Saying that reverse redlining is a form of discrimination, the U.S. District Court for the Southern District of Texas has refused to dismiss a discrimination case alleging that Texas developer Colony Ridge specifically targeted Limited English Proficient (LEP) people.

In issuing the ruling, the court dismissed a mortgage processing company from the suit, saying that the firm had not been involved in any lending decisions.… Continue Reading

An Illinois federal judge has dismissed a proposed class action lawsuit that alleged that two Midwestern banks failed to provide repayment disclosures to borrowers, in a case that was unique because the CFPB came to the defense of the financial institutions.

U.S. District Judge Manish Shah of the Northern District of Illinois, had asked the bureau to comment on whether the Bank of Orrick violated federal requirements to provide borrower Jose Lopez with disclosures, including how long it would take for him to repay his loan if he only paid the monthly minimum payment.… Continue Reading

In today’s podcast, which repurposes a recent webinar, we examine the impact, if any, of a landmark opinion rendered by Judge Daniel Domenico of the Federal District Court for the District of Colorado in a case challenging recently enacted Colorado legislation on interstate loans made from outside Colorado to Colorado residents.… Continue Reading

The CFPB recently issued a blog post, highlighting debt collection impacts on surviving spouses. In the blog, the CFPB warns that debt collectors who try to collect on a spouse’s medical bills from a survivor, who is not legally liable for the bills, may violate the Fair Debt Collection Practices Act and state law.… Continue Reading

Invitation Homes, the nation’s largest landlord of single-family homes, has agreed to pay $48 million and to stop a significant number of its rental practices, including misleading renters about lease costs and charging undisclosed fees characterized by the FTC as junk fees, according to an agreement approved Sept. 27 by the U.S.… Continue Reading

The CFPB has issued a proposed rule with a small amendment to disclosure requirements for certain international remittances and money transfers.

The bureau is seeking public comments on a proposed amendment that is intended to provide clearer information about the types of inquiries that might be better addressed by remittance companies before contacting the bureau or relevant state regulator.… Continue Reading

The Consumer Financial Protection Bureau’s (“CFPB”) Office of Servicemember Affairs Annual Report was released on September 24, 2024, highlighting areas of concern regarding student lending and noting that the number of complaints that servicemembers filed with the CFPB increased in 2023.

The report identifies trends in complaints, highlights financial services issues impacting servicemembers and veterans, and offers recommendations to improve financial protections for the military community.… Continue Reading

The CFPB recently announced that the Filing Instruction Guide (FIG) for the submission of Home Mortgage Disclosure Act (HMDA) data collected in 2025 is now available. The FIG, issued by the Federal Financial Institutions Examination Council, may be accessed here.

HMDA data for 2025 must be submitted on or before March 2, 2026.… Continue Reading

The House and Senate on September 25, 2024 passed legislation that would extend key parts of the National Flood Insurance Program (NFIP) until December 20, 2024. The extension is included in H.R. 9747, which also would provide funds for much of the federal government to keep operating until that date.

President Biden has said he will sign the legislation.… Continue Reading

On July 25, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies) issued a “Joint Statement on Banks’ Arrangements with Third Parties to Deliver Bank Deposit Products and Services” to “note potential risks related to arrangements between banks and third parties to deliver bank deposit products and services to end users”.… Continue Reading