The Consumer Financial Protection Bureau (CFPB or Bureau) issued a final rule updating, among other things, the model form for the Fair Credit Reporting Act (FCRA) Summary of Consumer Rights and information that must be included in adverse action notices under the Equal Credit Opportunity Act (ECOA). Specifically, the CFPB is correcting the contact information

On March 17, the U.S. Department of Housing and Urban Development (HUD) announced that it is rescinding its 2020 rule governing Fair Housing Act (FHA) disparate impact claims and restoring its 2013 discriminatory effects rule on the basis that it believes the 2013 rule is more consistent with how the FHA has been applied in

On February 28, the U.S. Department of Justice (DOJ) announced its sixth redlining settlement under its Combatting Redlining Initiative. This most recent case involves an agreement between the DOJ and Ohio-based Park National Bank to resolve allegations that the bank failed to provide mortgage loans by redlining majority-Black and Hispanic neighborhoods in the Columbus, Ohio

On February 9, the Federal Trade Commission (FTC) submitted its annual letter to the Consumer Financial Protection Bureau (CFPB) summarizing its activities enforcing the Equal Credit Opportunity Act (ECOA) and its implementing regulation, Regulation B. This letter is included in the CFPB’s annual report to Congress on the ECOA. A copy of the summary was

On February 14, Patrice Ficklin, the Fair Lending Director for the Consumer Financial Protection Bureau (CFPB), together with senior officials from the Federal Reserve Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, National Credit Union Administration, U.S. Department of Housing and Urban Development, Federal Housing Finance Agency, and U.S. Department of

On February 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog discussing improvements made to its services with the goal of providing the same experience to consumers with limited English proficiency (LEP) that its English-speaking consumers receive. These improvements include redesigned website landing pages in seven languages and the ability to accept

Can websites or mobile apps that offer ranked lists of mortgage providers purportedly best suited for individual consumers violate section 8 of the Real Estate Settlement Practices Act (RESPA)? According to the Consumer Financial Protection Bureau (CFPB or Bureau) in its recent advisory opinion, these digital platforms may violate the RESPA if the platform:

On February 3, an Illinois federal court dismissed a case brought by the Consumer Financial Protection Bureau (CFPB) against Townstone Financial, Inc., a Chicago mortgage lender, for alleged violations of the Equal Credit Opportunity Act (ECOA) for purportedly discouraging prospective African American applicants in the Chicago metropolitan area from applying for mortgages. Townstone moved to

Combatting appraisal bias continues to be a top priority for the Consumer Financial Protection Bureau (CFPB), as recently emphasized by Deputy Director Zixta Q. Martinez during her remarks at the National Fair Housing Alliance event previewing the documentary Our America: Lowballed. Martinez stated that the CFPB has been actively working with the White House Property

In the largest redlining settlement in the department’s history, the U.S. Department of Justice (DOJ) announced that an agreement has been reached to resolve redlining allegations against a Los Angeles-based bank. Under the terms of the proposed consent order, the bank will pay more than $31 million to resolve the allegations that it engaged