Late last year, the Department of Justice (“DOJ”) and the Consumer Financial Protection Bureau (“CFPB”) brought a joint action against Hudson City Savings Bank (“Hudson Bank”) for redlining. Hudson Bank, based in New Jersey,...more
9/19/2016
/ Civil Monetary Penalty ,
Civil Rights Act ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
ECOA ,
Federal Housing Administration (FHA) ,
Minorities ,
Mortgage Lenders ,
Mortgages ,
Redlining
In this post, we’re going to examine the subject of redlining in the context of residential mortgage loans. We’re then going to turn our attention to the recent joint action by the Consumer Financial Protection Bureau...more
Let’s revisit the Flagstar Bank case which I touched on in my November 20, 2014 posting. This is an important case for a number of reasons, most notably because it was the CFPB’s first enforcement action under the CFPB’s new...more
1/9/2015
/ Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Fair Housing Act (FHA) ,
Flagstar Bank ,
Fraud ,
HUD ,
Loan Modifications ,
Loss Mitigation ,
Mortgage Servicers ,
Mortgage Servicing Rules