News & Analysis as of September 21, 2024

Mortgages › Equal Access to Credit

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Wiley Consumer Protection Download (November 9, 2020)

Wiley Rein LLP on 11/9/2020

Regulatory Announcements - CFPB Issues No Action Letter to Facilitate Consumer Access to Loans. The Consumer Financial Protection Bureau (CFPB) issued a No-Action Letter to Bank of America, N.A. on November 5 regarding...more

CFPB Files First Ever Redlining Complaint Against a Non-Bank Mortgage Lender

Ballard Spahr LLP on 7/21/2020

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

Bipartisan Bill Introduced to Expand Mortgage Access to the Self-Employed

Ballard Spahr LLP on 9/14/2018

U.S. Senators Mark R. Warner (D-VA) and Mike Rounds (R-SD) introduced federal legislation on August 28, 2018, that would expand access to mortgages to the self-employed, gig workers, and other creditworthy individuals with...more

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

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

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Mortgages › Equal Access to Credit

Wiley Consumer Protection Download (November 9, 2020)

CFPB Files First Ever Redlining Complaint Against a Non-Bank Mortgage Lender

Bipartisan Bill Introduced to Expand Mortgage Access to the Self-Employed

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

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