CFPB, Federal Agencies, State Agencies, and Attorneys General
A federal judge has rejected the Trump Administration’s request to release from court supervision a bank that had been accused of discriminatory lending.
U.S. District Judge Michael M. Baylson of the U.S. District Court for the Eastern District of Pennsylvania found that continued oversight was needed to make sure the terms of the settlement with ESSA Bank were followed.… Continue Reading
As previously reported, based on an unopposed motion submitted by the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) the October 2021 redlining consent order with Trustmark National Bank was terminated early, and the DOJ is seeking early termination of the September 2022 consent order with Lakeland Bank.… Continue Reading
A federal district court recently granted the unopposed motion of the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) to terminate their October 2021 consent order with Trustmark National Bank (Trustmark) and to dismiss with prejudice the redlining case they brought that resulted in that consent order.
As previously reported, the agencies, along with the Comptroller of the Currency, announced the consent order at the same time that the DOJ announced its initiative to combat redlining.… Continue Reading
We are releasing today on our podcast show a repurposed webinar which we produced on May 13, 2025 entitled “What is happening at the federal agencies (other than the CFPB) that is relevant to the consumer financial services industry.”
During this podcast, we will inform you about recent developments at those other agencies, including the FTC, OCC, FDIC, FRB and DOJ (collectively, the “Agencies”) and the White House (through the issuance of Executive Orders).… Continue Reading
The short answer is that the outcome of the Supreme Court hearing (whose oral argument is scheduled for May 15 at 10 am) is of immense importance to all stakeholders in the consumer financial services industry. We will explain why that is the case.
The Fourteenth Amendment states: “All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.”… Continue Reading
Today’s podcast show features a discussion with David Dayen, executive editor of the American Prospect, which is an online magazine about ideas, politics, and power. He’s the author of “Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud,” which was published in 2016. David has written and published about 10 or so articles in which he chronicles in great detail the apparent effort by the Trump Administration, acting through Scott Bessent and Russell Vought, to dismantle the CFPB by abruptly ordering a cessation of all activities and layoffs of probationary and term employees and a plan to layoff 1,300 or so additional employees.… Continue Reading
The Justice Department is asking a federal court to issue a permanent injunction against cash advance firm Dave Inc. and its CEO Jason Wilk, alleging that the company uses misleading marketing tactics to deceive consumers about the amount of its cash advances, charges consumers undisclosed fees, and charges so-called “tips” to consumers without their consent.… Continue Reading
The Servicemember Civil Relief Act limits the amount of interest that may be charged on certain financial obligations that were incurred before military service began to no more than 6% percent per year, including most fees and charges, the CFPB and the Justice Department reminded financial institutions in a recent letter.… Continue Reading
The Justice Department announced that Citadel Federal Credit Union has agreed to pay more than $6.5 million to resolve allegations that it engaged in a pattern or practice of redlining majority-Black and Hispanic neighborhoods in and around Philadelphia, Pennsylvania from at least 2017 through 2021 in violation of the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA).… Continue Reading
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
