Barbara S. Mishkin

Barbara S. Mishkin

Ballard Spahr LLP

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SCOTUS Grimm decision could impact CFPB position on ECOA protection for gender identity and sexual orientation

On October 28, 2016, the U.S. Supreme Court granted the petition for a writ of certiorari in Grimm v. Gloucester County School Board, a decision of the U.S. Court of Appeals for the Fourth Circuit that marked the first time...more

11/8/2016 - Appeals Banking Sector CFPB Civil Rights Act Consumer Lenders Discrimination ECOA Fair Lending Gender Identity LGBT LGBTQ Public School Boards Regulation B School Restrooms SCOTUS Sex Discrimination Sexual Orientation Sexual Orientation Discrimination Title IX Title VII Transgender

CFPB and DOJ settle fair lending claims involving allegations of redlining, discretionary underwriting and pricing, and overt...

The CFPB and DOJ recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the Fair Housing Act and the Equal Credit Opportunity Act....more

7/11/2016 - CFPB Consent Order Discrimination DOJ ECOA Fair Housing Act (FHA) Fair Lending Mortgage Lenders Mortgages Race Discrimination Redlining

CFPB issues Summer 2016 Supervisory Highlights

In its Summer 2016 Supervisory Highlights, which covers supervision work generally completed between January and April 2016, the CFPB highlights violations found by its examiners involving automobile origination, debt...more

7/6/2016 - Automotive Loans Banking Sector CFPB Debt Collection ECOA EFTs Fair Lending FCRA Financial Institutions HMDA Mortgage Loan Originators Mortgages Regulation B Regulation V Regulation X Regulation Z RESPA

CFPB issues 2015 fair lending report

The CFPB has issued a report covering its fair lending activities during 2015.  The report states that in 2015, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $108...more

5/3/2016 - Banking Sector CFPB Discrimination DOJ ECOA Fair Lending Financial Institutions HMDA HUD Memorandum of Understanding Mortgage Lenders Mortgages Reporting Requirements

Industry trade groups’ renewed challenge to HUD disparate impact rule could yield helpful precedent for ECOA cases

The D.C. district court recently granted two industry trade associations whose members sell homeowners insurance leave to file an amended complaint in their lawsuit challenging the Fair Housing Act (FHA) disparate impact rule...more

4/29/2016 - Affordable Housing Discrimination Disparate Impact Disparate Treatment ECOA Fair Housing Act (FHA) HUD SCOTUS Texas Dept of Housing v Inclusive Communities

CFPB hires Assistant Director for Office of Small Business Lending Markets; announces other senior leadership additions

Earlier this week, the CFPB announced the addition of several new members to its senior leadership team. The announcement included the news that the CFPB has filled the position of Assistant Director for the Office of...more

4/14/2016 - Administrative Appointments Banking Sector CFPB Data Collection Dodd-Frank ECOA Financial Institutions Lending Minority-Owned Businesses Small Business Women-Owned Businesses

Director Cordray defends CFPB positions in appearance before Senate Banking Committee; comments on small business lending and...

Much of Director Cordray’s testimony in his appearance before the Senate Banking Committee yesterday consisted of his predictable defense of various CFPB positions. While the hearing was much less contentious than last...more

4/8/2016 - Automotive Loans Banking Sector CFPB Disparate Impact Dodd-Frank ECOA Enforcement Actions Finance Lease Contract Lending No-Action Letters Richard Cordray Senate Banking Committee Small Business

Director Cordray appears before House Financial Services Committee

Director Cordray was the sole witness at the hearing held yesterday by the House Financial Services Committee, which was entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” In November 2015, the...more

3/18/2016 - Automotive Loans CFPB Class Action Arbitration Waivers Discriminatory Lending Practices Disparate Impact ECOA Payment Systems Prepaid Payment Products Richard Cordray Rulemaking Process TILA-RESPA Integrated Disclosure Rule (TRID)

FTC sends 2015 ECOA report to CFPB

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

2/11/2016 - CFPB ECOA Fair Lending FTC Lead Generators Regulation B

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 FTC Act 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 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

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