News & Analysis as of August 16, 2025

Financial Institutions

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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 +

Court Denies CFPB/Townstone Bid to Undo Consent Order

Ballard Spahr LLP on 6/16/2025

As previously reported, in March 2025 the CFPB and Townstone Financial (Townstone) filed a joint motion with a U.S. District Court seeking to reverse the November 2024 consent order between the parties that resolved CFPB...more

Judge refuses to dismiss most reverse discrimination counts in case against Colony Ridge

Ballard Spahr LLP on 10/8/2024

Saying that reverse redlining is a form of discrimination, the U.S. District Court for the Southern District of Texas has refused to dismiss a discrimination case alleging that Texas developer Colony Ridge specifically...more

Seventh Circuit Reverses District Court Decision, Expands ECOA to Include Prospective Applicants

Troutman Pepper Locke on 7/15/2024

As discussed here, on February 3, 2023, an Illinois federal court dismissed a case brought by the Consumer Financial Protection Bureau (CFPB or Bureau) in 2020 against Townstone Financial, Inc., a Chicago mortgage lender, for...more

9 Consumer Finance Issues to Note From CFPB Report

Troutman Pepper Locke on 12/15/2023

In July, the Consumer Financial Protection Bureau published a report highlighting various unfair, deceptive, and abusive acts or practices it claims to have uncovered during its supervisory examinations from July 2022 to...more

Nutter Bank Report: September 2023

Nutter McClennen & Fish LLP on 9/28/2023

The CFPB has published guidance about compliance with Regulation B, which implements the Equal Credit Opportunity Act (ECOA), when lenders deliver denial notices based on underwriting decisions using artificial intelligence...more

CFPB finalizes alignment of Regulation B and Regulation C requirements regarding collection of consumer ethnicity and race...

Ballard Spahr LLP on 9/22/2017

On September 21, the CFPB finalized its proposal to amend Regulation B requirements related to the collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised...more

CFPB identifies 2017 priorities in annual fair lending report

Ballard Spahr LLP on 4/20/2017

In its new annual report covering its fair lending activities during 2016, the CFPB identifies the following three areas on which it “will increase our focus” in 2017...more

CFPB approves FHLMC/FNMA revised uniform residential loan application; collection of HMDA ethnicity and race information in 2017

Ballard Spahr LLP on 9/30/2016

In a notice published in today’s Federal Register, the CFPB announced that it has given its “official approval” to a revised and redesigned Uniform Residential Loan Application (2016 URLA) and to the collection of expanded...more

CFPB issues Summer 2016 Supervisory Highlights

Ballard Spahr LLP on 7/6/2016

In its Summer 2016 Supervisory Highlights, which covers supervision work generally completed between January and April 2016, the CFPB highlights violations found by its examiners involving automobile origination, debt...more

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