Items Tagged with 'Bankruptcy'

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U.S. Bank fined $15 million for bankruptcy filing violations

OCC announces fine for violations between 2009 and 2014
The Office of the Comptroller of the Currency announced Tuesday that it is ordering U.S. Bank National Association to pay a civil penalty of $15 million for what it calls “bankruptcy filing violations” that occurred between 2009 and 2014. Here are the details.
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Reality star Joe Giudice heads to federal prison

Faces deportation to Italy
It's tough being in the spotlight, especially if you're headed to prison. Joe Giudice arrived at Fort Dix Federal Correctional Institution in New Jersey to begin his 41-month sentence for bankruptcy fraud. However, the convicted criminal's troubles are just beginning.
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Bob Hosch, former CEO of Butler & Hosch, resigns from Florida Bar Association

Hosch: Resigning from the Florida Bar is not an admission of guilt
Robert Hosch, the former managing partner and CEO of mortgage banking industry law firm Butler & Hosch, which abruptly closed in 2015 amid allegations of mismanagement, is resigning from the Florida Bar Association. In a statement provided to HousingWire, Hosch said that resigning from the Florida Bar is "not an admission of guilt," adding that this move will allow him to "focus on new opportunities."
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Wells Fargo fined $81.6 million for violating federal bankruptcy rules

DOJ: Wells Fargo failed to notify bankrupt homeowners of mortgage payment increases
Wells Fargo will return $81.6 million to homeowners after reaching a settlement with the Department of Justice’s U.S. Trustee Program over the bank’s “repeated failures” to provide bankrupt homeowners with legally required notices of mortgage payment increases.
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Kentucky town becomes first since Detroit to declare bankruptcy

Files for Chapter 9 protection, citing land dispute
A small Kentucky town is about to join a rather unfortunate club by becoming one of the few municipalities to file for bankruptcy protection. According to a Bloomberg report, Hillview, Kentucky filed for bankruptcy this week, becoming the first municipality to file for bankruptcy since Detroit famously did in 2013.
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Former Butler & Hosch employees say firm CEO’s statements are “disingenuous”

Attorney in class action suit provides rebuttal to Bob Hosch’s account
The former Butler & Hosch employees at the center of a class-action suit against their former firm are responding to the claims of the firm's CEO, Bob Hosch, saying that Hosch’s statements are “disingenuous.” Seth Lerman, the attorney representing the employess, also details the numerous attempts to serve Hosch with the lawsuit, in direct contradiction with Hosch’s attorney’s statement that Hosch had not yet been served.
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EXCLUSIVE: Bob Hosch responds to allegations about Butler & Hosch

Firm’s CEO says truth will be revealed
In the two months since mortgage banking industry law firm Butler & Hosch suddenly shut down, serious allegations have begun to surface about what led to the abrupt collapse of the firm. Now, for the first time, the firm's managing partner and CEO, Bob Hosch, is speaking out about the allegations levied against him and the firm that carried his name for more than 30 years.
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Lawsuit: Ocwen sent false reports to consumer credit agencies

Homeowner wants court to revive suit alleging servicer violated consumer law
A homeowner in California is asking the Ninth Circuit to revive his putative class action lawsuit against Ocwen Loan Servicing for submitting false information to credit agencies. Judges seemed skeptical, suggesting Ocwen technically stayed in the confines of the law. You decide.
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