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Equal Credit Opportunity Act Appeals Mortgage Lenders

Sheppard Mullin Richter & Hampton LLP

CFPB Moves to Vacate ECOA Settlement Against Illinois-based Mortgage Lender

On March 26, the CFPB filed a motion to vacate its recent settlement against an Illinois-based mortgage lender accused of engaging in discriminatory marketing practices in violation of the Equal Credit Opportunity Act (ECOA)...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Upholds Reverse Redlining Verdict Against Mortgage Lender

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 Wins Big Reversal in Illinois Redlining Lawsuit

On July 11, the Seventh Circuit Court of Appeals reversed a lower court’s decision dismissing a CFPB action against an Illinois-based mortgage lender and its owner for violations of the Equal Credit Opportunity Act....more

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