Explore news updates, Knowledge Center articles and case studies related to Fair Lending…

Philadelphia Sues Wells Fargo for Discriminatory Lending Practices

The City of Philadelphia announced (HousingWire) on May 15, 2017 that it will sue one of the nation’s largest banks, Wells Fargo, for discriminatory lending practices against its minority residents which, in turn, caused harm to the City. This suit will be a major test of a recent ruling by the U.S. Supreme Court (Bank […]

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U.S. Supreme Court Recognizes New Fair Housing Act Stakeholders in Bank of America, et. al. v. City of Miami

Can a city, or potentially other governmental entities, sue lenders over their discriminatory lending practices under the Fair Housing Act?  On May 1, 2017, the U.S. Supreme Court said “yes,” but with the following conditions: The city must be an “aggrieved person” within the meaning of the Fair Housing Act; The alleged harm must be […]

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CFPB Releases 2016 Fair Lending Report, Redlining Among Top 2017 Priorities

On Tuesday, the Consumer Financial Protection Bureau (CFPB) released its annual Fair Lending report. In this report, the CFPB summarizes its supervisory actions, rulemaking, guidance and other activities conducted during the 2016 calendar year. Following are some of the observations that are noted in the report related to the agency’s supervisory actions for 2016: Many […]

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FRB Announces Enforcement Action with Santander

On March 23, 2017, the Federal Reserve Board (FRB) announced an enforcement action with Santander Holdings USA, Inc. and its majority-owned subsidiary, Santander Consumer USA, Inc. This action will require Santander to strengthen its compliance risk management program and improve the oversight by the Board and senior management of the lender’s subprime auto-lending unit. While […]

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HUD Sanctions Illinois Bank for Fair Lending Violations

The U.S. Department of Housing and Urban Development (HUD) announced Friday, March 9th, that it has reached an agreement with Alpine Bank & Trust resolving allegations that the Northern Illinois-based lender discriminated against African American and Hispanic mortgage applicants. The agreement stems from a complaint filed with HUD by HOPE Fair Housing Center of Wheaton, Illinois, […]

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