Enforcement

The consumer agency alleges Townstone Financial's CEO and president made statements on a radio show discouraging applicants living in Black neighborhoods from seeking home loans.

The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cellphones for government-related debt collection.

An Idaho court has ruled against a Treasure Valley resident for his role in a Ponzi scheme that bilked millions from real estate investors.

A former Hillsborough County, Fla., mortgage broker has been sentenced to 15 months in federal prison for his role in a scam to which banks lost more than $5 million.

A federal grand jury indicted Ronald J. McCord, 69, of Oklahoma City, on charges of defrauding two banks, Fannie Mae, and others of millions of dollars, money laundering, and making a false statement to a financial institution, said Timothy J. Downing, U.S. attorney for the Western District of Oklahoma.

The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.

The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.

A Rapid City, S.D., real estate agent must serve more than a year in prison and pay $124,645 in restitution after pleading guilty to tax evasion.

Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.”

Finance of America Reverse agreed to pay $2.5 million to settle allegations that a company it acquired violated the False Claims Act for loans submitted for Federal Housing Administration insurance in 2010.