The Office of Thrift Supervision (OTS) has taken enforcement actions against four OTS-regulated mortgage loan servicers for critical weaknesses in processing home foreclosures, the OTS announced today.
The Office of the Comptroller of the Currency today announced formal enforcement actions against eight national bank mortgage servicers and two third-party servicer providers for unsafe and unsound practices related to residential mortgage loan servicing and foreclosure processing.
The National Credit Union Administration today placed Mission San Francisco Federal Credit Union of San Francisco, California, into liquidation. Immediately thereafter, Self-Help Federal Credit Union of Durham, North Carolina, purchased and assumed Mission San Francisco's assets, liabilities and members.
Nevada Commerce Bank, Las Vegas, was closed today by the Nevada Financial Institutions Division, which appointed the Federal Deposit Insurance Corp. as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with City National Bank, Los Angeles, California, to assume all of the...
Western Springs National Bank and Trust, Western Springs, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corp. receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Heartland Bank and Trust...
The National Credit Union Administration today issued a Letter to Credit Unions providing guidance about planning for a potential federal government shutdown. The correspondence from NCUA Board Chairman Debbie Matz urges credit unions to maintain a state of readiness and to work prudently and flexibly to address the...
The Financial Crimes Enforcement Network has announced an assessment of civil money penalties totaling $40,000 against brothers Omar Abukar Sufi and Mohamed Abukar Sufi, for non-compliance with Bank Secrecy Act money transmitter registration requirements.
The FDIC, in conjunction with the other federal banking agencies and the State Liaison Committee of the Federal Financial Institutions Examination Council, has issued a statement regarding a revision of the Bank Secrecy Act regulations that took effect March 1.
Desiree Brown, the former treasurer of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), has pleaded guilty to conspiring to commit bank, wire and securities fraud for her role in a more than $1.9 billion fraud scheme that contributed to the failures of Colonial Bank and TBW.
The Financial Crimes Enforcement Network has announced an assessment of a $25,000 civil money penalty against Victor Kaganov of Tigard, Ore., for violating Bank Secrecy Act requirements for money transmitters.
The Board of Directors of the Federal Deposit Insurance Corp. have approved a Notice of Proposed Rulemaking (NPR) to further clarify application of the orderly liquidation authority contained in Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, "Orderly Liquidation Authority" (OLA).