Ginnie Mae updates cybersecurity incident disclosure requirements
The new requirement mandates that all approved issuers notify Ginnie Mae of any significant cybersecurity incident within 48 hours of detection.
The new requirement mandates that all approved issuers notify Ginnie Mae of any significant cybersecurity incident within 48 hours of detection.
According to the settlement, the plaintiff claimed the DOE survey did not comply with various statutory and regulatory requirements for the emergency collection of information.
The article posited that closing costs significantly impact a borrower’s financial commitment and identified a “noticeable increase” in closing costs.
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The Tennessee bank must also engage an independent firm for completion of a comprehensive Banking-as-a-Service Risk Assessment Report.
The guidance addresses assumption fees, specifically permitting a loan holder to charge an additional assumption-related fee based on the location of the relevant property when the assumption of a VA-guaranteed loan closes.
Under the terms of the settlement, the entity and its subsidiaries can no longer lend to Minnesota residents nor advertise or market those loans.
Jonathan Mayer will head the DOJ’s first Chief Science and Technology Advisory and Chief Artificial Intelligence Officer roles.
Topics include financial system vulnerabilities, nonbank financial intermediation, digitalization of finance, climate change effects, and cross-border payment efficiency.
The executive order was preceded by a fact sheet which included provisions to protect data on genomic and biometric information, personal health, geolocation, and finances, among others.
This is the first time the CFPB has used its authority under the CFPA to designate a company for supervision based on a determination that the company’s conduct poses “risk to consumers” after a contested proceeding.
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Among other things, the new rule expands the pool of potential members for the appeals committee within the CFPB and introduces a new option for resolving appeals.
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The court found that the statute does not require identical violations from the same subsection of RESPA to state a “pattern or practice” claim.
The court ordered the defendants to pay approximately $16 million in restitution and $3 million in civil penalties.
The Federal Reserve issued an evaluation report concluding that the bank failed due to the alleged fraudulent activity by its CEO.
FINRA claimed that the Florida-based company did not adequately equip its analysts to review and address trading alerts related to suspicious activities by customers
The study evaluated different households’ use of buy now pay later products and revealed distinct patterns between the financially fragile and the financially stable.
New York State AG Letitia James announced the judgment against three merchant cash advance companies for usury and fraud based on allegations the lenders used short-term loans to charge illegally high-interest and undisclosed fees.