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Home » CFPB Settles Castle & Cooke LO Comp Allegations for $13 Million
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CFPB Settles Castle & Cooke LO Comp Allegations for $13 Million

November 18, 2013
In a sign of just how serious the CFPB is about steering and loan-compensation issues, the bureau last week pressed Castle & Cooke Mortgage LLC into a settlement involving $9 million in restitution and $4 million in civil penalties to resolve allegations the firm and two of its executives paid illegal bonuses for steering consumers into costlier mortgages. The CFPB alleged that Castle & Cooke, through actions taken by its president, Matthew Pineda, and senior vice-president of capital markets, Buck Hawkins, violated the...
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