On January 15, 2015, the DOJ announced that it had entered a consent order in the U.S. District Court for the Northern District of Texas to resolve claims against a state-chartered bank based in Texas for allegedly discriminatory loan practices. The matter was referred to the DOJ by the FDIC,…
On September 18, CFPB Director Richard Cordray delivered remarks at a Field Hearing about CFPB’s latest proposed rule, which would allow it to begin regulating “captive” finance companies – those entities owned by automotive manufacturers “for the primary purpose of facilitating sales for their parent companies and associated dealers.” In his…
Synchrony Bank (formerly known as GE Capital Retail Bank) made two direct mail offers to its credit card holders, but it did not send the offers to Spanish-speaking customers. The Bank self-reported its actions, resulting in consent orders with the Consumer Financial Protection Bureau and the Department of Justice, which…