Explore news updates, Knowledge Center articles and case studies related to Fair Lending…
Patriot Bank Agrees to $1.9M Settlement for Redlining
Patriot Bank, based in Millington, Tennessee, has agreed to enter into a consent order with the U.S. Department of Justice (DOJ) to resolve the federal government’s allegations that the bank avoided providing mortgages to people living in, or seeking to live in, majority Black and Hispanic neighborhoods. Patriot, a community bank with eight branches, serves […]
Redlining Enforcement Ramp Up: Prepare Now
The U.S. Department of Justice (DOJ) announced recently that through its “Combatting Redlining Initiative,” it has secured more than $107 million in relief for communities nationwide experiencing lending discrimination. Attorney General Merrick Garland declared, “This work is just the beginning – the Justice Department currently has over two dozen active investigations into redlining, spanning neighborhoods […]
Regulators Issue Final Rule to Modernize the CRA
On October 24th, the Office of the Comptroller of Currency, Federal Reserve Board, and the Federal Deposit Insurance Corporation issued a final rule to strengthen and modernize the Community Reinvestment Act (CRA). This revision to the CRA regulation, the first comprehensive update since 1995, was issued with the following stated goals: Encourage banks to expand […]
CFPB Finalizes Rule on Small Business Loan Reporting
The Consumer Financial Protection Bureau (CFPB) finalized the Rule implementing Section 1071 of the Consumer Financial Protection Act’s requirements that lenders make data available to the public about their small business lending activity. Under this new Rule, lenders will collect and report information about the small business credit applications they receive, including geographic and demographic […]
CFPB Examines Impact of High Vehicle Costs on Consumer Credit Health
The Consumer Financial Protection Bureau (CFPB) is eyeing the relationship between rising car prices and changes in auto loan characteristics and performance. In a September 19, 2022, blog post, the bureau expressed concern about the impact of larger loan amounts and higher monthly payments on the financial health of consumers with near-prime or subprime credit […]
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- New FHFA Rule will Require Mortgage Servicers to Maintain Fair Lending Data
- Trident Mortgage Company Enters $20 Million+ Redlining Settlement Agreement
- FTC Announces $10 Million Settlement with Illinois-Based Automotive Group
- CFPB Extends Protections to Target Consumer Finance Discrimination
- CFPB Comments on Proposed Appraisal Standard Changes as Regulatory Focus on Appraisals Heightens
- Justice Department Announces New Initiative to Combat Redlining and Announces Settlement with Trustmark National Bank
- Cadence Bank Settles with DOJ, OCC Over Lending Discrimination Allegations
- HUD Issues Charge of Discrimination Against Mortgage Modification Company
- CFPB Rescinds 2020 Policy Statements Issued Due to COVID-19
- CFPB Signals Discrimination Based on Sexual Orientation or Gender Identity is Illegal
- Aligning Fair Lending Testing with Why Consumers Withdraw their Mortgage Applications
- Aligning Fair Lending Testing with Why Consumers Withdraw their Mortgage Applications
- NYDFS Calls For Nonbank Community Lending Requirements, Cites Hunt Mortgage
- Updated Census Bureau Data May Create New Compliance Risk for Lenders in 2022
- Lessons From the Recent Washington Federal Bank HMDA Settlement
- CFPB Releases Outline of Small Business Data Collection Rulemaking
- Key Insights from the Townstone Financial Redlining Complaint
- NAR and Quicken Loans ask HUD to Withdraw Proposed Amendments to Fair Housing Act
- OCC Releases Semiannual Risk Perspective – Warns of Covid-19 Related Increased Risk
- Compliance in the Era of COVID-19: Managing Risk While Meeting Consumer Needs
- Santander Agrees to Pay $550M to Settle Auto-Lending Lawsuit
- CFPB Highlights Importance of Fair Lending for Minority and Women-Owned Businesses
- Ramping up, rather than letting up on compliance during COVID-19
- New White Paper Urges CFPB Action to Address Pandemic
- OneWest Bank reaches settlement on redlining allegation
- OCC Releases Spring 2019 Semiannual Risk Perspective
- NY Launches State-Level Consumer Financial Protection Division
- ADI Announces Availability of Preliminary Snapshot of National 2018 HMDA Data
- Mortgage Lenders 73% More Likely to Deny Same-Sex Couples, per Recent Study
- Facebook Changes Ad Policies to Address Fair Lending, Housing Concerns
- OCC Fines Citibank for FHA Violations
- Liberty Bank Settles in Lawsuit Alleging Discriminatory Lending
- Citigroup Under Scrutiny for Possible Fair Lending Violations
- How Controlling for Local Competitive Environments May Reduce Fair Lending Pricing Risk
- 2016 HMDA Data Highlights [Infographic]
- CFPB Finalizes Amendments to Equal Credit Opportunity Act
- Philadelphia Sues Wells Fargo for Discriminatory Lending Practices
- U.S. Supreme Court Recognizes New Fair Housing Act Stakeholders in Bank of America, et. al. v. City of Miami
- CFPB Releases 2016 Fair Lending Report, Redlining Among Top 2017 Priorities
- FRB Announces Enforcement Action with Santander
- HUD Sanctions Illinois Bank for Fair Lending Violations
- JPMorgan Chase to Pay $55M in Mortgage Discrimination Settlement
- DOJ Sues KleinBank for Redlining
- DOJ, Ohio Banks Reach Settlement on Redlining Allegations
- CFPB Top Fair Lending Priorities for 2017
- 2015 HMDA Data Now Available – Minority Mortgage Lending Shows Improvement
- DOJ, Texas Bank Reach Settlement on Alleged Pricing Discrimination in Auto Lending
- DOJ Alleges Discrimination from Loan Modification Service Providers
- Using BancorpSouth as a Learning Opportunity for Redlining
- Miami Predatory Lending Suit to be Considered by SCOTUS
- Using Regression to Enhance Fair Lending Underwriting CFRs
- Evaluating Redlining Risk in Mortgage and Consumer Lending
- HUD, First-Citizens Bank Resolve Discriminatory Lending Complaint
- Trend towards jumbo mortgages may raise risk exposure under Fair Lending, CRA
- Bank Reaches Agreement in Complaint Alleging Discriminatory Treatment
- CFPB Publishes 2015 Report on Consumer Complaints
- CFPB and DOJ Reach Settlement with Toyota for Fair Lending Violations
- Justice Department Reaches Fair Lending Settlement with Sage Bank
- CFPB Releases Fall 2015 Supervisory Highlights
- City of Oakland Brings Fair Lending Suit Against Wells Fargo
- CFPB, DOJ Announce Joint Action Against Hudson City Savings Bank in Redlining Settlement
- Analyzing Underwriting Fair Lending Risk: Dynamic Modeling of Underwriting as a Two Phase Process
- Study Finds African-American Mortgage Borrowers More Likely to Receive Higher Price Than Their NPB Counterparts
- Down Payment Misperceptions May Be Limiting Fair Lending and CRA
- Q2 Results for Top Lenders Signal Strong Mortgage Market
- Senators Are Pushing the CFPB to Write Small Business Reporting Rule
- Supreme Court to Address ECOA Spouse Rule
- Black and Hispanic Applicants in NYC Were Twice as Likely to be Denied in 2013
- CFPB to Propose Consent Orders Against 3 Large Auto Lenders
- ACLU Studies Impact of Housing Crisis on the Wealth Gap
- Supreme Court Backs Disparate Impact Under FHA
- [Infographic] 8 Critical Components of a Fair Lending Compliance Program
- Is Scrutiny of Language-Based Discrimination on the Fair Lending Horizon?
- Mortgage Lender Fined for Deceptive Advertising
- Fair Lending Issues Complicate a Major Acquisition
- Hot Topics in Fair Lending
- Enhancing a Fair Lending Risk Assessment With BISG
- [Infographic] How has mortgage lending to minorities changed since the burst of the housing bubble?