On November 5, the DOJ announced a proposed settlement with a bank for allegedly violating bankruptcy rules by not providing homeowners with required notices that would have allowed them to challenge the accuracy of increased mortgage rates. According to the DOJ, the bank acknowledged that, from December 1, 2011 to March 31, 2015, it failed to (i) file payment change notices (PCNs) 21 days before adjusting a debtor’s monthly mortgage payment, as required by federal regulations; and (ii) perform timely escrow analyses. Under the settlement, the bank will be required to pay over $80 million in restitution to homeowners in bankruptcy that were affected by its actions and will be required to update its internal procedures to prevent further violations, including improving its employee training and its quality control processes to ensure that PCNs are filed within the appropriate timeframe. The settlement was filed in the U.S. Bankruptcy Court for the District of Maryland and is subject to court approval.