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September 30, 2019

FDIC Settles With Oregon Bank Over Alleged RESPA and TCPA Violations

On September 30, 2019, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with an Oregon-based bank over alleged violations of the Real Estate Settlement Procedures Act (RESPA) and Telephone Consumer Protection Act (TCPA).

According to the FDIC, the bank agreed to pay and accept fees for the referral of home mortgage loan business in violation of RESPA.  The bank also placed telemarketing calls to consumers on the national Do Not Call registry and used an automated dialing system to send pre-recorded or text messages to consumers’ cellular telephones.

The bank did not admit or deny any violations of law, but agreed to pay a civil money penalty of $275,000.

The post FDIC Settles With Oregon Bank Over Alleged RESPA and TCPA Violations appeared first on Consumer Finance Insights (CFI).