- Chrissie Cole | September 26, 2007 4:16 PM |
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MiscellaneousThe National Association for the Advancement of Colored People (NAACP) has brought a lawsuit against 11 major mortgage lenders, including Ameriquest Mortgage, for singling out black people for costly subprime loans.Angela Ciccolo, an NAACP attorney, and Austin Tighe, an attorney representing the plaintiffs, confirmed that some of the 11 lenders named in the lawsuit had begun meeting with the...
- Chrissie Cole | September 22, 2007 5:56 PM |
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MiscellaneousA 70-year-old Florida woman is fighting the foreclosure of her home after Ameriquest refinanced her mortgage three times since 2001, promising to help her lower her monthly payments and interest rate, only now her payments have more than doubled.She is challenging the foreclosure claiming Ameriquest took advantage of her, a sick widow, who didn't finish high school and was unable to understand...
- Jenny Albano | September 21, 2007 9:25 PM |
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Defective & Dangerous ProductsA study, published in The Journal of Pediatrics September issue, showed that soft crib bumpers have caused a number of infant deaths over the years. Researchers reviewed three U.S. Consumer Product Safety Commission databases for deaths related to crib bumpers and crib-related injuries from 1985-2005 and found that there have been 27 accidental deaths of children up to 2-years-old that were...
- Courtney Mills | September 21, 2007 2:17 PM |
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Defective & Dangerous ProductsThe California Department of Public Health recalled 56,000 lunch boxes on Thursday, citing unsafe level of lead in the paint coating the boxes. The lunch boxes appeared to have been made in China, and were handed out at Public Health fairs and several other events in California. The lunch boxes urged consumers to "Eat fruits and vegetables and be active."Surprisingly, the California Department...
- Courtney Mills | September 18, 2007 10:34 AM |
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FDA & Prescription DrugsThe FDA issued serious new warnings about Johnson and Johnson's schizophrenia drug Haldol, generically known as haloperidol. The drug was reported to have caused several life-threatening heart conditions in patients using the medication at higher than recommended dosages or taking the drug intravenously, which is not an FDA recommended use for haloperidol.Haldol is reported to have caused...
- Staff Writer | September 17, 2007 12:24 PM |
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FDA & Prescription DrugsThe Chicago Tribune reported that a new study published in the Archives of Internal Medicine showed a big increase in the number of drug deaths and injuries reported to the FDA between the years of 1998 and 2005. This may shed some light on recent problems that have arisen with the government agency that monitors prescription and over-the-counter drugs.The sudden increase in "adverse events"...
- Courtney Mills | September 13, 2007 12:24 PM |
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Defective & Dangerous ProductsThe chief executive officer of Mattel, Robert A. Eckert, testified to senators about the company's recent problems regards its toys. In testimony before a Senate subcommittee, Eckert discussed with senators how the recent recalls had left his company particularly exposed at an awkward time of the year. Readers will remember that Mattel has suffered mightily in the wake of three recalls for lead...
- Jenny Albano | September 11, 2007 11:37 PM |
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FDA & Prescription DrugsA study published on Tuesday, September 11, found that Actos, a type 2 diabetes drug, reduces the risk of heart attack, stroke and death, but may raise the risk of heart failure. According to another study, Avandia, another diabetes drug, increases the risk of heart attack and heart failure significantly.Actos lowered the risk of heart attack, stroke and overall death by 18 percent, while...
- Chrissie Cole | September 09, 2007 9:16 PM |
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MiscellaneousTerry Goddard, Arizona Attorney General, has joined forces with a group of other state prosecutors to form a national task force to investigate subprime-lending practices.Goddard compared the newly created task force to the one started a few years ago by state attorneys general that investigated predatory lending. That effort led to a $325 million settlement with subprime lender Ameriquest.At...
- Chrissie Cole | September 05, 2007 8:47 PM |
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MiscellaneousIf you were once a customer of Ameriquest Mortgage Co., there may be a check for $955 waiting for you. However, you better act fast because next Monday is the deadline to get your piece of the class-action lawsuit settlement.A series of lawsuits accused Ameriquest of several illegal practices to entice new customers into loans. Last year the company agreed to the settlement to get the Attorney...
- Staff Writer | September 04, 2007 9:56 AM |
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Mass Transit (Airline, Cruise Ship, Train, Bus)A story out of Boston today details a metro green line train crash that held up the morning commute for many and caused three injuries. WCVBTV/DT 5 reports the story, saying that the trolley train crash occurred at 7:15 a.m. when a flatbed truck was crossing the tracks at Beacon Street. The truck driver and two others were injured in the train accident. There is no update on the severity of...
- Staff Writer | September 04, 2007 9:25 AM |
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Defective & Dangerous ProductsThe most recent product recalls from the Consumer Product Safety Commission include Imaginarium wooden coloring cases, Yorkcraft emergency tool kits, Gerber EAB pocket knives and electric heaters from Marley Engineered Products.SFGate.com details these recalls of defective products that affect consumers across the nation:-- B&F System Inc. of Dallas is recalling 43,000 Yorkcraft emergency tool...
- Chrissie Cole | September 02, 2007 8:49 PM |
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MiscellaneousOnce the nation's largest subprime lender, Ameriquest Mortgage Co., is closing its doors. On August 1, the company stopped accepting new mortgage applications, its parent company, ACC Capital Holdings, announced on Friday. They are also selling their other assets - a wholesale mortgage origination operation and a mortgage servicing business to Citigroup Inc. for an undisclosed amount.The...