The 2023 order, aimed at ensuring the collection of information about applicants’ race, ethnicity and gender, wasn’t scheduled to be lifted until 2028. Regulators say the bank has fulfilled its obligations. Continue reading
Judge declines to reopen case and vacate settlement with Chicago mortgage broker Townstone Financial, calling the request “a Pandora’s box the court refuses to open.” Continue reading
Fair housing and consumer groups are trying to stop the Trump administration from vacating a settlement the government reached with a Chicago mortgage broker just days before the November election. Continue reading
Acting director Russell Vought claims bureau “abused its power” in redlining case against Townstone Financial that dragged on for four years, to “further the goal of mandating DEI in lending.” Continue reading
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
Regulators alleged statements made by hosts of Townstone Financial’s call-in show discouraged “prospective” African-American applicants from seeking mortgage loans. Continue reading