Statute
ECOA
95 published works
Consumer Finance Monitor
Republican Senators urge CFPB and DOJ to retract joint statement on consideration of immigration status under ECOA
By Richard J. Andreano, Jr., John L. Culhane, Jr.
A group of eleven Republican Senators who are members of the Senate Banking Committee have sent a letter to CFPB Director Rohit Chopra and Attorney General Merrick Garland to urge…
Consumer Finance Monitor
DOJ Redlining Consent Order With Ameris Bank
By Richard J. Andreano, Jr., John L. Culhane, Jr., Loran Kilson
Recently the U.S. Department of Justice (DOJ) entered into a proposed consent order with Ameris Bank to resolve allegations of redlining from 2016 through 2021 in majority Black and Hispanic…
Consumer Finance and Fintech Blog
CFPB, DOJ Joint Statement: Financial Institutions May Not Use Immigration Status to Illegally Discriminate Against Credit Applicants
By Moorari Shah, A.J. Dhaliwal
On October 12, the CFPB and DOJ issued a joint statement that reminds financial institutions that all credit applicants are protected from discrimination on the basis of their national origin,…
Consumer Financial Services Law Monitor
Federal Agencies Finally Weigh in on Immigration Status in Credit Underwriting
By Lori Sommerfield, Chris Willis, Mark Furletti
Yesterday, the U.S. Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) (collectively, the agencies) issued a joint statement on the subject of creditors' use of immigration status…
Consumer Finance Monitor
FTC and consumer groups file amicus briefs in Seventh Circuit in support of CFPB’s appeal from district court ruling in Townstone Mortgage that ECOA only applies to applicants
By John L. Culhane, Jr., Richard J. Andreano, Jr.
The FTC has filed an amicus brief in support of the CFPB’s appeal to the U.S. Court of Appeals for the Seventh Circuit from the district court’s decision in the…
Consumer Financial Services Law Monitor
Section 1071 Final Rule: Data Collection and Reporting
By Chris Willis, Lori Sommerfield, Joseph Reilly, Caleb Rosenberg, Josh McBeain, Christine Emello, Addison Morgan
As recently discussed on our podcast here, section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) amended the Equal Credit Opportunity Act (ECOA)…
Consumer Finance Monitor
CFPB pushes the ECOA coverage envelope again
By Richard J. Andreano, Jr., John L. Culhane, Jr.
The CFPB has filed a Statement of Interest in a case pending before a Florida federal district court in which the plaintiffs allege that the defendant engaged in discriminatory targeting…
Consumer Financial Services Law Monitor
CFPB Issues Tools to Help Small Businesses Navigate Section 1071 Final Rule
By Chris Willis, Lori Sommerfield, Mark Furletti, Jeremy Rosenblum, Caleb Rosenberg, Josh McBeain, Addison Morgan
As discussed here, on March 30, the Consumer Financial Protection Bureau (CFPB) issued its final rule under Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final…
Consumer Finance Monitor
CFPB files appeal from district court ruling in Townstone Mortgage that ECOA only applies to applicants
The CFPB has filed a Notice of Appeal with the U.S. Court of Appeals for the Seventh Circuit from the district court’s decision in the CFPB’s enforcement action against Townstone…
Consumer Finance and Fintech Blog
FTC Provides CFPB with Letter on ECOA
By Moorari Shah, A.J. Dhaliwal, Alyssa Paddock
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 its implementing regulation, Regulation B,…