News & Analysis as of

Mortgage Lending Legal and Regulatory Highlights

In its spring edition of Supervisory Highlights, the CFPB cautions financial institutions of the increased risk of a fair lending violation for failing to maintain adequate policies and procedures to document exceptions to...more

DOJ, CFPB Fair Lending Enforcement Actions Target Credit Card Repayment Programs, Marketing Of Add-On Products

On June 19, the CFPB and the DOJ announced parallel enforcement actions against a federal savings bank that allegedly violated ECOA in the offering of credit card debt-repayment programs and allegedly engaged in deceptive...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

BNA's Banking Report: Enforcement 2013: Enforcement Actions Continue Three-Year Decline; DOJ Emerges as Major Player

Overall Trends & Outlook - From an enforcement standpoint, 2013 was another historic year in a number of important ways beyond the sheer number of cases, which were again significant. Federal banking agencies1 issued...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

Recent Fourth Circuit Case Addresses Unlimited Spousal Guarantees Under The Equal Credit Opportunity Act

Bankers know to exercise caution when requiring a spouse to co-sign or guarantee a loan to the other spouse’s business. The Equal Credit Opportunity Act (“ECOA”) generally prohibits lenders from requiring a spouse’s signature...more

DOJ Alleges Community Bank’s Unsecured Loan Pricing Violated ECOA

Last month, the DOJ announced a settlement with a three-branch, $78 million Texas bank to resolve allegations that the bank engaged in a pattern or practice of discrimination on the basis of national origin in the pricing of...more

CFPB and DOJ Take Enforcement Action Against Bank Alleging Violations of ECOA

The CFPB and DOJ announced that the filing of a joint complaint in the United States District Court for the Western District of Pennsylvania against a bank as successor in interest to a mortgage lender for violations of the...more

CFPB Takes Enforcement Action For Alleged Violations of ECOA

Resulting from an examination and subsequent joint investigation with the Department of Justice, the CFPB took enforcement action against a bank and bank holding company alleging violations of the Equal Credit Opportunity Act...more

Community Banking Excellence - Fourth Quarter 2013

In This Issue: - Interview with a Community Banking Professional - Holiday Wishes - Accidents Don't Cut It - Ensuring You Don't "Unintentionally" Violate the Automatic Stay - Dodd-Frank Essentials: Executive...more

Social Media: Consumer Compliance Risk Management Guidance

On December 11, 2013, the Federal Financial Institutions Examination Council (FFIEC) released final guidance (“Guidance”) on the applicability of consumer protection and compliance laws, regulations, and policies to...more

DOJ Announces Settlement Of Auto Lending Discrimination Suit

On September 6, the DOJ announced the resolution of a long-running lawsuit against an auto dealer and a bank that financed many of the dealer’s loans, in which the government alleged that the dealer and the bank violated ECOA...more

CFPB Issues Report On Examination Findings, Other Supervisory Activities

This afternoon, the CFPB released its summer 2013 Supervisory Highlights report, which covers supervisory activity from November 2012-June 2013. This is the second such report the CFPB has released; the first report came out...more

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