SAN FRANCISCO (AP) — A man who President Donald Trump has promoted as an authority on voter fraud was registered to vote in multiple states during the 2016 presidential election, the Associated Press has learned. Gregg Phillips, whose unsubstantiated claim that the election was marred by 3 million illegal votes was tweeted by the president, …
Month: January 2017
Another Replacement: Trump Replaces ICE Chief Daniel Ragsdale, Appoints Thomas Homan
Release Date: January 30, 2017 For Immediate Release Office of the Press Secretary Contact: 202-282-8010 WASHINGTON – Today, the president appointed Mr. Thomas D. Homan acting director of U.S. Immigration and Customs Enforcement (ICE). Since 2013, Mr. Homan has served as the executive associate director of ICE Enforcement and Removal Operations (ERO). In this capacity, …
Federal Reserve issued a cease-and-desist order to BB&T Corp. over alleged deficiencies in its anti-money-laundering controls
Such orders don’t state that the bank has laundered money, but rather that their internal systems for detecting criminal activity and reporting it to the government are deemed unsound by regulators. The policing of such violations has become more severe since the financial crisis. Brian Davis, a BB&T spokesman, said the firm has a “long …
Two lawmakers join battle between the CFPB and PHH
While the landmark case between PHH and the Consumer Financial Protection Bureau awaits a decision on whether the full Court of Appeals will rehear the case, more politicians are publicly voicing their support for the bureau. A new update from the CFPB Monitor stated that Sen. Sherrod Brown, D-Ohio, and Rep. Maxine Waters, D-Calif., who are, …
Government’s Fannie Mae will back PE giant Blackstone’s rental homes debt
Mortgage giant Fannie Mae is getting into the single-family rental business in a big way. The government-backed agency said it is going into business with private equity giant and major housing player Blackstone by backing $1 billion in debt. Blackstone’s Invitation Homes filed for an initial public offering this week, and the Fannie Mae relationship …
A Citigroup Lawyer Helped Trump Pick Bank Regulators, Then Returned To Work At The Bank
NEW YORK ― Sometimes the revolving door spins fast. Before President Donald Trump was inaugurated, Julie Lindsay, a top lawyer at Citigroup, was working for the president-elect to fill key posts at agencies that are supposed to oversee banks — including the Consumer Financial Protection Bureau, the agency that’s the brainchild of bank foe Sen. …
Mnuchin Lied About His Bank’s History of Robo-Signing Foreclosure Documents
TREASURY SECRETARY NOMINEE Steven Mnuchin lied in his written responses to the Senate Finance Committee, claiming that “OneWest Bank did not ‘robo-sign’ documents,” when ample evidence proves that they did. Mnuchin ran OneWest Bank from 2009 to 2015 in a manner so ruthless to mortgage holders that he has been dubbed the “Foreclosure King” by …
At Wells Fargo, Bank Branches Were Tipped Off to Inspections
Wells Fargo will eliminate its policy of notifying branches a day in advance before they are visited by internal inspectors, a bank spokeswoman said on Tuesday. The decision comes after the Wall Street Journal reported on the advance notice, describing how it gave employees time to cover up problematic sales practices by shredding documents and …
Sen. Hatch blocked OneWest foreclosure victims from testifying at Mnuchin’s Senate hearing
Housingwire: After lots of handwringing beforehand by people worried about his housing resume, Carson’s Senate confirmation hearing was mostly tame, but Mnuchin, a former executive at Goldman Sachs and chairman of OneWest Bank, formerly IndyMac, was not so lucky. Mnuchin was put through a blistering round of questions from Democrats, including a scolding speech from Sen. Elizabeth Warren, …
Nonbank’s share of Federal Housing Administration-backed mortgages crossed $1 trillion for the first time in November 2016, according to an article in The Wall Street Journal by Annamaria Andriotis. From the article: Ginnie Mae head Ted Tozer, who is leaving his position Friday, has said nonbank lenders may lack the financial wherewithal to withstand future stress in …