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Nutter Bank Report, May 2017

Supreme Court Rules That Cities Can Sue Lenders Under the Fair Housing Act - The U.S. Supreme Court has issued a decision that reaffirms the standing of municipalities to sue lenders, including banks, for certain...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Investors’ decreasing appetite for actively managed mutual funds appears to have helped drive the major shake-up at AllianceBernstein Holding, which said so long to CEO Peter Kraus and removed nine board members in favor of 6...more

CFPB Spring 2017 Supervisory Highlights focuses on mortgage origination/servicing, student loan servicing deficiencies, service...

by Ballard Spahr LLP on

The CFPB’s newly-released Spring 2017 edition of Supervisory Highlights covers supervisory activities generally completed between September and December 2016. The report indicates that supervisory resolutions resulted in...more

HUD Advocates Broad “Disparate Impact” Liability for P&C Insurers

by Pullman & Comley, LLC on

In February 2013, the U.S. Department of Housing and Urban Development adopted a “Discriminatory Effects Rule,” which established liability under the Fair Housing Act for conduct that is otherwise lawful, but which has a...more

HUD Issues Statement on Applicability of Disparate Impact Liability to Insurance Industry

by Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) has announced it will continue to address disparate impact liability for discriminatory insurance practices on a case-by-case basis. HUD addressed concerns from the...more

Arizona Court Consolidates ADA Lawsuits

by Ballard Spahr LLP on

The number of claims under the design and construction requirements of the Americans with Disabilities Act (ADA) continues to increase, but a recent development in Arizona may slow this trend. The Arizona Attorney General has...more

CFPB Supervisory Highlights – January 2016 to April 2016

by Dorsey & Whitney LLP on

On June 30, 2016, the Consumer Financial Protection Bureau (“CFPB”) released the twelfth edition of its Supervisory Highlights report (“Report”), which focused on supervision work completed between January and April 2016. The...more

CFPB and DOJ Propose $10.6 Million Settlement in Discriminatory Lending Action

by Goodwin on

On June 29, the Consumer Financial Protection Bureau (CPPB) and Department of Justice (DOJ) announced a joint enforcement action against a regional bank for alleged discriminatory mortgage lending in violation of the Equal...more

Department of Housing and Urban Development Announces Settlement with National Bank over Alleged Discriminatory Lending Practices

by Goodwin on

On June 8, 2016, the Department of Housing and Urban Development (HUD) announced it entered into a settlement agreement with a national bank over allegations the bank engaged in discriminatory lending practices in violation...more

CFPB Examinations and Investigations: Defense Strategies and Best Practices

by WilmerHale on

The pursuit of examinations and enforcement actions by the Consumer Financial Protection Bureau (CFPB) has created new challenges for entities that provide consumer financial products and services. Given the CFPB’s broad...more

Divided Supreme Court Results in Non-Uniform Application of Reg B

by Bryan Cave on

In what goes for kicking the can down the road at the Supreme Court, the Court has evenly split on an appeal arising from the Eight Circuit Court of Appeals decision in Hawkins v. Community Bank of Raymore, 761 F3d 937 (CA8...more

Fair Lending Year in Review – 2015

by K&L Gates LLP on

2015 was an action-packed year for fair lending, including a long-anticipated Supreme Court decision on disparate-impact claims under the Fair Housing Act (“FHA”), record-breaking redlining settlements, a new round of...more

California Appellate Court Holds Unruh Act Does Not Apply to Legislative Action

by Best Best & Krieger LLP on

Decision Comes in Short-Term Rental Ordinance Litigation - California’s Unruh Civil Rights Act, which prohibits a business establishment from discriminating in housing or other accommodations, does not apply to an...more

CFPB Issues Final Rule to Improve Information About Access to Credit in the Mortgage Market

by WilmerHale on

On October 15, 2015, the Consumer Financial Protection Bureau (CFPB) issued a final rule to implement amendments to the Home Mortgage Disclosure Act (HMDA) made by the Dodd-Frank Wall Street Reform and Consumer Protection...more

Are Disparate Impact Claims Legally Cognizable Under ECOA?

by Dorsey & Whitney LLP on

In Texas Dep’t of Housing and Community Affairs v. The Inclusive Communities Project, 135 S. Ct. 2507 (2015), the Supreme Court held that disparate impact claims are legally cognizable under the Fair Housing Act (“FHA”). As a...more

Beware Of The One-Two Punch Expected In The Fair Housing Law Arena

by Fisher Phillips on

The combination of a recent unfavorable Supreme Court decision along with dramatically increased federal funding for fair housing enforcement could spell bad news. Businesses that operate in the housing industry and those...more

Not-So-Sudden Impact: Insurers Face A New Breed Of Claim Under the Fair Housing Act (Part 3 of 3)

by Pullman & Comley, LLC on

This is the final article of a three-part series about two recent decisions by federal courts in Connecticut and California: Viens v. America Empire Surplus Lines Ins. Co., No. 3:14cv952 (D. Conn. June 23, 2015), and Jones v....more

Not-So-Sudden Impact: Insurers Face A New Breed Of Claim Under the Fair Housing Act (Part 2 of 3)

by Pullman & Comley, LLC on

This is the second article of a three-part series about two recent decisions by federal courts in Connecticut and California: Viens v. America Empire Surplus Lines Ins. Co., No. 3:14cv952 (D. Conn. June 23, 2015), and Jones...more

Not-So-Sudden Impact: Insurers Face A New Breed Of Claim Under the Fair Housing Act (Part 1 of 3)

by Pullman & Comley, LLC on

Late in June, in Texas Dept. of Housing v. Inclusive Communities, No. 13–1371 (U.S. June 25, 2015), the U.S. Supreme Court ended years of debate by embracing a “disparate impact” claim against a housing authority under the...more

CFPB Continues Crackdown on Fair Lending: Marketing Materials Targeted

by Carlton Fields on

In a recent guidance bulletin, the Consumer Financial Protection Bureau reminded mortgage lenders to heed their Equal Credit Opportunity Act (ECOA) obligations when considering applicants receiving public assistance income....more

CFPB Issues Compliance Bulletin on Unlawful Discrimination Based on Receipt of Mortgage Assistance

by Ballard Spahr LLP on

In a new compliance bulletin (Bulletin 2015-02), the CFPB “reminds” creditors of their obligation not to discriminate against applicants because their income includes vouchers from the Section 8 Housing Choice Voucher (HCV)...more

CFPB issues compliance bulletin on unlawful discrimination based on receipt of mortgage assistance

by Ballard Spahr LLP on

In a new compliance bulletin (Bulletin 2015-02), the CFPB “reminds” creditors of their obligation not to discriminate against applicants because their income includes vouchers from the Section 8 Housing Choice Voucher (HCV)...more

DOJ Settles Fair Lending Cases against Mortgage Lenders

by Ballard Spahr LLP on

The U.S. Department of Justice (DOJ) recently settled fair lending lawsuits against two mortgage lenders. Both actions involved DOJ attempts to use disparate impact evidence to establish that a lender engaged in a “pattern or...more

Mount Holly settlement update

by Ballard Spahr LLP on

Last night, the Mount Holly town council met to discuss the tentative settlement in Township of Mount Holly v. Mt. Holly Gardens Citizens in Action, Inc. We understand that due to issues concerning the language of the...more

Disparate Impact Discrimination Remains in the Spotlight: Insurance Industry Trade Groups Challenge HUD’s Disparate Impact Rule

by Dechert LLP on

Two insurance industry trade groups, the American Insurance Association and the National Association of Mutual Insurance Companies, recently filed suit against the U.S. Department of Housing and Urban Development (HUD)...more

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