Compliance

The Consumer Financial Protection Bureau (CFPB) has charged Prospect Mortgage LLC with paying illegal kickbacks for mortgage business referrals and ordered it to pay a $3.5 million civil penalty
Another bill has been introduced into the U.S. Senate that challenges the current state of the Consumer Financial Protection Bureau (CFPB).   Sen. Mike Rounds (R-SD), a member of the Senate Banking Committee, introduced legislation to eliminate the CFPB’s funding stream from the Federal Reserve.... Keep Reading....
The Senate Minority Leader issued a harsh warning to the incoming President of the United States: Do not fire Consumer Financial Protection Bureau (CFPB) Director Richard Cordray. According to a Reuters report, Sen. Chuck Schumer (D-NY) used a press call to warn President-Elect Donald Trump that he... more
After prolonged negotiations punctuated by news leaks, the U.S. Department of Justice (DOJ) has announced a settlement with Deutsche Bank regarding charges that the German financial institution misled investors in the packaging, securitization, marketing, sale and issuance of residential mortgage-... more
President-Elect Donald Trump has asked William Russell, executive director of Florida’s Sarasota Housing Authority, to serve as special adviser in the transition to a new leadership configuration at the Department of Housing and Urban Development (HUD). The Sarasota Herald-Tribune reports that... more
The National Association of Realtors (NAR) has become the latest trade organization to support the nomination of Dr. Ben Carson to become the next Secretary of the U.S. Department of Housing & Urban Development (HUD). “Dr. Carson has shown a clear commitment to ensuring all Americans have... more