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Discrimination › Mortgage Lenders

Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's... more +
Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's race, religion, gender, age, to name a few.  less -
K&L Gates LLP

Applying Loper Bright, the Seventh Circuit Holds that ECOA Protects Prospective Applicants

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The Seventh Circuit recently issued one of the first appellate decisions to apply the US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo, 144 S. Ct. 2244 (2024). In Loper Bright, the Supreme Court ended...more

Alston & Bird

Affirmative Action in Lending: The Implications of the Harvard Decision on Financial Institutions

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The U.S. Supreme Court ruling ending race-based admissions at colleges and universities could have a ripple effect on unrelated fields. Our Financial Services & Products Group explores how the Harvard decision could change...more

Cozen O'Connor

Arizona AG Office Secures Settlement for Alleged Discrimination Against LGBTQ+ Home Loan Applicants

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Arizona AG Office’s Civil Rights Division brokered a settlement between Discount Mortgage Advisors, LLC and two customers who allege that the company violated the Arizona Fair Housing Act by discriminating against them on the...more

Goodwin

HUD Resolves Allegations of Discrimination Against California Lenders

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On April 19, the U.S. Department of Housing and Urban Development (HUD) announced that it had entered an agreement with a group of California mortgage lenders to resolve allegations that they discriminated against a mortgage...more

BakerHostetler

CFPB Proposes Amendments to Align Regulation B with Revised Regulation C

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On March 24, 2017, the Consumer Financial Protection Bureau (CFPB) proposed amendments to Regulation B to “provide additional flexibility for mortgage lenders concerning the collection of consumer demographic information.” ...more

Ballard Spahr LLP

Community banks trade group asks Trump Administration to curb fair lending enforcement

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The Independent Community Bankers of America issued a statement calling on the Trump administration “to rein in the overzealous application of fair lending laws.” ICBA stated that community banks are threatened by a recent...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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On the heels of Deutsche Bank’s $7.2 billion deal, Credit Suisse has finalized the terms of its own MBS-related settlement. The Swiss bank will pay $5.3 billion to resolve claims that it misled investors about the standards...more

Ballard Spahr LLP

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

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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

Ballard Spahr LLP

CFPB issues 2015 fair lending report

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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

WilmerHale

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

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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

Goodwin

CFPB Issues New Mortgage Disclosure Rule

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On October 15, 2015, the Consumer Financial Protection Bureau (CFPB) issued a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). At nearly 800 pages, the new HMDA rule changes (i) the...more

Ballard Spahr LLP

CFPB and DOJ announce redlining settlement

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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

Baker Donelson

Eleventh Circuit Further Widens the Reach of the Fair Housing Act

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The city of Miami brought an action against multiple lenders claiming their practices were discriminatory and in violation of the FHA, resulting in a disproportionate and excessive number of defaults and subsequent...more

Baker Donelson

Supreme Court Broadens Scope for Housing Discrimination Claims

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Beneficial intent will not shield lenders and other financial services companies from discrimination claims under the Fair Housing Act (FHA), according to a recent decision by the United States Supreme Court. Specifically,...more

Partridge Snow & Hahn LLP

Lending Industry Take Note: Federal Fair Housing Act Provides For Disparate-Impact Liability

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The status quo stands, to a degree. By a 5-4 vote, the United States Supreme Court has concluded that the federal Fair Housing Act (“FHA”) authorizes lawsuits not just for intentional discrimination, but for conduct taken...more

Williams Mullen

Supreme Court Upholds Disparate Impact: What are the Practical Consequences for Mortgage Lenders?

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The Supreme Court has held that disparate impact claims are valid under the federal Fair Housing Act (the “FHA”). In essence, this means that liability under the FHA can be proven by showing discriminatory effects of...more

Carlton Fields

CFPB and DOJ File Action Against Provident Funding Alleging Discriminatory Lending Policies and Practices

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Last week, the Consumer Financial Protection Bureau (CFPB, or “Bureau”), together with the Department of Justice (DOJ), filed an enforcement action against Provident Funding Associates, L.P. (Provident), the second-largest...more

McGuireWoods LLP

CFPB, DOJ Join in Fair Lending Enforcement Action Against Provident

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On Thursday, the CFPB and the Department of Justice (DOJ) filed a joint complaint against the second-largest private mortgage company in the United States alleging it engaged in discriminatory lending practices from 2006 to...more

Ballard Spahr LLP

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

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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

Bilzin Sumberg

CFPB, DOJ Show Renewed Interest in Pursuing “Redlining” Cases

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Evidence is mounting that the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) are taking a renewed interest in investigating possible redlining—the practice of lenders charging certain groups...more

Manatt, Phelps & Phillips, LLP

New York Bank Sued for Fair Housing, Lending Violations

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Why it matters - New York banks are continuing to face lawsuits over alleged discriminatory lending practices. In September 2014, the state’s Attorney General, Eric T. Schneiderman, filed a “redlining” suit against...more

Foley & Lardner LLP

State AGs Take Sides as U.S. Supreme Court Hears Housing Discrimination Case

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On January 21, 2015, the U.S. Supreme Court will hear argument in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, on the question of whether disparate impact claims for discrimination are...more

Partridge Snow & Hahn LLP

U.S. Supreme Court Agrees to Resolve Whether the FHA Provides for Disparate Impact Liability.

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A major change to federal law governing mortgage lending may be on the horizon. On October 2, 2014, the United States Supreme Court agreed to decide whether the Fair Housing Act (“FHA”) not only imposes liability for...more

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