Compliance

The Department of Veterans Affairs distributed more than $400 million in refunded home loan fees after finding exempt borrowers were mistakenly charged due to clerical errors related to their disability status.

The court passed up a recent opportunity to clarify confusion about Americans with Disabilities Act requirements for business websites, raising concerns among bankers that they could become an even more inviting litigation target.

New plans for a ballot initiative in November 2020 threaten to overturn concessions that financial institutions, tech firms and other companies have won from state lawmakers.

Seven real estate companies are now facing age-discrimination complaints over allegations they used advertisements posted on Facebook to filter out potential clients over a certain age.

The agency put to rest speculation that it might take the database offline, yet new disclosure statements are meant to combat the notion that a complaint proves a company’s guilt.

The Federal Housing Administration updated its lender certification proposal originally issued this past May, as it looks to ease industry concerns on False Claims Act enforcement.

The Federal Housing Finance Agency has repeatedly reconsidered whether to add a language question to the GSEs' loan application, but its new director's latest call may finally resolve the question.

Gov. Gavin Newsom proposed Wednesday to spend California's share of a national mortgage settlement on legal assistance for struggling homeowners and renters, funds that lawmakers illegally diverted in 2014 to help erase the state's budget deficit.

The Department of Housing and Urban Development approved a settlement in favor of the California Reinvestment Coalition against CIT Group's OneWest Bank, which Steven Mnuchin ran before he became Treasury secretary.

The timing of the settlement serves as a warning to other companies of the risks they face in an increasingly data-focused economy.

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.

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.

Quicken Loans claimed victory in its dispute with the Department of Housing and Urban Development over the False Claims Act, only paying the agency for losses incurred and interest.

Private mortgage insurers can help to ease banks' compliance burden when it comes to the Current Expected Credit Loss accounting standard, an industry executive said.

The industry has long complained that gathering the data is confusing and costly but two plans issued by the CFPB could help lighten the burden for a significant portion of credit unions.

Alarmed about continued high nonmarket-based prepayment rates, Ginnie Mae is requesting input from lenders on how to make the mortgage-backed securities it guarantees fairer to investors without hurting borrowers.

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.

Director Kathy Kraninger said the agency will emphasize a confidential supervisory process instead of just doling out public enforcement actions. But skeptics worry this will let companies escape punishment.

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors.

Along a stretch of South Los Angeles near the Expo light rail line, investment dollars are pouring in.