California's Department of Business Oversight said Friday that it will drop its effort to suspend Ocwen Loan Servicing's mortgage license in California. The Atlanta servicer had failed for more than a year to provide its California regulator with requested information
The consumer bureau and Maryland's AG allege the loan officers received consumer data and other services in return for business referrals.
Hearing arguments in Texas case, Justice Scalia and others were skeptical that the controversial legal theory used in fair housing cases should be invalidated.
Five Star Bank is the latest financial institution to settle claims that it avoided lending to minorities. More redlining cases can be expected, industry experts say.
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