Bank - Page 4

  • PNC Pays Mortgage Loan Officers $16M – Overtime Lawsuit

    … end of the Great Depression, the law still has teeth. Unfortunately, outside sales reps and certain professionals are exempt. Are mortgage loan officers exempt? Probably not. A series of recent cases suggests that private bankers and mortgage loan officers are not exempt. That means they qualify for overtime pay. Are you required to give out…

    Due Diligence- 28 readers -
  • USFS Settles Crisis Era False Claims Act Mortgage Fraud Case

    … for insurance benefits, USFS has and will comply with the requirements of the Secretary of Housing and Urban Development… HUD regulations, FHA handbooks…” An underwriter must also personally certify: “I, the undersigned, as authorized representative of USFS at this time of this closing of this mortgage loan, certify that I have personally reviewed…

    Due Diligence- 19 readers -
  • Wells Fargo, PNC Hit with Huge Fines for Cybersecurity Lapses

    … Wells Fargo, PNC Hit with Huge Fines for Cybersecurity Lapses December 23, 2016 by Brian Mahany The Financial Industry Regulatory Authority (FINRA) fined several financial services firms a total of $14.4 million for failure to properly safeguard customer records. Fourteen securities dealers received fines including the brokerage arms of two…

    Due Diligence- 23 readers -
  • Platinum Partners Hedge Fund Ponzi – Where Are the Banks?

    … of Platinum’s Investor Relations and Finance Departments; Daniel Small, a former Managing Director and co-Portfolio Manager of Platinum; and Jeffrey Shulse, the former Chief Executive Officer and Chief Financial Officer of Black Elk Energy Offshore Operations, LLC According to the U.S. Attorney’s Office, Nordlicht, Levy, Landesman, SanFilippo and Mann…

    Due Diligence- 9 readers -
  • Does Universal Health Services Kidnap Patients?

    … are thinking of hurting yourself. The recruiter was paid by the facility for each new patient that was admitted. Is Universal Health Services the New Wells Fargo? When the story broke that claimed Wells Fargo opened 2 million new accounts without their customers’ permission, Congress and the public were outraged. Instead of admitting guilt…

    Due Diligence- 12 readers -
  • Think Glink

    …Allied Home Mortgage, Whistleblowers and the Future of the Mortgage Industry by Emily Pfund | Link to original source (104K) Last week, a federal jury in Texas imposed a nearly $93 million penalty against Allied Home Mortgage Capital Corp. and Allied Home Mortgage Corp. (now known as AllQuest Home Mortgage Corp.) and CEO Jim Hodge for issuing…

    Due Diligence- 34 readers -
  • Wells Fargo Hits a New Low (Bank Whistleblower Post)

    … of the loans. December 2014 FINRA fines the bank’s securities arm… again. This time the fine was $4 million. February 2015 A bank affiliate pays $4 million to resolve alleged violations of New York’s credit card laws. March 2016 The SEC claims that Wells Fargo misled investors as lead underwriter in a failed $75 million bond offering. The agency…

    Due Diligence- 34 readers -
  • Ex-Wells Fargo Adviser Receives 2-Year Suspension

    … Ex-Wells Fargo Adviser Receives 2-Year Suspension Posted on Friday, December 9, 2016 at 10:28 AM From the Desk of Jim Eccleston at Eccleston Law LLC: FINRA has charged a former Wells Fargo adviser named Jack Donnarumma from White Plains, New York, with allegedly misrepresenting himself as a Wells Fargo personal banker and bank officer when…

    Eccleston Law Offices- 18 readers -
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