Mortgage and Consumer Lending: Defending Disparate Impact Claims Amid Aggressive Regulatory Enforcement
Navigating HUD DI Rule, Conflicting Court Decisions, Impact on the Qualifying Mortgage Rule, and CFPB Enforcement Actions
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will discuss the disparate impact (DI) theory of discriminatory lending in both mortgage and non-mortgage consumer lending, focusing on HUD's Disparate Impact Rule, recent enforcement efforts, potential risks to lenders complying with the new qualifying mortgage rules, and recent CFPB initiatives. The program will discuss recent enforcement actions and lessons learned for defending future actions as well as pursuing compliance efforts.
- HUD Disparate Impact Rule for fair mortgage lending
- Case law developments up to Mount Holly for mortgage lending
- Mortgage lending regulatory enforcement actions and consent orders
- Disparate impact in non-mortgage lending—CFPB regulatory and enforcement actions
The panel will review these and other key questions:
- What lending practices have been the focus of recent regulatory enforcement actions and what are the take-aways from those actions and settlements?
- What issues were presented for Supreme Court review in the Mount Holly case and its predecessor, Magner v. Gallagher?
- What potential risks might lenders face in complying with the new Qualified Mortgage Rule, and what steps can they take to mitigate those risks?
- What consumer lending practices and industries have been targeted by the CFPB?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Paul F. Hancock
Mr. Hancock focuses his practice on litigation and defense of federal and state government investigations. A primary... | Read More
Mr. Hancock focuses his practice on litigation and defense of federal and state government investigations. A primary focus has been the financial services industry, where he has represented the nation’s largest financial institutions as well as other industry members, large and small, facing governmental or private claims. He has provided the views of the industry to the Supreme Court and to government agencies considering rules.Close
Benjamin P. Saul
Mr. Saul is a leader in the areas of consumer financial services enforcement and fair and responsible... | Read More
Mr. Saul is a leader in the areas of consumer financial services enforcement and fair and responsible banking. He has extensive experience representing clients in matters involving the Consumer Financial Protection Bureau (CFPB). In addition to his CFPB practice, he has also represented clients in matters involving the Congress, DOJ, HUD, FTC, SEC, federal and state banking authorities, and state attorneys general.Close
Philip R. Stein
Mr. Stein focuses his practice on complex commercial litigation and regularly acts as lead counsel to mortgage... | Read More
Mr. Stein focuses his practice on complex commercial litigation and regularly acts as lead counsel to mortgage companies, financial services companies, and large national homebuilders on issues of importance to companies in those industries. He regularly assists companies with Fair Lending and UDAAP litigation, compliance and training. He is a frequent contributor to and co-editor of the Firm’s Mortgage Crisis Watch Blog.Close