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Mortgages › FTC Act

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Goodwin

FDIC Announces $1.5 Million Settlement with Arkansas-Based Bank and Employees

Goodwin on

​​​​​​​​On May 17, 2024, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with an Arkansas bank and nine of its employees, resolving allegations that the bank and the employees violated Section 5 of the...more

Cozen O'Connor

FTC, California DFPI Team Up Against Mortgage Relief Scams

Cozen O'Connor on

The FTC and California’s Department of Financial Protection and Innovation (DFPI) obtained default judgments against six companies doing business as Home Matters USA, Academy Home Services, Atlantic Pacific Service Group,...more

Orrick, Herrington & Sutcliffe LLP

FTC, DFPI win MSJ against a fraudulent mortgage relief operation

Orrick, Herrington & Sutcliffe LLP on

On February 13, the FTC and California Department of Financial Protection (DFPI) announced that the U.S. District Court for the Central District of California granted their motion for summary judgment against several...more

Wiley Rein LLP

Wiley Consumer Protection Download (May 8, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Sheppard Mullin Richter & Hampton LLP

FDIC Settles with Bank for Repeat RESPA Violations, Doubling Previous Fine

Sheppard Mullin Richter & Hampton LLP on

The FDIC recently announced a consent order with an Oregon regional bank for violations of Section 8 of RESPA, the FTC Act, and the FRCA, resulting in a civil monetary penalty totaling $425,000. After conducting its...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 13, 2021)

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Thank you for your interest in the Wiley Consumer Protection Download! This will be our last publication of 2021, with our bi-weekly newsletter returning in January 2022. Welcome to Wiley’s update on recent developments...more

Manatt, Phelps & Phillips, LLP

Ninth Circuit Affirms FTC Act Violations Against Alleged Mortgage Relief Scammers

Manatt, Phelps & Phillips, LLP on

The Ninth Circuit refused to allow various defendants to escape liability for a variety of alleged mortgage relief scams, affirming judgments based on violations of the FTC Act and the federal Mortgage Assistance Relief...more

Goodwin

CFPB and OCC Settle with National Bank for $1 Billion Over Auto and Mortgage Lending Practices

Goodwin on

On April 20, 2018, the Consumer Financial Protection Bureau (CFPB)? and Office of the Comptroller of the Currency (OCC) each announced settlements totaling $1 billion with a national bank resulting from a coordinated action...more

Manatt, Phelps & Phillips, LLP

FTC Halts Mortgage Loan Modification Scam

Manatt, Phelps & Phillips, LLP on

The Federal Trade Commission (FTC) put a stop to a mortgage loan modification operation, filing suit in Nevada federal court alleging violations of the Mortgage Assistance Relief Services (MARS) Rule and the FTC Act....more

Ballard Spahr LLP

Federal Reserve Announces Consent Order Related to Bank’s Use of Discount Points

Ballard Spahr LLP on

On November 28, 2017, the Federal Reserve Board announced a Consent Order with Peoples Bank (Peoples) in Lawrence, Kansas. The Order charges Peoples with violating Section 5 of the Federal Trade Commission Act (FTCA) by...more

Ballard Spahr LLP

Federal Reserve Repeals Regulation AA, Proposes Repeal of Regulation C

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The Federal Reserve Board (Board) is repealing Regulation AA, which includes the Board's credit practices rule, effective March 21, 2016. The Board is also proposing to repeal its Regulation C, which historically implemented...more

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