News & Analysis as of

Fair Lending Disparate Impact Consumer Financial Products

Troutman Pepper Locke

In Response to President Trump’s Executive Order, the OCC Removes Disparate Impact References from Fair Lending Examination Manual

Troutman Pepper Locke on

On July 14, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2025-16, announcing the removal of references to disparate impact liability from the “Fair Lending” booklet of the Comptroller’s Handbook and...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

McGlinchey Stafford

CFPB prioritizes fair lending, machine learning, privacy in digital engagement

McGlinchey Stafford on

Members of the auto finance industry continue to have a strong appetite for developing their digital origination and servicing platforms. Much of the industry also has a desire to use data in novel and creative ways to...more

Jenner & Block

CFPB and other Federal Regulators Eye Regulation Aimed at Curbing Algorithmic Bias in Automated Home Valuations

Jenner & Block on

Late last month, the Consumer Financial Protection Bureau (CFPB) took another step toward adopting rules governing the use of artificial intelligence (AI) and algorithms in appraising home values. Specifically, the CFPB...more

Bilzin Sumberg

An Opportune Time For Financial Institutions to Review Their Fair Lending Procedures

Bilzin Sumberg on

At the beginning of his term, President Biden declared that his administration would make it a policy to eliminate “racial bias and other forms of discrimination in all states of home-buying and renting.”...more

Hudson Cook, LLP

State Regulator Pursues Disparate Impact in Auto Finance

Hudson Cook, LLP on

Players in the auto finance industry have been watching the Consumer Financial Protection Bureau ping-pong over the last several years regarding disparate impact theories under the Equal Credit Opportunity Act. The disparate...more

Hudson Cook, LLP

CFPB Bites of the Month - March Top 10

Hudson Cook, LLP on

Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider. In this month's article, we...more

Ballard Spahr LLP

CFPB 2019 fair lending report highlights alternative scoring models

Ballard Spahr LLP on

The CFPB’s annual fair lending report covering its 2018 activities was published in today’s Federal Register.  While most of the report recycles information about which we have previously blogged, it does contain the...more

Ballard Spahr LLP

CFPB Hints at Possible Disparate Impact Rulemaking in Fall Agenda

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) released its Fall 2018 rulemaking agenda last week, and it included a surprise for those interested in fair lending....more

Ballard Spahr LLP

State AGs urge Mulvaney to continue use of disparate impact theory of ECOA liability

Ballard Spahr LLP on

On September 5, 2018 a group of 14 state Attorneys General and the AG for the District of Columbia sent a comment letter to CFPB Acting Director Mick Mulvaney, urging him to refrain from “reexamining the requirements” of the...more

Ballard Spahr LLP

Will the NYDFS pick up the baton on disparate impact auto dealer pricing?

Ballard Spahr LLP on

If you’ve followed the status of the CFPB’s enforcement actions under the Equal Credit Opportunity Act related to auto dealer finance charge participation, you probably would have concluded that those cases are unlikely to...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Ballard Spahr LLP

President Trump signs joint resolution disapproving CFPB Bulletin concerning discretionary pricing by auto dealers

Ballard Spahr LLP on

Yesterday afternoon, President Trump signed into law S.J. Res. 57, the joint resolution under the Congressional Review Act (CRA) that disapproves the CFPB’s Bulletin 2013-2 regarding “Indirect Auto Lending and Compliance with...more

Ballard Spahr LLP

CFPB indirect auto finance bulletin determined to be a “rule” subject to Congressional review

Ballard Spahr LLP on

Congress may have now have the opportunity to disapprove by a simple majority vote the CFPB’s disparate impact theory of assignee liability for so-called dealer “markup” disparities as a result of a determination by the...more

Ballard Spahr LLP

Fair Lending Director Ficklin Discusses Small Business Lending, LGBT issues, LEP consumers and Inclusive Communities at ABA...

Ballard Spahr LLP on

Last Thursday, I had the pleasure of teaching a class on payments and banking products to new lawyers at the American Bar Association’s Consumer Financial Services Institute. I arrived early for the class and got to hear a...more

Ballard Spahr LLP

Auto Finance Company Agrees to Change Dealer Compensation Policy to Settle CFPB and DOJ Fair Lending Claims

Ballard Spahr LLP on

To resolve charges by the Consumer Federal Protection Bureau (CFPB) and the Department of Justice (DOJ) that it engaged in unlawful discrimination in violation of the Equal Credit Opportunity Act (ECOA), American Honda...more

16 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide