How widespread is consumer protection regulatory risk?
:How widespread is consumer protection regulatory risk? FDIC report reveals institutions do not comply with the most basic federal laws* 83% of the institutions examined were cited for “significant” compliance violations 43% of those institutions were “repeat” offenders 85% of those repeat offenders were highly rated by the FDIC for their in-place compliance processes. Subprime related cases filed exceeds the total handled by the RTC over the multi year S&L period 43% are borrower class actions related to consumer protection laws Each of the top subprime lenders for 2006 is named in atleast one borrower class action FDIC Office of Inspector General Report, http://www.fdccig.gov/reports06/06-024.pdf Nielson, Jeff, “Subprime mortgages and Related Litigation-2007 Looking Back at What’s ahead” (February 2008), Navigant Consulting. Identifying violations is critical to diligently representing troubled borrowers. :Identifying violations is critical to diligently representing troubled borrowe
