News & Analysis as of

Fair Housing Act (FHA) Equal Credit Opportunity Act

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

by Ballard Spahr LLP on

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

DOJ Files Redlining Lawsuit Against KleinBank

by Ballard Spahr LLP on

The U.S. Department of Justice (DOJ) recently commenced a redlining lawsuit against KleinBank, a state-chartered Minnesota bank subject to the regulatory authority of the Federal Deposit Insurance Corporation (FDIC). The...more

Republican members of House Financial Services Committee release new report on CFPB’s auto finance actions

by Ballard Spahr LLP on

Republican members of the House Financial Services Committee recently released a report, prepared by the Republican Staff of the Committee, titled “Unsafe at Any Bureaucracy, Part III: The CFPB’s Vitiated Legal Case Against...more

DOJ Settles Mortgage Discrimination Lawsuit Against National Bank for $54 Million

by Goodwin on

On January 20, the U.S. Attorney’s Office for the Southern District of New York (USAO) announced that it had settled a recently-filed lawsuit against a national bank, resolving allegations of mortgage discrimination. As...more

DOJ Files Lawsuit Against National Bank Alleging Mortgage Discrimination

by Goodwin on

On January 18, 2017, the U.S. Attorney’s Office for the Southern District of New York (USAO) filed a lawsuit against a national bank, alleging that the bank had engaged in a years-long practice of racial discrimination in...more

Financial Services Weekly News - January 2017

by Goodwin on

Editor's Note - In This Issue. The NYDFS revised its proposed cybersecurity regulations, the FDIC sought comment on its new de novo bank deposit insurance handbook, federal banking agencies finalized streamlined call...more

DOJ Files Consent Order Against Union Savings Bank, Guardian Savings Bank

by Ballard Spahr LLP on

The U.S. Department of Justice (DOJ) has filed a consent order against Union Savings Bank and Guardian Savings Bank to resolve redlining allegations. The complaint alleges that the banks violated the Fair Housing Act (FHA)...more

DOJ Settles with Ohio Banks Over Alleged Lending Discrimination

by Goodwin on

On December 28, the U.S. Department of Justice (DOJ) announced that it filed a complaint against, and entered a consent order with, two Ohio-based banks, resolving allegations that the banks had violated the Fair Housing Act...more

HUD Fair Housing Guidance Raises ECOA Risk in Serving LEP Consumers

by Ballard Spahr LLP on

New guidance issued by the U.S. Department of Housing and Urban Development (HUD) on Fair Housing Act (FHA) protections for persons with limited English proficiency (LEP) could have reverberations under the Equal Credit...more

DOJ Files Suit Against California Lenders Alleging Discriminatory Loan Modification Scheme

by Goodwin on

On August 23, 2016, the Department of Justice (DOJ) announced the filing of a lawsuit in the United States District Court for the Northern District of California against several California-based mortgage loan modification...more

High Court Inclusive Communities Ruling: 1 Year Later

by WilmerHale on

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

by MoFo Reenforcement on

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

by Ballard Spahr LLP on

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...

by McGuireWoods LLP on

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...

by Ballard Spahr LLP on

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...

by Ballard Spahr LLP on

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...

by Ballard Spahr LLP on

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

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

Industry trade groups’ renewed challenge to HUD disparate impact rule could yield helpful precedent for ECOA cases

by Ballard Spahr LLP on

The D.C. district court recently granted two industry trade associations whose members sell homeowners insurance leave to file an amended complaint in their lawsuit challenging the Fair Housing Act (FHA) disparate impact rule...more

Update on the U.S. Supreme Court’s Inclusive Communities Decision

by Dorsey & Whitney LLP on

As previously reported on this blog, the U.S. Supreme Court’s decision in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc., 135 S. Ct. 2507 (2015) adopted a burden-shifting approach to...more

DOJ Settles Action Alleging Bank Discriminated Against Disability Income Recipients

by Ballard Spahr LLP on

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

by Carlton Fields on

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

by Ballard Spahr LLP on

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

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

CFPB Deems Federally-Approved CRA Assessment Area to Be Discriminatory

by Dorsey & Whitney LLP on

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

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