News & Analysis as of

Banking Sector Disparate Impact

Nutter McClennen & Fish LLP

Nutter Bank Report: July 2025

In the wake of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), the federal banking agencies have issued joint guidance to provide clarity on supervisory expectations for banks that...more

Vedder Price

OCC Ends Use of Disparate Impact in Fair Lending Supervision

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The Office of the Comptroller of the Currency (“OCC”) has formally revised its fair lending examination procedures, announcing in Bulletin 2025-16, issued on July 14, 2025, that it has eliminated all references to disparate...more

GeoDataVision

The Impact of Trump’s Executive Order Regarding Disparate Impact

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Just when you thought the flurry of executive orders pertaining to “deregulation” might have slowed down, the President signed, on April 23, 2025, Executive Order 14281, “Restoring Equality of Opportunity and Meritocracy.”...more

BCLP

Banking Bites - November 2022

BCLP on

Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more

Troutman Pepper Locke

NY Department of Financial Services Reaches Settlement With Bank Over Alleged Fair Lending Violations Involving Auto Dealer...

Troutman Pepper Locke on

On October 6, the New York State Department of Financial Services (NYDFS) announced a consent order with Rhinebeck Bank (Rhinebeck) to resolve allegations that, in violation of New York Executive Law Section 296-a, the bank...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2021

HUD, VA, and USDA Coordinate Extensions of COVID-19 Relief for Homeowners - The U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture...more

Nutter McClennen & Fish LLP

Nutter Bank Report: September 2020

Federal Court in New York Dismisses Claims Against PPP Lenders for Agent Fees - A federal court in New York has dismissed claims made in six class action lawsuits against several banks and other Small Business...more

Goodwin

SEC Stays Busy With Amendments And Extensions To Various Rules, Definitions And Disclosures

Goodwin on

In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more

Morrison & Foerster LLP

CFPB Seeks Input On Improving Access To Credit

On August 3, 2020, the Consumer Financial Protection Bureau (CFPB) published a Request for Information (RFI) that seeks comment on ways to clarify the Equal Credit Opportunity Act’s (ECOA) implementing regulation, Regulation...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2019

Federal Reserve Announces Plan for Real-Time Payment and Settlement Service - The Federal Reserve has announced that the Federal Reserve Banks will develop a new real-time gross settlement service with integrated clearing...more

K&L Gates LLP

American Bankers Association Weighs In With a Comment on HUD’s Disparate Impact Rule

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On behalf of the American Bankers Association and state bankers associations across the country, K&L Gates partner Paul F. Hancock and associate Olivia Kelman crafted a comment that was submitted to the U.S. Department of...more

Ballard Spahr LLP

CFPB indirect auto finance bulletin determined to be a “rule” subject to Congressional review

Ballard Spahr LLP on

Congress may have now have the opportunity to disapprove by a simple majority vote the CFPB’s disparate impact theory of assignee liability for so-called dealer “markup” disparities as a result of a determination by the...more

Ballard Spahr LLP

Republican members of House Financial Services Committee release new report on CFPB’s auto finance actions

Ballard Spahr LLP on

Republican members of the House Financial Services Committee recently released a report, prepared by the Republican Staff of the Committee, titled “Unsafe at Any Bureaucracy, Part III: The CFPB’s Vitiated Legal Case Against...more

Ballard Spahr LLP

HUD Fair Housing Guidance Raises ECOA Risk in Serving LEP Consumers

Ballard Spahr LLP on

New guidance issued by the U.S. Department of Housing and Urban Development (HUD) on Fair Housing Act (FHA) protections for persons with limited English proficiency (LEP) could have reverberations under the Equal Credit...more

Ballard Spahr LLP

Director Cordray defends CFPB positions in appearance before Senate Banking Committee; comments on small business lending and...

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Much of Director Cordray’s testimony in his appearance before the Senate Banking Committee yesterday consisted of his predictable defense of various CFPB positions. While the hearing was much less contentious than last...more

Baker Donelson

How the Current Regulatory and Legal Landscapes Can Lead to Fair Lending Violations

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The CFPB's website states, "Other regulators focus on the safety and soundness of the financial institutions first. The CFPB is the first to focus primarily on the American consumer." The CFPB's actions, however, may have the...more

Carlton Fields

EXPECT FOCUS: Onboard Technology, NAIC Cybersecurity, DOL, ACA Litigation, SEC Regulation (Vol. III, Summer 2015)

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In This Issue: IN THE SPOTLIGHT - - Your Data Breach Collided With My Personal Injury Coverage LIFE INSURANCE - - Phantom Injury Dooms “Shadow Insurance” Case - Latest NAIC Cybersecurity News ...more

Baker Donelson

Eleventh Circuit Further Widens the Reach of the Fair Housing Act

Baker Donelson on

The city of Miami brought an action against multiple lenders claiming their practices were discriminatory and in violation of the FHA, resulting in a disproportionate and excessive number of defaults and subsequent...more

Fisher Phillips

Beware Of The One-Two Punch Expected In The Fair Housing Law Arena

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The combination of a recent unfavorable Supreme Court decision along with dramatically increased federal funding for fair housing enforcement could spell bad news. Businesses that operate in the housing industry and those...more

Ballard Spahr LLP

ABA seeks supervisory and enforcement standards consistent with Inclusive Communities

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The American Bankers Association has sent a letter to the DOJ, Fed, OCC, FDIC, HUD and CFPB requesting confirmation “in interagency guidance, updated exam procedures, and where appropriate amended regulations that the...more

Polsinelli

Disparate Impact Remains Fair Lending Risk To Banks

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Lenders seeking judicial relief from the Consumer Financial Protection Bureau’s heightened enforcement of the Equal Credit Opportunity Act were left disappointed by the settlement of Mt. Holly v. Mt. Holly Gardens Citizens in...more

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