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Fredrikson & Byron PA | USA | 1 Mar 2023
Recent Settlements Regarding Redlining Enforcement
Since the Department of Justice (DOJ) announced its redlining enforcement effort in October of 2021, four lending institutions agreed to consent…
Troutman Pepper | USA | 24 Feb 2023
FTC Provides CFPB With Annual Report of ECOA Activities
On February 9, the Federal Trade Commission (FTC) submitted its annual letter to the Consumer Financial Protection Bureau (CFPB) summarizing its…
Sheppard Mullin Richter & Hampton LLP | USA | 17 Feb 2023
FTC Provides CFPB with Letter on ECOA
On February 9, the FTC provided the CFPB and the Federal Reserve Board with its annual letter that summarizes its activities enforcing the ECOA and…
Bradley Arant Boult Cummings LLP | USA | 24 Oct 2022
FTC Settlement with Auto Dealer Group Demonstrates Treatment of Discriminatory Conduct as “Unfair”
The FTC issued a release on October 18, 2022, to announce that it has initiated an enforcement action in Maryland against a Washington, D.C.-area…
Bradley Arant Boult Cummings LLP | USA | 16 Aug 2022
Fannie Mae and Freddie Mac Direct Collection of Borrower Information to Further Fair Lending and Fair Servicing Aims
Two recent announcements by the Federal Housing Finance Agency (FHFA) will push the mortgage servicing industry to increase its collection and…
Bradley Arant Boult Cummings LLP | USA | 27 May 2022
CFPB Provides New Guidance on Discrimination in Algorithmic Credit Decisions
As we have repeatedly discussed this year in our Financial Services Perspectives blog, the current leadership of the CFPB has placed a significant…
Mayer Brown | USA | 12 May 2022
CFPB Reiterates ECOA Applies After Loan Origination
On May 9, 2022, the CFPB issued an Advisory Opinion outlining its position that the Equal Credit Opportunity Act (ECOA) and its implementing…
Blank Rome LLP | USA | 11 May 2022
CFPB Affirms Application of ECOA to Borrowers of Credit in Addition to Applicants
The Consumer Financial Protection Bureau ("CFPB") issued an Advisory Opinion on Monday affirming that the Equal Credit Opportunity Act ("ECOA") and…
Bryan Cave Leighton Paisner LLP | USA | 18 Apr 2022
CFPB Redefines Discrimination in Financial Services with Updates to UDAAP Examination Manual
The Consumer Financial Protection Bureau (CFPB) materially altered the consumer protection landscape in the financial services industry through a…
Cadwalader Wickersham & Taft LLP | USA | 23 Feb 2022
FTC Summarizes ECOA Enforcement Activities
The FTC summarized its enforcement-related activities concerning the Equal Credit Opportunity Act ("ECOA"). The FTC letter was a response to a…
