News Topic: Enforcement

UBS agreed to pay $230 million to resolve a New York state probe into the Swiss bank's marketing and sales of residential mortgage-backed securities before the financial crisis, boosting the state's recoveries in the investigation to almost $4 ... Read full article

Canada's financial consumer watchdog will strengthen its supervisory and enforcement teams, modernize its supervision approach to monitor banks more proactively, and enhance consumer information after reviewing bank sales practices. ... Read full article

The bank is the latest to report required pay discrepancies in their British units; the DOJ and SEC are looking into sales practices at the bank’s wealth management unit. ... Read full article

Under Richard Cordray, the consumer bureau had questioned whether affiliations between small-dollar lenders and sovereign tribes are exempt from state laws, but observers say the agency’s acting chief has signaled a more welcoming approach. ... Read full article

Sen. Elizabeth Warren, D-Mass., raised ethics concerns about Mick Mulvaney's dual role leading both the Consumer Financial Protection Bureau and the Office of Management and Budget. ... Read full article

Wells Fargo gets tipped off by OCC on investigation; HSBC is wading back into U.S. mortgage waters; a bank uses artificial intelligence to combat money laundering; and more. ... Read full article

Sen. Elizabeth Warren, D-Mass., introduced a bill to create a permanent law enforcement unit to investigate criminal activity at large banks, just as the Senate was close to passing a regulatory relief package. ... Read full article

The eventual pick will likely encounter heavy scrutiny from senators and, if confirmed, would take the helm of an agency still defined by turmoil nearly seven years after its creation. ... Read full article

The eventual pick will likely encounter heavy scrutiny from senators and, if confirmed, would take the helm of an agency still defined by turmoil nearly seven years after its creation. ... Read full article

The major prepaid card issuer agreed to the penalty to settle allegations that it had charged higher fees than what was disclosed to customers. ... Read full article

The Dodd-Frank Act consolidated massive authority under the Consumer Financial Protection Bureau, but acting Director Mick Mulvaney wants the bureau to take a back seat to states and other federal regulators. ... Read full article

The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing. ... Read full article

The bank overcharged some customers and some received inappropriate investment advice; 2.4 million more people were affected by the breach. ... Read full article

Wells Fargo's legal and regulatory struggles expanded to previously untarnished businesses Thursday as the company revealed new allegations of improper sales practices. The Federal Reserve vowed to keep unprecedented sanctions in place for a ... Read full article

The Consumer Financial Protection Bureau issued a request for information Thursday on the bureau’s public reporting of consumer complaints, which has long vexed the financial services industry. ... Read full article

From investor angst to regulatory scrutiny, here's a look at three obstacles that must be addressed before Ocwen Financial can acquire PHH Mortgage. ... Read full article

Democrats used a hearing with Fed Chair Jerome Powell to lay the groundwork for an intraparty debate over the merits of the Senate’s regulatory relief bill. ... Read full article

“Why we think we know better or how to protect consumers in your state surprises me,” acting CFPB Director Mick Mulvaney told a group of state attorneys general. “I don’t think we’ll being do much of that anymore.” ... Read full article