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Discrimination › Banks

Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's... more +
Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's race, religion, gender, age, to name a few.  less -
Cozen O'Connor

The State AG Report – 8.8.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Pennsylvania and Oklahoma AGs Launch Air Travel Complaint...more

Cozen O'Connor

Republican AGs Support State Efforts to Prohibit Discriminatory De-Banking

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A group of 20 Republican AGs sent a letter to the U.S. Department of Treasury voicing concerns about the agency’s July 18, 2024 letter, which characterized a Florida law protecting individuals from de-banking as harmful to...more

Cadwalader, Wickersham & Taft LLP

Rooting Out Discrimination In Real Estate Valuation and Appraisal

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The Federal Financial Institutions Examination Council (“FFIEC”) published a statement on February 12, 2024 regarding “principles for the examination of supervised [institutions’] residential property appraisal and...more

DailyPay, Inc.

Earned Wage Access & the Fintech Fight for Financial Equity

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As Black History Month comes to a close, the relationships between the history of race, poverty, affordable financial services, and modern American life are hard to ignore. Over the past two years, surviving a pandemic has...more

Alston & Bird

Modern-Day Redlining Enforcement: A New Baseline

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The Biden Administration’s focus on racial equity extends to many areas, and homeownership is the latest. Our Financial Services & Products Group analyzes new federal enforcement actions on alleged redlining to find patterns...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

Robins Kaplan LLP

Your Daily Dose of Financial News

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On the heels of Deutsche Bank’s $7.2 billion deal, Credit Suisse has finalized the terms of its own MBS-related settlement. The Swiss bank will pay $5.3 billion to resolve claims that it misled investors about the standards...more

Ballard Spahr LLP

DOJ Settles Fair Lending Claims Based on Bank's Pricing Policy for Vehicle-Secured Loans

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The U.S. Department of Justice (DOJ) has announced a proposed consent order with Charter Bank to settle charges that the bank violated the Equal Credit Opportunity Act (ECOA) by discriminating on the basis of national origin...more

Ballard Spahr LLP

U.S. Supreme Court Hears Oral Arguments in Case to Decide Whether Loan Guarantors Are “Applicants” Under ECOA

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The U.S. Supreme Court heard oral arguments on Monday in the case of Hawkins v. Community Bank of Raymore, the result of which will determine whether a spousal guarantor is an “applicant” under the Equal Credit Opportunity...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

Baker Donelson

Eleventh Circuit Further Widens the Reach of the Fair Housing Act

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The city of Miami brought an action against multiple lenders claiming their practices were discriminatory and in violation of the FHA, resulting in a disproportionate and excessive number of defaults and subsequent...more

Ballard Spahr LLP

ABA seeks supervisory and enforcement standards consistent with Inclusive Communities

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The American Bankers Association has sent a letter to the DOJ, Fed, OCC, FDIC, HUD and CFPB requesting confirmation “in interagency guidance, updated exam procedures, and where appropriate amended regulations that the...more

Ballard Spahr LLP

CFPB Speaks Out on Behalf of Disabled Veterans

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In a blog post on the CFPB website, the CFPB advocated on behalf of veterans with service-connected disabilities, who face obstacles when transitioning back to civilian life and working to become financially secure. The CFPB...more

Manatt, Phelps & Phillips, LLP

New York Bank Sued for Fair Housing, Lending Violations

Manatt, Phelps & Phillips, LLP on

Why it matters - New York banks are continuing to face lawsuits over alleged discriminatory lending practices. In September 2014, the state’s Attorney General, Eric T. Schneiderman, filed a “redlining” suit against...more

Carlton Fields

CFPB Proposes Regulating Nonbank Auto Finance Companies

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On September 16, the Consumer Financial Protection Bureau (CFPB) issued and requested comment on a proposed rule that would, for the first time, subject nonbank auto finance companies to federal regulation and oversight. The...more

Bradley Arant Boult Cummings LLP

Court Tosses HUD’s Disparate Impact Rule: Is Protection for Lenders from Disparate Impact Claims on the Horizon?

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Since the 1970s, courts have routinely held that the Fair Housing Act, 42 U.S.C. §§ 3601 et seq., may remedy housing discrimination proven through use of the disparate impact theory. The doctrine of disparate impact permits a...more

Manatt, Phelps & Phillips, LLP

New York’s Attorney General Files Redlining Suit Against Bank

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The New York Attorney General has charged a regional bank with engaging in illegal discrimination by intentionally ignoring predominantly African-American neighborhoods in Buffalo. ...more

Ballard Spahr LLP

NY Attorney General Files Redlining Lawsuit Alleging Mortgage Discrimination

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The New York Attorney General filed a complaint this week in a New York federal court against a national bank headquartered in the state and its holding company alleging that the defendants violated the federal Fair Housing...more

Ballard Spahr LLP

CFPB to issue whitepaper on methodology for identifying auto finance discrimination and consider use of advisory opinions

Ballard Spahr LLP on

While Director Cordray’s appearance at the House Financial Services Committee’s hearing on the CFPB’s fifth Semi-Annual Report yesterday was accompanied by the usual dose of political theater, his testimony did yield the...more

King & Spalding

“Predatory Lending” Claims by Cities and Counties Against Financial Institutions Escalate in 2014

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Cities and counties that have experienced increased foreclosure and vacancy rates in the aftermath of the housing market crash of 2007-2008, perhaps emboldened by recent court decisions, have recently filed several new...more

Bilzin Sumberg

L.A. Sues JPMorgan Over Discriminatory Mortgage Lending Practices

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On Friday, May 30, 2014, asserting that “[i]t is axiomatic that banks should not make discriminatory loans”, the City of Los Angeles filed a two-count complaint against JPMorgan Chase & Co. in Federal Court for the Central...more

Stinson LLP

Banks Face Class Action Lawsuits Alleging Noncompliance With ADA Regulations Governing ATMs

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More than 100 nearly identical class action lawsuits alleging noncompliance with Americans with Disability Act accessibility standards for ATM machines have been filed against banks and credit unions since new standards went...more

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