CFPB Issues Rule on Screening and Training of Mortgage Loan Originators

Written By ESR News Blog Editor Thomas Ahearn On November 15, 2019, the Consumer Financial Protection Bureau (CFPB) – the agency enforcing federal consumer financial laws – issued an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority that will be effective on November 24, 2019. The …

Continue reading "CFPB Issues Rule on Screening and Training of Mortgage Loan Originators"

FINRA Fines Citigroup Global Markets $1.25 Million for Failing to Conduct Adequate Background Checks

Written By ESR News Blog Editor Thomas Ahearn On July 29, 2019, the Financial Industry Regulatory Authority (FINRA) – which regulates brokerage firms doing business with the public in the U.S. – announced it had fined Citigroup Global Markets Inc. (CGMI) $1.25 million for failing to conduct timely or adequate background checks on more than 10,000 …

Continue reading "FINRA Fines Citigroup Global Markets $1.25 Million for Failing to Conduct Adequate Background Checks"