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Discriminatory Lending Practices Fair Housing Act (FHA) Consumer Financial Products

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Federal Judge rejects request to release ESSA Bank from redlining settlement

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A federal judge has rejected the Trump Administration’s request to release from court supervision a bank that had been accused of discriminatory lending....more

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More Early Terminations of Redlining Consent Orders

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As previously reported, based on an unopposed motion submitted by the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) the October 2021 redlining consent order with Trustmark National Bank was...more

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DOJ Seeks Early Termination of Lakeland Bank Redlining Consent Order

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The U.S. Department of Justice (DOJ) has filed a motion with a federal district court to terminate early the September 2022 consent order with Lakeland Bank (Lakeland) that settled allegations of redlining under the Fair...more

Troutman Pepper Locke

DOJ Reaches Historic Multi-Million Dollar Redlining Settlement With Citadel Federal Credit Union

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On October 10, the U.S. Department of Justice (DOJ) announced a landmark redlining settlement with Citadel Federal Credit Union (Citadel), marking the first such agreement with a credit union in the DOJ’s history. This...more

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Citadel FCU is first credit union to settle DOJ redlining complaint

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The Justice Department announced that Citadel Federal Credit Union has agreed to pay more than $6.5 million to resolve allegations that it engaged in a pattern or practice of redlining majority-Black and Hispanic...more

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Judge refuses to dismiss most reverse discrimination counts in case against Colony Ridge

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Saying that reverse redlining is a form of discrimination, the U.S. District Court for the Southern District of Texas has refused to dismiss a discrimination case alleging that Texas developer Colony Ridge specifically...more

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7th Circuit Holds ECOA Protections Apply to Prospective Applicants

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In a major win for the CFPB, in CFPB v. Townstone Financial, a panel of the U.S. Court of Appeals for the Seventh Circuit (7th Circuit) recently held that the Regulation B provision prohibiting discrimination under the Equal...more

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DOJ Redlining Consent Order With Ameris Bank

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Recently the U.S. Department of Justice (DOJ) entered into a proposed consent order with Ameris Bank to resolve allegations of redlining from 2016 through 2021 in majority Black and Hispanic areas in the Bank’s Jacksonville,...more

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DOJ Settles Redlining Claims in Rhode Island

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The Department of Justice (DOJ) announced a settlement agreement with Washington Trust Company, of Westerly (WTC) to resolve claims that WTC redlined majority Black and Hispanic neighborhoods in Rhode Island....more

Cadwalader, Wickersham & Taft LLP

Vice Chair Barr Speaks on Fair Lending in Age of AI

Michael Barr, the Federal Reserve Board’s (“FRB”) Vice Chair for Supervision, delivered remarks, titled “Furthering the Vision of the Fair Housing Act,“ to the National Fair Housing Alliance 2023 National Conference earlier...more

Orrick, Herrington & Sutcliffe LLP

HUD restores 2013 discriminatory effects rule

On March 17, HUD announced the submission of a final rule—Reinstatement of HUD’s Discriminatory Effects Standard—which would rescind the agency’s 2020 regulation governing Fair Housing Act (FHA or the Act) disparate impact...more

Orrick, Herrington & Sutcliffe LLP

Agencies reiterate illegality of appraisal discrimination

On February 14, CFPB Fair Lending Director Patrice Ficklin joined senior leaders from the FDIC, HUD, NCUA, Federal Reserve Board, DOJ, OCC, and FHFA in submitting a joint letter to The Appraisal Foundation (TAF) urging the...more

King & Spalding

The Implications of a Revived Disparate Impact Doctrine Under a Biden CFPB

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Every change in presidential administration results in shifts to agencies’ policy priorities and enforcement efforts. In a Biden Administration, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”), in particular,...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 4, August 2020

Welcome! Welcome to August’s issue of All Consuming. This month, we are taking a deep dive into discharges in bankruptcy and then reviewing several top news stories in the world of consumer finance. We hope you find value...more

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DOJ settles redlining lawsuit against First Merchants Bank

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The U.S. Department of Justice announced last Thursday that it had reached an agreement with First Merchants Bank, an Indiana state-chartered bank, to settle the redlining lawsuit that the DOJ filed against the bank on June...more

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Connecticut bank sued for alleged discriminatory mortgage lending

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Last week, the Connecticut Fair Housing Center, Inc. filed a complaint against Liberty Bank in Connecticut federal district court alleging that the Bank engaged in discriminatory mortgage lending in violation of the federal...more

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Industry trade groups urge HUD to make significant changes to its disparate impact rule; state attorneys general oppose changes

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The American Bankers Association jointly with state bankers associations, the American Financial Services Association, and the Mortgage Bankers Association are urging the U.S. Department of Housing and Urban Development (HUD)...more

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DOJ settles redlining lawsuit against KleinBank

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The U.S. Department of Justice announced earlier this week that it has reached an agreement with KleinBank, a state-chartered Minnesota bank, to settle the redlining lawsuit that the DOJ filed against the bank in January...more

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S.2155 Does Not Facilitate Discriminatory Lending

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In a blog post entitled “How S.2155 (the Bank Lobbyist Act) Facilitates Discriminatory Lending” Professor Adam Levitin claimed that “This bill functionally exempts 85% of US banks and credit unions from fair lending laws in...more

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DOJ Files Redlining Lawsuit Against KleinBank

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The U.S. Department of Justice (DOJ) recently commenced a redlining lawsuit against KleinBank, a state-chartered Minnesota bank subject to the regulatory authority of the Federal Deposit Insurance Corporation (FDIC). The...more

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

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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

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CFPB and DOJ Settle Fair Lending Claims Involving Allegations of Redlining, Discretionary Underwriting and Pricing, and Overt...

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The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the...more

Stinson LLP

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

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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

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