A lawsuit involving Wells Fargo, Wachovia and emergency lending facilities by the Fed during the financial crisis has the potential to expand the application of liability under the False Claims Act. An appeals court recently ruled against Wells in the case.
The powerful consumer regulator is working on a plan to identify ways to improve the consent order process. The idea: release so-called "reformed" players from the regulatory burden of CO prison.
Aside from g-fee pricing, most of the ways the GSEs could engage in volume discounting would take place in the secondary market. That means they’re not really violating regulations.
PennyMac wants out of its servicing platform marriage with vendor Black Knight. As might be expected, lawsuits and nasty allegations are the order of the day. The two have been working together for 10-plus years.
As the GSE recap-and-release avalanche continues, there’s increasing chatter in the market that Treasury is open to a legal settlement with Fannie/Freddie shareholders. A crazy idea? Maybe not.
The Supreme Court has agreed to review a case challenging the constitutionality of the CFPB. Regardless of its decision, it likely will not be the end of the controversy surrounding the bureau’s leadership structure.
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