CFPB, Federal Agencies, State Agencies, and Attorneys General
The trade group representing debt collection agencies, creditors, debt buyers, collection attorneys, and debt collection industry service providers has filed suit challenging the Colorado law that bans the inclusion of medical debts in credit reports.
ACA International is joined by one of its members, the Fresno Credit Bureau, in the suit against Martha Fulford, the Colorado Uniform Consumer Credit Code Administrator. … Continue Reading
Today’s episode marks the second of a two-part series, with Part One having been released on November 13th. In this installment, we continue our conversation on the many changes in fair lending policy and enforcement under the second Trump administration.
The discussion is moderated by Alan Kaplinsky, Senior Counsel, founder and former chair for 25 years of Ballard Spahr’s Consumer Financial Services Group, and features these distinguished experts in the field:
The CFPB has issued a proposed rule that would make substantial changes to Regulation B under the Equal Credit Opportunity Act (ECOA). In one of the most significant changes, the bureau has preliminary determined that disparate-impact claims are not authorized by ECOA. The proposal also addresses what constitutes prohibited discouragement of applicants or prospective applicants and would substantially revise the rules governing special purpose credit programs (SPCPs) offered by for-profit creditors, essentially eliminating many of such SPCPs.… Continue Reading
Today’s episode marks the first of a two-part series, with Part Two scheduled for release on November 20th. In this installment, we examine the sweeping changes in fair lending policy and enforcement under the second Trump administration.
The discussion is moderated by Alan Kaplinsky, Senior Counsel, founder and former chair for 25 years of Ballard Spahr’s Consumer Financial Services Group, and features these distinguished experts in the field:
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
The U.S. Department of Justice (DOJ) has filed a motion with a federal district court to terminate early the September 2022 consent order with Lakeland Bank (Lakeland) that settled allegations of redlining under the Fair Housing Act and Equal Credit Opportunity Act. The motion also seeks the dismissal with prejudice of the case that the DOJ brought that resulted in that consent order.… Continue Reading
As previously reported, in March 2025 the CFPB and Townstone Financial (Townstone) filed a joint motion with a U.S. District Court seeking to reverse the November 2024 consent order between the parties that resolved CFPB allegations of redlining on the part of Townstone in violation of the Equal Credit Opportunity Act (ECOA).… 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
President Trump recently signed an Executive Order entitled “Restoring Equality of Opportunity and Meritocracy“ to eliminate the use of disparate impact liability. The U.S. Department of Housing and Urban Development (HUD) also has indicated that it intends to yet again reconsider its disparate impact rule under the Fair Housing Act.… Continue Reading
In the latest edition of its Consumer Compliance Outlook, the Federal Reserve (Fed) identified the four most significant fair lending violations that it found in examining state member banks in 2022. These are violations that were typically identified in examinations as matters requiring attention or as matters requiring immediate attention.
Fair Lending Risk Assessment.… Continue Reading
