All signs point to
more lending abuse, particularly as buyers turn to Internet searches for the best loan deals.
President Donald Trump rejected the notion that Wells Fargo would skate on penalties associated with claims of
mortgage lending abuse.
Wells Fargo shares rise after the bank agrees to pay $ 1 billion to settle allegations from multiple regulators it engaged
in lending abuses.
While a large majority of respondents would like increased regulation, 62.7 % of them had never heard of the Consumer Financial Protection Bureau, even though this agency is spearheading the latest efforts to protect consumers
from lending abuses.
A provision in the Senate's regulatory relief bill that would give manufactured housing retailers more leeway to make financing recommendations has consumer advocates concerned about
potential lending abuses, while the industry contends it simply levels the playing field with real estate agents and homebuilders.
The LFTA would curb TPLF and
lawsuit lending abuses by simply requiring that parties make these deals transparent in any federal class action lawsuit or multi-district litigation proceeding.
Similarly, important rulemaking by the Consumer Financial Protection Bureau to protect against future
mortgage lending abuses, is slated to come to a head in early 2013.
The US currency comptroller proposed Wells Fargo pay a penalty to resolve probes into auto insurance and mortgage
lending abuses.
For the latest fine, Wells Fargo would pay for auto insurance and mortgage
lending abuses.
After Reuters reported in December that the CFPB might be slowing its investigation into Wells Fargo's mortgage
lending abuse, President Donald Trump hit back on Twitter, calling for fines and penalties to be «pursued and, if anything, substantially increased.»