UDAAP and Fair Lending Developments: 2024 Year-in-Review and 2025 Predictions — The Consumer Finance Podcast
Putting AI to Work in Compliance
On July 23, the U.S. District Court for the Eastern District of Pennsylvania denied the Department of Justice’s motion to terminate a consent order requiring a Pennsylvania bank to implement a five-year fair lending...more
One of the most important areas of consumer financial regulation today is the use of internet- or social media-based platforms to target advertising for consumer financial products. ...more
On May 8, the Department of Justice (“DOJ”) announced that it had reached a voluntary settlement with a family-owned Minnesota bank, resolving allegations that the bank had violated the Fair Housing Act, 42 U.S.C. §§ 3601 et...more
The Independent Community Bankers of America issued a statement calling on the Trump administration “to rein in the overzealous application of fair lending laws.” ICBA stated that community banks are threatened by a recent...more
The CFPB and DOJ recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the Fair Housing Act and the Equal Credit Opportunity Act....more
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