Law and legal issues

The case brought by the Westchester, New York District Attorney alleged the perpetrators stole three properties from distressed owners and unlawfully obtained $1.5 million of fix-and-flip financing.

The proposal would bring companies cited for civil enforcement actions under its scope to bar them from doing business with the government-sponsored enterprises.

Plaintiffs claim executives made a series of misleading statements in spring 2021, as the industry giant began to face headwinds in originations.

Churchill Funding is accusing Easy Financial of reneging on a master purchase agreement both companies signed in 2020.

A challenge to the SEC's use of administrative law judges could have big implications for bank regulators. The FDIC, Fed, OCC and CFPB could be forced to go to federal court in cases that would otherwise be handled in-house.

It's the second lawsuit in the past two months that the New Jersey-based lender has filed against a former branch manager for a six-figure retention bonus.

The company, which is winding down operations, is seeking over $4.6 million from seven industry partners.

Black Americans experienced denial rates of 16.4% in 2022, up from 15.7% the year before, the Federal Financial Institutions Examination Council said last week.

Wells Fargo directed its bilingual team to steer customers away from products with no closing costs toward "predatory lending options" without disclosing the costs, in part by refusing to provide Spanish-language written materials, according to the complaint.

The lender claims its rival enticed workers with all-expenses paid recruiting trips, while another employee alleged a $125,000 signing bonus for workers who switched firms.