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Fleet called to account - again New charges about old lending practices dog Fleet as it seeks OK for Shawmut merger
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ANN ARBOR, Mich. -- Fleet Financial Group Inc. last year quelled
the last allegations of Georgia home-loan abuses by its Atlanta
mortgage subsidiary. But the issue won't die.
This time, the complaints are coming from Michigan.
As Fleet prepares to seek regulatory approval to buy Shawmut
National Corp., a Michigan activist plans to challenge the agreement.
Terrence Drent, executive director of the Council on Aging of
Washtenaw County in Ann Arbor, claims Fleet failed to deliver on
promises to help low-income borrowers in southeastern Michigan
struggling to pay high-cost loans the bank purchased ...
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Clouds hover over Fleet.(Fleet Financial Group)
; ...unit, Fleet Mortgage Corp. Fleet agreed to set aside $3.8...than market), as used by Fleet, were not related to risk. About the same time, Fleet was making headlines when...unusual step. Meanwhile, Fleet officials have announced a companywide...recent months--long after Fleet ...
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Fleet will meet with Ga. officials
; ...settlement of lawsuits charging Fleet's Atlanta-based second mortgage...congressional hearings into Fleet's mortgage lending practices. Fleet officials maintain that its Fleet Finance Inc. subsidiary...estimates of potential damages. Fleet spokesman Thomas Lavelle confirmed that ...
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Overhaul at Fleet will trim 3,000 jobs
; Fleet Financial Group Inc. is expected...reorganization, the biggest in Fleet's history, is an ambitious...companies. The plan, called Fleet Focus, will address everything...the Northeast, according to Fleet officials and bank analysts. But the...homebuyers of modest means. Fleet Focus, ...
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BANKERS UNDER THE GUN Fleet acts to fend off suits, protect its reputation
; ...scandals across the country, Fleet Financial Group Inc. moved...class-action suits in Georgia, Fleet officials took the stage beside Atlanta...Georgia-based finance subsidiary, Fleet Finance Inc. The suits against...interest on the mortgage. Since Fleet's loans average just under...the ...
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Record ties Fleet to loan excesses Guiding role is alleged in setting high rates for low-income borrowers
; ...purchased from other lenders. Fleet does business with a lot...other brokers maintain that Fleet Finance -- a national lender...the connections between Fleet and the brokers: - Fleet officials in court depositions acknowledge...loans from the brokers. Fleet then set terms of the ...
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Fleet will contact lending victims
; ...obtained financing from Fleet or Bank of New England. Fleet took over Bank of New England...the loan was obtained. "Fleet has put real money on the...remedies as soon as possible." Fleet officials could not be reached for comment. Under the Fleet plan, a mediation panel...While ...
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BNE name ceases; Fleet officials expect swift changes
; ...the change until September, Fleet officials said. Since January, when the...completed over the weekend, Fleet officials say changes will come swiftly...money-savings will come from layoffs. Fleet officials have said they will eliminate...
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Fleet aid package may grow Georgia judge approves a third lawsuit accusing bank subsidiary of racketeering
; ...the legal cases against Fleet, which charge the company...class-action suit against Fleet -- this one charging Fleet's Atlanta-based second...the plaintiffs prevail, Fleet would be liable for triple...of millions of dollars. Fleet officials reiterated their confidence...immediate ...
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Fleet Pledges to Rewrite Mortgages, Fight Lawsuits
; Fleet Financial Group Inc. said...its lending practices. But Fleet officials said the program has nothing...class-action suit against Fleet in Georgia derided the announcement...the Providence, R.I.-based Fleet Group. The package includes...changes set the stage for Fleet Finance to ...
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Shake-up at Fleet seen near
; ...problems with the amount of Fleet's bad assets compared to its banking peers. Fleet is the nation's 14th-largest...to the controversy over Fleet's second-mortgage subsidiary, Georgia-based Fleet Finance Inc., which has...denied the allegations. Fleet officials confirmed that ...
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