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ProSense

(116,464 posts)
Mon Feb 24, 2014, 10:23 PM Feb 2014

Five years of Obama, and 2014 has been a busy year thus far [View all]

Time to update the list.



http://www.democraticunderground.com/10024554223

Ally Bank To Pay $98 Million For Charging Higher Interest To Non-White Borrowers
http://www.democraticunderground.com/10024208931

U.S. orders mortgage servicer Ocwen to help borrowers with $2 billion

By Emily Stephenson

(Reuters) - U.S. officials on Thursday ordered the largest nonbank mortgage servicer to provide $2 billion in help to underwater borrowers to resolve allegations of misconduct that led to thousands of people losing their homes.

Ocwen Financial Corp must reduce loan balances for struggling homeowners and refund $125 million to foreclosed borrowers under an agreement with the U.S. Consumer Financial Protection Bureau and officials from 49 states and the District of Columbia.

Ocwen failed to account for borrowers' payments, gave false reasons for denying loan modifications and robo-signed legal documents, the consumer bureau said.

In many cases, after Ocwen began servicing loans, it did not respect trial modifications that had already been agreed to by the lenders, consumer bureau Director Richard Cordray said.

- more -

http://www.reuters.com/article/2013/12/19/us-financial-regulation-ocwen-idUSBRE9BI0ZT20131219


Sen. Warren Praises New CFPB Mortgage Rules that Make Families, Economy Safer

Jan 7, 2014

Video of Senator Warren’s Remarks Available Here

Text of Senator Warren’s Remarks Available Here

WASHINGTON, DC – In remarks delivered on the floor of the Senate this afternoon, United States Senator Elizabeth Warren applauded the Consumer Financial Protection Bureau’s (CFPB) new mortgage rules, which will go into effect on Friday, January 10.

Under the new rules, a lender must determine that a borrower has the ability to repay a mortgage before issuing the loan. The rules will also prohibit brokers from being paid by lenders to steer customers into higher-cost loans and strengthen the mortgage market by improving mortgage servicing practices.

"Thanks to the consumer agency's new rules, families will be safer, pension funds and other investors will be safer, and our whole economy will be safer," Senator Warren said in her remarks. "And the rules will reshape the mortgage market for the better. They will give people a better chance to buy homes and a better chance to keep those homes, and they will force mortgage lenders and servicers to compete by offering better rates and customer service, not by tricking and trapping people. These rules will help markets work better, and they will reduce the risk that the economy will crash again."

Senator Warren highlighted the success the CFPB already has had helping consumers, including returning more than $3 billion to consumers who were cheated and resolving tens of thousands of complaints against financial institutions. The new mortgage rules will affect millions of families who own or plan to purchase a home.

"The consumer bureau's new mortgage rules show once again that government can fix problems," said Senator Warren. "Sure, we have to work hard, we have to fight against those who benefit from the broken system, and we have to stick with it even when the odds are against us. But when we do those things, real change is possible in this country. We're seeing that up close this week."

For more information about the new mortgage rules, a fact sheet is available at the CFPB's website here.

http://www.warren.senate.gov/?p=press_release&id=309


Why Today is a Big Day for Voting Rights

By Faith Barksdale, Legal Assistant, ACLU & Eunice Hyon Min Rho, ACLU

Today marks the opening of the health insurance exchanges created under the Affordable Care Act. An estimated seven million uninsured Americans are expected to apply for coverage during this first round of open enrollment; the Congressional Budget Office estimates that by 2016, 25 million Americans will register for health insurance through the exchanges. In addition to expanding access to affordable healthcare, the opening of the health exchanges also has the opportunity to dramatically expand access to the ballot.

You see, one-third of uninsured Americans are also not registered to vote. And under the 1993 National Voter Registration Act (NVRA)—also called the "motor voter law"—agencies that provide public assistance, like the new health insurance exchanges, must also provide voter registration services. Because of this law, both the Department of Health and Human Services and the White House have acknowledged that the health insurance exchanges operated by, or in partnership with the federal government must offer voter registration services.

This important law also applies to the 14 states that are operating their own exchanges independent of the federal government. Among these states, California, New York, Vermont, Maryland and Rhode Island have all acknowledged their obligation under the NVRA to provide voter registration services through the health insurance exchanges. With over 10 million uninsured Americans living in these five states, this is a tremendous opportunity to expand ballot access. Unfortunately, nine states—Colorado, Connecticut, the District of Columbia, Hawaii, Kentucky, Massachusetts, Nevada, Oregon and Washington—have yet to officially announce plans to comply with the NVRA. We will continue to press ahead and urge more states to comply with federal law so that all Americans can have an opportunity to exercise the most fundamental right in our democracy.

https://www.aclu.org/blog/voting-rights/why-today-big-day-voting-rights


Salt Lake City joins Phoenix in ending veteran homelessness
http://www.msnbc.com/melissa-harris-perry/mayor-declares-end-vet-homelessness

Phoenix Becomes First City To End Chronic Homelessness Among Veterans
http://www.democraticunderground.com/10024217875

Obama Announces Institute to Create Manufacturing Jobs
http://www.democraticunderground.com/10024336479

Partnering with Local Communities: The First Five “Promise Zones”http://www.whitehouse.gov/blog/2014/01/09/partnering-local-communities-first-five-promise-zones
http://www.democraticunderground.com/10024336893

Justice Department Aims To Cut Short Racially Biased Drug Sentences
http://www.democraticunderground.com/10024416438

Obama administration starts to implement changes to NSA phone records program
http://www.democraticunderground.com/10024473684

Obama Administration Urges Cops To Help Save Lives By Treating Heroin Overdoses
http://www.democraticunderground.com/10024485335

Obama administration issue new banking rules for marijuana businesses
http://www.democraticunderground.com/10024501968

EPI: Court of Appeals Hands Victory to U.S. Workers
http://www.democraticunderground.com/10024450902

NLRB gives boost to speedier union elections
http://www.democraticunderground.com/10024453233

Up in arms over union ‘persuader’ rule
http://thehill.com/blogs/regwatch/labor/198153-union-persuader-rule-has-industry-groups-up-in-arms

Photo: Historic phone call...President Obama speaks with Iranian President Hassan Rouhani
http://www.democraticunderground.com/10023740251

Kerry Holds Historic Meeting with Iran's FM (updated)
http://www.democraticunderground.com/10023735482

The Deal is for Real
http://www.democraticunderground.com/10024092699

$1 Billion for Climate Preparedness: The White House Gets It
http://www.democraticunderground.com/10024505179

U.S. Approves Two Huge Solar Projects On Public Lands In California
http://www.democraticunderground.com/10024547836

President Obama Announces New Truck Efficiency Standards
http://www.democraticunderground.com/10024521194

Government Moves To Prevent Future Outbreaks By Protecting Food Safety Whistleblowers
http://thinkprogress.org/health/2014/02/20/3310781/osha-issues-food-safety-protections/

Uninsurance Rate Falls To Five-Year Low As 3.3 Million Enroll In Obamacare
http://thinkprogress.org/health/2014/02/12/3284581/uninsurance-rate-year-obamacare-enrollments/

CMS issues rule to empower it to negotiate drug prices, opponents immediately spin it as a negative.
http://www.democraticunderground.com/10024544733

Big PhRMA opposes the new CMS rule.
http://www.democraticunderground.com/10024553152

Executive order on federal contracting means real action on economic mobility
http://www.democraticunderground.com/10024415803

BOOM: Obama signs order to raise minimum wage for federal contractors...disabled workers included!
http://www.democraticunderground.com/10024489919

The Stimulus worked.
http://www.democraticunderground.com/10024539986

ARRA and the Earned Income Tax Credit

Update May 31, 2013 — This page has been updated to reflect the fact that the EITC changes under ARRA, which were to expire at the end of 2012, were extended through December 2017 by the American Taxpayer Relief Act of 2012.

Update Oct. 31, 2011 — This page has been updated to reflect the fact that the EITC changes under ARRA, which were to expire at the end of 2010, were extended through December 2012 by the Tax Relief and Job Creation Act of 2010.


The earned income tax credit is a refundable credit intended to help people who work but earn modest incomes. The American Recovery and Reinvestment Act provides a temporary increase in the EITC for taxpayers with three or more qualifying children. In 2013, the maximum EITC for this new category is $6,044. ARRA also increased the beginning point of the phaseout range for the credit for all married couples filing a joint return, regardless of the number of children.

In 2013, the credit begins to phase out at $22,870 for married taxpayers filing a joint return with children and completely phases out at $43,210 for one child, $48,378 for two children and $51,567 for three or more children. For married taxpayers filing a joint return with no children, the credit begins to phase out at $13,310 and completely phases out at $19,680.

These changes applied to 2009 and 2010 tax returns under ARRA, and were extended by the Tax Relief and Job Creation Act of 2010 to apply to 2011 and 2012 tax returns. The American Taxpayer Relief Act of 2012 extended these temporary ARRA increases for five years through December 2017.

http://www.irs.gov/uac/ARRA-and-the-Earned-Income-Tax-Credit


Krugman: Obama and the One Percent
http://www.democraticunderground.com/10024391415


The heatlh care law also raised the payroll tax for high income earners and taxed investment income.

Net Investment Income Tax

A new Net Investment Income Tax goes into effect starting in 2013. The 3.8 percent Net Investment Income Tax applies to individuals, estates and trusts that have certain investment income above certain threshold amounts. The IRS and the Treasury Department have issued proposed regulations on the Net Investment Income Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Net Investment Income Tax, see our questions and answers.

Additional Medicare Tax

A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individual’s wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individual’s filing status. The threshold amounts are $250,000 for married taxpayers who file jointly, $125,000 for married taxpayers who file separately, and $200,000 for all other taxpayers. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year. The IRS and the Department of the Treasury have issued proposed regulations on the Additional Medicare Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Additional Medicare Tax, see our questions and answers.

http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions


26 replies = new reply since forum marked as read
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Kick! n/t ProSense Feb 2014 #1
Kick... ConservativeDemocrat Feb 2014 #2
Kick! n/t ProSense Feb 2014 #3
WOW WOW WOW! Major Cricket Action going on!! K&R! Cha Feb 2014 #4
: ) n/t ProSense Feb 2014 #8
Nah, we're just watching the parade. Le Taz Hot Feb 2014 #18
Thrilling. n/t ProSense Feb 2014 #19
Oh...thought you said charade. Rex Feb 2014 #22
Kick! n/t ProSense Feb 2014 #26
Wait a minute.... JNelson6563 Feb 2014 #5
Amazing, isn't it? ProSense Feb 2014 #9
Kick Kick Kick! sheshe2 Feb 2014 #6
Thanks. ProSense Feb 2014 #10
They do. sheshe2 Feb 2014 #12
Good quote. n/t ProSense Feb 2014 #13
5 Years of progress under Obama! Makes me proud to be a Democrat! freshwest Feb 2014 #7
Nice! n/t ProSense Feb 2014 #11
It makes you wonder where the ProSense Feb 2014 #14
I believe it's axiomatic that much of the RW hatred is race-based. But ... 11 Bravo Feb 2014 #23
Nice list mcar Feb 2014 #15
Thanks. ProSense Feb 2014 #16
Should add ProSense Feb 2014 #17
One more: ProSense Feb 2014 #20
K&R for Factual Information about MineralMan Feb 2014 #21
Nononononono, he's just like Bush! A DLC troll! A Repub in Dem's clothing. riqster Feb 2014 #24
Thanks. n/t ProSense Feb 2014 #25
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