Tag Archives: Equal Credit Opportunity Act

Redlining settlement wouldn’t resolve 1st Amendment questions

By | | Uncategorized
Comments Off on Redlining settlement wouldn’t resolve 1st Amendment questions

The CFPB claimed statements made by hosts of Townstone Financial’s AM radio call-in show and podcasts discouraged Black Chicago residents from applying for a mortgage. Continue reading →

Fairway blasts federal regulators in $10M redlining settlement

By | | Uncategorized
Comments Off on Fairway blasts federal regulators in $10M redlining settlement

Nation’s third biggest lender casts itself as a victim of politics, noting CFPB launched its investigation the day after Biden Administration took office. Continue reading →

Park National Bank latest lender to settle federal redlining charges

By | | Uncategorized
Comments Off on Park National Bank latest lender to settle federal redlining charges

The Ohio bank’s $9 million pledge to promote ownership in Black and Hispanic neighborhoods is the sixth since the DOJ launched an initiative to combat redlining in October 2021, with lawsuits generating $84 million in relief to date. Continue reading →

Court tosses redlining suit sparked by mortgage broker’s radio show

By | | Uncategorized
Comments Off on Court tosses redlining suit sparked by mortgage broker’s radio show

Regulators alleged statements made by hosts of Townstone Financial’s call-in show discouraged “prospective” African-American applicants from seeking mortgage loans. Continue reading →

Wells Fargo exiting correspondent mortgage lending business

By | | Uncategorized
Comments Off on Wells Fargo exiting correspondent mortgage lending business

Executives hope to reduce risk by reducing the size and narrowing the focus of bank’s mortgage business to better serve retail customers and minority communities. Continue reading →

Nationwide appraisal ethics rule changes postponed until 2024

By | | Uncategorized
Comments Off on Nationwide appraisal ethics rule changes postponed until 2024

The Appraisal Foundation’s Appraisal Standards Board says it needs more time to assess proposed changes designed to close the door to discrimination. Continue reading →