Mortgages, Fair Lending, Consumer Financial Protection Bureau (CFPB)

Why Does the CFPB Disguise Important Mortgage Data?

GeoDataVision on 5/29/2025

Banks play a pivotal role in the economic wellbeing of our nation and local communities. Banks do this by being “financial intermediaries” facilitating the flow of funds between savers and borrowers. This obligation is so...more

CFPB Announces 2025 Supervision and Enforcement Priorities

Troutman Pepper Locke on 4/18/2025

This week, the Consumer Financial Protection Bureau (CFPB or Bureau) released a memo to staff outlining its new supervision and enforcement priorities for 2025....more

CFPB rescinds enforcement, supervisory priority documents, outlines new priorities for 2025

Ballard Spahr LLP on 4/18/2025

The CFPB is rescinding its existing enforcement and supervision priority documents, according to a memo sent to bureau staff by CFPB Chief Legal Officer Mark Paoletta....more

CFPB seeks to vacate redlining settlement and refund civil money penalty to firm

Orrick, Herrington & Sutcliffe LLP on 3/28/2025

On March 26, the CFPB, in its first press release in over 50 days, announced its intention to seek to vacate a redlining settlement previously imposed on a nonbank retail-mortgage creditor and broker based in Chicago. As...more

2024 Year in Review: Mortgage Origination and Servicing

Goodwin on 3/14/2025

With the change in administration, enforcement actions at the federal level are expected to decrease, reflecting President Trump’s focus on deregulation. Indeed, during President Trump’s first term, the number of enforcement...more

CFPB seeks approval of Townstone Financial order

Ballard Spahr LLP on 11/7/2024

Following lengthy litigation, the CFPB is attempting to close the books on its case against Townstone Financial alleging discriminatory lending practices and redlining African American neighborhoods in Chicago....more

Redlining Isn’t What it Used To Be

GeoDataVision on 8/12/2024

In a recent podcast, Len and Dean discuss the June 10 article "Manufacturing Fair Lending" from National Mortgage Professional, which delves into the "Modern Theory of Redlining" introduced by bank regulators after AG...more

CFPB Bites of the Month - July 2024 - The CFPB Shines Like the 4th of July

Hudson Cook, LLP on 7/30/2024

In this month's article, we share some of our top "bites" for the prior and current month covered during the July 2024 webinar....more

Consumer Financial Protection Bureau v. Townstone Financial, Inc.

McGuireWoods LLP on 7/23/2024

On July 11, 2024, the U.S. Court of Appeals for the Seventh Circuit held in Consumer Financial Protection Bureau v. Townstone Financial, Inc. that the Equal Credit Opportunity Act (“ECOA”) protects prospective applicants and...more

Federal Regulators Continue their Focus on Fair Lending and Appraisal Bias

Venable LLP on 3/6/2024

As 2024 gets off the ground, federal regulators are continuing their focus on fair lending issues. In February, the Federal Financial Institutions Examination Council (FFIEC) released a statement on examination principles...more

CFPB Language Access Plan for Consumers with Limited English Proficiency

Ballard Spahr LLP on 11/30/2023

Throughout the past few years, the CFPB has sought input from a range of stakeholders, including community-based organizations and financial institutions, for feedback about how it can improve consumer financial products and...more

CFPB Publishes New Report on State Community Reinvestment Laws

Sheppard Mullin Richter & Hampton LLP on 11/10/2023

On November 2, the CFPB issued a new report on state Community Reinvestment Act laws. The report found that many states adopted Community Reinvestment Acts (CRAs) similar to the federal Community Reinvestment Act of 1977. The...more

DOJ Redlining Consent Order With Ameris Bank

Ballard Spahr LLP on 10/30/2023

Recently the U.S. Department of Justice (DOJ) entered into a proposed consent order with Ameris Bank to resolve allegations of redlining from 2016 through 2021 in majority Black and Hispanic areas in the Bank’s Jacksonville,...more

Attorney General Merrick Garland Remarks on the DOJ’s Success in Combating Redlining

Ballard Spahr LLP on 10/30/2023

On October 19, 2023, the Department of Justice (DOJ) announced that its Combating Redlining Initiative has resulted in over $107 million in relief for communities adversely affected by lending discrimination by mortgage...more

Trade Associations File Amici Brief Supporting Townstone Financial’s Position on ECOA Scope

Ballard Spahr LLP on 8/25/2023

The Mortgage Bankers Association and Housing Policy Council (the “Associations”) recently filed an Amici Curiae brief supporting the position of Townstone Financial regarding the scope of the Equal Credit Opportunity Act...more

Latest CFPB Supervisory Highlights Identify Novel Violations Across Host of Financial Products and Services

Cooley LLP on 8/3/2023

On July 26, 2023, the Consumer Financial Protection Bureau (CFPB) issued its Summer 2023 Supervisory Highlights describing key findings and violations identified during examinations conducted between July 2022 and March 2023....more

CFPB Summer 2023 Supervisory Highlights looks at auto origination and servicing, consumer reporting, debt collection, deposits,...

Ballard Spahr LLP on 7/31/2023

The CFPB has released the Summer 2023 edition of Supervisory Highlights. The report discusses the Bureau’s examinations in the areas of auto origination and servicing, consumer reporting, debt collection, deposits, mortgage...more

CFPB’s Summer Edition of Supervisory Highlights Focuses on Auto Lending/Servicing and Debt Collection Practices

Troutman Pepper Locke on 7/28/2023

On July 26, the Consumer Financial Protection Bureau (CFPB or Bureau) released the summer edition of its Supervisory Highlights report, providing a high-level overview of alleged unfair, deceptive, or abusive acts or...more

CFPB Bites of the Month - July 2023 - Freedom, Independence, and Celebration From the CFPB

Hudson Cook, LLP on 7/24/2023

In this month's article, we share some of our top "bites" for the prior month covered during the July 2023 webinar. Bite 10: Public Inquiry Launched into Credit Card and Loan Products for Healthcare Costs - On July 7,...more

CFPB’s 2022 Fair Lending Report Focuses on Bias in Mortgage Lending, Redlining, Home Appraisals, Small Business Lending, and Shows...

Troutman Pepper Locke on 7/10/2023

As shown by a new report, the Consumer Financial Protection Bureau (CFPB or Bureau) is focusing its fair lending work on mortgage origination and pricing, small business lending, redlining, and the use of artificial...more

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