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Eight years after high-risk, deceptive lending practices precipitated a near-meltdown of the global economy, we learned that at least 5,300 Wells Fargo employees created 2 million sham accounts that its customers apparently did not want, need or understand.
September 28Matterhorn Transactions, Inc. -
Republican presidential nominee Donald Trump used the first debate to attack the Federal Reserve Board, reiterating accusations that it has purposely kept interest rates low to help President Obama.
September 27 -
Restoring consumer confidence in financial services won't be easy after the latest banking brouhaha, but the Consumer Financial Protection Bureau can help by proactively holding all mortgage loan officers to the same federal licensing standard.
September 26Community Home Lenders of America -
The number of unique individuals holding state mortgage licenses has risen 7.5% from one year ago, according to the Nationwide Multistate Licensing System.
September 22 -
The mortgage industry is failing communities of color by not providing adequate access to conventional loan products, calling into question the future of the housing market and the nation's ability to turn the tide of rising wealth inequality.
September 22Center for Responsible Lending -
Republican lawmakers are pushing back against claims by the Consumer Financial Protection Bureau's allies that it rooted out fraud at Wells Fargo, arguing the L.A. City Attorney and the Los Angeles Times brought the situation to light.
September 21 -
Federal Reserve Chair Janet Yellen pushed back against the notion that banks might be "too big to manage," saying that despite concerns raised by the recent scandal at Wells Fargo, there is no inherent reason why large banks cannot meet existing standards of conduct.
September 21 -
Contrary to expectations about growing mortgage lending volumes, current industry trends suggest a gradual reduction in capacity for both lending and servicing that should alarm policymakers.
September 21Whalen Global Advisors LLC -
A top CFPB official said that lenders have adjusted their business models and practices to comply with new rules, while MBA CEO David Stevens called on the Federal Housing Administration to clarify its underwriting standards.
September 19 -
House Democrats made an unusual move this week to avoid offering amendments or engaging in debate over a massive financial reform bill. Here's why.
September 15