Links in “Fines, Penalties, Suits, and Settlements”

Agency's #2 says servicers have had more than a year to prepare for the reform rule that took effect last month, suggesting the CFPB would move quickly and harshly against violators. [2/20]

New report finds that the FDIC filed 40 D&O lawsuits in 2013, compared with 26 in 2012. [2/19]

The FDIC is seeking $15 million from eight former executives and board members of Habersham Bank, alleging they breached their fiduciary duty by approving negligent commercial real estate loans, leading to the failure of the Georgia bank in 2011 and a loss to the insurance fund of $141 million. [2/19]

Tampa homeowner sues B of A and U.S. Bank alleging that the banks delayed applying extra mortgage payments until the next mortgage payment was due. [2/17]

Evangelical Christian Credit Union of Brea, California, has been trying to foreclose on Without Walls International Church in Lakeland, Florida, since 2008. Without Walls, once the largest church in the state, has since abandoned the property and has resorted to a number of countersuits that have delayed the process. [2/17]

Inspector General's office finds that Fannie Mae and Freddie Mac lack consistent policies on charging late fees on outstanding loan repurchase requests. [2/13]

In an effort to deal with a flood of debt-collection lawsuits, some local courts are issuing summons to large groups of debtors to appear all at once, where they face attorneys representing debt collectors without a judge present. In an era when debt-collection practices are under increasing scrutiny, the "rocket docket" approach is a hotly debated topic. [2/12]

FinCEN files CMPs against Michigan MSB for serious and willful BSA violations involving failure to implement anti-money laundering efforts involving wires to Yemen. [2/10]

The ban on unfair, abusive or deceptive acts and practices is getting heavy-duty scrutiny. See what other financial institutions are being hit with. [2/7]

Forcibly charging homeowners for expensive property insurance premiums, a practice criticized by regulators, results in a $110 million settlement from Citigroup and Assurant. [2/7]