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Results 1 - 10 of 648 |
Posted Date: Friday, April 19, 2024
The Consumer Financial Protection Bureau is aiming to streamline its nonbank designation protocols with a new procedural rule that builds on its previous actions toward implementing a long “dormant” statutory authority. The procedural updates include the reallocation of certain duties to the director that previously fell to specific assistant and associate director roles. Read on »
Posted Date: Friday, April 19, 2024
Financial industry advocates are calling for federal policies to address the “skyrocketing” numbers of “pig butchering” scams. The Treasury Department’s Financial Crimes Enforcement Network and the Department of Justice have issued warnings to financial institutions and the broader public about the dangers of these types of crimes, which are often perpetrated through online channels using virtual currencies. Read on »
Posted Date: Friday, April 12, 2024
To facilitate information sharing regarding nonbank mortgage companies, the Federal Housing Finance Agency (FHFA) and the Conference of State Bank Supervisors entered into a memorandum of understanding establishing protocols between state financial regulators and the FHFA. Read on »
Posted Date: Tuesday, March 26, 2024
The Securities and Exchange Commission sought a $21 million civil money penalty from Genesis Global Capital, LLC, to settle claims the company failed to register its retail crypto lending products before offering them to the public. Read on »
Posted Date: Tuesday, March 26, 2024
FNF Family of Companies’ Chuck Cain and Mortgage Connect’s Gabe Minton were featured in October Research, LLC’s “RESPA: Ensuring Fintech Partner Compliance” webinar. The two field experts highlighted what you should consider when entering into and maintaining fintech partnerships. Read on »
Posted Date: Friday, March 22, 2024
The Federal Trade Commission (FTC) secured $59 million in total remediation from two fintechs charged with making false promises to small businesses seeking Covid-19 relief through the federal Paycheck Protection Program. The settlements mark the largest damage total ever obtained by the agency under the FTC Act. Read on »
Posted Date: Tuesday, March 5, 2024
The Consumer Financial Protection Bureau recently invoked its “dormant” Dodd-Frank Act authority when it issued its first supervisory designation order to a nonbank installment lender. The notice outlined activities that the bureau determined could pose a risk to consumers. Read on »
Posted Date: Friday, March 1, 2024
The Securities and Exchange Commission recently issued $81 million in total fines against 16 financial firms for widespread recordkeeping failures. Examiners determined employees, including some in senior leadership, engaged in “off-channel” communications and the mishandling of electronic correspondence. Read on »
Posted Date: Friday, February 23, 2024
United Wholesale Mortgage (UWM) filed suit against Mortgage Solutions FCB and its owner for breach of contract and trademark infringement. The lawsuit points to a private Facebook group which uses the UWM logo and serves as a platform for mortgage brokers to share accounts of UWM and its “All In” ultimatum. Read on »
Posted Date: Tuesday, February 20, 2024
In a move that would make Capital One Financial Corp. the largest credit card company in the U.S., the company announced it has entered into a $35.3 million merger agreement with Discover Financial Services. If approved by federal regulators, the combined entities would be positioned to compete with the world’s largest payment providers. Read on »
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