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HUD Announces Two Maternity Leave Fair Housing Agreements

On July 1, HUD announced a conciliation agreement with a California mortgage lender, pursuant to which the lender will pay $48,000 to resolve allegations that it violated the Fair Housing Act when it denied or delayed...more

CFPB Issues Guidance On Ensuring Equal Treatment For Married Same-Sex Couples

On July 8, the CFPB released guidance designed to ensure equal treatment for legally married same-sex couples in response to the Supreme Court’s decision in United States v. Windsor, 133 S. Ct. 2675 (2013). ...more

California Federal Judge Allows Second Los Angeles Fair Housing Case To Proceed

On June 9, the U.S. District Court for the Central District of California denied a mortgage lender’s motion to dismiss the City of Los Angeles’s Fair Housing Act suit, the second such denial by the same judge in recent weeks....more

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

CFPB Report Recaps Fair Lending Activities

On April 30, the CFPB published its second annual report to Congress on its fair lending activities. According to the report, in 2013 federal regulators referred 24 ECOA-related matters to the DOJ—6 by the CFPB—as opposed to...more

DOJ And CFPB Team Up To Take On Auto And Mortgage Lenders

The CFPB and the Department of Justice (DOJ) are joining forces to pursue damages and penalties against consumer lenders for violation of the Equal Credit Opportunity Act (ECOA) in pricing consumer loans....more

Mississippi Regulatory Compliance Group Quarterly Report Vol. 25 No.1

In This Report: - Resurgence of Redlining Scrutiny - Diversity, a New Requirement - Revisiting Red Flags - Know Before Your Owe - Questions About ATR and QM - MRCG Meeting – February 20,...more

Editorial: Who’s The Fairest Lender Of Them All? As Government Scrutiny Intensifies, Don’t Get Snowed Under By Fair-Lending Laws

In the past few years, the federal government has devoted substantial resources to scrutinizing and litigating what it perceives to be unfair, deceptive or abusive mortgage-lending practices. Looking forward, all indications...more

U.S. House of Representatives Oversight and Investigations Subcommittee Examines Disparate Impact Theory in Fair Housing and...

On November 19, 2013, the Oversight and Investigations Subcommittee of the U.S. House of Representatives Committee on Financial Services conducted a hearing titled "A General Overview of Disparate Impact Theory." Under the...more

Mt. Holly Settled: Disparate Impact Questions Linger

The Consumer Financial Protection Bureau (CFPB) and other agencies that apply disparate impact tests under the Equal Credit Opportunity Act (ECOA) appear to have dodged another bullet. The background, recent events, and...more

Special Alert: Agencies Issue Joint Statement On Fair Lending Compliance And The CFPB’s ATR/QM Rule

On October 22, the CFPB, the OCC, the FDIC, the Federal Reserve Board, and the NCUA (collectively, the Agencies) issued a joint statement (Interagency Statement) in response to inquiries from creditors concerning their...more

THE RICH GET RICHER THROUGH THE RECOVERY: THE TOP 10 PERCENT OF EARNERS TOOK MORE THAN HALF OF THE COUNTRY’S TOTAL INCOME IN 2012

The top 10 percent of earners took more than half of the country’s total income in 2012, the highest level recorded since the government began collecting the relevant data a century ago, according to an updated study by the...more

HUD Sets Stage For FCA Claims Against Fund Recipients

The Fair Housing Act requires agencies to administer their programs and activities relating to housing and urban development “affirmatively to further” fair housing. Recipients of U.S. Department of Housing and Urban...more

Breaking News! Insurers sue HUD regarding disparate impact

We just heard that a lawsuit was filed in Federal District Court in DC challenging HUD’s final rule stating that the disparate impact theory will apply in assessing whether a company has complied with the Fair Housing Act....more

Housing Counselor Survey Alleges Banks Fail To Comply With National Mortgage Settlement.

On April 3, a California borrower advocacy organization published the results of its survey of housing counselors, which the organization claims reveals that problems persist with the implementation of the national servicing...more

New Study Claims Mortgage Lenders Discriminate Against Women

On March 12, the Chicago-based Woodstock Institute released research claiming that mortgage lenders discriminate against female applicants. The research is presented in a “fact sheet” and previews a longer report the group...more

HUD Final Rule on Disparate Impact under the Fair Housing Act

On February 8, 2013, the Department of Housing and Urban Development (“HUD” or the “Department”) finalized its controversial discriminatory effects rule (the “final rule” or “discriminatory effects rule”), thus formalizing...more

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

Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit

The U.S. Department of Justice (DOJ) has reached a settlement with Community Bank of St. Charles, Michigan, in a federal lending discrimination lawsuit filed by DOJ against the bank....more

Fair Housing Group Accuses Insurance Company Of Redlining

On December 21, the National Fair Housing Alliance (NFHA) announced that it filed with HUD a housing discrimination complaint against a major insurance company regarding the offering of hazard insurance in a certain...more

Can ‘Disparate Impact’ Become the Basis for a Fair-Lending Claim?

As part of its aggressive program to protect consumers in financial matters, the Consumer Protection Financial Bureau (CFPB) has announced that it is prepared to adopt a controversial “disparate impact” theory of liability...more

CFPB: Mortgage Originator Violations

Yesterday, I outlined for you the features of the CFPB's requisites of a Compliance Management System (CMS). My observations were based on the CFPB's newsletter, entitled Supervisory Highlights: Fall 2012, an issuance to the...more

Supreme Court to Decide Fair Housing Act “Disparate Impact” Case with Broader Fair Lending Implications

On Monday, the U.S. Supreme Court agreed to decide whether “disparate impact” discrimination claims are cognizable under the federal Fair Housing Act (FHA) and, if so, how such claims should be analyzed. The Court’s decision,...more

Kubicki v Mortgage Electronic Registration Systems et al.

County Sheriff May Appoint Special Deputies by Written Agreement to Execute Foreclosures

In this case, the Michigan Court of Appeals found nothing improper in a signed agreement by a county sheriff and a process serving company wherein the president of the process serving company was appointed a special deputy...more

Will Everyone Know That I Filed For Bankruptcy?

A big concern for many people is if their bankruptcy filing will be made public. In this article I discuss who will learn of your bankruptcy filing and who has access to the information....more

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