About identity theft - all CONgress has to do to eliminate this problem is to make the lender responsible for issuing a fraudulent loan - not the person defrauded.
I personally know of a case where a person with "power of attorney" for an elderly person's finances went into a bank and had the woman sign for a mortgage - the proceeds of which the person with power of attorney promptly stole and spent. The woman's estate was subjected to legal action by the issuing bank - for a loan made against a property in trust, without even checking to see if there was a clear title for the property in question. The heirs had to pay off the bank - and their lawyers.
With a law as I suggest in place, the bank would have had no recourse except to prosecute the person with the power of attorney who was guilty of not only fraud, but malfeasance.
Showing posts with label Identity theft. Show all posts
Showing posts with label Identity theft. Show all posts
Sunday, June 28, 2015
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