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Resource ID: #21170
Subject: Consumer Affairs
Source: WBAL-TV (Baltimore)
Date: 2003-02-26



This story investigates the business practices of Fairbanks Capital Corporation, and the mishandling of the mortgages of more than 500,000 homeowners. The company is accused of charging homeowners excessive late fees, holding and posting payments late, and harrassing customers. The story also uncovered that the current CEO of Fairbanks, Thomas Basmajian, was previously convicted of tax fraud, along with a number of other businessmen.

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