Law and legal issues

But attorneys for the small Chicago-based mortgage company remained defiant and actually welcomed the Bureau's move.

Former employer NFM Lending filed a lawsuit claiming the pair breached their contracts by soliciting customers and co-workers at their new jobs.

The title insurer was the third of the big four companies to come to an agreement with New York Attorney General Letitia James in an ongoing investigation.

Convicted former MBA Chairman Ron McCord and his Oklahoma-based company settled CapLoc's allegations that they put fraudulent loans on a funding line.

The company's rejection of the plan cost the homeowners a competitive rate last year as interest rates soared, their attorney alleged.

The company asserts that a settlement in a different case already released the claims at issue related to representations made in the Home Affordable Modification Program.

A federal appeals court ruled in favor of the Consumer Financial Protection Bureau, setting up a court split ahead of a highly anticipated Supreme Court hearing in October. The Fifth Circuit previously ruled that the agency's funding mechanism violates the Constitution's separation of powers doctrine.

The lawsuit alleges the Pennsylvania-based lender also attempted to solicit and induce other franchisees to leave.

Former employees impacted by layoffs claim the Illinois-based lender did not give them a 60-day notice as required by the WARN Act.

The Ohio-based bank concentrated most of its lending branches in majority-white neighborhoods and did nothing to compensate for its lack of physical presence, the DOJ claims.

Consumer Financial Protection Bureau Director Rohit Chopra says the bureau is continuing with its enforcement agenda and that financial firms face risks from the Supreme Court case.

The war of words between the industry giants in federal court continues as the parties debate an injunction against CrossCountry Mortgage.

The Consumer Financial Protection Bureau has asked the high court to overrule a lower-court decision that threatens its funding structure. The justices didn't accept the case on Tuesday, but experts say it could still make the cut in the coming week.

The lender paid workers in commissions, and failed to provide a minimum wage over pay periods in which no loans were originated, counsel alleges.

The company had asked that the case be dismissed given its similarity to previously settled claims. It's weighing an appeal.

Things turned sour soon after the sides agreed to a two-year, $6 million deal in late 2021, in which the mortgage company's logo would appear on a stock car during eight races, among other perks.

Michael Strauss and his previous lending company still face four federal lawsuits from creditors and laid off workers seeking backpay.

Real estate players were under fire last month for unsolicited calls, including Keller Williams which agreed to pay a $40 million settlement over alleged violations.

The bank's delay in investigating the case forced the plaintiff to resign from the bank in July 2021, according to the complaint. Wells said that it takes allegations of misconduct "very seriously."

Townstone Financial in Chicago had been accused of discriminating against certain consumers by trying to discourage them from applying for home loans. However, a judge ruled that federal law protects only actual applicants.