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Mortgages › Civil Monetary Penalty › Financial Institutions

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Sheppard Mullin Richter & Hampton LLP

CFPB Terminates Two Consent Orders Addressing Overdraft Fees and Mortgage Servicing Violations

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On July 1, the CFPB terminated two separate consent orders, one involving a federal credit union and the other involving a national mortgage servicer. Both orders stemmed from 2024 enforcement actions and involved alleged...more

Orrick, Herrington & Sutcliffe LLP

CFPB terminates consent order against mortgage servicer

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On July 1, the CFPB announced that it terminated a consent order against a mortgage servicer after finding that the company had “fulfilled several obligations,” including payment of a $2 million civil money penalty and $3...more

Sheppard Mullin Richter & Hampton LLP

FDIC Settles with Bank for Repeat RESPA Violations, Doubling Previous Fine

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The FDIC recently announced a consent order with an Oregon regional bank for violations of Section 8 of RESPA, the FTC Act, and the FRCA, resulting in a civil monetary penalty totaling $425,000. After conducting its...more

Goodwin

Federal Banking Regulators Assess $65 Million Penalty Against Default Management Company

Goodwin on

On January 24, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve, and the Office of the Comptroller of the Currency announced a $65 million fine assessed against a default management...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

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Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Depository Trust & Clearing Corporation—the company that “serves as the back end for much Wall Street trading”—has announced a big step forward in the embrace of blockchain technology to track and report transactions. IBM...more

Stinson LLP

CFPB and DOJ Announce Joint Action Against Hudson City Savings Bank, F.S.B.

Stinson LLP on

On September 24, 2015, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) announced a joint action against Hudson City Savings Bank, F.S.B. (Hudson). The complaint alleges that Hudson...more

BakerHostetler

Consumer Financial Protection Bureau Levies Repayment, Civil Fines for Deceptive Mortgage Practices

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On Tuesday, July 28, the Consumer Financial Protection Bureau ordered Paymap Inc., a Colorado-based payment processing company and wholly owned subsidiary of Western Union Company, to repay consumers $33.4 million in fees and...more

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