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In late July, the Justice Department notified the Houston bank of a potential lawsuit alleging violations between 2013 and 2017, according to a securities filing. Cadence said that its prospective merger partner, BancorpSouth, supports the settlement discussions.
August 2 -
The Michigan lender agreed in 2012 to pay $133 million to resolve civil fraud charges tied to government-backed mortgages. But the deal with the Justice Department came with a catch that eventually allowed Flagstar to pay far less.
April 15 -
The three companies agreed to pay a total of $74 million in remediation.
December 7 -
A lower court “erred” when it sided with Fannie Mae and Freddie Mac’s investors, the Justice Department said in its petition to the high court.
October 30 -
A list of upcoming cases published by the high court did not include a challenge to the bureau's constitutionality, but the justices could still decide to review it at a later date.
October 15 -
The agency's director told congressional leaders and staff that she backs a Supreme Court challenge to the bureau's leadership structure.
September 17 -
Mortgage lenders might be feeling a little less stressed over False Claims Act actions being brought against them following recent headlines but there is still some work to be done before they can chill out.
July 2 -
The CFPB did not file any fair-lending enforcement actions in the 2018 fiscal year and did not refer any Equal Credit Opportunity Act violations to the Department of Justice.
July 2 -
The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.
April 8 -
UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.
November 8