Fed Sanctions Peoples Bank for Misleading Borrowers on Mortgage Fees
HousingWire, Nov. 28, 2017–Ben Lane
The Fed announced a consent order against Peoples Bank, claiming that the bank’s mortgage origination business engaged in “deceptive residential mortgage origination practices” by falsely telling borrowers that they could lower their interest rate by paying an upfront fee, ordering the Kansas-based bank to pay $2.8 million.
