Upgrades on $6 Billion RMBS from BofA Settlement
Dozens of tranches from over $6 billion in Alt-A and option-ARM residential mortgage-backed securities have been upgraded thanks to Bank of America Corp.'s massive settlement.

Prison for Mortgage Brokers in Ponzi Scheme
A pair of mortgage brokers from Hawaii are headed to prison after being convicted of operating a $26 million Ponzi scheme.

PNC Agrees to Settle 2nd Mortgage Class Action
The PNC Financial Services Group Inc. has agreed to settle a class-action lawsuit alleging excessive fees and illegal kickbacks on second mortgages.

Wells Fargo Bank Eliminating Sales Goals
Wells Fargo & Co. is taking steps to address incentive compensation that led to the fraudulent opening of millions of accounts by employees who have since been terminated.

Regions Bank Settles False Claims Act Allegations
Regions Financial Corp.'s banking subsidiary has settled allegations that it approved government-insured mortgages that didn't meet underwriting guidelines.

Small Financial Institutions Outraged Over Wells
Just days after coming to figurative blows with each other, community banks and credit unions are now united in their outrage over Wells Fargo Bank, N.A.

Light Sentence for Defendant in FirstPlus Mob Trial
A former attorney who is a defendant in the trial of the mob's takeover of FirstPlus Financial Group Inc. has received an unusually light sentence for his role.

CFPB Reports Largest Penalty Ever
A settlement with the Consumer Financial Protection Bureau includes the largest penalty every imposed during its history. Over 5,000 employees were fired.

Battle Brewing Between Banks, Credit Unions
Community banks have taken their gripes about credit unions infringing on their territory to court, filing a lawsuit against a federal regulator.

Consumer Bankruptcies Jump to 4-Month High
More U.S. consumers resorted to bankruptcy last month, with new non-commercial filings climbing to the highest level in four months.