Law and legal issues

A second class action has been filed in the state of California and more cases are brewing.

The defendants are seeking more detailed information about what the bureau found as far as the extent of the alleged staff licensing violations.

16.6 million former and current Loandepot customers had their data leaked, the lender and servicer announced Monday.

The wholesale giant said it will appeal the "politically driven ruling" as it remains pending final approval by the National Labor Relations Board.

By overturning so-called "Chevron deference," the Supreme Court could compel lawmakers to be less ambiguous in their legislative language, limiting agencies' interpretative power.

All of the class actions will be consolidated into a single case under plaintiff Jennifer Cabezas, who was the first of the 20 to bring a motion against the company.

The escalating case would set a new precedent if it established fiduciary duties for entities that manage securitized mortgages that pension funds invest in.

Separately, the agency said it could develop a new type of reverse mortgage securitization, and another RMF development that could affect the bank emerged.

The Supreme Court will hear oral arguments in two cases seeking to overturn the legal principle known as "Chevron deference," that could usher in a new era of litigation by corporations against government agencies.

A coalition of financial trade groups issued a joint comment letter asserting that the federal bank regulators' proposed capital rule lacked justification and evidence required by the Administrative Procedure Act, threatening legal action if regulators don't delay and significantly amend the rule.