The three-year-old U.S. consumer protection agency said it discovered that the largest mortgage servicers have been mishandling loan modifications and harming borrowers since new rules came into effect in January.
Read More »U.S. sues Kansas City payday lenders
A federal judge shut down two online payday lending operations after U.S. regulators said they extracted more than $36 million from customers who never agreed to loans.
Read More »Next U.S. bank bailout could come after a cyber-terror attack
Bankers and U.S. officials have warned that cyber-terrorists will try to wreck the financial system’s computer networks. What they aren’t saying publicly is that taxpayers will probably have to cover much of the damage.
Read More »Prosecutors: Bitcoin firms need tougher rules than banks
Virtual-currency firms should face regulations that are tougher than those for established financial-services providers because of their ability to hide criminal activity, law enforcement officials said at a New York hearing.
Read More »Binding arbitration faces consumer bureau regulation
Arbitration clauses in contracts for checking accounts, credit cards and other products may face regulation from the U.S. Consumer Financial Protection Bureau, the agency said this week.
Read More »Missouri joins $2.1 billion settlement with Ocwen
A $2.1 billion settlement announced today with mortgage servicing giant Ocwen Financial Corp. could mean $14 million in relief for Missourians. (Updated at 10:30 a.m.)
Tagged with: Chris Koster foreclosures
Read More »