The CFPB has published a document on its website that “communicates the extent to which the Equal Credit Opportunity Act (ECOA) and its implementing Regulation B apply with respect to franchises seeking credit to finance...more
In June of this year, the United States Supreme Court held that an employer who fires an employee for being gay or transgender violates the Civil Rights Act of 1964 ("Title VII"). Title VII prohibits employers from refusing...more
On July 15, 2020, the CPFB filed a complaint in federal court against Townestone Financial, Inc. (Townestone) representing the first ever redlining complaint against a non-bank mortgage lender. ...more
Earlier this week, in Bostock v. Clayton County, Georgia, the U.S. Supreme Court ruled that firing an employee for being homosexual or transgender constitutes discrimination based on the employee’s sex in violation of Title...more
On February 12, 2020, the House Financial Services Task Force on Artificial Intelligence will hold a hearing titled, “Equitable Algorithms: Examining Ways to Reduce AI Bias in Financial Services.”...more
One of the most important areas of consumer financial regulation today is the use of internet- or social media-based platforms to target advertising for consumer financial products. ...more
On October 29, 2019, the House Financial Services Subcommittee on Oversight and Investigations held a hearing to explore the issue of lending and housing discrimination against members of the LGBTQ+ community....more
Dodd-Frank created the Consumer Financial Protection Bureau (“CFPB”) and granted that federal agency significant powers to regulate financial institutions. But Dodd-Frank also empowers state regulators to enforce the new...more
In This Issue: - Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit - Industry Employers Should Prepare Now for Health Care Reform - Title...more
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