Smoked: Shares of Ocwen stock plunged by more than half on Thursday after several states and the Consumer Financial Protection Bureau filed what the New York Times described as a "fusillade of lawsuits and enforcement orders" against the subprime mortgage servicer for a laundry list of alleged "systemic" abuses against homeowners, including illegal foreclosures, deceptive fees and mishandling of customers' mortgage payments. The company, which has been sued and reprimanded countless times in recent years, denied the accusations, calling them "inaccurate and unfounded." Wall Street Journal, Financial Times, New York Times, American Banker

You talk too much: Deutsche Bank agreed to pay $157 million in penalties to the Federal Reserve for alleged violations of foreign exchange and proprietary trading rules. The Fed said the German bank failed to detect that its FX traders talked about their trading positions with competitors on electronic chatrooms. It also didn't have a program in place to adequately comply with the Volcker rule on proprietary trading. Wall Street Journal, Financial Times

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