Ocwen Financial (OCN) Enters Consent Order with WA-DFI
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Ocwen Financial (NYSE: OCN) disclosed the following on Thursday:
Item 8.01 Other Events.
On August 25, 2016, Ocwen Loan Servicing, LLC, Ocwen Business Solutions, Inc. and Ocwen Financial Solutions Private Limited, each a subsidiary of Ocwen Financial Corporation (collectively, Ocwen) entered into a Consent Order with the Washington State Department of Financial Institutions (WA-DFI) relating to the activities of these entities in Washington State under the Washington Consumer Loan Act. Ocwen and the WA-DFI entered into the Consent Order so that these matters may be economically and efficiently settled. Under the Consent Order, Ocwen neither admits nor denies any wrongdoing and agrees, among other things, to pay the WA-DFI $900,000 to conclude this matter. Ocwen continues to invest significantly in its risk and compliance infrastructure and remains committed to a culture of compliance with all regulatory requirements.
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