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A firm settled FINRA charges for failing to journal approximately 6 million emails on its correspondence review platform.

A broker-dealer settled FINRA charges for failing to supervise the suitability of its representatives' recommendations to customers on early rollovers of Unit Investment Trusts.

A firm settled FINRA charges for negligently misrepresenting cost basis information on numerous Forms 1099 and customer account statements.

A firm settled FINRA charges for reporting violations involving the MSRB's Short-Term Obligation Rate Transparency System.

A firm settled FINRA charges for failing to submit accurate trade information to the Order Audit Trail System ("OATS") and the Over-the-Counter Reporting Facility ("OTCRF").

A firm settled FINRA charges for inadequate written supervisory procedures in connection with certain private placements, and for failing to make timely private placement filings.

A firm settled FINRA charges for violations of content standards in private offerings sold by the firm and sent to potential investors.

Two affiliated broker-dealers settled FINRA charges for inadequate supervision of the "rollover" of investments in Unit Investment Trusts.

A Florida state court has weighed in on whether strict or substantial compliance is required when providing borrowers with a notice of default.

Plaintiffs in both suits alleged that this scheme (between the mortgagee and the PMI insurer) violated RESPA's anti-kickback and anti-fee splitting provisions between the mortgagee and the PMI insurer.

A California jury returned a verdict of $169 million against three former IndyMac Bancorp Inc. executives.

The FRB issued an interim final rule (the "Interim Final Rule") that allows bank holding companies ("BHCs") organized as S Corps and BHCs organized in mutual form to exclude subordinated debt issued to the Department of the Treasury ("Treasury") under the Small Business Lending Fund from treatment as debt for purposes of the debt-to-equity standard under the FRB’s Small Bank Holding Company Policy Statement (the "Policy Statement").

State legislatures in Georgia and Rhode Island recently amended their lending and licensing laws. The following are the noteworthy updates...

On April 26, the U.S. Department of Housing and Urban Development issued Mortgagee Letter 2024-06, announcing changes to the Home Equity Conversion Mortgages for purchases, a mortgage program designed for older homeowners ...

The Supreme Court resolves a split among the circuits as to whether 11 U.S.C. § 523(a)(2)(A) requires a false representation to a creditor or is applicable to other forms of fraud that do not require a false representation.

You will feel right at home with the CFPB's newly augmented web-based public-facing complaints database.

On August 15, the Illinois Department of Financial and Professional Regulation proposed regulations to implement recent amendments to the Residential Mortgage License Act of 1987 (RMLA)...

Jefferson Circuit Judge Jim Shake vacated jury verdicts against several banks in a major lender liability/mortgage fraud case in Louisville.