Legislation to impose taxes on mezzanine debt and preferred equity investments, payable by building owners, is still a possibility in New York state. Trouble for the multifamily sector?
The megabank has agreed to pay $11.5 million to resolve a class action law-suit accusing it of violating state laws by failing to pay interest on funds held in mortgage escrow accounts.
The bureau intends to fully exercise its supervisory and enforcement authority now that many financial institutions have developed more robust remote capabilities and demonstrated improved operations.