The Consumer Financial Protection Bureau made news this year when it announced that it considered discrimination to be illegal as an "unfair" practice, including in situations where fair lending laws do not apply. In March,...more
Part Three: Risk Reward Will Always be Part of the Subprime Future -
We resume our conversation where we left off on Part Two with a question citing the Taskforce report with recommendations for improved financial...more
[co-author: John Ropiequet]
The fair lending cases filed by Miami against four major mortgage lenders, reported in several previous Annual Surveys, came to a sudden, anticlimactic end when the city voluntarily dismissed...more
4/28/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Disparate Impact ,
Disparate Treatment ,
ECOA ,
Fair Housing Act (FHA) ,
Fair Lending ,
HUD ,
Mortgage Lenders ,
Mortgages ,
Proximate Cause ,
Wells Fargo
Just a little over a year ago, I was sworn in as a member of the newly created Taskforce on Federal Consumer Financial Law, along with my four fellow taskforce members. The taskforce was the brainchild of Consumer Financial...more
[co-author: John L. Ropiequet]
The fair lending cases filed by Miami against large mortgage lenders in 2013, in which the city sought to recover lost property tax revenues and increased municipal expenses allegedly caused...more
6/3/2020
/ Amended Complaints ,
Banks ,
Consumer Financial Products ,
Department of Justice (DOJ) ,
Fair Housing Act (FHA) ,
Fair Lending ,
Financial Services Industry ,
HUD ,
Miami ,
Mortgage Lenders ,
Mortgages ,
National Origin Discrimination ,
Race Discrimination ,
Settlement Agreements ,
Wells Fargo
The novel coronavirus upended American lives, changing how we work, how we socialize, how we shop, and - for millions of us - whether we are still employed. For many creditors, it also changed patterns of consumer default. In...more
The past year saw the lower courts wrestle with the aftermath of the U.S. Supreme Court’s decision in Bank of America Corp. v. City of Miami that, like the Court’s previous ruling in Texas Department of Community Affairs v....more
6/18/2019
/ Bank of America v Miami ,
Banks ,
Burden of Proof ,
Causation ,
Discovery ,
Disparate Impact ,
Disparate Treatment ,
Enforcement Actions ,
Expert Testimony ,
Fair Housing Act (FHA) ,
Fair Lending ,
Fannie Mae ,
Foreclosure ,
HUD ,
Mortgage Lenders ,
Motion to Dismiss ,
Municipalities ,
Pleading Standards ,
Property Tax ,
Property Valuation ,
Proximate Cause ,
Public Comment ,
Remand ,
Texas Dept of Housing v Inclusive Communities