Take first steps into investigation into mortgage fraud. The Department of Justice (DOJ) has launched an investigation into allegations of mortgage fraud by Federal Reserve Governor Lisa Cook.…
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Treasury Secretary says President Considering Housing Emergency Declaration
The housing prices, as well as the mortgage rates, have contributed to high costs. Treasury Secretary said this week that President Trump is exploring how best to address…
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SBA Orders Lenders to End Debanking Practices
The administration sent letters to ensure institutions cease politicized denials of service. The Small Business Administration (SBA) sent letters to over 5,000 lenders last week directing them to…
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President Trump Fires Federal Reserve Governor Cook over Alleged Mortgage Fraud
The fed official vows to fight the action, claiming the president does not have the authority to remove her. President Donald Trump announced that he had relieved Federal…
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FTC Moves to Permanently Ban Company for Threatening Consumers Over Fake Debts
Global Circulation Inc. and its owner face legal action over alleged impersonation, unlawful threats, and violations of consumer protection laws The Federal Trade Commission (FTC) and the state…
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FTC Announces Settlement with Cash Advance Company
The lender falsely promised instant cash advances while charging higher than disclosed fees. The Federal Trade Commission (FTC) announced that an online cash advance company, Cleo AI, has…
Read MoreNew Jersey Bank Agrees to Settlement with DOJ and HUD Over Redlining Allegations
The institution also agreed to five-year compliance training for the Fair Housing Act. New Jersey’s OceanFirst Bank filed a proposed settlement agreeing to pay $15.1 million to settle…
Read MoreVA Calls on Mortgage Services to Extend Veteran Foreclosure Moratorium
Issues guidance to extend VA-guaranteed loans to December 31. The Department of Veterans Affairs (VA) issued a guidance to mortgage servicers advising them to extend the foreclosure moratorium…
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Secretary Yellen Optimistic Heading into World Bank Meetings
She says, “America’s economic strength will continue to underpin global growth.“ Secretary of the Treasury Janet Yellen began the International Monetary Fund and World Bank meetings with financial…
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Treasury Secretary Speaks at Annual Freedman’s Bank Forum
Attendees seek solutions to eliminate discrimination in banking, housing, and lending. The Department of the Treasury hosted the 2023 Freedman’s Bank Forum last week. The gathering included state…
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