News surrounding the areas of ADI’s expertise directly impacts our clients’ compliance needs and how we serve them. Staying “in the know” is critical, as today’s regulatory environment changes and evolves.

CFPB Fines Bank of America $12 Million for HMDA Violations

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced it is ordering Bank of America to pay $12 million in fines for violating federal laws related to mortgage disclosure. In a consent order, the CFPB said that Bank of America routinely submitted inaccurate information about mortgage applicants to the federal government over the past four years.  According […]


Regulators Issue Final Rule to Modernize the CRA

On October 24th, the Office of the Comptroller of Currency, Federal Reserve Board, and the Federal Deposit Insurance Corporation issued a final rule to strengthen and modernize the Community Reinvestment Act (CRA). This revision to the CRA regulation, the first comprehensive update since 1995, was issued with the following stated goals:  Encourage banks to expand […]

CFPB Finalizes Rule on Small Business Loan Reporting

The Consumer Financial Protection Bureau (CFPB) finalized the Rule implementing Section 1071 of the Consumer Financial Protection Act’s requirements that lenders make data available to the public about their small business lending activity. Under this new Rule, lenders will collect and report information about the small business credit applications they receive, including geographic and demographic […]

CFPB Examines Impact of High Vehicle Costs on Consumer Credit Health

The Consumer Financial Protection Bureau (CFPB) is eyeing the relationship between rising car prices and changes in auto loan characteristics and performance. In a September 19, 2022, blog post, the bureau expressed concern about the impact of larger loan amounts and higher monthly payments on the financial health of consumers with near-prime or subprime credit […]


New FHFA Rule will Require Mortgage Servicers to Maintain Fair Lending Data

Fannie Mae and Freddie Mac will require mortgage servicers to obtain and maintain fair lending data on their loans, and for this data to transfer with servicing throughout the term of the mortgage, starting in March 2023. This requirement is one of two updates the Federal Housing Finance Agency (FHFA) recently announced. In addition to […]

Trident Mortgage Company Enters $20 Million+ Redlining Settlement Agreement

The Department of Justice (DOJ), Consumer Financial Protection Bureau (CFPB) and the Attorneys General of Pennsylvania, New Jersey, and Delaware, announced on July 27, 2022, that they had entered agreements with Trident Mortgage Company (Trident) resolving redlining allegations against Trident in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metropolitan Statistical Area (Philadelphia MSA). In a complaint filed also on […]

FTC Announces $10 Million Settlement with Illinois-Based Automotive Group

The Illinois Attorney General and the FTC announced a settlement that requires North American Automotive Services Inc., also known as Edward Napleton Automotive Group (Napleton), to pay $10 million to resolve allegations dealerships charged illegal fees. The settlement was filed with a complaint alleging Napleton dealerships illegally charged consumers for unwanted “add-ons,” discriminated against Black customers […]

HMDA Huddle 1 – Q&As for Tackling the Intricacies of HMDA

Welcome to ADI’s first issue of our quarterly HMDA Q&A series, HMDA Huddle. With another HMDA filing deadline behind us, lenders who successfully submitted their 2021 LAR can breathe a sigh of relief, and ADI is already looking ahead to 2022 reporting. ADI assists a wide variety of lender clients with HMDA LAR audit and […]

CFPB Extends Protections to Target Consumer Finance Discrimination

The Consumer Financial Protection Bureau (CFPB) issued a release on March 16, 2022, announcing modifications to its supervisory operations that expand its monitoring of  discriminatory lending and servicing practices.  The CFPB stated that it “will scrutinize discriminatory conduct that violates the federal prohibition against unfair practices” at banks and non-bank companies across the U.S. The […]

CFPB Comments on Proposed Appraisal Standard Changes as Regulatory Focus on Appraisals Heightens

The Consumer Financial Protection Bureau (CFPB) expressed in a February 4, 2022, blog post its concern that some appraisers may not be aware of the non-discriminatory laws affecting the appraisal industry.  Further, the CFPB opined that The Appraisal Foundation (TAF), a non-governmental entity that sets appraisal standards, has not sufficiently addressed discriminatory prohibitions in its […]