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September 01, 2008
Indiana Attorney General Charges Countrywide
Indiana became the latest state to sue Countrywide for unfair and misleading loan practices.
August 11, 2008
Cuomo, Citigroup Settle Auction Rate Securities Case
Auction rate securities are Wall Street’s latest troubled products. Citigroup settles a complaint about its marketing practices.
June 09, 2008
State Files Predatory Lending Lawsuit
The Massachusetts Attorney General has sued a mortgage company for engaging in unfair and deceptive conduct on a broad scale.
June 02, 2008
Mutual-to-Stock Conversion Challenged
The American Bankers Association and four state banking trade groups filed a brief on behalf of a mutual savings bank that the trade groups say is under pressure to convert to stock status and go public.
March 10, 2008
Cuomo, OFHEO Reach Settlement
New York is just one state, but N.Y. Attorney General Andrew Cuomo’s agreement with Fannie Mae, Freddie Mac, and OFHEO will transform appraisal practices across the country.
November 05, 2007
Court Upholds State Gift Card Regulation
A federal appeals court has upheld Connecticut’s ban on dormancy fees on gift cards — despite assertions that federal law preempts the state’s rules.
August 20, 2007
State Acts on Deceptive Card Offer
New York State has reached an agreement with a South Dakota bank that will rein in the bank’s credit card offering practices.
August 13, 2007
HUD Wins RESPA Case
Not all the circuit courts agree, but the U.S. Court of Appeals for the Second Circuit thinks HUD’s interpretation of RESPA’s anti-kickback provision is correct.
June 25, 2007
OTS Challenges Mortgage Practices
In a recent settlement agreement, the OTS penalized excessive broker fees and loans to borrowers who were not creditworthy.
June 11, 2007
High Court Rules of FCRA Issues
Businesses generally were happy with two high court rulings.
April 23, 2007
OCC Wins Big at High Court
The Supreme Court says the OCC, not the states, regulates national banks’ subsidiaries.
February 12, 2007
Court Rejects Class Action Rescissions
Fortunately for lenders, a federal court has ruled that class action Truth in Lending lawsuits cannot result in rescission of the loan.
January 22, 2007
Justice Charges Marital-Status Discrimination
The Justice Department announced a settlement resolving allegations that an Alabama bank engaged in a pattern of lending discrimination against individuals based on their marital status.
January 01, 2007
Local Predatory Lending Law Fails
Municipalities have a poor track record when it comes to regulating predatory lending. Another such effort has been struck down in court.
December 04, 2006
Lively Debate as Supreme Court Weighs Preemption
The stage is now set for the U.S. Supreme Court to resolve the preemption dispute.
$1.5 Billion Bank-Fee Judgment Overturned
A $1.5 billion judgment against Bank of America for its practice of collecting overdraft and other fees from Social Security direct deposits has been overturned by a California State appeals court.
Cleveland Predatory Lending Ordinance Struck Down
Ohio’s adoption of state-wide predatory lending laws precluded Cleveland from adopting tougher rules.
November 13, 2006
Preemption Dispute Before High Court
The briefs are delivered as the Supreme Court prepares to hear oral arguments about the OCC’s preemption powers.
October 23, 2006
Bank Settles Redlining Charges
The Justice Department charges an Indiana bank avoided minority areas. The bank denies wrongdoing, but agrees to change in branching and marketing practices.
October 09, 2006
Supreme Court Tackles Banking Issues
The U.S. Supreme Court will consider several cases of interest to banks during the current term.
October 02, 2006
Bank of America Sanctioned for Anti-Money Laundering Failures
The Manhattan district attorney, who believes the federal government doesn’t
do enough to stop money laundering, has sanctioned Bank of America.
July 10, 2006
Settlement in Securities Analyst Case
State authorities have settled their conflict-of-interest complaint against a big bank’s securities affiliate.
June 26, 2006
Supreme Court Tackles Preemption
June 26, 2006 — The Supreme Court surprised many by taking up a case challenging the OCC’s preemption authority.
May 01, 2006
Money Laundering Woes Continue
Those who had hoped big headlines reporting banks’ alleged anti-money laundering deficiencies were a thing of the past were sadly disabused by two recent enforcement actions.
April 03, 2006
Spitzer Battles the OCC — Again
Get ready for round two as New York Attorney General Eliot Spitzer appeals two judicial decisions that favored the OCC over Spitzer as a regulator for national banks.
