News & Analysis as of

Enforcement Actions Race Discrimination Consumer Lenders

Troutman Pepper Locke

New Jersey Division on Civil Rights Issues Finding of Probable Cause Against Consumer Financial Services Company for...

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On March 11, New Jersey Attorney General (AG) Matthew Platkin and the New Jersey Division on Civil Rights (DCR) announced that DCR issued a finding of probable cause against Advance Funding Partners/Same Day Funding (Advance...more

Goodwin

2023 Year in Review: Auto Loan Origination and Servicing

Goodwin on

Welcome to the Auto Loan Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - We anticipate that the CFPB will continue its attempts to combat...more

Ballard Spahr LLP

CFPB files brief with Seventh Circuit in appeal from district court ruling In Townstone Mortgage that ECOA only applies to...

Ballard Spahr LLP on

The CFPB has filed its opening brief in its appeal to the U.S. Court of Appeals for the Seventh Circuit from the district court’s decision in the CFPB’s enforcement action against Townstone Mortgage (Townstone).  In the case,...more

Ballard Spahr LLP

Connecticut bank sued for alleged discriminatory mortgage lending

Ballard Spahr LLP on

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

McGuireWoods LLP

Hudson City Savings Bank Reaches Largest Mortgage Redlining Settlement in DOJ History

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The CFPB, DOJ, and Hudson City Savings Bank, F.S.B. (“Hudson City”) recently entered into the largest residential mortgage redlining settlement in DOJ history. On September 24, 2015, the parties filed a Joint Motion for Entry...more

Stinson LLP

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

Stinson LLP on

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

Dorsey & Whitney LLP

Why Does the CFPB Want to Curb Auto Lenders’ Discretion to Charge Higher or Lower Interest Rates?

Dorsey & Whitney LLP on

On July 14, 2015, the Consumer Financial Protection Bureau (“CFPB”) and Department of Justice (“DOJ”) announced they had reached a “groundbreaking settlement” with American Honda Finance Corporation (“Honda”).(1) The...more

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