Fort Davis State Bank: Elements of a Small Bank Monitoring Program Recently Fort Davis State Bank (FDSB) of Fort Davis, Texas a $78 million three branch institution signed a consent decree with the Department of Justice. The DOJ complaint, based on an FDIC referral, alleged that FDSB charged Hispanic borrowers more for unsecured loans than […]
By now most compliance officers have heard about the consent order between Ally Bank, the CFPB and DOJ. In short, Ally agreed to pay a total of $98 million in fines ($18 million) and restitution ($80 million) in a disparate impact settlement of an indirect auto lending case. While several law firms and others have […]
Community State Bank – Redlining Background Community State Bank is a $200 million institution in St. Charles, Mich., (near Saginaw and Flint) with eight branches. Community consented to redlining allegations from the Department of Justice. In the Complaint, DOJ alleged that Community had policies/practices to deny/discourage the residents of majority-minority neighborhoods from obtaining home loans. […]