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The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601–2617.
For example, HomeStreet Bank, based in Seattle, paid $1.35 million for RESPA violations in 2019, and Freedom Mortgage Corporation out of Boca Raton, Florida, got hit with a $1.75 million RESPA ...
The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
Doing so is a violation of federal law and any person or business doing so can be fined or lose its license. Section 9 of RESPA prohibits a seller from requiring the buyer to use a particular title insurance company, either directly or indirectly, as a condition of sale.
Introduced in the House as "Financial Institutions Reform, Recovery and Enforcement Act of 1989" H.R. 1278 by Henry B. Gonzalez (D-TX) on March 6, 1989; Committee consideration by House Banking, Finance, and Urban Affairs, House Government Operations, House Judiciary, House Rules, House Ways and Means
In other cases, such as public safety and consumer protection violations, the local authorities may revoke permits and licenses, and seek injunction to stop or remove non-conforming works or goods, in addition to the civil penalty. Pending or admitted civil violations may also be used as evidence of responsibility in a civil suit.
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector.CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the ...
Week 3: Missed pass interference on Kyle Pitts. The Chiefs got away with one late in a win at the Atlanta Falcons. Safety Bryan Cook clearly committed a pass inference penalty on Pitts in the end ...