redlining

What Banks Need to Know: The Community Credit Needs Assessment

Under the Community Reinvestment Act (CRA), examiners will assess the community credit and development needs in a bank’s assessment area. A community credit needs assessment – which may also be referred to as a community needs assessment – is a component of the analysis of performance context in a CRA examination. It is intended to [...]

August 23rd, 2022|

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 [...]

July 28th, 2022|

Justice Department Announces New Initiative to Combat Redlining and Announces Settlement with Trustmark National Bank

The U.S. Department of Justice is launching a nationwide Combatting Redlining Initiative  to combat discriminatory lending practices, Attorney General Merrick Garland said on Friday. Garland said the illegal practice of "redlining," or avoiding lending to minority neighborhoods, remained a persistent problem, and the federal government was devoted more resources to identifying it and punishing lenders. [...]

October 22nd, 2021|

Cadence Bank Settles with DOJ, OCC Over Lending Discrimination Allegations

The Justice Department has announced a settlement with Houston-based Cadence Bank to resolve allegations that the bank engaged in lending discrimination by ‘redlining’ predominantly Black and Hispanic neighborhoods in the Houston area. The Department alleged that the bank engaged in redlining between 2013 and 2017 by avoiding providing loans and other home mortgage services in majority-Black [...]

September 1st, 2021|

NYDFS Calls For Nonbank Community Lending Requirements, Cites Hunt Mortgage

On February 4th, State financial regulators cited Buffalo-based Hunt Mortgage Corp. (Hunt) for weakness in lending to minorities and minority neighborhoods, as they released a report finding an overall lack of lending by nonbank mortgage companies in Buffalo, despite laws banning the practice of redlining. Hunt is a subsidiary of Hunt Real Estate Corp., the [...]

February 8th, 2021|

Key Insights from the Townstone Financial Redlining Complaint

Download This Article In a recent Complaint filed by the Consumer Financial Protection Bureau (CFPB) against Townstone Financial, Inc. (Townstone), the CFPB alleges that Townstone violated Fair Lending laws by redlining certain geographic areas. The Bureau also asserts that Townstone engaged in practices that discouraged, on the basis of race, potential applicants living in or [...]

July 28th, 2020|

OneWest Bank reaches settlement on redlining allegation

On July 29, 2019 the U.S. Department of Housing and Urban Development (HUD) announced its approval of an agreement between the California Reinvestment Coalition (CRC) and OneWest Bank. This complaint settles allegations by CRC that the bank discriminated against minority communities in the Los Angeles metropolitan area. The complaint filed with the HUD in 2017 [...]

August 2nd, 2019|

ADI Announces Availability of Preliminary Snapshot of National 2018 HMDA Data

On March 29, 2019, the Consumer Financial Protection Bureau (CFPB) released the Modified Loan Application Registers (LARs) reflecting 2018 mortgage lending activity reported under the Home Mortgage Disclosure Act (HMDA). These reports represent the first release of HMDA data under the new rule implemented in 2015. Starting in 2018, under the 2015 HMDA Rule, financial [...]

April 19th, 2019|

Facebook Changes Ad Policies to Address Fair Lending, Housing Concerns

On March 19, 2019, Facebook announced the latest changes to its policies in response to regulatory concerns regarding its advertising platform. This platform allows advertisers to screen for prospective customers based on their demographics, interests and other attributes. Such targeting offers businesses the opportunity to enhance the performance of their advertising campaigns by focusing on [...]

March 21st, 2019|

Does Your CRA Assessment Area Present Redlining Risk?

In May 2018, the Department of Justice (DOJ) reached a settlement with KleinBank regarding a Redlining-related lawsuit filed by the DOJ against the bank in January 2017.  In the lawsuit, the DOJ alleged the bank “engaged in unlawful redlining of majority-minority neighborhoods in the Minneapolis-St. Paul metropolitan area” from 2010 through 2015. The DOJ found [...]

January 10th, 2019|

Download Brochure

Subscribe to ADI Updates

Explore ADI Insights

Recent Posts