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Discrimination › Race Discrimination › Mortgage Lenders

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 -
Goodwin

Judge Denies Joint Motion to Vacate CFPB Settlement with a Chicago-Based Non-Bank Lender

Goodwin on

An Illinois federal district court judge presiding over a revived redlining case denied a joint motion to vacate a 2024 voluntary settlement between the Consumer Financial Protection Bureau (CFPB) and a Chicago-based non-bank...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Upholds Reverse Redlining Verdict Against Mortgage Lender

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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

Sheppard Mullin Richter & Hampton LLP

CFPB Takes Action Against Illinois Mortgage Lender for Redlining Violations

Sheppard Mullin Richter & Hampton LLP on

On January 17, 2025, the CFPB filed a complaint against an Illinois-based non-depository mortgage lender for allegedly engaging in discriminatory practices. The CFPB alleges the lender engaged in improper redlining by...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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On the heels of Deutsche Bank’s $7.2 billion deal, Credit Suisse has finalized the terms of its own MBS-related settlement. The Swiss bank will pay $5.3 billion to resolve claims that it misled investors about the standards...more

Ballard Spahr LLP

CFPB and DOJ settle fair lending claims involving allegations of redlining, discretionary underwriting and pricing, and overt...

Ballard Spahr LLP on

The CFPB and DOJ recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the Fair Housing Act and the Equal Credit Opportunity Act....more

Ballard Spahr LLP

CFPB and DOJ announce redlining settlement

Ballard Spahr LLP on

Consistent with recent indications from CFPB and Department of Justice officials that more redlining cases would soon be coming, the CFPB and DOJ have announced a proposed consent order with Hudson City Savings Bank to settle...more

Baker Donelson

Eleventh Circuit Further Widens the Reach of the Fair Housing Act

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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

Williams Mullen

Supreme Court Upholds Disparate Impact: What are the Practical Consequences for Mortgage Lenders?

Williams Mullen on

The Supreme Court has held that disparate impact claims are valid under the federal Fair Housing Act (the “FHA”). In essence, this means that liability under the FHA can be proven by showing discriminatory effects of...more

Carlton Fields

CFPB and DOJ File Action Against Provident Funding Alleging Discriminatory Lending Policies and Practices

Carlton Fields on

Last week, the Consumer Financial Protection Bureau (CFPB, or “Bureau”), together with the Department of Justice (DOJ), filed an enforcement action against Provident Funding Associates, L.P. (Provident), the second-largest...more

McGuireWoods LLP

CFPB, DOJ Join in Fair Lending Enforcement Action Against Provident

McGuireWoods LLP on

On Thursday, the CFPB and the Department of Justice (DOJ) filed a joint complaint against the second-largest private mortgage company in the United States alleging it engaged in discriminatory lending practices from 2006 to...more

Bilzin Sumberg

CFPB, DOJ Show Renewed Interest in Pursuing “Redlining” Cases

Bilzin Sumberg on

Evidence is mounting that the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) are taking a renewed interest in investigating possible redlining—the practice of lenders charging certain groups...more

Partridge Snow & Hahn LLP

U.S. Supreme Court Agrees to Resolve Whether the FHA Provides for Disparate Impact Liability.

Partridge Snow & Hahn LLP on

A major change to federal law governing mortgage lending may be on the horizon. On October 2, 2014, the United States Supreme Court agreed to decide whether the Fair Housing Act (“FHA”) not only imposes liability for...more

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