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Several federal agencies and 49 state attorneys general struck a $968 million settlement Tuesday with SunTrust Mortgage over charges that it violated laws governing mortgage origination, servicing and foreclosures.
June 17 -
The California Housing Finance Agency is now offering all low- to moderate-income Californians an affordable mortgage loan program that includes down payment assistance and was originally designed for first-time buyers.
June 17 -
When the qualified mortgage rule took effect in January, many predicted the rule would stifle lending to low-income and minority borrowers. But a credit crunch never materialized, thanks to exemptions given to federal mortgage agencies.
June 17 -
Identifying which borrowers are likely to repay short-term, small-dollar loans could help lower costs for both consumers and the financial services industry.
June 17
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The state of New York's crackdown on illegal online payday loans is being ratcheted up, with Bank of America (BAC) taking unprecedented steps to help state officials ferret out misconduct.
June 17 -
New York officials have created a database of blacklisted lenders, and Bank of America has agreed to use it. Authorities hope that other banks will follow suit.
June 16 -
WASHINGTON A financial education partnership between public libraries and the Consumer Financial Protection Bureau has skyrocketed to more than 98 library systems in the two months since the pilot program launched.
June 16 -
Regulators' evaluation of last year's "living wills" submitted by the biggest banks was touted as an important step in ending "too big to fail," but the agencies have failed to provide any feedback on previous plans just weeks before the next set are due.
June 16 -
The widely repeated narrative about AIG ignores or downplays a critical aspect of its downfallthe insurers securities lending program run for the benefit of its regulated life insurance subsidiaries.
June 16 -
The Supreme Court told a lower court to take another look at a ruling that let the National Credit Union Administration sue a group of banks for allegedly deceiving investors about mortgage-backed securities.
June 16
