CFPB Seeks To Intervene In $2B Ocwen FCA Row

By Adam Lidgett (June 16, 2016, 3:30 PM EDT) -- The Consumer Financial Protection Bureau has asked a Texas federal court to let it intervene in a whistleblower suit alleging Ocwen Loan Servicing LLC gave false information to a federal loan program that allegedly netted executives $2 billion in incentive payments, saying it needs to protect confidential, privileged records pertaining to its supervision of Ocwen.

The CFPB filed the motion Monday in a False Claims Act suit against Ocwen Loan Servicing, a subsidiary of Ocwen Financial Corp., over its participation in a U.S. Department of Treasury Home Affordable Modification Program in 2009, telling U.S. District Judge Amos Mazzant that its effectiveness...

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