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Jan 24, 2017

Federal Reserve Board Joint Press Release: Federal Banking Fine ServiceLink Holdings $65 Million - January 24, 2017

Joint Press Release

Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
For release at 4:00 p.m. EST
January 24, 2017
The federal banking agencies today fined ServiceLink Holdings, LLC (ServiceLink Holdings), $65 million for improper actions by its predecessor company, Lender Processing Services, Inc. (LPS), which resulted in significant deficiencies in the foreclosure-related services that LPS provided to mortgage servicers. The penalty assessed by the three federal banking agencies--the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency--against ServiceLink Holdings satisfied the document review provision of the previous enforcement action. The agencies continue to monitor the company's compliance with other provisions of that order.
The fine will be remitted to the U.S. Treasury.
Attachment (PDF)
Board Votes
Media Contacts:
FDIC Julianne Fisher Breitbeil 202-898-6895
Federal Reserve Board Eric Kollig 202-452-2955
OCC Stephanie Collins 202-649-6870
 
Last update: January 24, 2017