Equal Credit Opportunity Act Dept. of Justice

News & Analysis as of

High Court Inclusive Communities Ruling: 1 Year Later

Last summer the U.S. Supreme Court issued its much-anticipated decision in Texas Department of Housing and Community Affairs v. Inclusive Communities Project,[1] holding that disparate impact discrimination claims are...more

CFPB Relies on “Mystery Shoppers” in BancorpSouth Mortgage Discrimination Settlement

CFPB “mystery shoppers,” along with secret recordings, were part of the CFPB’s factual allegations in a recent mortgage discrimination settlement. The DOJ and CFPB announced a settlement with BancorpSouth Bank to resolve...more

Diversity assessment and remedial measures required by CFPB consent order

On June 29, 2016, BancorpSouth Bank announced a proposed settlement and consent order with the CFPB and the U.S. Department of Justice of charges that the bank’s mortgage lending practices violated the Equal Credit...more

BancorpSouth Bank Agrees to Pay More Than $10 million to Settle Charges of Redlining and Discrimination in Mortgage Underwriting...

On June 29, the Consumer Financial Protection Bureau (CFPB), the Department of Justice (DOJ), and BancorpSouth Bank (BancorpSouth) agreed to settle allegations of redlining and discrimination in violation of the Equal Credit...more

CFPB, DOJ Settle Fair Lending Claims Involving Allegations of Redlining, Discretionary Underwriting and Pricing, Overt...

The Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the Fair...more

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

CFPB and DOJ Settle Fair Lending Claims Involving Allegations of Redlining, Discretionary Underwriting and Pricing, and Overt...

The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the...more

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

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

CFPB and DOJ Continue Enforcement Orders Against Indirect Auto Lenders Based on Discriminatory Loan Pricing Policies

In February the Consumer Financial Protection Bureau and Department of Justice announced entry of a consent order with Toyota Motor Credit, the U.S. financing arm of Toyota Motors’ subsidiary Toyota Financial Services. The...more

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

CFPB Poised to Continue Focused Scrutiny of Indirect Auto Lenders

Earlier this month, the Consumer Financial Protection Bureau (CFPB) announced a joint enforcement action with the Department of Justice (DOJ) against Toyota Motor Credit Corporation (TMCC), an indirect auto lender, which,...more

CFPB and DOJ Enter Fourth Enforcement Order Against Indirect Auto Lender Based On Discriminatory Loan Pricing Policies

On February 2, the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) announced entry of a consent order against Toyota Motor Credit (TMC), the U.S. financing arm of Toyota Motors' subsidiary Toyota...more

Another auto finance company agrees to change dealer compensation policy to settle ECOA claims alleged by CFPB and DOJ

The CFPB and Department of Justice (the “Agencies”) announced recently that they have entered into a settlement with Toyota Motor Credit Corporation (TMCC) to resolve charges that TMCC engaged in unlawful discrimination in...more

CFPB and DOJ Continue Aggressive and Controversial Enforcement Efforts Against Indirect Auto Lenders with Enforcement Action...

On February 2, 2016, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) announced a joint enforcement action against indirect auto lender Toyota Motor Credit Corporation (Toyota Motor Credit)...more

DOJ Settles Action Alleging Bank Discriminated Against Disability Income Recipients

The U.S. Department of Justice recently entered into a consent order with Evolve Bank & Trust to settle charges that the bank discriminated against mortgage loan applicants on the basis of disability and receipt of public...more

Federal Agencies File Action Against Bank for Discriminatory Redlining

The Consumer Financial Protection Bureau (CFPB) and the U.S. Department of Justice filed a complaint in New Jersey District Court against Hudson City Savings Bank, F.S.B., alleging it engaged in illegal redlining practices...more

DOJ Settles Fair Lending Claims Based on Bank’s Mortgage Pricing System

The U.S. Department of Justice (DOJ) has announced a proposed consent order with Sage Bank to settle charges that the bank violated the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) by discriminating on...more

CFPB Deems Federally-Approved CRA Assessment Area to Be Discriminatory

The Federal Community Reinvestment Act (“CRA”) requires regulated financial institutions to focus on meeting “the credit needs of the local communities in which they are chartered.” See 12 U.S.C. § 2901(a)(3). Under the CRA,...more

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

Hudson City Savings Bank Reaches Largest Mortgage Redlining Settlement in DOJ History

The CFPB, DOJ, and Hudson City Savings Bank, F.S.B. (“Hudson City”) recently entered into the largest residential mortgage redlining settlement in DOJ history. On September 24, 2015, the parties filed a Joint Motion for Entry...more

CFPB and DOJ Take Action Against Fifth Third Bank

On September 28, 2015, the Consumer Financial Protection Bureau (CFPB) announced two separate actions against Fifth Third Bank. The first action—brought only by the CFPB—relates to Fifth Third Bank’s marketing of credit card...more

CFPB Brings Long-Anticipated First Redlining Enforcement Action – New Approach to Redlining Analysis is put into Action

On September 24, 2015, the CFPB and DOJ announced a joint action against Hudson City Savings Bank for allegedly discriminatory redlining practices from 2009 through 2013 in certain neighborhoods in New York, New Jersey,...more

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

CFPB and DOJ Announce Joint Action Against Hudson City Savings Bank, F.S.B.

On September 24, 2015, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) announced a joint action against Hudson City Savings Bank, F.S.B. (Hudson). The complaint alleges that Hudson...more

Why Does the CFPB Want to Curb Auto Lenders’ Discretion to Charge Higher or Lower Interest Rates?

On July 14, 2015, the Consumer Financial Protection Bureau (“CFPB”) and Department of Justice (“DOJ”) announced they had reached a “groundbreaking settlement” with American Honda Finance Corporation (“Honda”).(1) The...more

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