News & Analysis as of

Equal Credit Opportunity Act Equal Access to Credit Consumer Financial Protection Bureau (CFPB)

Ballard Spahr LLP

Community Groups File Lawsuit Seeking to Force CFPB to Implement the Section 1071 Rule

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The saga of the CFPB’s section 1071 small business data collection and reporting rule continues. Rise Economy, fka California Reinvestment Coalition (Rise), the National Reinvestment Coalition (NCRC), the Main Street Alliance...more

Ballard Spahr LLP

CFPB speaks to ECOA and small business lending rule coverage of franchise financing

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The CFPB has published a document on its website that “communicates the extent to which the Equal Credit Opportunity Act (ECOA) and its implementing Regulation B apply with respect to franchises seeking credit to finance...more

Hudson Cook, LLP

Equality in Credit Decisions - Does "Sex" include Sexual Orientation and Gender Identity?

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In June of this year, the United States Supreme Court held that an employer who fires an employee for being gay or transgender violates the Civil Rights Act of 1964 ("Title VII"). Title VII prohibits employers from refusing...more

Ballard Spahr LLP

CFPB Files First Ever Redlining Complaint Against a Non-Bank Mortgage Lender

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On July 15, 2020, the CPFB filed a complaint in federal court against Townestone Financial, Inc. (Townestone) representing the first ever redlining complaint against a non-bank mortgage lender. ...more

Williams Mullen

State AGs and Regulators Step Up UDAAP Enforcement

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Dodd-Frank created the Consumer Financial Protection Bureau (“CFPB”) and granted that federal agency significant powers to regulate financial institutions. But Dodd-Frank also empowers state regulators to enforce the new...more

Ballard Spahr LLP

Mortgage Banking Update - Febuary 06, 2013

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In This Issue: - Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit - Industry Employers Should Prepare Now for Health Care Reform - Title...more

Ballard Spahr LLP

Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit

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The U.S. Department of Justice (DOJ) has reached a settlement with Community Bank of St. Charles, Michigan, in a federal lending discrimination lawsuit filed by DOJ against the bank....more

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