The Office of the Comptroller of the Currency assessed a $15 million civil money penalty against the U.S. Bank National Association for violations of certain bankruptcy filing practices. The alleged violations relate to filings made by the bank in connection with certain foreclosures of loans in its residential mortgage servicing portfolio.
The Comptroller claimed that between 2009 and 2014, the bank erred in filings related to (i) proofs of claim, (ii) payment change notices and (iii) post-petition fees, among other things. The Comptroller also noted that the violations occurred at a time when the bank was under a mortgage servicing-related Consent Order, which was terminated in February 2016.
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