UDAAP and Fair Lending Developments: 2024 Year-in-Review and 2025 Predictions — The Consumer Finance Podcast
Putting AI to Work in Compliance
An Illinois federal district court judge presiding over a revived redlining case denied a joint motion to vacate a 2024 voluntary settlement between the Consumer Financial Protection Bureau (CFPB) and a Chicago-based non-bank...more
On June 12, the U.S. District Court for the Northern District of Illinois denied the joint motion by the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. to vacate the Stipulated Final...more
In a surprising turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. (Townstone) have jointly moved to vacate the Stipulated Final Judgment and Order previously entered in...more
Saying that the bureau under the Biden Administration abused its power, the CFPB is seeking to reverse its settlement with Townstone Financial....more
For the last several years, federal agencies, including the Consumer Financial Protection Bureau (“CFPB”), have been strongly encouraging financial institutions to implement and offer targeted credit assistance to...more
On January 17, 2025, the CFPB filed a complaint against an Illinois-based non-depository mortgage lender for allegedly engaging in discriminatory practices. The CFPB alleges the lender engaged in improper redlining by...more
We previously reported on the Executive Order 13772 titled “Core Principles for Regulating the United States Financial System,” which is a high-level policy statement consisting of a series of Core Principles that are...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