The Consumer Financial Protection Bureau (CFPB) has been involved in several significant legal developments regarding mortgage lending practices. An appellate court ruled in favor of the CFPB, stating that lenders cannot discriminate against applicants. The 7th Circuit allowed the CFPB to pursue claims against Townstone Financial for alleged violations of the Equal Credit Opportunity Act. Additionally, the CFPB proposed new rules and won a reversal in a redlining lawsuit in Illinois.
CFPB Releases Mortgage Servicing Report on Borrower Experiences During the COVID-19 Pandemic https://t.co/12EviEsxFE | by @ballardspahrllp
CFPB Issues Proposed Rule Amending Mortgage Servicing Rules https://t.co/sEIdqXsNL6 | by @ballardspahrllp
#CFPB Wins Big Reversal in Illinois #Redlining Lawsuit https://t.co/sQLUjPza8p #mortgage @CHANGEIL https://t.co/uL2IAqMVQg