Redlining Isn’t What it Used To Be
Discrimination and Bias in Residential Lending
Keeping up with all the new regulations
Troutman Pepper Attorneys Update Fair Lending Handbook for the American Association of Bank Directors - The Consumer Finance Podcast
Fair Lending 101 for Debt Collectors - The Consumer Finance Podcast
Corporate Law Report: U.S. Manufacturing, Social Media, Online Endorsements, Hart Scott Rodino, More
Until recently, the most popular topic of discussion in the financial services world has been the outcome of the Supreme Court case CFPB v. Community Financial Services Association of America, regarding the constitutionality...more
The plaintiffs and intervenors in the lawsuit filed in a Texas federal district court challenging the CFPB’s final small business lending rule implementing Section 1071 of Dodd-Frank (Rule) have filed a consolidated motion...more
Last week, by a vote of 221-202, the House of Representatives voted to approve S.J. 32, the resolution introduced under the Congressional Review Act to override the CFPB’s final Section 1071 small business lending rule (1071...more
Ten years after the US Department of Housing and Urban Development (HUD) first promulgated its disparate impact rule (the Rule), on September 19, the US District Court for the District of Columbia granted HUD’s motion for...more
One of the Biden administration’s first actions was a January 25, 2021, executive order on Redressing Our Nation’s and the Federal Government’s History of Discriminatory Housing Practices and Policies, whereby the White House...more
Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more
In between holiday shopping and merriment, we here at the Financial Services Report are pondering what’s in a name. Not much, said Shakespeare. Isaac Asimov begged to differ in a mystery story about who killed one of the...more
FY18 Omnibus. With the past week being a recess period, House and Senate Appropriators made little progress on drafting the Omnibus bill, but Clark Hill is hearing Appropriators have finalized or are close to finalizing...more
In case you missed it, here is our list of the most significant financial services rulings in 2017 from the Supreme Court of the United States and major federal appellate courts. While there were no decisions of overwhelming...more
The politics surrounding the appointment of a new justice to the U.S. Supreme Court dominated the news cycle during the 2016-17 term, but the Court’s decisions themselves have been far from controversial. As the term draws to...more
EDITOR’S NOTE - Summer blockbuster season is officially upon us. Have you seen Wonder Woman yet? What about Guardians of the Galaxy Part 2? It’s déjà vu all over again with Baywatch, Pirates of the Caribbean, Alien,...more
On October 28, 2016, the U.S. Supreme Court granted the petition for a writ of certiorari in Grimm v. Gloucester County School Board, a decision of the U.S. Court of Appeals for the Fourth Circuit that marked the first time...more
2015 was an action-packed year for fair lending, including a long-anticipated Supreme Court decision on disparate-impact claims under the Fair Housing Act (“FHA”), record-breaking redlining settlements, a new round of...more
We recently blogged about remarks made by Patrice Ficklin, Director of the CFPB’s Office of Fair Lending, at the American Bar Association’s Consumer Financial Services Institute. In her remarks, she stated that the CFPB is...more
As of now, the Equal Credit Opportunity Act (ECOA) prohibits dealers from unintentional, or “disparate impact,” discrimination in setting dealer reserves in auto financing. This disparate impact can result from policies or...more
To resolve charges by the Consumer Federal Protection Bureau (CFPB) and the Department of Justice (DOJ) that it engaged in unlawful discrimination in violation of the Equal Credit Opportunity Act (ECOA), American Honda...more
The U.S. Supreme Court’s surprising disparate-impact ruling on June 25, 2015 regarding tax-credit allotments and discrimination means lenders need to take a hard look at their policies and operations. The Court ruled 5-4...more
The House has approved an amendment aimed at barring the Department of Justice (DOJ) from enforcing the U.S. Department of Housing & Urban Development’s (HUD) fair lending disparate impact rule. The amendment is to H.R. 2578,...more
In recent years, the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) have increased fair lending enforcement under the disparate impact theory of liability. This term, however, the U.S. Supreme...more
The question of whether plaintiffs suing under the Fair Housing Act may bring disparate impact claims is back on the U.S. Supreme Court's docket as a result of the Court's decision today to grant certiorari in Mount Holly v....more