Fair Lending

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Lessons Learned and Best Practices in an Era of Heightened Government Scrutiny for the Industry October 29-30, 2015 – The Carlton Hotel – New York City We are pleased to announce that David N. Anthony, Partner at Troutman Sanders, will present “Protection of Consumer Financial Information Including Consumer Financial Privacy (FCRA and GLBA) Plus…

On September 24, the Consumer Financial Protection Bureau and the U.S. Department of Justice announced a proposed Consent Order with Hudson City Savings Bank, whereby the mortgage lender agreed to pay $27.5 million in direct loan subsidies and community outreach programs, as well as an additional $5.5 million civil penalty.  The proposed Consent Order also…

Expert strategies for in-house and outside counsel on navigating class actions, litigation, and government enforcement actions and examinations in the consumer finance industry

Monday, July 27 to Tuesday, July 28, 2015

The Omni Hotel on the Magnificent Mile, Chicago, IL

On behalf of Troutman Sanders you will receive a discount off the standard registration cost…

On June 23, the Consumer Financial Protection Bureau issued the eighth edition of its “Supervisory Highlights,” which covered supervisory activities the Bureau completed between January and April 2015.

The CFPB oversees depository institutions and credit unions with total assets of more than $10 billion, as well as their affiliates.  Under the Dodd-Frank Wall Street Reform…

On June 25, 2015, a 5-4 majority of the U.S. Supreme Court ruled that the Fair Housing Act (“FHA”) permits discrimination claims brought under a disparate impact theory of liability. Justice Kennedy authored the majority opinion in the much-anticipated decision in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. – a…

The Consumer Financial Protection Bureau recently issued its Winter 2015 Supervisory Highlights report which provides an overview of the supervision work completed by the CFPB from July through December 2014.  Matters resolved by the CFPB’s Supervision side are non-public in nature and are resolved, not generally through the payment of large fines and penalties, but…

Join us at the American Conference Institute’s 22nd National Forum on Consumer Finance Class Actions & Litigation. Two full days of expert strategies for in-house and outside counsel on navigating class actions, litigation, and government enforcement actions in the consumer finance industry.

April 13 – 14, 2015; Omni Los Angeles Hotel at California Plaza…

Law360 is reporting that another subprime auto lender, the Nevada-based Consumer Portfolio Services, Inc., has disclosed in an SEC filing that it received a civil investigative subpoena from the Department of Justice.  As we’ve previously reported, both federal and state regulators recently have increased their scrutiny of subprime auto lending.

This is not the first…

In November, the Consumer Financial Protection Bureau issued a compliance bulletin (CFPB Bulletin 2014-03) reminding lenders of their legal obligations when underwriting mortgage loans for Social Security disability recipients.  The agency outlined steps that creditors can take to avoid illegal discrimination in violation of the Equal Credit Opportunity Act (ECOA) and Regulation B.

Lenders in…

House Financial Services Committee Chairman Rep. Jeb Hensarling (R-Texas) recently sent a letter to CFPB Director Richard Cordray expressing concern about the Bureau’s proposed regulation of nonbank auto lenders.

According to Hensarling, it would be “inappropriate” for the agency to regulate nonbank auto lenders until it clarifies the “rules of the road.”  The letter echoes…