Jul 15, 04:21 PM

CFPB Legal Developments: Court Backs CFPB Against Lenders, Proposes New Rules, Wins Reversal in Redlining Case Involving Townstone Financial

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.

#Consumer Financial Protection Bureau #CFPB #7th Circuit #Townstone Financial #Equal Credit Opportunity Act #Illinois

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