Related Practices
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For many years, firm lawyers have been intensively involved in a wide range of both public and nonpublic fair lending matters concerning alleged discriminatory and/or predatory lending practices. We routinely represent clients in Department of Justice fair lending investigations and in the resolution of such investigations; in regulatory inquiries regarding fair lending compliance, including with respect to recent HMDA data issues; responses to preliminary examination findings of fair lending violations; fair lending investigations by both the Department of Housing and Urban Development and various state and local government agencies; private fair lending claims; the development and review of fair lending policies and detailed self-testing programs; and the review and resolution of fair lending issues related to individual products and pricing structures.
Representative Matters
- Representing a state non-member bank in persuading the FDIC to take no action in a fair lending investigation alleging that the bank provided discriminatory lending terms to African American and Hispanic borrowers.
- Representing a bank in a Department of Justice investigation, alleging redlining on the basis of race.
- Representing a financial institution in a RESPA inquiry by the U.S. Department of Housing and Urban Development.
- Representing a state member bank in a fair lending inquiry by the Federal Reserve, alleging discriminatory pricing on the basis of race.
- Representing Mid America Bank in connection with a Department of Justice investigation of alleged racial and national origin discrimination in mortgage lending in violation of the Fair Housing Act and Equal Credit Opportunity Act and the resolution of that matter pursuant to a Consent Decree.
- Representing a financial institution in defending against a class action complaint based on alleged violations of state consumer protection laws and related theories concerning a variety of purported predatory lending practices including allegedly high-pressure sales practices, lending more than the value of the home, lending more than the borrower's income could support, unfair adjustable interest rates, prepayment penalties, and other unfair terms.
- Representing The Northern Trust Company in connection with a fair lending investigation by the Department of Justice and the resolution of the matter pursuant to a Consent Decree.
- Representing the former First National Bank of Vicksburg (now part of Trustmark National Bank) in connection with Department of Justice and OCC investigations of alleged racial discrimination in home improvement lending in violation of the Fair Housing Act and the Equal Credit Opportunity Act, and in negotiating settlements of such charges pursuant to a Consent Decree and a Consent Order.
- Representing a mortgage company subsidiary of a major bank holding company in connection with an investigation of alleged discrimination conducted by the Department of Housing and Urban Development and two local government agencies and in negotiating a settlement of those charges pursuant to a "partnership agreement."
Accolades
- Chambers USA, Financial Services Regulation (2011)
- Banking (Enforcement & Investigations): Stuart Stock and D. Jean Veta
- Banking (Compliance): John Dugan, Mark Plotkin, and Stuart Stock
- Best Lawyers in America (2011)
- Banking: Mark Plotkin, David Rosinus, Stuart Stock, and D. Jean Veta
- Washington D.C. Super Lawyers (2010)
- Criminal Defense - White Collar: Bruce Baird and D. Jean Veta
- Banking: Mark Plotkin
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