Links in “Department of Justice”

Besides coming in at a cool $27 million, the largest redlining settlement in history to provide direct subsidies, the Hudson City Savings Bank settlement with the Department of Justice and the CFPB offers other reasons to worry as well. There are more redlining investigations underway. The DOJ isn't sure if the increases are because there are more violations happening now or because redlining investigations have become a priority focus. [9/25/15]

The CFPB with the Department of Justice (DOJ) announced a joint action against Hudson City Savings Bank for discriminatory redlining practices that denied residents in majority-Black-and-Hispanic neighborhoods fair access to mortgage loans in neighborhoods in New York, New Jersey, Connecticut, and Pennsylvania. The proposed consent order, if upheld, will mandate $25 million in direct loan subsidies, $2.25 million in community programs and outreach, and a $5.5 million penalty. [9/25/15]

Last week, the CFPB and DOJ announced a settlement to resolve alleged discriminatory auto lending practices by American Honda Finance Corporation against minority borrowers. Honda's settlement with the DOJ is subject to court approval. [7/22/15]

The CFPB and the DOJ report they are using different screening methods that are revealing more evidence of redlining. With this data, the CFPB has taken action against Nationwide Biweekly Administration, Inc. for falsely representing that consumers would save money through its program. [5/12/15]

The House Financial Services Committee has set forth its plan to closely monitor the activities of the CFPB, the Department of Justice's Operation Choke Point, and more. [1/22/15]

Gun store owner records a conversation with a credit union official who claims the NCUA forced it to shut down the gun store's accounts because of Operation Choke Point, a Department of Justice initiative designed to make it harder for certain lines of business to access the legal banking system. NCUA denies that Operation Choke Point factored into the decision. [1/15/15]

Nearly two years after launching Operation Choke Point, the Justice Department has filed just one lawsuit against a bank, and even that wasn't all that it was cracked up to be. [12/4/14]

The Department of Justice and the CFPB may be going after Honda next for discriminatory pricing of loans made through auto dealerships. [12/4/14]

In FY 2013, the Department of Justice collected a mere $8 billion in fines and penalties. That number jumped to nearly $25 billion in FY 2014, thanks in large part to financial institutions. [11/21/14]

Department of Justice's Office of Professional Responsibility and the FDIC's inspector general have opened separate inquiries into how regulators conducted a crackdown on fraud that allegedly went to far and hurt legitimate companies under a program known as Operation Choke Point. [11/17/14]