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Mortgage Broker News | 17 Mar 2017, 08:15 AM Agree 0
Alleged unsavory practices by lenders might not be covered by current financial regulators, says a consumer advocacy group
  • George | 17 Mar 2017, 09:51 AM Agree 0
    This is business my friend. This is no different than any business trying to sell and make a profit.
    The regulators are just trying prove they provide value.
    Regardless, the $500,000 penalty is a joke and a rounding error for the quarterly results of the banks.
  • Ron Price | 20 Mar 2017, 11:26 AM Agree 0
    Totally disagree with you George.
    Most businesses do not lie, deceive, cheat, manipulate their (valued) customers nor bully and shame employees in front of peers if sales targets are not met.
    Unfortunately zero ethics and out of control greed is now the norm at our banks.
    Profits have doubled since 2010. Bank CEO's average salary is $10 Million a year plus another $10 Million bonus amidst cost cutting measure, layoffs, outsourcing and a weak economy.
    Regulators are powerless, making six figure salaries. They will have little impact. Major reform is necessary so that ethics, disclosure and transparency are required in order restore trust in the banks. A people's revolt might be necessary. It's simply gone way too far.
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