Articles by Ben Lane

CFPB sues Ohio law firm over "illegal" debt collection practices

Weltman, Weinberg & Reis vows to defend itself
The Consumer Financial Protection Bureau claims that an Ohio law firm is using illegal methods to collect debt and is suing the firm to put a halt to the alleged illegal activity. The firm, however, contends that the CFPB is trying to “strong-arm” it into signing a consent order and says it will fight the lawsuit.
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HousingWire's 2017 Women of Influence nominations are now open!

It's our honor to recognize the most influential women in housing
HousingWire is proud to announce that we are now accepting nominations for the 2017 Women of Influence, our opportunity to honor the housing industry’s most influential women leaders. Here is much more information on one of our favorite award programs.
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Airbnb updates security after hackers hijack accounts to rob hosts' homes

Scammers imitate highly rated users, book stay, then steal from host
There’s no doubt that Airbnb is causing a disruption in local housing markets, as the short-term rental website, and others like it, have been accused of making housing more expensive in certain communities and placing some units completely out of reach except for short-term renters. But Airbnb has a new problem on its hands.
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Settlement approved: Wells Fargo customers will get $50 million for overcharged mortgage fees

Class action settlement over Broker Price Opinions is finalized
Borrowers who had a mortgage serviced by Wells Fargo between May 6, 2005 and July 1, 2010 will soon receive their share of a $50 million settlement stemming from allegations that Wells Fargo overcharged borrowers for Broker Price Opinions during that period, as a class action settlement covering the overcharging is now finalized.
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Former Wells Fargo exec claims bank fired her for refusing to scam customers

Lawsuit claims that bank’s executives pushed for fake accounts
A former executive at Wells Fargo claims in a lawsuit that the bank fired her because she refused to participate in a scam like the bank’s well-publicized fake account scandal, which led to a $185 million fine after more than 5,000 of the bank’s former employees opened more than 2 million potentially unauthorized accounts to get sales bonuses.
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Trump reportedly close to choosing the new "most powerful man in banking"

Set to name Randal Quarles as Fed vice chairman of supervision
President Donald Trump is reportedly close to choosing a replacement for the “most powerful man in banking.” That characterization is in reference to Daniel Tarullo, who recently stepped down as a member of the Board of Governors of the Federal Reserve System. Here are the details on Trump's reported choice to serve as the Fed's new vice chairman of supervision.
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Monday Morning Cup of Coffee: Industry trade groups tell Senate how to fix financial regulations

MBA, CUNA weigh in on regulatory reforms
The main front for the Republican Party’s push for regulatory reform is in the House of Representatives, where an effort is underway to replace the Dodd-Frank Wall Street Reform Act with the Financial CHOICE Act. But the House isn’t the only place where regulatory reform is on the table. Here's a look at what some of the mortgage industry's biggest trade groups want the Senate to do about regulatory reform. All that, and more, in your Monday Morning Cup of Coffee.
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Lennar ordered to pay more than $100 million to iStar in 2005 land row

Homebuilder recently set aside $140 million for litigation expense
The U.S.Court of Appeals for the Fourth Circuit ordered Lennar to pay more than $100 million to iStar to settle a lawsuit that stretches back to 2005. According to details published Friday by iStar, a real estate investment trust, the Court of Appeals upheld a lower court’s decision in the lawsuit that stemmed from a soured land deal from more than a decade ago.
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