News

• New York Attorney General Reaches Fair Lending Agreement with Mortgage Lender for Broker Pricing Practices
  
  
• Testimony of Sandra Braunstein, Director, Division of Consumer and Community Affairs, on the Equal Credit Opportunity Act
  
  
• Chairman Frank and Committee Members Call for GAO Study on Fair Lending Enforcement
  
  
• Justice Department Reaches Settlement in Two Automobile Lending Discrimination Cases
  
  
  • Complaint - US v. Pacifico Ford, Inc.
  • Consent Order - US v. Pacifico Ford, Inc.
    
    
  • Complaint - US v. Springfield Ford, Inc.
  • Consent Order - US v.Springfield Ford, Inc.
    
    
• Statement of OTS Director Yakimov concerning "Rooting Out Discrimination in Mortgage Lending: Using HMDA as a Tool for Fair Lending Enforcement"
  
  
• OCC Director of Compliance Calvin R. Hagins Testifies Before House Financial Services Subcommittee
  
  
• FTC Testifies Before U.S. House Subcommittee on Home Mortgage Disclosure Act Data and FTC Lending Enforcement Program
  
  
• Statement of FDIC Director Thompson on Rooting Out Discrimination in Mortgage Lending
  
  
• Testimony by Federal Reserve Director Braunstein on Fair Lending and the Home Mortgage Disclosure Act
  
  
• HUD Announces $100,000 Settlement of Fair Lending Complaint Against First Indiana Bank, N.A.
  
  
  • Conciliation Agreement
  
  
• Justice Department Reaches Settlement with Compass Bank Regarding Alleged Discrimination in Lending
  
  
• Countrywide Agrees to New Measures to Combat Racial and Ethnic Disparities in Mortgage Loan Pricing (December 5, 2006)
  
  
  • Countrywide Press Release
  • Agreement
  
  
• Agencies Provide Consumer Information on Nontraditional Mortgage Loans (October 18, 2006)
  
  
• DOJ Reaches Settlement With Centier Bank Regarding Alleged Redlining
  (October 13, 2006)
  
  
  • Complaint
  • Consent Order
    
  
  
• New Century Adopts Additional Lending Best Practices (October 12, 2006)
  
  
• Revisions to Higher-Priced Home Lending and the 2005 HMDA Data
  (September 18, 2006)
  
  
• Higher-Priced Home Lending and the 2005 HMDA Data (September 8, 2006)
  
  
• Annual Adjustment of HOEPA Triggers (August 9, 2006)
  
  
  • Federal Reserve Board Notice
    
    
• OCC Working Paper: Foreclosures of Subprime Mortgages in Chicago: Analyzing the Role of Predatory Lending Practices (August 2006)
  
  
• OCC: What Are Examiners Looking for When They Examine Banks for Compliance? (June 12, 2006)
  
  
• Comptroller Dugan Expresses Concern about Non-traditional Mortgages (April 20, 2006)
  
  
• Agencies Announce Updated Answers to HMDA Price Data FAQ (April 3, 2006)
  
  
  • Updated FAQ
    
    
• Regulators Announce Settlement with Ameriquest Mortgage Company (January 23, 2006)
  
  
  • Settlement Agreement
  • Ameriquest Press Release
    
  
  
• OCC: A Look at Fair Lending through the Lens of the New HMDA Data (November 7, 2005)
  
  
• OCC Takes Action Against Bank and Subsidiary For Lending Practices
  (November 4, 2005)
  
  
  • Formal Agreement
    
  
  
• Speech by Governor Bies on the Home Mortgage Disclosure Act
  (March 31, 2005)
  
  
• Agencies Announce Answers to Frequently Asked Questions About New HMDA Data (March 31, 2005)

• OCC Issues Guidelines to Prevent Predatory Residential Mortgage Lending Practices (February 2, 2005)
  
  
  • Guidelines
    
  
  
• OCC Counsel Williams Encourages Self-Analysis of New HMDA Data
  (September 29, 2004)
  
  
• Annual Adjustment of HOEPA Triggers (August 12, 2004)
  
  
  • Federal Reserve Board Notice
    
    
• FTC Charges Mortgage Broker with Deceptive Claims (June 2, 2004)
  
  
• FTC Challenges Bogus Mortgage Loan Brokers (June 1, 2004)
  
  
• Federal Reserve Issues Cease and Desist Order to CitiFinancial
  (May 27, 2004)
  
  
• Detroit Bank Charged with Alleged Discriminatory Redlining
  (May 19, 2004)
  
  
• FTC Testifies on its Efforts to Combat Unfair and Deceptive Subprime Lending (February 24, 2004)
  
  
• Flagstar to Pay $1.1 Million for Lending Bias Against Whites
  (December 23, 2003)
  
  
• OCC Takes Action Against Texas Bank Engaged in Abusive Lending
  (November 12, 2003)
  
  
• Fairbanks Capital Settles FTC and HUD Charges (November 11, 2003)
  
  
• Fed Governor Gramlich: An Update on Predatory Lending
  (October 9, 2003)
  
  
• New Interagency Consumer Brochure on Predatory Lending
  (October 7, 2003)
  
  
• OCC Takes Steps to Keep Abusive Practices Out of National Banking System (July 31, 2003)
  
  
  • Statement of the Comptroller
  • Georgia Preemption Order
  • Notice of Proposed Rulemaking
  • Q&A - Georgia Fair Lending Act Preemption
  • Q&A - Notice of Proposed Rulemaking
  
  
• OCC Issues Working Paper - Economic Issues in Predatory Lending
  (July 31, 2003)
  
  
• Comptroller Hawke Urges New Approach to Combat Predatory Lending
  (July 24, 2003)
  
  
• OTS Says New Jersey Predatory Lending Law Does Not Apply to Federal Thrifts
  (July 23, 2003)
  
  
• FFIEC Unveils Rate Spread Calculator For 2004 HMDA Reporting
  (June 6, 2003)
  
  
• Fed Issues HMDA Transition Rules (May 23, 2003)
  
  
  • Transition Rules
  
  
• New York State Banking Board Adopts Revisions to Part 41
  (May 6, 2003)
  
  
  • Adopted Revisions
    
    
• New Jersey Enacts Predatory Lending Law (May 1, 2003)
  
  
  • New Jersey Home Ownership Security Act of 2002
    
    
• Federal Reserve Issues Proposed Amendment of Official Staff Commentary to Regulation C (HMDA) (March 3, 2003)
  
  
• OCC Issues Guidelines to Guard Against Abusive Lending Practices
  (February 21, 2003)
  
  
  • Advisory Letter 2003-2: Guidelines to Guard Against Abusive Lending Practices
  • Advisory Letter 2003-3: Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans
  • Q&A
  
  
• OCC Invites Comments on Preemption of Georgia Fair Lending Act
  (February 21, 2003)
  
  
• Fed Approves Final Rule Amending Regulation B (February 19, 2003)
  
  
  • Final Rule
    
    
• OTS Says New York Predatory Lending Law Does Not Apply to Thrifts
  (January 30, 2003)
  
  
• OTS Says Georgia Fair Lending Act Does Not Apply to Thrifts
  (January 22, 2003)
  
  
• ABA Releases Report on Predatory Lending (January 14, 2003)
  
  
  • Unintended Consequences: The Risks of Premature State Regulation of Predatory Lending
  
  
• FTC Issues Revised Consumer Lending Alert (January 13, 2003)
  
  
• Mid America Bank Announces Resolution of DOJ Fair Lending Inquiry (December 30, 2002)
  
  
• Fed Issues Annual Notice of Asset Size Exemption Threshold For Depository Institutions Under Regulation C (December 24, 2002)
  
  
• MBA: Rep. Ney to Introduce "Responsible Lending Act" in Early January
  (December 18, 2002)
  
  
• OTS Delays Effective Date For Parity Act Revisions (December 6, 2002)
  
  
• Fed Issues Proposed Revisions to Official Staff Commentary to Regulation Z Including New HOEPA Guidance (November 26, 2002)
  
  
  • Proposed Revisions
    
    
• FTC Files Comment on HUD's Proposed RESPA Amendments
  (November 4, 2002)
  
  
• Household to Pay $484 Million to Settle Deceptive Lending Allegations (October 11, 2002)
  
  
• HUD Secretary Martinez Testifies on RESPA Reform (October 3, 2002)
  
  
• NY's Pataki Signs Predatory Lending Bill (October 3, 2002)
  
  
• Annual Adjustment of HOEPA Triggers (September 27, 2002)
  
  
  • Federal Reserve Board Notice
    
    
• HUD Issues Guidance on Pre-Purchase Quality Control Reviews For Acquired Loans (September 26, 2002)
  
  
• Lawsuit Alleges Bias at Fannie Mae (September 26, 2002)
  
  
• OTS Says State Housing Creditors Using the Parity Act Must Follow State Prepayment and Late Fee Rules (September 25, 2002)
  
  
  • Final Rule
    
    
• Citigroup Settles FTC Charges Against The Associates' Lending Practices for $215 Million (September 19, 2002)
  
  
  • Preliminary Stipulated Final Judgment and Order
  
  
• OCC Issues New Rule Providing Enhanced Consumer Protections on Debt Cancellation Contracts and Debt Suspension Agreements
  (September 17, 2002)
  
  
  • Final Rule
    
    
• FDIC Issues Consumer Education Materials on Predatory Lending
  (August 27, 2002)
  
  
• MAF Bancorp Announces DOJ Mortgage Practices Review
  (August 15, 2002)
  
  
• HUD Issues Proposed RESPA Rule (July 29, 2002)
  
  
• Sixth Circuit Court of Appeals Reverses Class Certification in Coleman v. GMAC (July 22, 2002)
  
  
• Mortgage Lender Settles Charges of Illegal Lending Practices
  (July 18, 2002)
  
  
  • Complaint
  • Stipulated Final Judgment
    
    
• DOJ Settles Lending Discrimination Suit Against Fidelity Federal Bank
  (July 8, 2002)
  
  
  • Complaint
  • Settlement Agreement
    
    
• HUD Announces New "Homebuyer Bill of Rights" (June 26, 2002)
  
  
• Reminder: California's Predatory Lending Law Takes Effect July 1, 2002 (June 24, 2002)
  
  
• Reminder: Pennsylvania's Predatory Lending Law Takes Effect June 25, 2002 (June 24, 2002)
  
  
• Fed Publishes Revisions to Regulation C (HMDA) (June 21, 2002)
  
  
  • Final Rule - Staff Interpretation
  • Final Rule - Technical Amendment
  
  
• NY State Bar Association Releases Unofficial Commentary to New York's Part 41 (June 21, 2002)
  
  
• NYSBD Announces Fourth Case Against a Lender For Part 41 Violations
  (May 10, 2002)
  
  
• Fed Announces Postponement of Recent HMDA Amendments
  (May 2, 2002)
  
  
  • Text of Board's Notice
    
    
• Sarbanes Announces Legislation to Combat Predatory Lending
  (May 1, 2002)
  
  
  • Text of Bill
    
    
• OTS Proposes Revisions to Parity Act Regulations (April 22, 2002)
  
  
  • Proposed Rule
    
    
• NYSBD Proposes Nine Amendments to its High Cost Home Loan Regulation (April 16, 2002)
  
  
  • Proposed Amendments to Part 41
    
    
• Massachusetts Proposes Amendments to Its High Cost Home Loan Regulation (April 16, 2002)
  
  
  • Proposed Amendments to High Cost Home Loan Regulation
  • Notice of Public Hearing
    
    
• OCC Issues Guidance on Unfair or Deceptive Acts or Practices
  (March 22, 2002)
  
  
  • Speech by Chief Counsel Julie L. Williams
  • OCC Guidance on Unfair or Deceptive Acts or Practices
    
    
• Home Mortgage Lender Settles "Predatory Lending" Charges
  (March 18, 2002)
  
  
  • Second Amended Complaint
  • Stipulation of Settlement (Part 1)
  • Stipulation of Settlement (Part 2)
  • Court Order
  • NY State Banking Department Press Release
    
    
• Superintendent McCaul Highlights Part 41 Success (March 18, 2002)
  
  
  • Text of Speech to NY State Senate's Banks Committee
  • Text of Speech to OCC/ABA Conference
    
    
• MBA Launches Campaign to Prevent Predatory Lending (March 12, 2002)
  
  
  • Stop Mortgage Fraud Web Site
  • Borrower's Bill of Rights
  • Ten Warning Signs of Abusive Lending
  • Lenders Formally Endorsing the Campaign
    
    
• Freddie Mac: No Prepay Penalties Greater Than 3 Years on Subprime Loans
  (March 1, 2002)
  
  
  • Borrower Information Guide on Prepayment Penalties
    
    
• Speech by Fed Governor Gramlich on Lending to Lower-Income Households
  (March 1, 2002)
  
  
• Household Expands Best Practices Lending Initiatives
  (February 27, 2002)
  
  
• New FDIC Guidance on Spousal Signature Provisions of Regulation B
  (February 4, 2002)
  
  
• Federal Reserve Amends Home Mortgage Disclosure Act (HMDA)
  (January 23, 2002)
  
  
  • Proposed Rule
  • Final Rule
    
    
• Speech by Fed Governor Gramlich on Predatory Lending
  (January 18, 2002)
  
  
• NYSBD Announces First Part 41 Enforcement Action
  (January 17, 2002)
  
  
• Federal Reserve Approves HOEPA Amendments (December 12, 2001)
  
  
  • Text of Amendments and Summaries
  • Text of Final Rule
    
    
• GSEs Increase Conforming Loan Limit to $300,700 for 2002
  (November 28, 2001)
  
  
• NYSBD's Elizabeth McCaul Speaks on Predatory Lending
  (November 28, 2001)
  
  
• DOJ's Ralph Boyd Speaks on Lending to Borrowers With Blemished Credit (November 28, 2001)
  
  
• HUD Enters Into Settlement Agreements With Lenders Over Illegal Mortgage Fees (November 23, 2001)
  
  
• Annual Adjustment of HOEPA Triggers (November 14, 2001)
  
  
• Federal Reserve Board Notice
  
  
• OCC Guidance Cautions National Banks on Third Party Relationships (November 2, 2001)
  
  
• OCC Bulletin 2001-47
  
  
• HUD Issues New Policy Statement on Yield Spread Premiums and Upcharging (October 15, 2001)
  

• RESPA Statement of Policy 2001-1

• NYSBD Issues Due Diligence Recommendations for Loan Purchases and Securitizations Used for CRA Credit (August 9, 2001)

• Senate Banking Committee Holds Hearings on Predatory Lending
  
  
  • Witness List and Prepared Testimony - July 26, 2001
  • Witness List and Prepared Testimony - July 27, 2001
    
    
• MBA Statement on Efforts to Combat Predatory Lending (July 27, 2001)
  
  
• Agencies Approve ANPR Regarding Community Reinvestment Act (July 19, 2001)
  
  
• Text of Advance Notice of Proposed Rulemaking
  
  
• Attorney General's 2000 Report to Congress Pursuant to the Equal Credit Opportunity Act (April 2001)

• State of Illinois Passes High Cost Loan Legislation (April 17, 2001)
  
  
  • Text of Approved Rules
    
    
• Tackling Predatory Lending: Regulation and Education - Speech by Fed Governor Gramlich (March 23, 2001)

• ABA Releases Study on Predatory Lending (March 22, 2001)

• NYSBD Issues Industry Letters on Fair Lending Compliance for Indirect Auto Lenders (March 20, 2001)
  
  
  • Advice for Financial Institutions
  • Advice for Sales Finance Companies
    
    
• NYSBD's Elizabeth McCaul Discusses New York's Approach to Combat Predatory Lending (March 12, 2001)

• FTC's Comments to Federal Reserve on Proposed Changes to Regulation C/HMDA (March 9, 2001)

• FTC's Comments to Federal Reserve on Proposed Changes to Regulation Z/HOEPA (March 9, 2001)

• Interagency Task Force Publishes Spanish Language Consumer Brochure About Mortgage Lending (March 8, 2001)

• FTC Charges One of the Nation's Largest Subprime Lenders with Abusive Lending Practices (March 6, 2001)
  
  
  • Complaint
  • Exhibit A
  • Exhibit B
    
    
• FTC Testifies on Enforcement, Consumer Education Initiatives to Combat Predatory Lending Practices (February 26, 2001)

• NYSBD Issues Mortgage Banking Letter Re: Fair Lending Examinations (February 16, 2001)

• FFIEC issues "A Guide to CRA Data Collection and Reporting" (January 29, 2001)

• Massachusetts Division of Banks Delays Implementation of New High Cost Mortgage Loan Regulation (January 2001)

• Bill Lann Lee Reflects Upon DOJ's Fair Lending Enforcement Program Over Last Eight Years (January 2001)

• DOJ and Associates National Bank Settle Discrimination Complaint (January 8, 2001)

• OCC Releases Large Bank CRA Examiner Guidance (January 4, 2001)
  
  
  • Text of Guidance
    
    
• Freddie Mac Announces Position Against Predatory Lending Practices (December 28, 2000)

• Federal Reserve Board Increases Threshhold for Exemption From HMDA Reporting (December 20, 2000)

• Federal Reserve Board Proposes Amendments Seeking to Lower HOEPA Triggers (December 13, 2000)
  
  
  • Proposed Rule (December 19, 2000)
    
    
• Massachusetts Division of Banks' High Cost Mortgage Loan Regulations (December 8, 2000)

• Speech by Fed Governor Gramlich on Sub-Prime Lending and Predatory Lending (December 6, 2000)

• OCC Does Not Object to Citigroup's Proposed Acquisition of Associates National Bank (November 30, 2000)

• FDIC Issues Letter re: Citigroup's Proposed Acquisition of Associates Capital Bank (November 30, 2000)

• Federal Reserve Board Seeks Comments on Proposed Changes to Regulation C (HMDA Reporting) (November 29, 2000)
  
  
  • Proposed Rule (December 18, 2000)
    
    
• Response of Citigroup to OCC Letter re: Its Acquisition of Associates First Capital Corp. (November 21, 2000)

• Federal Reserve Board Increases Fee Trigger for HOEPA Loans in 2001 (November 21, 2000)

• OCC Issues Updated Comptroller's Handbook for Fair Lending Examination Procedures (November 20, 2000)

• Draft FDIC Staff Memo: How to Avoid Purchasing or Investing in Predatory Mortgage Loans (November 17, 2000)

• Response by Citigroup to Public Comments Re: Its Acquisition of Associates First Capital Corp. (November 9, 2000)

• U.S. Department of Justice's Amicus Brief in Cason v. Nissan Motor Acceptance Corp. Case

• OCC Releases Community Bank Consumer Compliance Examination Handbook (October 27, 2000)

• New York State Banking Department's McCaul Delivers Speech on Predatory Lending (October 24, 2000)

• New York State Banking Department Releases Consumer Protection Video on Predatory Lending (October 16, 2000)

• FDIC Chairman Tanoue's Speech on Predatory Lending (October 13, 2000)

• OTS Director Seidman Offers Strategy For Successful Community Reinvestment (October 5, 2000)

• FTC Charges That Sub-Prime Lenders Misrepresented Loan Terms to Consumers (October 4, 2000)
  
  
  • Complaint
    
    
• Federal Reserve Releases New Transcripts of Public Hearings on Home Equity Lending Practices (September 21, 2000)

• MBA Comments on Fed's Proposed HOEPA Changes (September 15, 2000)

• CBA Comments to Fed on HOEPA Changes (September 8, 2000)

• OTS To Give Thrifts Free HMDA Report Software (August 31, 2000)

• Mayor Daley's Anti-Predatory Lending Laws Pass Chicago City Council (August 30, 2000)

• Sub-prime Lender Agrees to Pay $350,000 Civil Penalty to Settle Charges of Violating Federal Lending Laws (August 24, 2000)
  
  
  • Complaint
  • Consent Decree
    
    
• Federal Reserve Releases Transcripts of Public Hearings on Home Equity Lending Practices (August 24, 2000)

• Gramm Says Regulators' Responses Underscore Need for Defining "Predatory Lending" (August 23, 2000)

• Staff Analysis of Regulators' Responses

• Lender Agrees to Settle FTC Charges That Ads for Debt Consolidation Loans Were False and Misleading (August 17, 2000)
  
  
  • Complaint
  • Agreement Order
  • Analysis of Proposed Consent
  • Important FTC Statement
    
    
• Freddie Mac, 12 Cities Launch National Effort To Warn Borrowers About Predatory Lending Practices (August 10, 2000)

• OTS Tests "Mystery Shopping" To Help Check Thrifts' Fair Lending Compliance (July 27, 2000)

• OCC Issues Advisory Letter on Abusive Lending Practices (July 26, 2000)

• FFIEC Announces Availability of 1999 HMDA Data (July 19, 2000)

• Subprime Lender Agrees to Settle FTC Charges of Violating Federal Lending and Consumer Protection Laws (July 18, 2000)
  
  
  • Complaint and Stipulated Final Judgment
    
    
• Federal Reserve's Report on the Performance and Profitability of CRA-Related Lending (July 18, 2000)

• MBA Files Comments with OTS on ANPR on Alternative Mortgage Lending (July 11, 2000)

• Federal Reserve Schedules Three Public Hearings on Predatory Practices in the Home Equity Market (July 10, 2000)

• NY State High Cost Home Loan Regulation Presented to Banking Board For Final Adoption (June 28, 2000)
  
  
  • Adopted Regulation
    
    
• FDIC Appoints Five Senior Officials in Division of Compliance and Consumer Affairs (June 26, 2000)

• Illinois Proposes New Rules to Combat Predatory Lending (June 23, 2000)
  
  
  • Text of Proposed Rules
    
    
• HUD & Treasury Release Joint Report Recommending Actions to Curb Predatory Lending (June 20, 2000)

• MBA Urges Comprehensive Mortgage Reform, Releases 7-Point Plan (June 15, 2000)
  
  
  • MBA "Best Practices" for Subprime Lending
  • MBA Position Paper on Predatory Lending
    
    
• Fair, Isaac "Demystifies" FICO Scores with List of Score Factors (June 8, 2000)
  
  
  • FICO Score Factors
    
    
• Freddie Mac Releases Automated Underwriting Factors Used by Loan Prospector (June 7, 2000)

• Remarks by OCC Senior Official on Predatory Lending (June 5, 2000)

• OCC Guidance Focuses on the Risks of Using Computer-Based Financial Models (May 30, 2000)
  
  
  •   Text of Guidance
    
    
• MBA Releases Best Practices/Legislative Guidelines on Subprime Lending (May 25, 2000)

• FDIC Chairman Donna Tanoue's Congressional Testimony on Predatory Lending (May 24, 2000)

• OTS Director Ellen Seidman's Congressional Testimony on Predatory Lending (May 24, 2000)

• CBA Testifies on Predatory Lending Practices (May 24, 2000)
  
  
  • Text of Testimony
    
    
• Prepared Statement of the FTC on Predatory Lending Practices in the Subprime Industry (May 24, 2000)

• Comptroller Hawke Outlines Program to Combat Predatory Lending (May 24, 2000)

• Analysis of Subprime Lending in Baltimore Released at Forum (May 19, 2000)

• Request for Comment: 2000 Interagency CRA Questions and Answers (May 19, 2000)

• Analysis of Subprime Lending in New York Released at Forum (May 12, 2000)

• Agencies Propose Rule on Disclosure and Reporting of CRA-Related Agreements (May 11, 2000)

• "'Predatory Lending' Abuses Must Be Eliminated," Says Consumer Bankers Association President (May 8, 2000)

• OCC Announces New Community Development Resources for Bankers (May 4, 2000)
  

• HUD's Predatory Lending Joint Task Force - Purpose and Schedule

• Responsible Sub-Prime Lending Part of Solution to Predatory Practices: Seidman Says (Includes Speech) (April 17, 2000)

• HUD Releases New Study Showing Explosion of Subprime Home Loans in Black and Low Income Neighborhoods (April 12, 2000)

• Fannie Mae Announces New Loan Guidelines to Combat Predatory Lending Practices (April 11, 2000)

• OTS Begins Formal Inquiry Into Subprime Lending Practices (April 4, 2000)

• FTC, DOJ, and HUD Announce Action to Combat Abusive Lending Practices (March 30, 2000)

• Freddie Mac Announces Steps to Protect Borrowers from Predatory Lending Practices (March 24, 2000)

• Comptroller Hawke Urges Increased Action, Education to Combat Predatory Lending (March 21, 2000)
  
  
  • Text of Speech