Subject to Inquiry

Subject to Inquiry

THE LATEST ON GOVERNMENT INQUIRIES AND ENFORCEMENT ACTIONS

Government Investigations and White Collar Litigation Group

Tag Archives: fine

Enforcement and Prosecution Policy and Trends, Financial Institution Regulation

National Mortgage Servicer Pays CFPB and FTC $63 Million to Settle Claims Over Alleged Servicing Violations

 On April 21, 2015, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) announced a joint enforcement action and joint order with a national mortgage servicer. The CFPB and FTC alleged that the servicer failed to honor loan modifications transferred from other servicers and insisted that borrowers pay their original, higher monthly… Continue Reading
Anti-Bribery and Corruption, Compliance, Enforcement and Prosecution Policy and Trends, Financial Institution Regulation

UK Financial Services Authority fines Willis Limited, insurance brokers, for failures in its anticorruption compliance programme – some sobering lessons for all companies

So, another large insurance broker has been publicly criticised and fined. According to the FSA, this was avoidable as Willis knew what they had to do in terms of compliance and they knew the risks to their business in relation to bribery and corruption, but it appears that their compliance was inadequate in several different respects… Continue Reading

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