The Consumer Financial Protection Bureau (“CFPB”) is issuing rules to prevent mortgage lenders from steering borrowers into risky, high-cost mortgage loans. The new rules will prohibit certain incentives that loan originators previously had which led them to sell costly and risky loans to borrowers prior to the financial crisis.
The Consumer Financial Protection Bureau (“CFPB”) issued final rules on January 10, 2013 to strengthen consumer protections for high-cost mortgages and to provide consumers with resources on home ownership counseling.
A federal judge rejected a proposed settlement of charges against Raleigh-based WakeMed arising from false claims submitted to Medicare. A criminal charge for making false claims for Medicare payments was lodged against WakeMed by the U.S. Attorney for the Eastern District of North Carolina.
Last week, federal banking regulators announced an $8.5 billion settlement with banks and touted the deal as providing quick relief for aggrieved homeowners. Critics, however, charged that the deal was actually a means to quietly end a deeply flawed review of foreclosed loans.
The Consumer Financial Protection Bureau (“CFPB”) has adopted a new rule aimed at protecting consumers from irresponsible mortgage lending by requiring lenders to ensure that prospective purchasers have the ability to repay their mortgage.
The Federal Trade Commission (“FTC”) has long been aware that older people are often victims of fraudulent activity, perhaps due in part to their tendency to accentuate the positive. According to the FTC, up to 80 percent of scam victims are over the age of 65.
A woman suffers severe injuries when she falls 25 feet while trying to slide down the rail of an escalator. The accident occurrs as she's leaving a work-sponsored dinner, where her employer served alcohol. Are her injuries covered by workers' compensation?
North Carolina businesses have unfairly profitted by avoiding all of the costs and liabilities of treating 'temps' as their employees, while still maintaining all of the benefits and protections. This arrangement that allows businesses to 'have it both ways' may be at an end.
Bank of America will pay more than $10 billion to settle claims over troubled mortgages. The settlement involves some 30,000 loans.
Last Friday, federal regulators finalized and announced the settlement of a whistleblower suit alleging that a group of doctors performed medically unnecessary cardiac procedures on patients. The settlement requires an Ohio hospital to pay $3.9 million and a physician group to pay $541,870.
The Consumer Financial Protection Bureau (“CFPB”) recently announced that consumers that were unlawfully charged advance fees for debt-settlement services will receive refunds.
Japanese-based Toyo Inc. and various affiliated companies have agreed to pay $45 million to settle claims that they violated the False Claims Act by knowingly failing to pay anti-dumping and countervailing duties which are assessed by the U.S. Department of Commerce.
The Consumer Financial Protection Bureau (“CFPB”) recently announced actions to shut down mortgage loan modification scams that had victimized thousands of distressed homeowners throughout the nation. The scams took in more than $10 million by charging consumers for services that falsely promised foreclosure avoidance assistance or renegotiation of mortgages.
Banks were fined a record of more than $10.7 billion in 2012 for various misdeeds ranging from manipulating interest rates to improperly foreclosing on distressed homeowners.