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Castle & Cooke case revisited in newly filed class-action suit
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Consumer Protection
Wednesday, October 22, 2014
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A class-action lawsuit filed in California federal court may breathe new life into a case settled nearly a year ago between the CFPB and a Utah mortgage lender for an alleged “secret, illegal bonus program” in violation of the Consumer Financial Protection Act and Regulation Z. Among the allegations in the new lawsuit are that C&C Mortgage violated TILA, even after the Dodd-Frank Act amended loan originator compensation requirements in the statute. Read on for details of this new development in a year-old case.
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