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Fair Lending Race Discrimination

GeoDataVision

Is Fair Lending Enforcement Fair Today? Part II

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Previously, I have written about regulatory enforcement of anti-redlining regulations. I pointed out the problems and potentially misleading statistical conclusions caused by the application of what is called a “REMA” or...more

Troutman Pepper

FTC and Arizona AG Reach $2.6 Million Settlement with Motor Vehicle Dealer Over Alleged Deceptive and Discriminatory Sales and...

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Last week, the Federal Trade Commission (FTC) and the State of Arizona announced a joint action against Coulter Motor Company, an Arizona-based motor vehicle dealership, and its former general manager, for allegedly engaging...more

GeoDataVision

Redlining Isn’t What it Used To Be

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In a recent podcast, Len and Dean discuss the June 10 article "Manufacturing Fair Lending" from National Mortgage Professional, which delves into the "Modern Theory of Redlining" introduced by bank regulators after AG...more

GeoDataVision

How to Minimize Compliance Risk in the Radical New “Modern” Redlining Era

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As any bank professional regulatory compliance professional knows redlining is the hottest issue today and has been since Attorney General Merrick Garland announced the “Combatting Redlining Initiative” in October 2021. Since...more

GeoDataVision

“Manufactured” Redlining

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In a recent article in National Mortgage Professional entitled "Manufacturing Fair Lending”, former chief of the Housing and Civil Enforcement Section at the Department of Justice under Attorney General William Barr, Paul...more

GeoDataVision

“Figures don’t lie” but do regulators figure? Simpson’s Paradox says so

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In emails in recent months we've warned bankers about the extremely aggressive enforcement of anti-redlining policies. This is becoming more and more obvious every day as more banks get threatened with referral to the DOJ....more

GeoDataVision

Are Regulators Fairly Evaluating the Hottest Fair Lending Issue: Redlining?

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Since October 2021, the prudential bank regulators in concert with the Department of Justice have been pursuing the “Anti-Redlining Initiative” announced by Attorney General Merrick Garland on October 21, 2021. During that...more

GeoDataVision

Is Fair Lending Enforcement Fair Today?

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Every banker should know by now that the Department of Justice announced an “Anti-Redlining” crusade in October 2021. In his October 2021, press release, Attorney General Merrick Garland, proclaimed that redlining is...more

Ballard Spahr LLP

Acting Comptroller Hsu Highlights Latest Efforts of OCC in Elevating Financial Fairness

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On April 4, acting Comptroller of the Currency Michael J. Hsu provided his remarks for the second year in a row at the Just Economy Conference hosted by the National Community Reinvestment Coalition. He focused his remarks on...more

Troutman Pepper

DOJ Comments Reveal Road Ahead for Mortgage Redlining

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For the last two years, the federal regulatory agencies have been waging a war on redlining by mortgage lenders — a war that shows no signs of abating. Originally published in Law360 - December 12, 2023....more

GeoDataVision

The Potentially Adverse Fair Lending Implications of the New CRA Rule

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There has been much understandable handwringing about the new CRA and its complexity as well as the high CRA exam failure rate predicted by regulators based on the new assessment areas and the higher performance standards...more

GeoDataVision

What is a “REMA” and why is it so important?

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As I write this article the Department of Justice is pursuing a record-breaking number of “redlining” cases against banks and mortgage lenders. The “Anti-redlining Initiative” was announced October 22, 2021, by Attorney...more

Troutman Pepper

At Fair Lending Conference, DOJ Officials Discuss the “Combatting Redlining Initiative”: Progress Made and the Road Ahead

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Last week, the annual Community Reinvestment Act & Fair Lending Colloquium took place in Austin, Texas. Two officials from the U.S. Department of Justice (DOJ) discussed in detail the “Combatting Redlining Initiative” led by...more

Ballard Spahr LLP

DOJ Redlining Consent Order With Ameris Bank

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Recently the U.S. Department of Justice (DOJ) entered into a proposed consent order with Ameris Bank to resolve allegations of redlining from 2016 through 2021 in majority Black and Hispanic areas in the Bank’s Jacksonville,...more

Troutman Pepper

DOJ Announces Two More Multi-Million Dollar Redlining Settlements, States Two Dozen More Active Investigations Underway

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In the last three weeks, the U.S. Department of Justice (DOJ) reached two more settlements with lenders under its Combatting Redlining Initiative, which began in October 2021. On September 27, the DOJ announced that...more

Orrick, Herrington & Sutcliffe LLP

DOJ and RI-based bank settlement agreement regarding redlining claims

On September 27, the DOJ announced a $9 million settlement agreement with a Rhode Island-based community bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by engaging in...more

Hudson Cook, LLP

CFPB Bites of the Month - July 2023 - Freedom, Independence, and Celebration From the CFPB

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In this month's article, we share some of our top "bites" for the prior month covered during the July 2023 webinar. Bite 10: Public Inquiry Launched into Credit Card and Loan Products for Healthcare Costs - On July 7,...more

Orrick, Herrington & Sutcliffe LLP

DOJ, CFPB: Lenders that rely on discriminatory appraisals violate the FHA and ECOA

On March 13, the DOJ and CFPB filed a statement of interest saying that a “lender violates both the [Fair Housing Act (FHA)] and ECOA if it relies on an appraisal that it knows or should know to be discriminatory.” ...more

Ballard Spahr LLP

DOJ announces $9 million agreement to resolve redlining allegations against Park National Bank

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Park National Bank (“Park National”), based in Ohio, has agreed to pay $9 million to settle allegations brought by the U.S. Department of Justice (DOJ) that it engaged in unlawful redlining practices in the Columbus...more

Alston & Bird

District Court Dismisses CFPB’s Redlining Case Against Townstone Financial

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A&B ABstract: On Friday, in the CFPB v. Townstone Financial fair lending case, the U.S. District Court for the Northern District of Illinois dismissed with prejudice the complaint filed by the Consumer Financial Protection...more

Orrick, Herrington & Sutcliffe LLP

District Court grants summary judgment to bank in discriminatory lending suit

On December 19, the U.S. District Court for the Northern District of Illinois granted summary judgment in favor of a national bank with respect to discriminatory lending allegations brought by the County of Cook in Illinois...more

Ballard Spahr LLP

DOJ announces settlement of redlining lawsuit

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The Justice Department announced that it has entered into an agreement with Lakeland Bank to settle the DOJ’s claims that Lakeland engaged in unlawful redlining in the Newark, New Jersey metropolitan area. The DOJ’s lawsuit...more

Sheppard Mullin Richter & Hampton LLP

Interagency Task Force Unveils Action Plan to Address Racial Discrimination in Home Appraisals

On March 22, HUD announced the delivery of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) Action Plan to President Biden.  The PAVE Action Plan outlines actions that are intended to substantially...more

Cozen O'Connor

Auto Dealer Pays $10 Million in Record-Setting Settlement with the FTC and Illinois

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The FTC and Illinois AG Kwame Raoul reached a settlement with multistate auto dealership Edward Napleton Automotive Group and affiliate persons and dealerships (collectively, “Napleton”) to resolve allegations that Napleton...more

Nelson Mullins Riley & Scarborough LLP

DOJ Redlining Initiative Revealed

For the past six months, we have received calls from banks and non-depository mortgage lenders regarding Department of Justice (“DOJ”) investigations into mortgage lending discrimination. These DOJ inquiries are bypassing the...more

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