Wells Fargo will pay CFPB and OCC a billion dollars in fines for overcharging car insurance and mortgage loan consumers. Here’s what lawmakers from both sides are saying.
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How Much Have Banks Been Fined Since the Crisis?
According to a tally released Tuesday by New York-based investment banking firm Keefe, Bruyette & Woods, banks have been fined $243 billion since the financial crisis in 2008. As reported by Marketwatch, repayment of the fines involves a mixture of ...
Read More »Citi Subsidiaries Draw Fines From CFPB
The CFPB dinged two Citi subsidiaries for using excessive paperwork and deceptive practices to hinder borrowers trying to save their homes.
Read More »Fannie Mae Increases Fines for Late or Inaccurate Reporting
Fannie Mae announced it has revised its maximum fee assessment for servicers that submit late or inaccurate loan reporting. Fannie Mae fines servicers in order to recoup the losses and damages that result from servicing breaches, "including reimbursement for Fannie Mae's internal administrative costs in tracking, reporting, and correcting these errors."
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