News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Civil Monetary Penalty Department of Justice (DOJ)

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses redlining case after asserting payments were made

On May 21, the CFPB and DOJ successfully filed a motion to dismiss with prejudice a case in the U.S. District Court for the Western District of Tennessee after noting the defendant paid its penalties. The dismissal ended a...more

Ballard Spahr LLP

Trustmark Redlining Consent Order Terminated

Ballard Spahr LLP on

A federal district court recently granted the unopposed motion of the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) to terminate their October 2021 consent order with Trustmark National Bank...more

Sheppard Mullin Richter & Hampton LLP

CFPB Brings String of Enforcement Actions to Round Out 2023

In December, the CFPB brought a series of three separate enforcement actions against several financial services companies alleging a range of violations of federal consumer protections laws....more

Hudson Cook, LLP

CFPB Bites of the Month - January 2023 - May Old Compliance Acquaintances be Forgot

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the January 18, 2023, webinar. Bite # 8: The CFPB Publishes Civil Penalty Inflation Adjustments Rule in Federal Register - ...more

Bradley Arant Boult Cummings LLP

CFPB, DOJ File Complaint Against Non-Bank Mortgage Lender for Deliberate Discrimination Against Minority Families

On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) and the United States Department of Justice (DOJ) filed a complaint in the United States District Court for the Eastern District of Pennsylvania against...more

King & Spalding

State Attorneys General Poised to Elevate Regulatory Scrutiny of Digital Asset Businesses

King & Spalding on

The Attorney General Alliance (“AGA”) recently issued a collaborative White Paper that signals heightened scrutiny of digital asset businesses by state Attorneys General in coming years. Recognizing that it is “no longer...more

Goodwin

SEC Adopts Rule Providing New Regulatory Framework For Fund-Of-Funds

Goodwin on

In the News. The Securities and Exchange Commission (SEC) announced that it adopted Rule 12d1-4 under the Investment Company Act of 1940 (the 1940 Act), providing a new regulatory framework for fund-of-funds and final...more

Ballard Spahr LLP

CFPB whistleblower alleges falsification of examination documents by CFPB

Ballard Spahr LLP on

A former CFPB examiner has written U.S. Attorney General Jeff Sessions claiming that CFPB officials falsified examination reports in connection with a CFPB examination of ACE Cash Express that led to the CFPB extracting $10...more

Maynard Nexsen

Redlining Action Against BancorpSouth: The Department of Justice and the Consumer Financial Protection Bureau Join Forces

Maynard Nexsen on

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

Goodwin

CFPB and DOJ Propose $10.6 Million Settlement in Discriminatory Lending Action

Goodwin on

On June 29, the Consumer Financial Protection Bureau (CPPB) and Department of Justice (DOJ) announced a joint enforcement action against a regional bank for alleged discriminatory mortgage lending in violation of the Equal...more

MoFo Reenforcement

One-Two Punch: CFPB Indirect Auto and Add-On Product Orders

MoFo Reenforcement on

The CFPB announced two new enforcement action settlements on September 28: one for alleged discriminatory auto loan pricing and the other for alleged deceptive credit card add-on product marketing practices....more

MoFo Reenforcement

CFPB Brings Long-Anticipated First Redlining Enforcement Action – New Approach to Redlining Analysis is put into Action

MoFo Reenforcement on

On September 24, 2015, the CFPB and DOJ announced a joint action against Hudson City Savings Bank for allegedly discriminatory redlining practices from 2009 through 2013 in certain neighborhoods in New York, New Jersey,...more

Stinson LLP

CFPB and DOJ Announce Joint Action Against Hudson City Savings Bank, F.S.B.

Stinson LLP on

On September 24, 2015, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) announced a joint action against Hudson City Savings Bank, F.S.B. (Hudson). The complaint alleges that Hudson...more

Morrison & Foerster LLP

Individual Liability: What’s Behind The Headlines?

It’s been open season on financial institutions since the 2008-2009 financial crisis (“Financial Crisis”). State and federal prosecutors and regulators are competing with each other for press coverage of their latest consent...more

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