Missouri Bankers Association

(via Flickr/taberandrew)

Casandra Sheperd is about to be evicted from her home in north St. Louis County.

On a recent afternoon, the soft spoken woman with an easy smile is standing in a room with 20 years’ worth of possessions stacked to the ceiling.

“Every box is hard, you know, because everything has a memory,” Sheperd says. “You know, you pack, you stack, you cry, but you keep moving."

Sheperd lost her job at an insurance company a couple of years ago and started getting behind on her mortgage payments.

(via Flickr/taberandrew)

The St. Louis County Council approved additional changes to an ordinance that requires lenders to offer mediation to homeowners on the edge of foreclosure.

The tweaks to the ordinance include removing the right for homeowners to sue lenders after they’ve gone through mediation, and they come in the shadow of an ongoing legal battle with lenders over whether the county even has the authority to enforce the ordinance.

Councilwoman Hazel Erby first introduced the mediation plan and is confident in the county’s case.  

(via Flickr/taberandrew)

The Missouri Bankers Association has filed a lawsuit against St. Louis County over a new ordinance that requires lenders to offer mediation to homeowners facing foreclosure.

The trade group’s president, Max Cook, said they plan to argue that it has a laundry list of legal problems. 

“Not the least of which is statute that says when it comes to banking laws, and rules, and regulation, no entity, be it a county, a city, what have you, can pass an ordinance or a rule more restrictive than that of the state of Missouri,” Cook said.

(via Flickr/taberandrew)

A new ordinance could offer struggling St. Louis City homeowners an option to help avoid foreclosure.

The program would extend a loan mediation process to any homeowner who requests it from their bank, just like the one passed two weeks ago in St. Louis County. Ignoring this request would cost a lender a $500 fine.

But, banks claim the laws violate state statutes prohibiting government intervention into the foreclosure process.  They say it would mean fewer loans and increased costs.

St. Louis Mayor Francis Slay disagrees.

(Marshall Griffin/St. Louis Public Radio)

State Auditor Tom Schweich (R) has announced an agreement with the Missouri Bankers Association over access to bank records.

(Marshall Griffin/St. Louis Public Radio)

Missouri Auditor Tom Schweich (R) will push for legislation next year he says will enable his office to oversee the state’s Division of Finance without interference from state agencies or private entities.

The proposed bill is, in part, the result of an ongoing legal battle with the Missouri Banker’s Association.  Schweich says the MBA is seeking to block his office from examining how the Finance Division examined the records of a number of failed banks in Missouri.