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The Consumer Financial Protection Bureau (CFPB), together with attorneys general and state banking regulators in 49 states, and the District of Columbia obtained a Consent Judgment requiring Ocwen Financial Corporation—who at the time, was the largest nonbank mortgage loan servicer in the country—and its subsidiary, Ocwen Loan Servicing, to ...
Normally, the phrase "mortgage fraud" evokes images of borrowers lying on their loan applications or, more recently, foreclosure rescue scams. You don't often hear about the bank perpetrating the ...
Was the financial crisis caused by "systemic failure" or mortgage fraud? Or a combination of the two? And why are so many American homeowners still paying the price?
At least one judge in a case involving her documents has recognized the conflict of interest inherent in a law firm assigning the property of one entity, presumably its client, to another entity ...
racial discrimination in its allocation of farm loans and assistance: 1999/2010 Price v. Philip Morris, Inc: cigarette company advertising class action led by plaintiff's attorney Stephen Tillery resulted in $10.1 billion judgement [1] Madison County, Illinois: 2003/2006 Ritalin class action lawsuits: promoting disorder ADHD to increase drug ...
The Fraud Enforcement and Recovery Act of 2009, or FERA, Pub. L. 111–21 (text), S. 386, 123 Stat. 1617, enacted May 20, 2009, is a public law in the United States enacted in 2009. The law enhanced criminal enforcement of federal fraud laws, especially regarding financial institutions, mortgage fraud, and securities fraud or commodities fraud.
In December 2010, the SEC, the Department of Justice and other federal and state agencies announced the results of "Operation Broken Trust", a coordinated effort by the Financial Fraud Enforcement Task Force to target investment fraud. The operation resulted in prosecutions against 310 criminal defendants involving $8.3 billion in losses and ...
Savings interest rates today: Save smarter at 10x the average with yields of up to 4.50% — Jan. 9, 2025