Enforcement

Navy Federal Credit Union, the largest credit union in the country, agreed Tuesday to pay $28.5 million to settle regulatory allegations it engaged in illegal debt collection practices.

Talk show hosts have had a field day with the Wells Fargo phony-accounts scandal, underscoring just how much it has hurt the bank's reputation.

The bank's fake account scandal is further reason to make the results of Wells' 2012 Community Reinvestment Act exam public.

U.S. Bancorp has agreed to settle a lawsuit that claimed it neglected to maintain foreclosed properties in Southern California after the 2008 financial crisis.

Deutsche Bank jumped in Frankfurt trading after a media report that the lender is nearing a $5.4 billion settlement with the U.S. Department of Justice in a probe tied to residential mortgage-backed securities, less than half an initial request.

An FHA lender was cited for violating Department of Housing and Urban Development rules by allowing repayment provisions in second mortgages.

BB&T Corp. has agreed to pay $83 million to settle a Department of Justice investigation over loans that failed quality control tests but were still insured by the Federal Housing Administration.

The Department of Justice wants banks to more fully cooperate with civil investigations. Companies now are expected to "materially assist" the agency in providing documents, access to witnesses and even inculpatory documentary evidence such as emails and text messages.

Deutsche Bank isn't the only lender wrestling with the U.S. to resolve an investigation into toxic mortgage bonds: Credit Suisse Group and Barclays are also each in settlement talks with the Justice Department.

Royal Bank of Scotland Group agreed to pay $1.1 billion to settle the first of three major U.S. mortgage-backed securities probes the bank must overcome before it can resume dividend payments.

The Consumer Financial Protection Bureau filed a lawsuit against a Van Nuys, Calif., credit repair company for deceptively marketing its services and charging consumers illegal fees.

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.

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.

Goldman Sachs has passed its first compliance test as part of its mortgage-related settlement agreements, the independent monitor reported.

Deutsche Bank said the U.S. Justice Department is seeking $14 billion to settle a probe tied to residential mortgage-backed securities, more money than it's willing to pay.

The Consumer Financial Protection Bureau can determine nearly anything to be an unfair, deceptive or abusive act or practice, and it's more likely to do so when lenders try to take advantage of regulatory loopholes.

Regions Financial Corp. has agreed to pay $52.4 million to settle allegations that it violated the False Claims Act by originating and underwriting mortgages that did not meet Federal Housing Administration requirements.

Regardless of who wins in November, the mortgage industry will see significant changes, but Hillary Clinton and Donald Trump would take very different approaches to housing and regulatory issues, said Mortgage Bankers Association President and CEO David Stevens.

Ocwen Financial Corp. failed two compliance tests related to force-placed insurance during the fourth quarter of 2015, according to the monitor of the National Mortgage Settlement.

A California man was sentenced to 52 months in federal prison over his role in an alleged mortgage loan modification scheme.