Law and legal issues

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.

The potential class of 140 impacted professionals is entitled to damages of at least $43 million, an attorney wrote.

The case involved incidents occurring in early 2021, when an unauthorized individual obtained access to files containing personal identifiable information of consumers.

An executive at the firm also signed a $475,000 judgment against it from another mortgage player, although a federal judge has yet to sign off on the agreement.

Plaintiffs allege that the Plano, Texas-based lender failed to adhere to WARN requirements when it laid off employees "without cause" or notice in June.

A former branch manager allegedly directed 15 loans worth $7 million to the Ohio-based adversary during a three-month period.