News & Analysis as of

Race Discrimination Fair Lending 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

Orrick, Herrington & Sutcliffe LLP

DOJ, CFPB: Lenders that rely on discriminatory appraisals violate the FHA and ECOA

On March 13, the DOJ and CFPB filed a statement of interest saying that a “lender violates both the [Fair Housing Act (FHA)] and ECOA if it relies on an appraisal that it knows or should know to be discriminatory.” ...more

WilmerHale

Expectations For CFPB's Fair Lending Agenda Under Biden

WilmerHale on

It is clear just a few weeks into the Biden administration that fair lending and racial equity will return as a central focus of regulators under President Joe Biden. Biden issued a memorandum his first week in office...more

Ballard Spahr LLP

DOJ Settles ECOA Claims Against Used Maryland Car Dealership

Ballard Spahr LLP on

The Department of Justice recently announced that it had settled a lawsuit filed in 2019 that alleged a Maryland used car dealership discriminated against African Americans in violation of the Equal Credit Opportunity Act by...more

Ballard Spahr LLP

Director Corday testifies before House Committee on Financial Services

Ballard Spahr LLP on

On Wednesday, September 29, CFPB Director Richard Cordray appeared before the House Committee on Financial Services to answer questions regarding the Bureau’s activities since March. Director Cordray used his introductory...more

Ballard Spahr LLP

CFPB and DOJ announce redlining settlement

Ballard Spahr LLP on

Consistent with recent indications from CFPB and Department of Justice officials that more redlining cases would soon be coming, the CFPB and DOJ have announced a proposed consent order with Hudson City Savings Bank to settle...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

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