By Christian Mullins
Executive Summary:
Officials from the United States and Romania announced that 38 individuals have been charged with computer and internet fraud relating to the theft and illegal use of personal account information. In all, 34 institutions, including 20 credit unions, were victimized by the perpetrators, who used spam to lure unsuspecting individuals onto fraudulent websites designed to obtain their account information.
The Senate Banking Committee will move forward with bipartisan legislation aimed at curbing the rash of foreclosures that have previously crippled the mortgage market. If signed into law, the bill will allow the Federal Housing Administration (FHA) to back up to $300 billion in new loans to debt-ridden homeowners currently facing foreclosure. It is believed that the program could assist up to 500,000 borrowers, and has been crafted to protect taxpayers from footing the bill.
It was reported yesterday afternoon that Southern California home sales, previously ravaged by foreclosures, are up 22% from the previous month, with the highest monthly sales total since August of last year. Of those sales, 38% represented homes that were in some state of foreclosure in the last 12 months. Even with the surge in sales, year-to-year sales were down 19%, representing the lowest total since 1995.
Robbed:
- Nothing to report today.
Arrested, Arraigned, Charged, or Sentenced:
- Two teenage boys, 15 and 16, were arrested after attempting to rob Communitywide FCU in South Bend, Indiana Monday. Each boy slipped a note under the security glass to a different teller, but the transaction took too long and they fled the building as police arrived. One boy was taken to the hospital after suffering a minor bite from a police dog.
Posted by Christian Mullins 