Consumer Financial Services Law Blog
Dykema Gossett PLLC
Dykema Gossett PLLC

Consumer Financial Services Law Blog

Consumer Financial Services Law Blog

News and analysis regarding Consumer Financial Services litigation and regulation, and activities of the Consumer Financial Protection Bureau


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Showing 4 posts in Department of Justice (DOJ).

Stormy Weather: DOJ Signals Shift in Corporate Cooperation Policy

On September 9, 2015, the U.S. Department of Justice (DOJ) announced that it is refocusing its efforts on individual accountability in civil and criminal investigations of corporate misconduct. The policy change has ramifications for companies’ officers and employees as well as counsel involved in internal or government investigations. The policy applies broadly to financial services, healthcare, manufacturing and other industries alike and will be enforced by all divisions of the DOJ, including civil, criminal, anti-trust, tax and environmental. Read More ›

Quicken Aims to Take Control of DOJ Lawsuit with Stay or Transfer to Detroit

The ongoing saga between Detroit-based mortgage lender Quicken Loans, Inc. (“Quicken”) and the U.S. Department of Justice (“DOJ”) continues, as on April 29, 2015, Quicken filed a motion to stay or transfer the DOJ’s pending lawsuit in the U.S. District Court for the District of Columbia. The motion alleges that the DOJ’s complaint filed on April 23, 2015, is duplicative of the lawsuit filed by Quicken on April 17, 2015, in the U.S. District Court for the Eastern District of Michigan, and that the DOJ is attempting to engage in forum shopping. On May 4, 2015, the D.C. Circuit filed an order to show cause for the DOJ to explain why the suit should not be stayed or transferred to the Eastern District of Michigan on or before May 14, 2015.   Read More ›

DOJ Strikes Back, Accuses Quicken of Breaking HUD Rules to Approve Ineligible FHA Loans

Just days after Quicken Loans, Inc. filed suit against the Department of Housing and Urban Development (“HUD”), HUD’s Office of Inspector General (“HUD OIG”) and the Department of Justice (“DOJ”) in Detroit claiming it was wrongly targeted for minor FHA violations, the DOJ responded by filing its own suit in the U.S. District Court for the District of Columbia. While Quicken’s April 17, 2015 complaint claims the DOJ attempted to strong-arm Quicken into settling potential False Claims Act violations for millions over minor FHA non-compliance issues, the DOJ’s April 23, 2015 complaint alleges that Quicken routinely broke HUD rules to approve ineligible loans on a grand scale, knowing that those loans would be insured by the FHA and therefore cause no loss to Quicken.   Read More ›

Its Own Medicine: Quicken Loans Alleges Wrongdoing in DOJ and HUD OIG Investigation of FHA Loans

On April 17, 2015, Detroit-based mortgage provider Quicken Loans, Inc. filed suit in the United States District Court of the Eastern District of Michigan against the United States, the Department of Housing and Urban Development (“HUD”), HUD’s Office of Inspector General (“HUD OIG”) and the Department of Justice (“DOJ”). Quicken’s lawsuit represents a unique offensive move, challenging the fundamental fairness of federal investigative techniques which Quicken argues amount to abuse of governmental authority.  Read More ›