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Violation Tracker Individual Record

Company: Flagstar Bank
Current Parent CompanyFlagstar Bancorp
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $37,500,000
Year: 2014
Date: September 29, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: mortgage abuses
Violation Description: The Consumer Financial Protection Bureau took action against Michigan-based Flagstar Bank for violating the CFPB's mortgage servicing rules by blocking borrowers' attempts to save their homes using means described by the agency as illegal. The agency ordered Flagstar to pay $27.5 million to victims and a $10 million fine.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Michigan
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.