Quote: Feb. 9, 2023

“No lender has challenged this redlining theory before, since the 1990s, when DOJ and the banking regulators started using this redlining theory against banks. This is a first. I think the CFPB was trying to get a settlement against a non-bank; Townstone was a tiny mortgage company in 2017 and the Bureau thought it would probably just roll over.”
–Richard Horn, Co-Managing Partner of Garris Horn LLP, Tucson, Ariz.