Links in “Banks”

After peaking in 2006–2007, reports of suspected fraud received by the regulator fell by 25% last year. [8/21]

A recap at last week's update to exam procedures finds they generally "restate existing rules with little added value." [8/20]

Retracing America's steps from small banks along main street to the shadows cast by today's megabanks. [8/20]

Complaint from former chief appraiser alleges company recruited mortgage brokers and loan officers by telling them they could provide their own personal list of appraisers to be included on the approved panel for the appraisal process, a violation of Truth in Lending Act rules. [8/20]

Files being uploaded from employee computers to a common file-sharing service seemed innocuous, until it was determined that those employees never created the file-sharing accounts; malware did. [8/20]

In a hearing scheduled for this Wednesday, the Federal Reserve will advise a federal district court judge on whether it can issue an interim final rule to lower the debit interchange fee cap and to revise the network requirements; hearing follows the district court’s ruling that invalidated the Fed’s current debit card interchange rule and could potentially lead to a requirement that card issuers refund merchants for a portion of the fees charged since the Fed’s final rule went into effect. [8/19]

False statements pertaining to income, employment, and rental history were backed by people paid to answer calls from lenders to affirm the false statements; costs for disability access modifications were also included in the prices, but were rarely done, with children of buyers named as building contractors so money could go to the buyers. [8/19]

Among other enforcement actions, former banker in South Dakota banned from banking for selling customer information to an outside party, which used that information in a fraudulent check-cashing scheme that cost the bank nearly $50K. [8/19]

Investigations said to be brewing against foreclosure law firms that own ancillary service firms that generate inflated pass-through costs on the lawyer’s bill. [8/19]

Bank provides 45-day notice to the customer, who provides flood insurance but at an inadequate amount; bank asks if it is necessary to send another 45-day notice. [8/19]