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Department of Justice (DOJ) Consumer Lenders Financial Institutions

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024 # 4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Whitman Legal Solutions, LLC

Redlining Was Outlawed More than 50 Years Ago – Does It Still Continue?

Recently, my son took an online college course about social justice in the as-built environment. One topic in the class was redlining – a practice that limited the availability of affordable home loans for minorities.   ...more

Hudson Cook, LLP

CFPB and Department of Justice Sue Land Developer for Bait-and-Switch Sales and Lending Practices to Hispanic Homebuyers

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The CFPB and Justice Department sued a Texas-based developer and its affiliates, as well as a mortgage lender, alleging they operate a deceptive and discriminatory land sales scheme targeting Hispanic borrowers by selling...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 # 5

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2023

The federal banking agencies have jointly issued a final rule that will modify how examiners assess compliance with the Community Reinvestment Act (CRA). Among other changes to the CRA regulations announced on October 24, the...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 # 4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter -October 2023 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...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

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Nondiscrimination and Military Protection Laws

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In this article, we share a timeline of our monthly "bites" for 2022 applicable to consumers protected by nondiscrimination and military protection laws. The CFPB has historically been particularly active with respect to...more

Nelson Mullins Riley & Scarborough LLP

DOJ, CFPB Warn Auto Finance Companies about Servicemember Protections

The U.S. Department of Justice (“DOJ”) and the Consumer Finance Protection Bureau (“CFPB”) issued a joint letter reminding the auto finance industry to enforce certain interest rate restrictions and other consumer protection...more

Manatt, Phelps & Phillips, LLP

DOJ, OCC Announce Major Settlement of Fair Lending Allegations

In the largest fair lending enforcement action in several years, the Department of Justice (DOJ) and the Office of the Comptroller of the Currency (OCC) on August 30 announced simultaneous settlements with a national banking...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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A federal jury in Brooklyn has found former HSBC Holdings exec Mark Johnson guilty on 9 counts of front-running that grew out of the DOJ’s investigation into forex manipulation at HSBC....more

Ballard Spahr LLP

Community banks trade group asks Trump Administration to curb fair lending enforcement

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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

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more

Ballard Spahr LLP

Effective Communication with Consumers with Disabilities

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The Americans with Disabilities Act (ADA) applies to certain entities providing goods and services to the public. In the context of interactions with the public, mortgage lenders have obligations to ensure that information...more

Ballard Spahr LLP

Payday Lenders’ “Operation Choke Point” Suit Allowed To Proceed

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In a June 2014 alert, we discussed Community Financial Services Association vs. Federal Deposit Insurance Corporation, a payday loan industry suit challenging on various grounds certain supervisory and interpretive statements...more

Stinson LLP

CFPB and DOJ Take Action Against Fifth Third Bank

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On September 28, 2015, the Consumer Financial Protection Bureau (CFPB) announced two separate actions against Fifth Third Bank. The first action—brought only by the CFPB—relates to Fifth Third Bank’s marketing of credit card...more

Ballard Spahr LLP

CFPB and DOJ announce redlining settlement

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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

Stinson LLP

CFPB and DOJ Announce Joint Action Against Hudson City Savings Bank, F.S.B.

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On September 24, 2015, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) announced a joint action against Hudson City Savings Bank, F.S.B. (Hudson). The complaint alleges that Hudson...more

Ballard Spahr LLP

House Financial Services Committee passes CFPB-related bills including bill creating TRID Rule hold harmless period

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On July 29, the following four CFPB-related bills were passed by the House Financial Services Committee: H.R. 3192, the “Homebuyers Assistance Act”: The bill would provide a hold harmless period for the TILA/RESPA Integrated...more

Ballard Spahr LLP

Auto finance company agrees to change dealer compensation policy to settle CFPB and DOJ fair lending claims

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Earlier this month, American Honda Finance Corporation (AHFC) entered into a settlement with the CFPB and the Department of Justice to resolve charges that it engaged in unlawful discrimination in violation of the Equal...more

Ballard Spahr LLP

Auto Finance Company Agrees to Change Dealer Compensation Policy to Settle CFPB and DOJ Fair Lending Claims

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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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