The Consumer Financial Protection Bureau (“CFPB”) is issuing rules to prevent mortgage lenders from steering borrowers into risky, high-cost mortgage loans. The new rules will prohibit certain incentives that loan originators previously had which led them to sell costly and risky loans to borrowers prior to the financial crisis. Loan […]
CFPB Issues Rules on High Cost Mortgages
The Consumer Financial Protection Bureau (“CFPB”) issued final rules on January 10, 2013 to strengthen consumer protections for high-cost mortgages and to provide consumers with resources on home ownership counseling. The CFPB announced final rules to implement the Dodd-Frank Act’s amendments to the Home Ownership and Equity Protection Act (“HOEPA”). […]
WakeMed Medicare Fraud Settlement Rejected by Federal Judge in NC
A federal judge rejected a proposed settlement of charges against Raleigh-based WakeMed arising from false claims submitted to Medicare. A criminal charge for making false claims for Medicare payments was lodged against WakeMed by the U.S. Attorney for the Eastern District of North Carolina. The case arose after a government […]
Bank Settlement Ends Flawed Foreclosure Reviews
Last week, federal banking regulators announced an $8.5 billion settlement with banks and touted the deal as providing quick relief for aggrieved homeowners. Critics, however, charged that the deal was actually a means to quietly end a deeply flawed review of foreclosed loans. The settlement brought to an end an […]
CFPB Issues Ability-to-Repay Mortgage Rule
The Consumer Financial Protection Bureau (“CFPB”) has adopted a new rule aimed at protecting consumers from irresponsible mortgage lending by requiring lenders to ensure that prospective purchasers have the ability to repay their mortgage. Under the Ability-to-Repay rule announced by CFPB, new mortgages must satisfy basic requirements that protect consumers […]
Study Addresses Why Older People May Be More Susceptible to Fraud
The Federal Trade Commission (“FTC”) has long been aware that older people are often victims of fraudulent activity, perhaps due in part to their tendency to accentuate the positive. According to the FTC, up to 80 percent of scam victims are over the age of 65. A recent study featured […]
Workers’ Comp: Court of Appeals to Employers — Supply the Booze, You Well May Lose
In a recently issued case, Evans v. Hendrick Automotive Group, the Court of Appeals affirmed the Industrial Commission’s decision to award workers’ compensation benefits to a woman who was severely injured while returning to her hotel after a dinner party sponsored by her employer. The dinner party was part of […]
Workers’ Comp: Court of Appeals Delivers Just Result for Temporary Employees
It is common knowledge, especially in these dismal economic times, that businesses often hire temporary workers, or “temps,” to cut down on labor costs. By contracting with a temp agency to provide workers, a business can avoid the expenses of hiring a new employee – such as payroll taxes and […]
Bank Of America Will Pay $10 Billion in Mortgage Claims
Bank of America will pay more than $10 billion to settle claims over troubled mortgages. The settlement was announced on January 7, 2013. Pursuant to the deal, Bank of America will pay $3.6 billion to Fannie Mae and will buy back $6.75 billion in loans that Bank of America and […]
Hospital Settles Unnecessary Cardiac Procedures Suit
Last Friday, federal regulators finalized and announced the settlement of a whistleblower suit alleging that a group of doctors performed medically unnecessary cardiac procedures on patients. The settlement requires an Ohio hospital to pay $3.9 million and a physician group to pay $541,870. The settlement resolves a whistleblower lawsuit filed […]
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“Forest, once again, my family and I thank you for obtaining another settlement on behalf of my Father. It’s almost uncanny that these checks seem to come at very opportune times. This one comes as we are expecting our fourth grandchild. It will provide her some sound footing towards her future college education, plus help Mom and Dad with the medical expenses. Sometimes, I think my Dad is helping you guys with this. Maybe so. Anyway, thank you again for your hard work.”
– Mike
