Law and regulation

In an appeals court filing, the Consumer Financial Protection Bureau wrote that a federal judge "ignored regulatory text, history and context" when she ruled against a PNC customer. The consumer argues that the bank shouldn't have pulled funds from his checking account after he was tardy in making payments on his home equity line of credit.

The number of suspicious activity reports involving cryptocurrency topped 90,000 in 2021, according to the Financial Crimes Enforcement Network. The reason for the uptick may be that crypto is becoming more mainstream.

The Eleventh Circuit Court of Appeal split hairs and said each allegation must be examined to see whether it was not covered by the National Mortgage Settlement.

An investor alleged the independent mortgage bank failed to disclose the revenue hit from a refinance dip at the time of its initial public offering.

In a court filing, America’s Moneyline claimed the wholesale lender refused to fund over 100 loans held in its pipeline unless it ceased working with leading competitors.

United Wholesale Mortgage’s litigation could prompt regulators, including the Federal Trade Commission, to examine the contract that bars third-party originators from doing business with Rocket and Fairway.

The Community Home Lenders Association sent a letter to the Consumer Financial Protection Bureau Director Rohit Chopra stating that smaller and mid-sized mortgage bankers should be governed on assets, volume size and the extent of state oversight.

Is Bitcoin at a "tipping point" and could it one day be the currency of choice for trade? The future for digital currencies can be bright, but there are still risks involved. In this session join Yan Zhao, President of NYDIG as she explores: (1) the overall discussion of how Bitcoin is experiencing wider adoption in the traditional finance world, and why that is; (2) Recent partnerships in the financial sector and how they've helped evolve the space; and (3) how and why organization are embedding Bitcoin in various financial services products like lending, payroll, banking, and investing.

The federal sentencing of the onetime president of the Mortgage Bankers Association, Ron McCord, follows a guilty plea and admissions related to improprieties in warehouse lending and servicing arrangements.

The various bank and wire fraud charges in a federal indictment include conspiracy to defraud Quicken Loans (now Rocket Mortgage) for $1.3 million.