Enforcement

The scheme targeted distressed homeowners in the Filipino community, most of whom were nonnative English speakers, forcing some of them into bankruptcy and homelessness, according to law enforcement officials.

The final consent order contained the largest penalty, for $1.8 million to be paid by Low VA Rates. In total, the CFPB has issued $4.4 million in fines for such marketing of VA loans.

The agency’s consolidation of supervision and enforcement policy into one office could compromise the independence of those deciding when to investigate alleged wrongdoing by banks and others, critics of the move say.

If the underwriters' option is exercised, proceeds will bring in $112 million instead of a possible $176 million.

The agency had raised concerns in the Obama administration about kickbacks in the marketing pacts between mortgage lenders and other providers, but the agency's recent guidance says the deals are legally viable.

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

A Quincy, Mass., real estate broker pleaded not guilty to nine charges, including money laundering and forgery, for what prosecutors say is the theft of $800,000 from deposit checks.

The former attorney general for the state went her own way on the national servicing settlement, but critics claim she let OneWest off easy.

A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

Citing possible exploitation, Bank of America instituted a policy that put limits on loans to persons in guardianship. It later ended the policy.