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Equal Credit Opportunity Act Lending

Sheppard Mullin Richter & Hampton LLP

CFPB Small Business Lending Data Rule Survives Challenge in Federal Court

On February 19, a federal magistrate judge for the United States District Court for the Southern District of Florida issued a report and recommendation rejecting a trade group’s challenge to the CFPB’s small business lending...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Upholds Reverse Redlining Verdict Against Mortgage Lender

On February 14, a divided Second Circuit panel upheld a 2016 jury verdict which found that a mortgage lender violated, among other laws, the Equal Credit Opportunity Act (“ECOA”) by engaging in “reverse redlining” when it...more

Sheppard Mullin Richter & Hampton LLP

CFPB Study Finds Differential Treatment in the Small Business Lending Market

On November 13, the Consumer Financial Protection Bureau released a “pilot study” on the small business lending market revealing “significant disparities” in how lenders treat black and white small business owners. As part of...more

Ballard Spahr LLP

CFPB hires Assistant Director for Office of Small Business Lending Markets; announces other senior leadership additions

Ballard Spahr LLP on

Earlier this week, the CFPB announced the addition of several new members to its senior leadership team. The announcement included the news that the CFPB has filled the position of Assistant Director for the Office of...more

Ballard Spahr LLP

Director Cordray defends CFPB positions in appearance before Senate Banking Committee; comments on small business lending and...

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Much of Director Cordray’s testimony in his appearance before the Senate Banking Committee yesterday consisted of his predictable defense of various CFPB positions. While the hearing was much less contentious than last...more

Ballard Spahr LLP

U.S. Senators urge expedited CFPB action on small business lending data collection rules

Ballard Spahr LLP on

We recently blogged about an American Banker article written by officials of three community groups that urged President Obama to publicly denounce Director Cordray for failing to issue regulations implementing the small...more

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