On April 23, 2025, President Trump signed an Executive Order entitled “Restoring Equality of Opportunity and Meritocracy,” which seeks to “eliminate the use of disparate-impact liability in all contexts to the maximum degree...more
For the last several years, federal agencies, including the Consumer Financial Protection Bureau (“CFPB”), have been strongly encouraging financial institutions to implement and offer targeted credit assistance to...more
2/5/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Diversity and Inclusion Standards (D&I) ,
ECOA ,
Executive Orders ,
Fair Housing Act (FHA) ,
Fair Lending ,
Redlining ,
Regulation B ,
Special Purpose Credit Programs ,
Trump Administration
What Happened? The lender and consumers reached a settlement in an appraisal bias case, Nathan Connolly and Shani Mott v. Shane Lanham, 20/20 Valuations, LLC, and loanDepot.com, LLC, filed in Maryland District Court, that...more
4/26/2024
/ Appraisal ,
Bias ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Fair Housing Act (FHA) ,
Fair Valuation ,
Lenders ,
Loan Applications ,
Mortgage Lenders ,
Mortgages ,
Settlement
The U.S. Supreme Court ruling ending race-based admissions at colleges and universities could have a ripple effect on unrelated fields. Our Financial Services & Products Group explores how the Harvard decision could change...more
10/11/2023
/ Affirmative Action ,
Banking Sector ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Discrimination ,
Financial Institutions ,
Financial Services Industry ,
Lenders ,
Loans ,
Minorities ,
Mortgage Lenders
A&B Abstract: On July 27, 2022, the Consumer Financial Protection Bureau (“CFPB”) and the US Department of Justice (“DOJ”) entered into a settlement with Trident Mortgage Company (“Trident”), resolving allegations under the...more