This week the Department of Justice published its Equal Credit Opportunity Act or ECOA annual report to Congress. Some of the data in the report makes for interesting reading. A Look at the Numbers For 2014 DOJ received 18 referrals from the various agencies (CFPB, FDIC, FRB, OCC NCUA, HUD and the FTC). Twelve of […]
Background The First United Bank of Texas (FUB) is a $1.2 billion FDIC regulated subsidiary of Plains Bancorp operating in western Texas (Dimmitt, TX). The FDIC/DOJ investigations found the Bank charged Hispanic applicants 205 basis points (BPs) more than non-Hispanic applicants for unsecured consumer loans. After performing a regression analysis, the basis point differential between […]