The Consumer Financial Protection Bureau and Department of Justice sued a Texas land developer and a nonbank mortgage firm for allegedly targeting Hispanic consumers with false claims about land lots and churning borrowers through foreclosure cycles.

Debo Adegbile, the lawyer retained by Navy Federal, is a former commissioner on the United States Commission on Civil Rights.

Harold Pettigrew, president and CEO of Opportunity Finance Network, told Inside Nonconforming Markets that changes to the application process will help ensure CDFIs continue to stay mission driven as more entities begin applying for certification.

The CFPB is in the process of revising its mortgage servicing standards under Regulation X, and expects to float a proposed rule in March.

The Financial Stability Oversight Council pointed to systemic issues if nonbank servicers fail.

The lender argued the RESPA damages should be limited to three times the amount each borrower was overcharged for title and settlement services.

The proposal provides banks an incentive to exit senior tranches of asset-backed securities in exchange for more junior and riskier tranches, according to the Securities Industry and Financial Markets Association.

Jonathan McKernan, a director at the FDIC, suggested slowing implementation of controversial provisions in a proposal on capital requirements for large banks.

Even after controlling for underwriting factors, disparities remained.

Leaders of the FHLBanks and FHFA appear to be at odds on the banks' role in times of distress.