Redlining Enforcement: Past and Future — The Consumer Finance Podcast
The Community Reinvestment Act mandates that a bank meets the credit needs of the communities which it serves as delineated by its CRA assessment areas. The regulation has a simple test to address that issue. It's called the...more
Welcome to 2026! As we begin another year in the fast-evolving world of consumer financial services regulation, we're here with our annual roadmap of key compliance dates to help you plan ahead. Whether you're in mortgage...more
On January 12, the CFPB received a petition from a nonprofit law firm urging the Bureau to rescind Regulation C, 12 C.F.R. § 1003, and Appendix B to Part 1003. ...more
Last week, the New York State Department of Financial Services (DFS) announced a new regulation designed to ensure that licensed nonbank mortgage bankers in New York (“mortgage lenders”) meet the needs of the communities they...more
On January 7, the NYDFS finalized a rule amending its banking regulations to implement New York’s state Community Reinvestment Act requirements for certain nonbank mortgage lenders. The rule requires DFS to review how covered...more
In 2025, we wrote how Democrat state attorneys general opposed CFPB’s ANPRs reducing CFPB oversight, a bipartisan group of AGs urged the CFPB to distribute consumer refunds, and a Democratic group of AGs filed an amicus brief...more
In this article, we share a timeline of monthly "bites" for the past year applicable to Mortgage....more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week. Federal Activities: On...more
On January 1, the CFPB launched its HMDA data platform webpage, enabling financial institutions to upload their loan/application registers, review edits, certify their data, and submit their 2025 HMDA data....more
On January 7, the CFPB amended the official commentary to Regulation Z (which implements TILA) and Regulation C (which implements the HMDA) by updating the asset-size exemption thresholds for financial institutions. These...more
In this episode of The Consumer Finance Podcast, host Chris Willis is joined by Troutman Pepper Locke Partner Lori Sommerfield and Relman Colfax Co-Managing Partner Stephen Hayes for a candid discussion about how redlining...more
The CFPB recently issued a final rule increasing the asset exemption threshold under the Home Mortgage Disclosure Act (HMDA). Banks, savings associations and credit unions are not subject to the mortgage loan data...more
On September 22, 2025, the CFPB terminated two consent orders, one involving a national bank and the other involving a mortgage servicer. The orders were originally issued under prior administrations and alleged violations of...more
Recently, the CFPB terminated four consent orders against two banks each after finding the banks fulfilled their obligations. The CFPB also terminated one consent order against a lender. ...more
If they did here's one way to handle it - Under the Biden Administration the prudential bank regulators and the Department of Justice initiated a program of aggressive enforcement against redlining by lenders of all types....more
Banks play a pivotal role in the economic wellbeing of our nation and local communities. Banks do this by being “financial intermediaries” facilitating the flow of funds between savers and borrowers. This obligation is so...more
In this month's article, we share some of our top "bites" covered during the April 2025 webinar....more
The CFPB has announced that Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2024 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for...more
On March 31, the CFPB announced it published the 2024 HMDA Modified Loan Application Register data on the FFIEC’s HMDA Platform. The data, sourced from nearly 5,000 HMDA filers, included loan-level information to assess...more
On January 31, the FDIC released a list of 18 administrative enforcement actions taken against banks and individuals in December 2024. The public orders comprised 14 stipulated orders and written agreements (and one...more
The CFPB recently issued a final rule increasing the asset exemption threshold under the Home Mortgage Disclosure Act (HMDA)....more
On December 13, the CFPB published a report based on HMDA data collected from financial institutions, highlighting trends and changes in 2023 residential mortgage lending. Based on the HMDA data, the CFPB observed a decline...more
The CFPB recently announced that the Filing Instruction Guide (FIG) for the submission of Home Mortgage Disclosure Act (HMDA) data collected in 2025 is now available. The FIG, issued by the Federal Financial Institutions...more
Last year, I wrote a commentary entitled Contagion. That commentary was inspired by the early days of the meltdown of the crypto currency market (long before SBF made the whole space way more notorious with a whiff of...more
In this month's article, we share some of our top "bites" for the prior and current month covered during the July 2024 webinar....more