News & Analysis as of August 16, 2025

Financial Services Industry

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Disparate Impact Executive Order and HUD to Reconsider Disparate Impact Rule

Ballard Spahr LLP on 5/5/2025

President Trump recently signed an Executive Order entitled “Restoring Equality of Opportunity and Meritocracy“ to eliminate the use of disparate impact liability. The U.S. Department of Housing and Urban Development (HUD)...more

DOJ Settles Redlining Claim Against ESSA Bank

Ballard Spahr LLP on 6/16/2023

The Justice Department (DOJ) recently announced a settlement with ESSA Bank & Trust (ESSA), which has agreed to pay over $3 million to resolve allegations that it engaged in a pattern or practice of redlining in violation of...more

District Court grants summary judgment to bank in discriminatory lending suit

Orrick, Herrington & Sutcliffe LLP on 1/6/2023

On December 19, the U.S. District Court for the Northern District of Illinois granted summary judgment in favor of a national bank with respect to discriminatory lending allegations brought by the County of Cook in Illinois...more

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

Jenner & Block on 3/11/2022

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

Fannie Mae Agrees to Settle REO Discrimination Case

Bilzin Sumberg on 2/14/2022

Fannie Mae has reached a historic $53 million settlement with the National Fair Housing Alliance (“NFHA”) and local fair housing organizations throughout the U.S. to resolve racial discrimination claims concerning Fannie...more

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

Bilzin Sumberg on 10/5/2021

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

CFPB Bites of the Month - March Top 10

Hudson Cook, LLP on 4/2/2021

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

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

Ballard Spahr LLP on 7/21/2020

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

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

Ballard Spahr LLP on 8/31/2018

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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