FDIC Plans to Sue Silicon Valley Bank and Holding Company Directors and Managers https://t.co/Q1rhWlMREi #Money #Litigation #Laws @allenmatkins https://t.co/veQEg7dIMq
"NAR hits Phoenix Realtors with cease-and-desist" https://t.co/pK8Y8EYyyZ
After my tweet about @PhoenixREALTORS getting its charter revoked, someone sent me the letter from Leslie Muchow, General Counsel of @nardotrealtor, to the NAR Board of Directors (which is larger than Congress, BTW). 🧵 -- Dear Directors, I'm writing to follow up on my recent…
The Consumer Financial Protection Bureau (CFPB) has accused Rocket Homes, a subsidiary of Rocket Companies, along with several real estate brokerages, of engaging in an illegal kickback scheme intended to direct mortgage applications to Rocket Mortgage. This allegation was made public on December 24, 2024, as part of a broader legal action that also includes a lawsuit against an Arizona real estate agent. Concurrently, the National Association of Realtors (NAR) is reportedly moving to revoke the charter of the Phoenix Realtors due to its MLS Choice program, which allows agents to access the Multiple Listing Service without being NAR members. In response to the CFPB's claims, Rocket has labeled the allegations as false and politically motivated. Additional developments include Bank of America settling with a U.S. regulator over compliance issues, and the FDIC planning to sue directors and managers of Silicon Valley Bank.