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On June 12, the U.S. District Court for the Northern District of Illinois denied a motion to vacate a November 2024 stipulated final judgement and order requiring a Chicago-based mortgage broker to pay a $105,000 civil money penalty and adopt five-year compliance plan.

An investment adviser settled SEC charges for policy and procedure failures, prohibited adviser transactions and the misuse of material non-public information.

An investment adviser settled SEC charges for breach of fiduciary duty in connection with its affiliates' receipt of third-party compensation, particularly Rule 12b-1 fees, related to the sale of shares in mutual funds.

An investment bank agreed to pay over $2 billion to settle claims that it engaged in a fraudulent scheme to sell residential mortgage-backed securities ("RMBS") ...

On July 26, the CFPB released its Summer 2023 Supervisory Highlights reporting unfair, deceptive, and abusive acts or practices (UDAAPs) across a number of consumer financial products...

Senate Bill 3 (awaiting the Governor’s signature) significantly amended the provisions of Chapter 2210 of the Insurance Code providing for the issuance of public securities by the Texas Public Finance Authority to pay insured losses of the Texas Windstorm Insurance Association ("TWIA").

The lender agreed to (i) a $2.175 million civil money penalty and (ii) injunctive relief to cease ongoing violations and prevent future violations.

McGuireWoods has provided comments to the SEC on several aspects of the proposed rules to implement the Say-on-Pay provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

On September 1, 2011, Andrews Kurth issued an alert advising of two recent filings by the Municipal Securities Rulemaking Board ("MSRB") with the Securities and Exchange Commission ("SEC") in which the MSRB had proposed important new standards of conduct for municipal advisors under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Lenders dealing with Missouri borrowers should be aware of a small, but very important, change in Missouri law regarding credit agreements that becomes effective on August 28, 2013.

The case is based on claims that JPMMAC breached its obligation to repurchase mortgage loans originated by WMC that violated certain representations and warranties.

The New York City Chief Administrative Law Judge has held that Astoria Bank was not required to include in its combined New York City bank tax returns its Connecticut subsidiary that held non–New York mortgage loans.

An act passed by Congress last year makes changes to IRS Form 1098 (Mortgage Interest Statement) starting in tax year 2016 (reported commencing in calendar year 2017).

The New York Attorney General filed charges against Exxon Mobil Corporation ("Exxon") for inaccurately reporting an estimate of potential costs related to climate change regulation.

New York Attorney General Letitia James opposed CFPB proposals to increase reporting thresholds and/or reduce transparency under the Home Mortgage Disclosure Act.

The New York State legislature is considering extending the application of the mortgage recording tax to mezzanine debt financings.

On February 11, 2015, the Office of the Comptroller of the Currency (OCC) issued an "updated" installment to the Comptroller’s Handbook in a new booklet entitled "Deposit-Related Consumer Credit."

In Olsak, the borrowers called as a witness at trial a mortgage foreclosure fraud investigator and securitization officer, who was not a lawyer.