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Watchdog: Treasury Approved ‘Excessive’ Pay at Bailed-Out Companies

A new report from the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) suggests the Treasury Department has failed once again to curb what SIGTARP calls "excessive" executive pay at AIG, General Motors, and Ally Financial--three companies bailed out with taxpayer funds. After investigating pay in 2012, SIGTARP reported Treasury approved pay packages worth $5 million or more for 23 percent of the top employees at AIG, GM, and Ally.

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Orion Financial Group Celebrates 20 Years of Growth

Orion Financial Group, Inc., a Texas-based provider of mortgage assignment, lien release, and document retrieval services, is celebrating its 20th birthday--and 20th year of success--in 2013. According to a release, Orion has seen a 170 percent increase in transactions in the last five years alone. In addition, the company's client base has tripled since 2008.

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First Valuation Names New National Sales Executive

New

In Colorado, First Valuation named Ted Venhorst as national sales executive. Venhorst's real estate and financial services career has spanned nearly three decades, taking him through such nationally recognized companies as UPF Services, The CIT Group, NovaStar Mortgage, and IndyMac Bank.

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CFPB Leadership Uncertain as Court Invalidates Recess Appointments

A federal appeals court in Washington, D.C., ruled Friday that the controversial recess appointments made by President Obama in January 2012--which includes the appointment of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB)--are "invalid from their inception." Administration officials insisted the president was acting correctly under the Constitution; critics argued that the Senate was not actually in recess and that the president was skirting around the confirmation process.

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