News & Analysis as of August 16, 2025

Financial Institutions

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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 +

Federal Judge rejects request to release ESSA Bank from redlining settlement

Ballard Spahr LLP on 7/29/2025

A federal judge has rejected the Trump Administration’s request to release from court supervision a bank that had been accused of discriminatory lending....more

CFPB terminates consent order against mortgage servicer

Orrick, Herrington & Sutcliffe LLP on 7/7/2025

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

District court receives amicus brief against CFPB and defendants’ motion to vacate a final judgment

Orrick, Herrington & Sutcliffe LLP on 4/14/2025

On April 4, the U.S. District Court for the Northern District of Illinois received an amicus brief from multiple nonprofits opposing a joint motion to vacate a final judgment in a case involving the CFPB and a mortgage...more

CFPB seeks approval of Townstone Financial order

Ballard Spahr LLP on 11/7/2024

Following lengthy litigation, the CFPB is attempting to close the books on its case against Townstone Financial alleging discriminatory lending practices and redlining African American neighborhoods in Chicago....more

State AGs and State Money Transmission Regulators Settle With Payment Processor Over Unauthorized Mortgage Withdrawals

Troutman Pepper Locke on 10/20/2023

On October 17, 52 state and territorial attorneys general, in addition to state money transmission regulators, entered into settlements amounting to more than $20 million with ACI Worldwide (ACI), to resolve claims involving...more

Real Property & Title Insurance Update: Weeks Ending November 18 & 25, 2016

Carlton Fields on 12/2/2016

REAL PROPERTY UPDATE - Settlement/Waiver: borrowers permitted to raise affirmative defenses and counterclaims against lender where subject Loan Modification Agreement failed to include waiver of claims, affirmative...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 11/2/2016

Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more

Financial Services Weekly News - October 2015 #3

Goodwin on 10/22/2015

Regulatory Developments: FINRA Requests Comment on Rules Relating to Financial Exploitation of Vulnerable Adults - On Oct. 15 FINRA published Regulatory Notice 15-37, requesting comment on proposed amendments to...more

Justice Department Recovers Nearly $6 Billion From False Claims Act Cases in 2014

Carlton Fields on 10/7/2015

The U.S. Department of Justice (DOJ) obtained a record $5.69 billion in settlements and judgments from civil cases involving fraud and false claims against the government in fiscal year 2014. This marks the first time the DOJ...more

Settlement Proceeds: When Does Cash Become Quasi Real Estate?

Troutman Pepper on 9/2/2015

Farmer v. Citizens Nat’l Bank of Athens (In re Davis), 528 B.R. 757 (Bankr. E.D. Tenn. 2015) – A chapter 7 trustee sought a court determination that the trustee had a superior claim to settlement proceeds arising from...more

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