Last week, a court decision dealt a significant blow to the Consumer Financial Protection Bureau’s enforcement authority—and it has broad implications for the nation’s independent mortgage banks as well.
Tag: CFPB v. Townstone
CFPB Loses Key IMB Redlining Case
On Friday, a District Court in Chicago ruled in CFPB v. Townstone Financial Inc. and Barry Sturner that the Equal Credit Opportunity Act does not extend to prospective applicants under a plain language reading of the statute.