Archive

OCC UPDATES CRA, FAIR HOUSING AND ECOA POSTERS AND NOTICES

On August 5, 2021, the Office of the Comptroller of the Currency (OCC) published OCC Bulletin 2021-35 which informs national banks, federal savings associations, and federal branches and agencies of foreign banking organizations of the appropriate names and addresses for notices required by the Community Reinvestment Act and Equal Credit Opportunity Act, and for posters under the Fair Housing Act. Community Reinvestment Act—Public Notice by Banks 12 CFR 25.30 requires banks to provide the public […]

HUD ENFORCING BAN ON DISCRIMINATION BASED ON GENDER IDENTITY OR SEXUAL ORIENTATION

On February 11, 2021 the U.S. Department of Housing and Urban Development issued a memorandum titled Implementation of Executive Order 13988 on the Enforcement of the Fair Housing Act. On January 20, 2021, President Biden issued Executive Order 13988 on Preventing and Combating Discrimination on the Basis of Gender Identity or Sexual Orientation. The Executive Order addresses the Supreme Court’s recent decision in Bostock v Clayton County, which held that the prohibitions against sex discrimination […]

SCOTUS SEXUAL ORIENTATION DECISION

On June 15, 2020 the U.S. Supreme Court (SCOTUS), in Bostock v Clayton County, Georgia (Bostock) ruled that firing an employee for being homosexual or transgender constitutes discrimination based on the employee’s sex in violation of Title VII of the Civil Rights Act. Bostock is an employment case in which SCOTUS determined that disparate treatment of  homosexual or transgender individuals is sex discrimination. Both the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act […]

HUD PROPOSES FAIR LENDING DISPARATE IMPACT RULE

On August 19, 2019 the Department of Housing and Urban Development (HUD) proposed a rule to amend HUD’s interpretation of the Fair Housing Act’s disparate impact standard contained in HUD’s existing regulation 24 C.F.R. Part 100. The proposed rule makes it more difficult for a plaintiff to bring a disparate impact case and also  makes it more difficult for a plaintiff to recover punitive and exemplary damages. The proposed rule is good news for lenders […]

ONEWEST BANK REDLINING CASE

On July 29, 2019 the U.S. Department of Housing and Urban Development (HUD) announced that it has approved a Conciliation Agreement between the California Reinvestment Coalition and CIT Group, Inc., and CIT Bank, N.A., dba OneWest Bank, resolving allegations that the bank engaged in lending discrimination by “redlining” in the Los Angeles region. OneWest Bank is a retail bank with 60 branches in Southern California. The complaint, filed by the California Reinvestment Coalition (CRC), alleged […]