Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
Facebook revealed on Wednesday that it’s expecting a one-time $3 to 5 billion FTC fine over privacy violations, an amount that would be a “record penalty for a technology company by the agency.” In preparation, Zuck & co....more
US banks are reporting that cases of financial abuse of seniors are on the rise. Treasury department data showed a 2-fold increase in suspected cases from just 5 years ago and a 12% increase from just a year ago....more
The Journal reported yesterday that more than 6,000 Wells Fargo branches were routinely tipped off to inspections by internal risk monitors, a practice that allowed the bank’s sham-account scandal to go undetected for years....more
The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more
If you purchase a mortgage, how can you prove the amount due in a subsequent foreclosure lawsuit? That is the question that is raised in a series of recent Florida court cases. Proving the amount due at trial is sometimes...more
In This Issue: - Financial Industry Developments •CFPB Rules on Ability-to-Repay and Qualified Mortgages •Independent Foreclosure Review Settlement •CFPB Final Rules on High-Cost Mortgages •Rating Agency...more