Archives For: Federal Reserve Board
CFPB Fines Franklin Loan for Ripping Off Customers
On November 14, National Mortage News published an article discussing the $730,000 fining of Franklin Loan Corporation by the Consumer Financial Protection Agency for allegedly incentivizing loan officers to guide customers into mortgages with higher interest rates.
17 Nov 2014
Federal Reserve Releases Guidance Holding Banks Responsible When Using Service Providers
On December 5, The Federal Reserve Board released guidance reminding financial institutions it supervises to exercise appropriate risk management and oversight when using service providers.
6 Dec 2013