CFPB's New Approach To Redlining Analysis Is Put Into Action

Law360, New York (October 15, 2015, 12:35 PM EDT) -- On Sept. 24, 2015, the Consumer Financial Protection Bureau and U.S. Department of Justice announced a joint action against Hudson City Savings Bank for alleged discriminatory redlining practices from 2009 through 2013 in certain neighborhoods in New York, New Jersey, Connecticut and Pennsylvania in violation of the Equal Credit Opportunity Act and the Fair Housing Act. Over the past few months, officials from both the bureau and DOJ have spoken publicly about redlining concerns, noting that they have seen a resurgence in the practice. Accordingly, we have anticipated the announcement of a significant enforcement action from the agencies....

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