarter, all other segments saw lower loan balances.

The dim revenue outlook and continuing problems associated with its mortgage businesses — the bank reported a $1.1 billion provision for credit losses arising from its real estate portfolios and a loss of $1.1 billion for the impact of increased servicing costs on the fair value of the firm’s mortgage servicing rights asset, among other charges — dampened expectation for solid earnings reports from Bank of America, due to report on April 15, and Citigroup and Wells Fargo, which report next week. … Click to view a price quote on JPM .

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New York, NY, United States (AHN) – Wall Street bonuses can be a point of contention among not only the haves but the have-nots. Bonus levels for many dropped and only half report satisfaction with their amounts.

While many Americans consider bonuses a rare luxury and struggle to put food on the table and pay bills Wall Street mega earners some are reporting their bonuses dropped five percent each year the last two years. The still astronomical bonuses that can be he as high as $5 million dollars remain scrutinized by regulators, governments and banks across the globe.

For some switching employers had an either positive or negative reflection on their bonus amount. 15 percent of respondents claim switching caused their bonus to decrease while 12 percent found they took home more money. Another eight percent took home no bonus at all based on the eFinancialCareers.com survey.

The survey was sent to 1,009 people and respondents included financial firm employees who knew their bonus amount.

Despite the drop in cash individual bonuses still demonstrate Wall Street’s history of pay-for-performance remains intact.

The “average” bonus numbers on Wall Street for someone working at Goldman Sachs is reported to be around $430,000. Additionally first time bonuses also range in the tens of thousands of dollars.

The financial reports of Goldman Sachs Group Inc., Morgan Stanley, and JPMorgan Chase & Co.’s reflect the investment banks spent an average of $330,212 on salaries, bonuses and benefits for each of their 124,556 workers in 2010.

A statement by eFinancialCareers state financial professionals specializing in investment banking, foreign exchange, derivatives, research and private equity are noted to reap the largest bonuses. Fund management, risk management and commodities bonuses were on average lower by comparison.

Across the globe the average bonuses for Asia-based financial markets professionals showed the largest gains marking an increase of 22 percent. Comparatively, average bonuses in the U.K. rose five percent.

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Washington, DC, United States (AHN) – Officials of American mortgage giants Fannie Mae and Freddie Mac denied Wednesday they caused the foreclosure crisis, instead blaming mortgage services and law firms that they contract.

The executives told Congress that since the two companies do not service loans the responsibility for managing payments by borrowers on home loans or foreclosing mortgages that have defaulted is with the mortgage servicers and loan firms.

Fannie Mae Executive Vice President for Credit Portfolio Terence Edwards said the mortgage servicers are the primary front-line operators who have contact with the borrowers. Fannie Mae pays them service fees to work with borrowers during the duration of the loan.

However, acting Comptroller of the Currency John Walsh disputed Fannie Mae and Freddie Mac’s explanation, countering that the companies’ policies contributed to the foreclosure problem. In particular, he identified the large number of documents used by Fannie Mae and Freddie Mac in their mortgage foreclosure processes.

Walsh said large national bank servicers, namely Bank of America, Citibank, JPMorgan Chase, HSBC, PNC, Wells Fargo and U.S. Bank, have similar deficiencies in their foreclosure processes, which the OCC and other banking regulators are reviewing.

The Treasury Department spent in 2008 $135 billion on Fannie Mae and Freddie Mac after the federal government seized the two firms to cover their losses on soured mortgage loans. In mid-November, President Barack Obama nominated North Carolina Banking Commissioner Joseph Smith Jr. to head the agency that has supervisory power over Fannie Mae and Freddie Mac.

Smith will replace Edward DeMarco, who headed the Federal Housing Finance Agency since August 2009. The agency is in the midst of preparations to overhaul the two mortgage lending giants.

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Bergen, NJ, United States (AHN) – Federal agents swooped down on a suspected identity theft ring in New Jersey on Thursday and arrested dozens of suspects.

Forty-seven people were arrested in the massive crackdown. They face allegations including conspiracy to commit wire fraud, conspiracy to commit credit card fraud, and unlawfully using identification documents to defraud the United States.

Prosecutors say the suspects were part of a group of mostly Korean immigrants in Bergen County who sold identification documents that were used to commit fraud. Allegedly led by Sang-Hyun Park, the group obtained Social Security numbers beginning with the prefix 586, which are issued to Chinese working in U.S. territories such as Guam and Saipan. The Social Security numbers were used to secure genuine drivers licenses and other state identification cards.

The group would then “build up” the credit scores of the Chinese identities on the IDs by attaching these identities to existing credit card accounts as authorized users. The suspects allegedly would then guide customers using identities with good credit ratings to open bank accounts, obtain credit cards and apply for loans, including those guaranteed by the federal Small Business Administration.

The fraudulently obtained credit cards were used by the group to buy expensive goods that were later sold. The cards were also used for fake transactions with conspiring business owners to obtain cash. The suspects are believed to have paid for the fake charges by drawing on other fraudulently opened bank accounts.

Among those charged were Chun-O Kim, owner and operator of what prosecutors said was a nonexistent general contracting company, and Nathan Buschman, a manager at a JPMorgan Chase branch in Edgewater.

Also part of the criminal complaint are Zakchary Benji, a loan officer in a Clifton bank, and Kang-Hyok Choi, who has been in custody since his arrest in 2008, when he is believed to have murdered three people who may have been involved in the identity theft operation.

Apart from JPMorgan, other institutions that were defrauded were Citibank and PNC Financial Services.

“The activity in this instance was a virtual crime superstore,” Special Agent in Charge Michael Ward said in a statement. “The criminal activity was sophisticated, and the extent of the fraud committed by this group is believed to be substantial, if not staggering.”

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