News & Analysis as of September 21, 2024

Discrimination › Community Reinvestment Act

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Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's... more +

Affirmative Action in Lending: The Implications of the Harvard Decision on Financial Institutions

Alston & Bird on 10/11/2023

The U.S. Supreme Court ruling ending race-based admissions at colleges and universities could have a ripple effect on unrelated fields. Our Financial Services & Products Group explores how the Harvard decision could change...more

Vice Chair Barr Speaks on Fair Lending in Age of AI

Cadwalader, Wickersham & Taft LLP on 7/21/2023

Michael Barr, the Federal Reserve Board’s (“FRB”) Vice Chair for Supervision, delivered remarks, titled “Furthering the Vision of the Fair Housing Act,“ to the National Fair Housing Alliance 2023 National Conference earlier...more

Nutter Bank Report, October 2017

Nutter McClennen & Fish LLP on 10/31/2017

With Vice President Mike Pence casting the tie-breaking vote, the U.S. Senate has voted to repeal the CFPB’s arbitration rule, which would have prohibited banks and other covered consumer financial service providers from...more

OCC Provides Guidance for Downgrading Banks’ CRA Ratings

Goodwin on 10/23/2017

On October 12, 2017, the OCC published the section of its policy and procedures manual, PPM 5000-43, entitled “Impact of Evidence of Discrimination or Other Illegal Credit Practices on Community Reinvestment Act Ratings.” The...more

Hudson City Savings Bank Reaches Largest Mortgage Redlining Settlement in DOJ History

McGuireWoods LLP on 10/2/2015

The CFPB, DOJ, and Hudson City Savings Bank, F.S.B. (“Hudson City”) recently entered into the largest residential mortgage redlining settlement in DOJ history. On September 24, 2015, the parties filed a Joint Motion for Entry...more

CFPB and DOJ announce redlining settlement

Ballard Spahr LLP on 9/28/2015

Consistent with recent indications from CFPB and Department of Justice officials that more redlining cases would soon be coming, the CFPB and DOJ have announced a proposed consent order with Hudson City Savings Bank to settle...more

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