News & Analysis as of

Discrimination › Financial Institutions

Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's... more +
Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's race, religion, gender, age, to name a few.  less -
Vinson & Elkins LLP

Illegal Debanking Under Scrutiny: New Task Force Signals DOJ Enforcement Shift

Vinson & Elkins LLP on

On April 28, 2025, the U.S. Attorney’s Office for the Eastern District of Virginia (“EDVA”) and the U.S. Department of Justice’s (“DOJ”) Civil Rights Division (“CRT”) announced the formation of the Eastern District of...more

Troutman Pepper Locke

Fifth Circuit Agrees to Dismiss CFPB’s UDAAP Examination Manual Appeal, Aligning with Bureau’s New Regulatory Priorities

Troutman Pepper Locke on

On May 1, the U.S. Court of Appeals for the Fifth Circuit dismissed the Consumer Financial Protection Bureau’s (CFPB or Bureau) appeal concerning the vacated amendments to its Unfair, Deceptive, or Abusive Acts and Practices...more

Bradley Arant Boult Cummings LLP

Idaho Joins the De-Banking Ban Wave

Bradley Arant Boult Cummings LLP on

Starting July 1, 2025, Idaho will subject financial institutions with total assets over a certain threshold to new restrictions under the Transparency in Financial Services Act. The law follows a growing trend among states...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Upholds Reverse Redlining Verdict Against Mortgage Lender

Sheppard Mullin Richter & Hampton LLP on

On February 14, a divided Second Circuit panel upheld a 2016 jury verdict which found that a mortgage lender violated, among other laws, the Equal Credit Opportunity Act (“ECOA”) by engaging in “reverse redlining” when it...more

Jackson Lewis P.C.

Ten State Attorneys General Launch Inquiry into Major Financial Institutions’ DEI & ESG Programs

Jackson Lewis P.C. on

The Attorneys General of ten states have issued a letter challenging the diversity, equity, and inclusion (DEI) and environmental, social, and governance (ESG) programs at six major financial institutions in the United...more

Barnea Jaffa Lande & Co.

Call For Public Comment: A Report on AI Use in the Financial Sector

Barnea Jaffa Lande & Co. on

This month, an interim report on artificial intelligence in the financial sector was published for public comment. The report was written by the Ministries of Justice and Treasury, the Competition Authority, the Securities...more

Kilpatrick

Byte-sized Justice: Colorado's New AI Bill Seeks to Address Algorithmic Discrimination

Kilpatrick on

General Background - On May 17, 2024, Governor Jared Polis of Colorado enacted the Colorado Artificial Intelligence (AI) Act (CAIA), marking a significant milestone as what its sponsor calls a “chassis,” an initial...more

Cadwalader, Wickersham & Taft LLP

Reliable Expectations May 2024 - Diversity in Fund Finance Boundary Breaker Speaker Series with Henry Tang

Cadwalader, Wickersham & Taft LLP on

The US Diversity in Fund Finance Committee of the Fund Finance Association held the latest event in their Boundary Breaker speaker series this week. The event, co-sponsored by Haynes Boone and Standard Chartered, was a great...more

Cadwalader, Wickersham & Taft LLP

Rooting Out Discrimination In Real Estate Valuation and Appraisal

Cadwalader, Wickersham & Taft LLP on

The Federal Financial Institutions Examination Council (“FFIEC”) published a statement on February 12, 2024 regarding “principles for the examination of supervised [institutions’] residential property appraisal and...more

Husch Blackwell LLP

FFIEC Issues Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending

Husch Blackwell LLP on

On February 12, 2024, the Federal Financial Institutions Examination Council (FFIEC) issued a statement of principles that relate to valuation discrimination and bias for its member entities to consider in preparation for...more

Orrick, Herrington & Sutcliffe LLP

FFIEC releases statement on examination principles related to discrimination and bias in residential lending

Orrick, Herrington & Sutcliffe LLP on

On February 12, the Federal Financial Institutions Examinations Council (FFIEC) released a statement on “Examination Principles Related to Valuation Discrimination and Bias in Residential Lending.” The statement outlined...more

Ballard Spahr LLP

FFIEC Issues Examination Principles Statement Regarding Valuation Bias

Ballard Spahr LLP on

The Federal Financial Institutions Examination Council (FFIEC) recently issued a statement of principles related to valuation discrimination and bias for member entities to consider in their consumer compliance and safety and...more

Cadwalader, Wickersham & Taft LLP

Financial Services and the Biden Artificial Intelligence Executive Order

Cadwalader, Wickersham & Taft LLP on

On October 30, 2023, the White House announced that President Biden had issued an Executive Order regarding artificial intelligence (“AI”). The Executive Order was accompanied by a Fact Sheet summarizing the eight policy...more

Akin Gump Strauss Hauer & Feld LLP

FCA and PRA Publish Consultation on New Rules Relating to Diversity and Inclusion

Akin Gump Strauss Hauer & Feld LLP on

Key Points - -Following a joint Discussion Paper in 2021 issued by the UK Financial Conduct Authority (FCA) and the UK Prudential Regulation Authority (PRA), both regulators have now issued Consultation Papers proposing new...more

Alston & Bird

Affirmative Action in Lending: The Implications of the Harvard Decision on Financial Institutions

Alston & Bird on

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

Troutman Pepper Locke

Federal Regulators Urge The Appraisal Foundation to Revise Uniform Standards to Explicitly Prohibit Discrimination

Troutman Pepper Locke on

On February 14, Patrice Ficklin, the Fair Lending Director for the Consumer Financial Protection Bureau (CFPB), together with senior officials from the Federal Reserve Board, Office of the Comptroller of the Currency, Federal...more

Buchalter

Court Rules That CFPB Fair Lending Enforcement Authority Does Not Extend to Prospective Loan Applicants

Buchalter on

According to a Chicago federal district court, the Equal Credit Opportunity Act’s loan discrimination provisions to not extend to alleged discrimination against prospective applicants. Relying on the express language of the...more

Cadwalader, Wickersham & Taft LLP

Vice Chair Barr Speaks on Financial Inclusion

Cadwalader, Wickersham & Taft LLP on

Federal Reserve Board (“FRB”) Vice Chair of Supervision Michael Barr gave remarks to the Banking on Financial Inclusion Conference at Jackson State University early this week....more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - V 4, Issue 1, January 2023

Spilman Thomas & Battle, PLLC on

Big Boosts to Cybersecurity and Tech Funding in $1.7T Omnibus Bill Signed by Biden - “The bipartisan fiscal 2023 omnibus spending agreement includes $2.9 billion for the Cybersecurity and Infrastructure Security Agency, a...more

Sheppard Mullin Richter & Hampton LLP

Industry Groups to CFPB: Take Back UDAAP Anti-Discrimination Policy

Sheppard Mullin Richter & Hampton LLP on

On June 28, the American Bankers Association, Consumer Bankers Association, Independent Community Bankers of America, and the U.S. Chamber of Commerce affirmed in a letter to CFPB Director Rohit Chopra that the CFPB should...more

Nelson Mullins Riley & Scarborough LLP

CFPB Director Kraninger Signals More Enforcement Coming This Year

Nelson Mullins Riley & Scarborough LLP on

CFPB Director Kathleen L. Kraninger appeared Before the Senate Committee on Banking, Housing, and Urban Affairs on July 29 to deliver the Bureau’s most recent Semi-Annual Report to Congress. This report was particularly...more

Ballard Spahr LLP

Federal Reserve warns about redlining and steering risks from digital targeted advertising

Ballard Spahr LLP on

One of the most important areas of consumer financial regulation today is the use of internet- or social media-based platforms to target advertising for consumer financial products. ...more

Foley & Lardner LLP

Senate Votes to Roll Back Auto Industry Lending Guidance from Consumer Financial Protection Bureau

Foley & Lardner LLP on

On April 18, the Senate narrowly passed a resolution to roll back certain guidance issued by the Consumer Financial Protection Bureau in 2013 pertaining to auto lending. As previously written about on a Foley & Lardner LLP...more

Davis Wright Tremaine LLP

Discrimination and Algorithms in Financial Services: Unintended Consequences of AI

Davis Wright Tremaine LLP on

It’s troubling enough when facial recognition software couldn’t recognize Asian faces, the crime prediction algorithm targeted black neighborhoods, the job bank was more likely to show men highly paid executive jobs, and the...more

Goodwin

OCC Provides Guidance for Downgrading Banks’ CRA Ratings

Goodwin on

On October 12, 2017, the OCC published the section of its policy and procedures manual, PPM 5000-43, entitled “Impact of Evidence of Discrimination or Other Illegal Credit Practices on Community Reinvestment Act Ratings.” The...more

46 Results
 / 
View per page
Page: of 2
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide