redlining

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|

2016 HMDA Data Highlights [Infographic]

On September 28, 2017, the Federal Financial Institutions Examination Council (FFIEC) announced the availability of 2016 mortgage lending data submitted in compliance with the Home Mortgage Disclosure Act (HMDA). This database of mortgage activity is relied upon by regulators, examiners, academics, industry leaders, and members of the general public to analyze the performance of mortgage lenders with regard [...]

October 5th, 2017|

DOJ Sues KleinBank for Redlining

The Justice Department filed a lawsuit against KleinBank on January 13th, alleging that KleinBank engaged in unlawful “redlining” of majority-minority neighborhoods in the Minneapolis-St. Paul metropolitan area.  The lawsuit, filed in the U.S. District Court for the District of Minnesota, alleges that from 2010 to at least 2015, the bank structured its residential mortgage lending [...]

January 17th, 2017|