Certified Forensic Loan Auditors, LLC

 
  Upcoming Classes

Search CFLA's Article Archive:

Santa Cruz County Supervisors Leaders in Stance Against Wall Street

santacruzsentinel.com | June 2, 2016

By Samantha Clark

Santa Cruz is known for its liberal bent and progressive politics, so it’s no surprise that the county recently took a stand against Wall Street, inspiring others to think about doing the same.

Since the Board of Supervisors voted earlier this summer to stop buying investments from the five big banks that agreed in May to plead guilty to criminal felony charges, word spread nationwide. Former Labor Secretary Robert Reich, financial blogs and interest groups — from Occupy to the Public Banking Institute — touted the small but significant stance.

“Doing business with institutions that are committing federal crimes is not consistent with the obligation that we have to protect public dollars,” said Supervisor Ryan Coonerty, who brought the proposal to the board. “There’s been so much bad behavior and so few consequences.”
Citicorp, JP Morgan Chase, Barclays, The Royal Bank of Scotland and UBS AG, some of which the county has done business with, agreed to pay $5.6 billion in penalties for manipulating the foreign-currency market. It doesn’t sound like a lot of money for the world’s biggest banks.

The traders schemed in online chat rooms called “the mafia” and “the cartel.” Attorney General Loretta Lynch called the heist a “brazen display of collusion” that affected “countless consumers, investors and institutions around the globe — from pension funds to major corporations and including the banks’ own customers.”
Wall Street won’t feel the loss of Santa Cruz County’s portfolio, valued at about $650 million.
“But what if every county, city and state in America followed Santa Cruz County’s example and held the big banks accountable for their felonies?” Reich wrote.

So far, Coonerty has contacted about 50 “progressive” cities nationwide, including about a dozen in the Bay Area. He couldn’t name any yet, he said.

“It’s a bold step by the supervisors to do this. They’re taking a creative and direct response to the criminal practices of the big banks,” said Walt McRee, chair of the Public Banking Institute, a nonprofit working to create publicly owned banks. “Whether or not other counties or cities will have the ability or the courage to do it remains to be seen.”

However, Santa Cruz County already has grabbed the attention of Wall Street. In addition to queries from all over the world, Coonerty’s gotten emails from finance workers fed up with the systemic scofflaw culture.
“They see this bad behavior up close,” Coonerty said. “I expected traditional liberals to appreciate this, but people form the financial services industry want better behavior out of Wall Street.”

The county will continue investing with a number of financial institutions, such as Bank of the West.

This also isn’t the county’s first stab at holding big banks accountable. In 2011 and again in 2012, then-Treasurer Fred Keeley severed the county’s financial ties with Barclays, JP Morgan Chase and Bank of America for rigging interests rates and similar scandals.

We must work together...use our individual and collective DOLLARS to 'Dis-incentivize Criminal Banking Activities'...in other words...DO NOT BANK WITH CRIMINALS!

 

 

 

Order Cutting-Edge Services Now   Quiet Title Packages from Licensed Attorneys
     
CFLA Sponsored Attorney Links   CFLA Training Academy

 

 

Back to June 2016 Archive

 

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
spacer
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
 
BBB Logo

 

spacer

Contact us or view our Sample Documents & Audits by completing the form below.

  • Reload
  • Should be Empty:

 

DVD Sets Only $99

 

FREE Mortgage Fraud Analysis

 

Order Cutting-Edge Services Now

 

Quiet Title Packages from Licensed Attorneys

 

Affiliate Services

 

CFLA Sponsored Attorney Links

 

Take-Home Education Package

 

ALB Law Firm

 

Advocate Legal

 

The True News Network

 

Sutton Law Firm, P.L.L.C.

 

Rubenstein Business Law

 

Atighechi Law Group

 

Scunziano & Associates

 

Get Certified to Perform Mortgage Securitization Audits

 

CFLA Training Academy

 

Expert Witness Services

 

Cutting Edge Expert Securitization Reports

 

CFLA Credit Cards

 

Breaking News

 

Letters to the Editor

 

CFLA Weekly Newsletters

 

Code of Ethics

 

Testimonials

 

Instructional Videos

 

Job Opportunities

 

License Opportunities

 

MARS Rule

 

Product Samples

 

Resource Links

 

Servicer Information

 

Foreclosure Laws

 

REST Report

 

Quiet Title Packages from Licensed Attorneys

 

Advertise on CFLA

 

Advertising Space: Mortgage Securitization, Quiet Title

 

Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
Suite 444
Los Angeles, CA 90066

Phone: 832-932-3951
Toll Free: 888-758-CFLA (2352)
Mobile Users: CLICK TO CALL
info@certifiedforensicloanauditors.com

   
 
CFLA IS NOT A LAW FIRM AND DOES NOT PROVIDE ANY LEGAL ADVICE. CFLA DOES NOT OFFER FORECLOSURE CONSULTING OR FORECLOSURE RELIEF
SERVICES. CFLA DOES NOT OFFER OR ASSIST WITH ANY LOAN MODIFICATION SERVICE. CFLA ALWAYS RECOMMENDS THAT CLIENTS RETAIN COMPETENT COUNSEL IN THEIR RESPECTIVE JURISDICTION. CFLA HAS A FREE PROGRAM TO REFER CFLA CLIENTS TO LAW FIRMS IN NEARLY EVERY STATE AND CFLA
DOES NOT CHARGE OR OBTAIN REFERRALS FEES FOR THESE SERVICES. SERVICES NOT OFFERED TO RESIDENTS OF THE STATE OF NEVADA.

 
Home About Us Privacy Policy Terms of Service Disclaimer SERVICES Careers Contact Us
 
COPYRIGHT © 2007-2016 Certified Forensic Loan Auditors ™ All rights reserved