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RESPA Section 8 and bank regulators

Answered by: 

Question: 
We are not examined by the CFPB. Should we be worried about Section 8 violations?
Answer: 

Most of the big eye-popping cases involve entities regulated by the CFPB. The RESPA Interagency Examination Procedures, which are used by all of the federal financial institution regulators, include Section 8 in the scope of the procedures. Any financial institution can have Section 8 issues. One of the most recent cases covered in the program is an FDIC case.

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Learn more about Jack Holzknecht’s RESPA – Section 8 Unearned Fees and Kickbacks Violations webinar.

First published on 12/27/2020

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