Law and legal issues

Marketing services firm LeadPoint said it thought it had gained compliance after Connecticut officials issued a prior consent order and penalty in 2020.

Loanstream allegedly made over 272,000 calls to over 53,000 unique numbers on the Do Not Call registry over a 10-month period, according to a case filing.

A federal judge refused to sign a settlement agreement between the Department of Justice and Houston developer Colony Ridge because it failed to provide any consumer relief. DOJ agreed to an out-of-court settlement instead.

The Consumer Financial Protection Bureau, which has dismissed scores of enforcement attorneys early in President Donald Trump's second term, is staffing up its litigation arm in anticipation of defending its rules in court.

Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.

A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.

An appellate court reversed part of an $8.5 million award for attorneys who secured a $38.5 settlement against the lender in 2023 in a False Claims Act case.

A United Wholesale Mortgage executive stepped in to defend a claim against the company, as consumers pelt the industry with more spam call complaints.

Lawsuits and probes are ramping up, and some courts have broadened the lending law's statute of limitations, said Bradley Partner Jonathan Kolodziej.

Finance of America has not disclosed any incident, but a consumer filed an immediate lawsuit over a lone report of a ransomware gang's recent hack.

A court and jury found a father-son executive team liable for wage violations, and a federal judge recently increased the amount of damages for plaintiffs.

The Department of Justice is seeking court approval to immediately fire more than 600 employees, slashing the CFPB's workforce by 53%.

The lender claims an originator ambushed executives in a negotiation with the confidential company financials and claimed to have shared them with competitors.

A federal judge granted the interview request for a brokerage accused of violating the megalender's restriction on selling loans to wholesale competitors.

The companies anticipate they will submit a joint stipulation of dismissal with prejudice within 45 days, according to a document filed Friday.

The federal court rejected Flagstar's attempts for both a panel rehearing and an en banc hearing to overturn California's interest on mortgage escrow rule.

A federal appeals court ruled mortgages in REMIC trusts may qualify as ERISA plan assets, reviving fiduciary duty claims against Onity in a case brought by a union pension fund.

The long-defunct Nationwide Biweekly Administration, accused in 2015 of deceptive marketing, has been ordered to pay a $7.93 million civil money penalty.

The Long Island-based lender is one of five nonbanks since January to have disclosed a prior hack, with the extent of those incidents remaining unknown.

Eleven defendants face fraud and money laundering charges in a California case involving elderly homeowners and private lenders, prosecutors said.