Compliance Newshub
Legal News

The CFPB issued a consent order against a mortgage broker who sent direct-mail advertisements sent primarily to United States military servicemembers and veterans which contained false, misleading, and inaccurate statements or that lacked required disclosures, in violation of the Consumer Financial Protection Act’s (CFPA) prohibition against deceptive acts and practices, the Mortgage Acts and Practices – Advertising Rule (MAP Rule), and Regulation Z.

The CFPB issued a consent order against a mortgage broker for providing direct-mail advertisements to veteran's that contained false, misleading, and inaccurate statements or that lacked required disclosures, in violation of the Consumer Financial Protection Act’s (CFPA) prohibition against deceptive acts and practices, the Mortgage Acts and Practices – Advertising Rule (MAP Rule), and Regulation Z.

The CFPB announces a settlement with remittance transfer providers for violating the Electronic Fund Transfer Act (EFTA) and the Remittance Transfer Rule, as well as the Consumer Financial Protection Act of 2010’s (CFPA) prohibition against deceptive acts or practices.

National Mortgage News

Michael P. Flavin, a Massachusetts real estate broker, has pled not guilty to nine charges that include money laundering and forgery in the amount of approximately $800,000.

Mortgage Fraud Blog--Rachel Dollar

A Minnesota couple, Christopher Lee Horn and Sondra Horn, pled guilty for accepting federal mortgage assistance in Ohio for a property being rented out while living in another state.

Forbes--Daniel Cassady

The U.S. Department of Justice has filed a civil forfeiture complaint 280 cryptocurrency accounts reportedly used to steal and launder over $250 million using virtual exchanges by hackers in North Korean.

The CFPB issued a consent order against PHLoans.com, Inc. for sending consumers numerous mailers for VA-guaranteed mortgages that contained false, misleading, and inaccurate statements or that lacked required disclosures, in violation of the Consumer Financial Protection Act’s (CFPA) prohibition against deceptive acts and practices, the Mortgage Acts and Practices – Advertising Rule (MAP Rule), and Regulation Z.

The CFPB released a series of public service announcements targeting consumers who paid fees to Siringoringo Law Firm, Stephen Lyster Siringoringo, Clausen & Cobb Management Company, Inc., and Joshua Cobb and were harmed by a violation for which civil penalties were imposed, and who aren’t otherwise expected to get full compensation for their compensable harm.

Office of Attorney General

Mary Martinez also known as Mary Flores, a north suburban financial adviser, has been indicted on federal fraud charges for allegedly exploiting clients who were seeking her help to purchase a new home after foreclosure.

Mortgage Professional America--Ryan Smith

A federal appeals court has overturned the convictions of Maher Obagi and Mohamed Salah sentenced to federal prison in 2018 for their alleged involvement in an $11.3 million mortgage scam.

Washington Business Journal--Andy Medici 

Capital One Financial has been ordered to pay an $80 million fine and enter into a consent order with the OCC due to issues related to a 2019 data breach that exposed over 106 million records of customers and credit card applicants.

The United States Department of Justice

A North Carolina man has plead guilty to one count of criminal interference with the Fair Housing Act, for using threats of force against an African American family because of the family members’ race and because they were renting a dwelling.