A former Ocwen Financial executive is settling Securities and Exchange Commission charges that he engaged in insider trading related to his company's dealings with Altisource Portfolio Solutions following a CFPB enforcement action and its upcoming merger with PHH Corp.
The class-action lawsuit filed by investors alleged that bank executives deliberately failed to disclose the full nature of its cross-selling practices to shareholders.
Wall Street and its allies in the House are trying to kill the Consolidated Audit Trail, a supercomputer that will allow regulators to detect market abuses, punish wrongdoers and better understand why markets sometimes crash.
The SEC is investigating the bank for selling clients mutual funds that charge marketing fees when other, cheaper funds were available. SunTrust expects an enforcement action.
