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Ally Financial Fair Lending Consent Order

By now most compliance officers have heard about the consent order between Ally Bank, the CFPB and DOJ.  In short, Ally agreed to pay a total of $98 million in fines ($18 million) and restitution ($80 million) in a disparate impact settlement of an indirect auto lending case.  While several law firms and others have […]

Texas Champion Bank

DOJ Settlement with Texas Champion Bank

Yesterday the Department of Justice announced a fair lending settlement with Texas Champion Bank, a $345 million bank in Alice, Texas.  The allegations concerned pricing on unsecured consumer loans to Hispanic applicants.  The settlement was the result of a 2010 referral by the FDIC.  In the settlement Texas Champion agreed to pay $700,000 in restitution […]

Community State Bank – Redlining

Community State Bank – Redlining Background Community State Bank is a $200 million institution in St. Charles, Mich., (near Saginaw and Flint) with eight branches.  Community consented to redlining allegations from the Department of Justice.  In the Complaint, DOJ alleged that Community had policies/practices to deny/discourage the residents of majority-minority neighborhoods from obtaining home loans.  […]