On July 14, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2025-16, announcing the removal of references to disparate impact liability from the “Fair Lending” booklet of the Comptroller’s Handbook and...more
7/16/2025
/ Anti-Discrimination Policies ,
Banks ,
Borrowers ,
Consumer Financial Products ,
Deregulation ,
Discriminatory Lending Practices ,
Disparate Impact ,
Equal Access to Credit ,
Executive Orders ,
Fair Lending ,
Financial Regulatory Reform ,
Financial Services Industry ,
Handbooks ,
Lenders ,
OCC ,
Regulatory Authority ,
Regulatory Requirements ,
Trump Administration
New York City Comptroller Brad Lander released a report titled “Standing Up for New York Consumers – How New York State and New York City can Strengthen Consumer Financial Protection in the Trump Era,” which called for the...more
7/7/2025
/ Banking Sector ,
Comptroller ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Financial Regulatory Reform ,
Financial Services Industry ,
New York ,
Non-Bank Lenders ,
Proposed Legislation ,
Regulatory Reform ,
State and Local Government ,
Trump Administration
One of many provisions in the “One Big Beautiful Bill Act,” passed by the U.S. House of Representatives, would place a 10-year “temporary pause” on states’ ability to regulate artificial intelligence (AI). Initially called a...more
6/26/2025
/ Artificial Intelligence ,
Automated Decision Systems (ADS) ,
Enforcement Authority ,
Federal Budget ,
Federal Funding ,
Innovative Technology ,
New Regulations ,
Preemption ,
Proposed Legislation ,
Regulatory Oversight ,
Regulatory Reform ,
State Attorneys General ,
State Privacy Laws ,
Trump Administration
On June 12, the U.S. District Court for the Northern District of Illinois denied the joint motion by the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. to vacate the Stipulated Final...more
6/17/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
ECOA ,
Enforcement Actions ,
Financial Services Industry ,
First Amendment ,
Judicial Authority ,
Mortgage Lenders ,
Redlining ,
Regulation B ,
Settlement ,
Trump Administration ,
Vacated
President Donald J. Trump issued an executive order titled “Restoring Equality of Opportunity and Meritocracy.” This order aims to eliminate the use of disparate impact liability in all contexts, emphasizing the importance of...more
4/25/2025
/ Civil Rights Act ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Deregulation ,
Disparate Impact ,
Employment Discrimination ,
Equal Employment Opportunity Commission (EEOC) ,
Executive Orders ,
Financial Services Industry ,
Labor Reform ,
Popular ,
Title VII ,
Trump Administration
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Locke colleagues Lori Sommerfield and Lane Page to dissect two unexpected fair lending developments under the new Trump...more
In a surprising turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. (Townstone) have jointly moved to vacate the Stipulated Final Judgment and Order previously entered in...more
3/28/2025
/ Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Discriminatory Lending Practices ,
ECOA ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
First Amendment ,
Redlining ,
Regulatory Reform ,
Settlement Agreements ,
Stipulated Judgment ,
Trump Administration ,
Vacated
In a significant policy shift under the Trump administration, the new Federal Housing Finance Agency (FHFA) Director Bill Pulte issued an order on March 25, 2025 terminating special purpose credit programs (SPCPs) supported...more
3/28/2025
/ Banks ,
Consumer Financial Products ,
ECOA ,
Equal Access to Credit ,
Fair Housing Act (FHA) ,
Fannie Mae ,
FHFA ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Freddie Mac ,
GSE ,
Housing Market ,
HUD ,
Lenders ,
Mortgages ,
Regulatory Reform ,
Regulatory Requirements ,
Trump Administration