General World News

FDIC settles with Arkansas bank over alleged violations, including for reverse mortgages

The Federal Deposit Insurance Corp. (FDIC) this month announced a settlement with Arkansas-based Bank of England over alleged violations of the Federal Trade Commission Act, the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA) and the Home Mortgage Disclosure Act (HMDA).

The bank has been issued an order to pay a civil penalty of $1.5 million, and the FDIC has also issued similar enforcement actions to nine former employees of the bank.

Veterans and their families who were deceived into details ⇒

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