News & Analysis as of

Fair Lending Settlement Agreements

Orrick, Herrington & Sutcliffe LLP

DOJ and RI-based bank settlement agreement regarding redlining claims

On September 27, the DOJ announced a $9 million settlement agreement with a Rhode Island-based community bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by engaging in...more

Ballard Spahr LLP

DOJ announces settlement of redlining lawsuit

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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

Goodwin

DOJ Settles with Social Media Company to Resolve Fair Lending and Discriminatory Advertising Allegations

Goodwin on

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

Bilzin Sumberg

An Opportune Time For Financial Institutions to Review Their Fair Lending Procedures

Bilzin Sumberg on

At the beginning of his term, President Biden declared that his administration would make it a policy to eliminate “racial bias and other forms of discrimination in all states of home-buying and renting.”...more

Ballard Spahr LLP

CFPB files second status report with court regarding Section 1071 implementation

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The CFPB has filed its second status report with the California federal district court as required by the Stipulated Settlement Agreement in the lawsuit filed against the Bureau in May 2019 alleging wrongful delay in adopting...more

Ballard Spahr LLP

DOJ Settles ECOA Claims Against Used Maryland Car Dealership

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The Department of Justice recently announced that it had settled a lawsuit filed in 2019 that alleged a Maryland used car dealership discriminated against African Americans in violation of the Equal Credit Opportunity Act by...more

Hudson Cook, LLP

Fair Lending Developments in the Wake of City of Miami

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[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

Ballard Spahr LLP

CFPB files status report with court regarding Section 1071 implementation

Ballard Spahr LLP on

The CFPB has filed its first status report with the California federal district court as required by the Stipulated Settlement Agreement in the lawsuit filed against the Bureau in May 2019 alleging wrongful delay in adopting...more

Manatt, Phelps & Phillips, LLP

Fair Lending: CFPB Agrees to Restart Women- and Minority-Owned Business Data Collection

In a settlement with a consumer advocacy group on a significant fair lending issue, the Consumer Financial Protection Bureau (CFPB) has agreed to restart long-stalled efforts to gather statutorily mandated data on lending to...more

Ballard Spahr LLP

CFPB and plaintiffs enter into settlement of lawsuit alleging wrongful delay in Section 1071 implementation

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The CFPB has entered into a settlement to resolve the lawsuit filed against it in May 2019 seeking a declaration that the CFPB’s failure to issue regulations implementing Section 1071 of the Dodd-Frank Act violates the...more

Ballard Spahr LLP

DOJ settles redlining lawsuit against First Merchants Bank

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The U.S. Department of Justice announced last Thursday that it had reached an agreement with First Merchants Bank, an Indiana state-chartered bank, to settle the redlining lawsuit that the DOJ filed against the bank on June...more

Goodwin

DOJ Settles With Minnesota Bank Over Redlining Allegations

Goodwin on

On May 8, the Department of Justice (“DOJ”) announced that it had reached a voluntary settlement with a family-owned Minnesota bank, resolving allegations that the bank had violated the Fair Housing Act, 42 U.S.C. §§ 3601 et...more

Ballard Spahr LLP

DOJ settles redlining lawsuit against KleinBank

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The U.S. Department of Justice announced earlier this week that it has reached an agreement with KleinBank, a state-chartered Minnesota bank, to settle the redlining lawsuit that the DOJ filed against the bank in January...more

Ballard Spahr LLP

Senate Judiciary Committee Chair seeks DOJ rescission of settlement payments to third parties

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Earlier this month, Attorney General Jeff Sessions issued a memorandum in which he prohibited DOJ attorneys from entering into settlement agreements on behalf of the United States that require a payment or loan to any...more

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