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
Recently the U.S. Department of Justice (DOJ) entered into a proposed consent order with Ameris Bank to resolve allegations of redlining from 2016 through 2021 in majority Black and Hispanic areas in the Bank’s Jacksonville,...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
More than ten years after the filing of the initial complaint challenging the 2013 disparate impact rule (Rule) adopted by the U.S. Department of Housing and Urban Development (HUD) under the Fair Housing Act (Act), the...more
The Mortgage Bankers Association and Housing Policy Council (the “Associations”) recently filed an Amici Curiae brief supporting the position of Townstone Financial regarding the scope of the Equal Credit Opportunity Act...more
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
The American Association of Bank Directors (AABD) recently published the second edition of its Practical Handbook on Fair Lending for Bank Directors and Executive Officers (the Handbook), updating the first edition of the...more
Please join Troutman Pepper Partners Chris Willis and Lori Sommerfield, along with American Association of Bank Directors (AABD) President David Baris, for a special announcement about the recently published second edition of...more
In a continuation of enforcement activity related to redlining under October 2021’s Combatting Redlining Initiative, the U.S. Department of Justice (DOJ) announced on May 31, 2023, that ESSA Bank & Trust has agreed to pay $3...more
This week the U.S. Department of Housing and Urban Development (HUD) announced plans for additional steps it plans to take related to criminal history screening. This comes on the heels of the Consumer Financial Protection...more
On March 15, the New York attorney general announced a settlement with a real estate brokerage firm to resolve claims that it allegedly discriminated against Black, Hispanic, and other homebuyers of color on Long Island. ...more
On March 17, HUD announced the submission of a final rule—Reinstatement of HUD’s Discriminatory Effects Standard—which would rescind the agency’s 2020 regulation governing Fair Housing Act (FHA or the Act) disparate impact...more
On March 13, the DOJ and CFPB filed a statement of interest saying that a “lender violates both the [Fair Housing Act (FHA)] and ECOA if it relies on an appraisal that it knows or should know to be discriminatory.” ...more
The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have filed a Statement of Interest regarding the application of the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) to a...more
Mortgage lenders of all sizes are paying closer attention to environmental, social and governance (“ESG”) issues as they face inquiries from their investors and customers as well as increased scrutiny from regulators. Given...more
In the largest redlining settlement in the department’s history, the U.S. Department of Justice (DOJ) announced that an agreement has been reached to resolve redlining allegations against a Los Angeles-based bank. Under the...more
On January 9, the DOJ and HUD announced they filed a joint statement of interest in a pending action alleging discrimination under the Fair Housing Act (FHA) against Black and Hispanic rental applicants based on the use of an...more
On December 19, the U.S. District Court for the Northern District of Illinois granted summary judgment in favor of a national bank with respect to discriminatory lending allegations brought by the County of Cook in Illinois...more
The National Community Reinvestment Coalition (NCRC) recently filed two complaints against appraisers with the Department of Housing and Urban Development asserting different treatment based on race in violation of the Fair...more
The Justice Department announced that it has entered into an agreement with Lakeland Bank to settle the DOJ’s claims that Lakeland engaged in unlawful redlining in the Newark, New Jersey metropolitan area. The DOJ’s lawsuit...more
On June 21, 2022, the U.S. Department of Justice (DOJ) filed a complaint and settlement agreement in federal court alleging that a social media company is in violation of the Fair Housing Act (FHA), 42 U.S.C. §§ 3601-3619,...more
On March 22, HUD announced the delivery of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) Action Plan to President Biden. The PAVE Action Plan outlines actions that are intended to substantially...more
Late last year, news services reported on the results of the efforts of a black couple living in Northern California to challenge what they believed was an initial, discriminatory low-ball appraisal of their home. To test...more
For the past six months, we have received calls from banks and non-depository mortgage lenders regarding Department of Justice (“DOJ”) investigations into mortgage lending discrimination. These DOJ inquiries are bypassing the...more
The CFPB’s Fair Lending Director, together with senior officials from other federal agencies, have sent a letter to The Appraisal Foundation (TAF) commenting on proposed changes to the Uniform Standards of Professional...more
The Consumer Financial Protection Bureau (“CFPB”) and U.S. Department of Justice (“DOJ”) reached a settlement with Trustmark National Bank (“Trustmark”) to resolve allegations that it discriminated against Black and Hispanic...more