WebApr 13, 2024 · The CFPB’s lawsuit against Townstone represented the Bureau’s first-ever redlining complaint against a nonbank mortgage company. In its complaint, the CFPB alleged violations of the ECOA and Consumer Financial Protection Act. WebSpecialties: Townstone has been beating the competition on interest rates and closing costs since 2002. Whether you are purchasing a new home or refinancing your existing home, the Townstone Financial team will find a …
Townstone wins order to dismiss CFPB’s redlining lawsuit
WebJul 15, 2024 · Townstone engaged in illegal redlining by engaging in acts or practices that discouraged prospective applicants living in other areas from applying to Townstone for … WebJul 17, 2024 · On Wednesday, the CFPB filed a lawsuit against Townstone for allegedly discouraging Black applicants from applying for loans while engaging in redlining by … bone clinic in waterloo iowa
Breaking News: Judge dismisses CFPB redlining case against …
WebJul 23, 2024 · On July 15, 2024, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) filed a lawsuit against Townstone Financial, Inc. (“Townstone” or the “Company”), a Chicago-based mortgage lender and mortgage broker, alleging that Townstone “redlined” African-American neighborhoods in the Chicago Metropolitan Statistical Area (“MSA”) and … WebFeb 3, 2024 · Today, in another legal blow to the CFPB, a federal court in Illinois dismissed the Bureau’s redlining lawsuit against Townstone Financial (“Townstone”) and its owner. The Bureau made waves back in 2024 when it filed the lawsuit, which was the first public redlining action brought by the Bureau against a non-bank mortgage lender. WebFeb 6, 2024 · Takeaway. Ultimately, the court’s dismissal of the CFPB’s case against Townstone casts significant doubt on the agency’s ECOA discouragement theory and its approach to fair lending enforcement, particularly the agency’s redlining investigations. We expect the CFPB to appeal the court’s order, though it is possible that existing ... bone clip art png