News & Analysis as of

Department of Justice (DOJ) Consumer Lenders Consent Order

Orrick, Herrington & Sutcliffe LLP

DOJ and bank settle allegations of discrimination in student loan refinancing

On January 19, DOJ and a community bank entered into a consent order to resolve allegations of discriminatory lending practices under the ECOA. DOJ asserted the bank’s student loan refinance program engaged in practices that...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - October 2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Hudson Cook, LLP

More SCRA Enforcement Activity by the Department of Justice

Hudson Cook, LLP on

The Servicemembers and Veterans Initiative at the U.S. Department of Justice continues. At the end of July, the DOJ entered into a consent order in a Texas case where a towing company sold active-duty servicemembers' cars...more

Goodwin

DOJ Settles SCRA Suit Against CA-Based Subprime Auto Lender

Goodwin on

On March 6, the U.S. Department of Justice (DOJ) announced that it had entered into a consent order with a California-based subprime auto lender and its affiliate. The order brings an end to a lawsuit filed by the DOJ in...more

Ballard Spahr LLP

Justice Dept. Obtains $80,000 Consent Order with California Auto Lender, Including Record Payment of $30,000 to One Individual...

Ballard Spahr LLP on

On March 6, 2019, a California subprime auto lender, California Auto Finance, agreed to enter into a consent order with the Justice Department related to allegations that it repossessed vehicles in violation of the...more

Goodwin

First Half of 2018 Sees Significant Decline in Publicly Announced or Publicly Filed Enforcement Activity

Goodwin on

During the first half of 2018, Enforcement Watch tracked 40 publicly announced or publicly filed enforcement actions involving consumer financial services companies. The 18 enforcement actions tracked during Q1 2018 represent...more

Ballard Spahr LLP

DOJ Settles Fair Lending Claims Based on Bank's Pricing Policy for Vehicle-Secured Loans

Ballard Spahr LLP on

The U.S. Department of Justice (DOJ) has announced a proposed consent order with Charter Bank to settle charges that the bank violated the Equal Credit Opportunity Act (ECOA) by discriminating on the basis of national origin...more

Goodwin

DOJ & OCC Enter Consent Order with National Bank Over Debt Collection from Servicemembers

Goodwin on

On September 29, the U.S. Department of Justice (DOJ) announced that it had entered into a consent order with a national bank over allegations that the bank had engaged in unlawful debt collection practices, in violation of...more

McGuireWoods LLP

Hudson City Savings Bank Reaches Largest Mortgage Redlining Settlement in DOJ History

McGuireWoods LLP on

The CFPB, DOJ, and Hudson City Savings Bank, F.S.B. (“Hudson City”) recently entered into the largest residential mortgage redlining settlement in DOJ history. On September 24, 2015, the parties filed a Joint Motion for Entry...more

Stinson LLP

CFPB and DOJ Take Action Against Fifth Third Bank

Stinson LLP on

On September 28, 2015, the Consumer Financial Protection Bureau (CFPB) announced two separate actions against Fifth Third Bank. The first action—brought only by the CFPB—relates to Fifth Third Bank’s marketing of credit card...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

Dorsey & Whitney LLP

Why Does the CFPB Want to Curb Auto Lenders’ Discretion to Charge Higher or Lower Interest Rates?

Dorsey & Whitney LLP on

On July 14, 2015, the Consumer Financial Protection Bureau (“CFPB”) and Department of Justice (“DOJ”) announced they had reached a “groundbreaking settlement” with American Honda Finance Corporation (“Honda”).(1) The...more

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