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Seven financial organizations issued a letter to the U.S. House of Representatives on May 29 in support of an amendment to an appropriations bill that would limit Justice Department litigation relying on the disparate impact theory of discrimination.
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On the eve of the CFPB’s first public forum on auto lending, a town council in New Jersey unanimously votes to settle a lawsuit centered on the disparate impact theory.
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A New Jersey housing bias case the Supreme Court agreed to hear could end in settlement. If an agreement isn’t reached, the high court could strike down the CFPB’s use of the disparate impact theory in its scrutiny of rate participation programs.
Read More →Eight trade associations request that the Department of Housing and Urban Development and the Consumer Financial Protection Bureau clarify and create guidance related to their use of the disparate impact theory to determine discrimination.
Read More →Ally Financial revealed in a March filing with the SEC that it is one of the banking institutions being investigated by the CFPB.
Read More →Experts weigh in on recent reports that the CFPB issued warnings to banks over practices related to auto retail installment sales transactions. If reports are correct, experts believe the CFPB may be stretching the definition of the Equal Credit Opportunity Act too far.
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