Barbara S. Mishkin

Barbara S. Mishkin

Ballard Spahr LLP

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FTC warns use of big data may violate federal consumer protection laws

A new FTC report, “Big Data: A Tool for Inclusion or Exclusion? Understanding the Issues,” warns that certain uses of big data consisting of consumer information may implicate various federal consumer protection laws. In the...more

1/16/2016 - Big Data CFPB ECOA FCRA FTC FTCA Section 5 UDAAP

CFPB raising LGBT issues with supervised entities

We recently blogged about remarks made by Patrice Ficklin, Director of the CFPB’s Office of Fair Lending, at the American Bar Association’s Consumer Financial Services Institute. In her remarks, she stated that the CFPB is...more

11/25/2015 - Banking Sector CFPB ECOA Fair Lending LGBT Obergefell v. Hodges SCOTUS Sexual Orientation Discrimination

House passes bill to nullify CFPB indirect auto finance guidance

Wednesday, by a vote of 332-96, the House of Representatives passed H.R. 1737, the “Reforming CFPB Indirect Auto Financing Guidance Act,” which would nullify the CFPB’s indirect auto finance guidance issued in March 2013 and...more

11/20/2015 - Automotive Loans CFPB ECOA Enforcement Guidance Pending Legislation

CFPB seeking Assistant Director to advise on small business lending data collection rules

The CFPB’s Division of Research, Markets & Regulations recently posted a job opening for an individual to serve as the “Assistant Director for Small Business Lending Markets.” According to the job posting, the Assistant...more

11/11/2015 - CFPB Consumer Lenders Data Collection ECOA Small Business

CFPB and DOJ Announce Redlining Settlement

Consistent with recent indications from CFPB and Department of Justice officials that more redlining cases would soon be coming, the CFPB and DOJ have announced a proposed consent order with Hudson City Savings Bank to settle...more

10/9/2015 - Banking Sector Banks CFPB DOJ ECOA Fair Housing Act (FHA) Financial Institutions Mortgage Lenders Mortgages Race Discrimination Redlining Residential Real Estate Market

CFPB and DOJ announce redlining settlement

Consistent with recent indications from CFPB and Department of Justice officials that more redlining cases would soon be coming, the CFPB and DOJ have announced a proposed consent order with Hudson City Savings Bank to settle...more

9/28/2015 - Banking Sector Banks CFPB Community Reinvestment Act Compliance Consumer Financial Products Consumer Lenders CRA Discrimination DOJ ECOA Fair Housing Act (FHA) Fair Lending Financial Institutions Investigations Mortgage Brokers Mortgage Lenders Mortgage Servicers Mortgages OCC Race Discrimination Redlining Statistical Analysis

84 House members urge expedited CFPB action on small business lending data collection rules

84 House members recently wrote to the CFPB to urge it to expedite rulemaking to implement the small business lending data requirements of Dodd-Frank Section 1071. Section 1071 amended the ECOA to require financial...more

9/1/2015 - Borrowers CFPB Consumer Lenders Creditors Data Collection Dodd-Frank ECOA Fair Lending Financial Institutions Financial Services Committee Lenders Minority-Owned Businesses Public Entities Public-Private Entities Regulation B Rulemaking Process Small Business White Paper Women-Owned Businesses

Auto finance company agrees to change dealer compensation policy to settle CFPB and DOJ fair lending claims

Earlier this month, American Honda Finance Corporation (AHFC) entered into a settlement with the CFPB and the Department of Justice to resolve charges that it engaged in unlawful discrimination in violation of the Equal...more

7/28/2015 - Automotive Industry Automotive Loans CFPB Compensation Agreements Consumer Lenders DOJ ECOA Financial Institutions Honda

U.S. Senators urge expedited CFPB action on small business lending data collection rules

We recently blogged about an American Banker article written by officials of three community groups that urged President Obama to publicly denounce Director Cordray for failing to issue regulations implementing the small...more

7/14/2015 - Barack Obama CFPB Data Collection ECOA Lending Small Business

Community groups want CFPB action on small business lending data collection rules

A recent American Banker article written by officials of three community groups urges President Obama to publicly denounce Director Cordray for failing to issue regulations implementing the small business lending data...more

7/3/2015 - Banks Barack Obama Data Collection Dodd-Frank ECOA Richard Cordray Small Business

CFPB FY 2014 service contract inventory available

The CFPB has announced that its FY 2014 service contract inventory is available for public viewing. The inventory provides information on service contracts over $25,000 funded by the CFPB in FY 2014. In addition to the...more

6/16/2015 - CFPB ECOA Service Contracts

CFPB files amicus brief in U.S. Supreme Court ECOA case

The CFPB, together with the Solicitor General, has submitted an amicus brief in Hawkins v. Community Bank of Raymore, the case in which the question before the U.S. Supreme Court is whether the Equal Credit Opportunity Act...more

6/12/2015 - CFPB Commercial Loans ECOA Guarantors Hawkins v Community Bank of Raymore Real Estate Development SCOTUS

Justice Department’s ECOA report describes joint CFPB activity

The U.S. Department of Justice recently issued the Attorney General’s 2014 Annual Report to Congress Pursuant to the Equal Credit Opportunity Act Amendments of 1976. The report discusses the DOJ’s 2014 ECOA enforcement...more

4/25/2015 - Automotive Loans CFPB Discrimination DOJ ECOA Fair Housing Act (FHA) SCRA

FTC sends ECOA report to CFPB

The FTC recently sent a letter to the CFPB reporting on the FTC’s 2014 activities related to compliance with the Equal Credit Opportunity Act and Regulation B. Although the FTC has authority to enforce the ECOA and Reg B as...more

2/19/2015 - CFPB ECOA FTC Nonbank Firms Regulation B

CFPB to issue whitepaper on methodology for identifying auto finance discrimination and consider use of advisory opinions

While Director Cordray’s appearance at the House Financial Services Committee’s hearing on the CFPB’s fifth Semi-Annual Report yesterday was accompanied by the usual dose of political theater, his testimony did yield the...more

6/20/2014 - Automotive Industry Automotive Loans Banks CFPB Choke Point Department of Defense (DOD) Discrimination DOJ ECOA Fair Housing Act (FHA) Fannie Mae FDIC Financial Services Committee Freddie Mac Information Reports Lenders Military Lending Act Mortgages Qualified Mortgage Rule

Another Supreme Court disparate impact case?

The U.S. Supreme Court could have its third opportunity since 2012 to provide clarity with respect to disparate impact claims under the Fair Housing Act and (by analogy) the Equal Credit Opportunity Act. After losing on...more

6/11/2014 - Disparate Impact ECOA Fair Housing Act (FHA) HUD NAACP SCOTUS

No CFPB regulations in 2014 implementing expanded ECOA small business data collection requirements

Section 1071 of Dodd-Frank amended the Equal Credit Opportunity Act to require financial institutions to collect and maintain certain data in connection with credit applications made by women- or minority-owned businesses and...more

4/10/2014 - CFPB Data Collection ECOA Small Business

OIG finds CFPB’s supervision program needs improvement

Earlier this week, the results of an evaluation of the CFPB’s supervision program conducted by the Office of Inspector General (OIG) that the CFPB shares with the Fed were released in a report entitled “The CFPB Can Improve...more

4/4/2014 - CFPB ECOA OIG Supervision

Mount Holly settlement approved; dismissal of U.S. Supreme Court appeal to follow

As expected, the Mount Holly town council voted last night to approve the settlement in Township of Mount Holly v. Mt. Holly Gardens Citizens in Action, Inc. Coming just three weeks before the U.S. Supreme Court oral argument...more

11/14/2013 - ECOA Fair Housing Act (FHA) HUD Mount Holly v Mt. Holly Citizens in Action SCOTUS

ABA and MBA ask CFPB to reconsider coverage of business credit in ECOA appraisal rule

The American Bankers Association and the Mortgage Bankers Association have sent a letter to the CFPB asking it to reconsider the applicability of the final Equal Credit Opportunity Act (ECOA) appraisal rule to business...more

8/6/2013 - American Bankers Association Appraisal Business Tax Credits CFPB ECOA Mortgage Bankers Association

FTC confirms continued commitment to vigorous enforcement in letter to CFPB

In its annual letter to the CFPB on its 2012 administrative and enforcement activities related to Regulations B (ECOA), E (Electronic Fund Transfers), Z (TILA) and M (Consumer Leasing), the FTC stressed that it is “committed...more

5/16/2013 - CFPB Consumer Lenders ECOA Electronic Fund Transfer Act Enforcement FTC Truth in Lending Act (TILA)

CFPB issues more small entity compliance guides for mortgage-related rules

The CFPB has issued several more Small Entity Compliance Guides on its mortgage-related rules. In addition to its guide on the ability-to-repay and qualified mortgage rule, the CFPB has now issued Small Entity Compliance...more

5/7/2013 - Ability-to-Repay CFPB ECOA Higher-Priced Mortgage Loans HOEPA Mortgage Escrow Account Mortgages Qualified Mortgage Rule Small Entity Compliance Guide Truth in Lending Act (TILA)

CFPB issues third Semi-Annual Report

The CFPB has issued its third Semi-Annual Report to the President and Congress. The report notes that it “predominately” covers the CFPB’s activities from July 1 through December 31, 2012 but, in certain sections, covers the...more

4/4/2013 - CFPB ECOA Fair Lending Loans Proposed Legislation

CFPB’s ECOA disparate impact test finds support in HUD’s FHA “Discriminatory Effects” final rule

In April 2102, the CFPB issued a bulletin to confirm that it plans to apply a disparate impact test in exercising its supervisory and enforcement authority under the Equal Credit Opportunity Act (ECOA) and Regulation B. The...more

2/14/2013 - CFPB Discriminatory Effects Rule Disparate Impact ECOA Fair Housing Act (FHA) HUD

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