Fair Lending

CFPB Targets Auto Financing For Enforcement

by Michael Volkov on 5/14/2013

The Consumer Finance Protection Bureau continues to spread its wings in the enforcement arena. It is an agency born and confined in political controversy. ...more

New Risks for Indirect Lenders

by Michael Lueder | Foley & Lardner LLP on 4/23/2013

Last month the Consumer Financial Protection Bureau announced that it will start holding banks accountable for the discriminatory actions of indirect auto lenders. The issue arises when a consumer goes to purchase a car and...more

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

by Robert H. Ledig, Thomas P. Vartanian | Dechert LLP on 4/16/2013

In This Presentation: - The Qualified Mortgage (QM) Rule - Small Creditor QM Proposal - The Ability-to-Repay (ATR) Rule: What It Says and What It Means - Liability for Failure to Comply with the ATR and QM...more

CFPB’s Strategic Plan, Budget, and Performance Plan and Report tracks supervision and enforcement emphasis

by Barbara S. Mishkin | Ballard Spahr LLP on 4/16/2013

The CFPB’s FY 2013-FY 2017 Strategic Plan, FY 2013 and FY 2014 Budget, and FY 2013 Annual Performance Plan and Report tracks the Bureau’s focus on supervision and enforcement. (While Director Cordray’s letter accompanying the...more

CFPB Issues Third Semiannual Report

by BuckleySandler LLP on 4/15/2013

On March 29, the CFPB released its third semiannual report, which covers the Bureau’s activities from July 1, 2012 through December 31, 2012. The report reviews, among other things, the CFPB’s supervision, enforcement, and...more

BANKING AND FINANCIAL INSTITUTIONS CLIENT UPDATE: Emerging Thoughts and Reactions to Federal Financial Institutions Examination...

by Norman Antin, Mark Goldschmidt, Jeffrey Haas, Kevin Houlihan, Joseph Passaic, Jonathan Pavony, David Teeples | Patton Boggs LLP on 4/5/2013

On January 22, 2013, the Federal Financial Institutions Examination Council (FFIEC) released proposed guidance regarding the use of social media by federally regulated financial institutions. ...more

2012 Bank Enforcement Actions Still High, But Significantly Lower Than 2010-11

by Robert H. Ledig, Robert Rhatigan, Aline Smith, Thomas P. Vartanian | Dechert LLP on 4/4/2013

Originally published in BNA’s Banking Report, 100 BBR 617 on 04/02/2013. Overall Trends & Outlook - In 2012, the federal banking agencies, including the Federal Deposit Insurance Corporation (‘‘FDIC’’), Office...more

CFPB issues third Semi-Annual Report

by Barbara S. Mishkin | Ballard Spahr LLP on 4/4/2013

The CFPB has issued its third Semi-Annual Report to the President and Congress. The report notes that it “predominately” covers the CFPB’s activities from July 1 through December 31, 2012 but, in certain sections, covers the...more

CFPB Announces Plans to Hold Auto Lenders Liable for Discriminatory Loans

by Michael Mallow, Michael Thurman | Loeb & Loeb LLP on 4/3/2013

The Consumer Financial Protection Bureau issued a guidance bulletin announcing that it will treat indirect auto lenders as creditors subject to the Equal Credit Opportunity Act (ECOA). The March 21 bulletin follows the CFPB's...more

Auto finance: can we really call disparate impact “discrimination”?

by Christopher J. Willis | Ballard Spahr LLP on 4/1/2013

I want to thank Jeff Sovern over at the Public Citizen Consumer Law & Policy Blog for having an interesting back-and-forth with me over the last week about the application of the disparate impact theory of liability to dealer...more

Insights Into The Financial Fraud Enforcement Task Force Priorities For 2013

by BuckleySandler LLP on 4/1/2013

On March 20, 2013, Michael Bresnick, Executive Director of DOJ’s Financial Fraud Enforcement Task Force gave a speech at the Exchequer Club of Washington, DC highlighting recent accomplishments of the Task Force and outlining...more

CFPB Issues Guidance On Indirect Auto Lending

by BuckleySandler LLP on 4/1/2013

On March 21, the CFPB issued Bulletin 2013-02, which provides guidance to bank and nonbank indirect auto lenders about compliance with federal fair lending requirements, and specifically addresses the practice by which auto...more

NCUA Issues Fair Lending Guide, Plans Fair Lending Webinar

by BuckleySandler LLP on 3/28/2013

On March 19, the NCUA released a letter to credit unions to introduce its new fair lending guide and announce other fair lending tools. The fair lending guide includes (i) an overview of fair lending law and regulations, (ii)...more

CFPB To Pursue Auto Lenders For Illegal Discriminatory Markups

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 3/25/2013

The CFPB has released a bulletin explaining its belief that certain lenders that offer auto loans through dealerships are responsible for unlawful, discriminatory pricing. According to the CFPB, potentially discriminatory...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 22, 2013

by BuckleySandler LLP on 3/25/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE -...more

CFPB Issues Guidance on Indirect Auto Lending ECOA Compliance

by John L. Culhane, Jr., Alan S. Kaplinsky, Christopher J. Willis | Ballard Spahr LLP on 3/22/2013

The Consumer Financial Protection Bureau has issued guidance on fair lending compliance for indirect auto lenders. The guidance targets the practice of “dealer markups.” This practice involves an auto dealer charging the...more

The CFPB previews its coming auto finance fair lending enforcement actions

by Christopher J. Willis | Ballard Spahr LLP on 3/22/2013

Earlier today, the CFPB released its guidance bulletin with respect to automobile indirect finance fair lending issues. The bulletin’s intent is unmistakably clear from the accompanying press release’s tag line: “CONSUMER...more

DOJ Settles Another ‘Pattern or Practice’ Fair Lending Case

by Richard J. Andreano, Jr., John L. Culhane, Jr., Alan S. Kaplinsky, Christopher J. Willis | Ballard Spahr LLP on 2/21/2013

The U.S. Department of Justice (DOJ) recently settled a fair lending lawsuit against Texas Champion Bank. This means that, once again, a DOJ attempt to use disparate impact evidence to establish that a lender engaged in a...more

Mortgage Banking Update - February 21, 2013

by Richard J. Andreano, Jr., Anthony Kaye, John Kerkorian, Barbara S. Mishkin, Matthew Saunig, John D. Socknat, Michael S. Waldron, Emily Wegener | Ballard Spahr LLP on 2/21/2013

In This Issue: - MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules - Federal Judge Refuses To Dismiss Arizona Mortgage Class Action Alleging...more

OCC Personnel Changes Elevate Role Of Enterprise Governance And Ombudsman, Indicate Increased Focus On Fair Lending

by BuckleySandler LLP on 2/19/2013

On February 7, the OCC announced that Larry Hattix will serve as Senior Deputy Comptroller for Enterprise Governance and Ombudsman. The move also elevates enterprise governance to the OCC’s Executive Committee. ...more

Sixth Circuit Affirms Fair Lending Class Certification Denial

by BuckleySandler LLP on 1/28/2013

On January 15, the U.S. Court of Appeals for the Sixth Circuit affirmed a district court’s denial of class certification sought by a proposed class of borrowers alleging that a lender’s mortgage loan pricing policy, which...more

Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit

by Richard J. Andreano, Jr., John L. Culhane, Jr., Stefanie Jackman, Alan S. Kaplinsky, Christopher J. Willis | Ballard Spahr LLP on 1/28/2013

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

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 18, 2013

by BuckleySandler LLP on 1/22/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - E-COMMERCE - PRIVACY/DATA SECURITY - PAYMENTS -...more

Corporate Law Report: U.S. Manufacturing, Social Media, Online Endorsements, Hart Scott Rodino, More [Video]

by JD Supra Law News on 1/17/2013

Watch our latest Corporate Law Report for: a word of caution from Pillsbury on using endorsement as part of your online advertising; enforcement predictions for 2013 from Mike Volkov; social media for global corporations from...more

CFPB and Justice Department Agree to Coordinate Fair Lending Enforcement Efforts

by Michael W. Jahnke, Michael Mallow, Michael Thurman | Loeb & Loeb LLP on 12/20/2012

The U.S. Department of Justice and the Consumer Financial Protection Bureau have signed an agreement to coordinate fair lending enforcement efforts, including the sharing of information, joint investigations, and referrals...more

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CFPB Targets Auto Financing For Enforcement

New Risks for Indirect Lenders

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

CFPB’s Strategic Plan, Budget, and Performance Plan and Report tracks supervision and enforcement emphasis

CFPB Issues Third Semiannual Report

BANKING AND FINANCIAL INSTITUTIONS CLIENT UPDATE: Emerging Thoughts and Reactions to Federal Financial Institutions Examination...

2012 Bank Enforcement Actions Still High, But Significantly Lower Than 2010-11

CFPB issues third Semi-Annual Report

CFPB Announces Plans to Hold Auto Lenders Liable for Discriminatory Loans

Auto finance: can we really call disparate impact “discrimination”?

Insights Into The Financial Fraud Enforcement Task Force Priorities For 2013

CFPB Issues Guidance On Indirect Auto Lending

NCUA Issues Fair Lending Guide, Plans Fair Lending Webinar

CFPB To Pursue Auto Lenders For Illegal Discriminatory Markups

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 22, 2013

CFPB Issues Guidance on Indirect Auto Lending ECOA Compliance

The CFPB previews its coming auto finance fair lending enforcement actions

DOJ Settles Another ‘Pattern or Practice’ Fair Lending Case

Mortgage Banking Update - February 21, 2013

OCC Personnel Changes Elevate Role Of Enterprise Governance And Ombudsman, Indicate Increased Focus On Fair Lending

Sixth Circuit Affirms Fair Lending Class Certification Denial

Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 18, 2013

Corporate Law Report: U.S. Manufacturing, Social Media, Online Endorsements, Hart Scott Rodino, More [Video]

CFPB and Justice Department Agree to Coordinate Fair Lending Enforcement Efforts

Corporate Law Report: U.S. Manufacturing, Social Media, Online Endorsements, Hart Scott Rodino, More [Video]

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