The DOJ Alleges Redlining at KleinBank

This week the Justice Department filed yet another suit alleging a financial institution unfairly excluded – or “redlined” — majority-minority neighborhoods from its lending services. The suit against Minnesota-based KleinBank alleges that between 2010 and 2015, KleinBank conducted its residential mortgage lending in a manner that avoided extending credit to borrowers in neighborhoods where a […]

Preiss&Associates’ Guide to Fair Lending in 2017

What does the year have in store for fair lending and compliance professionals? Some speculate that the new year and new administration could bring big changes — perhaps reduced authority or even a new structure for the Consumer Finance Protection Bureau. But if you ask the CFPB, their priorities are clear. The CFPB’s three priorities […]

REMA: Reasonably Expected Market Area

Recently I attended a seminar where a Federal Deposit Insurance Corporation representative used the term “REMA” in a discussion of redlining risk. Have you heard the term? It’s a helpful acronym to know if you desire to understand how the FDIC makes determinations about redlining. What follows borrows heavily from the FDIC representative’s comments on […]