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What Compliance Officers Can Learn from JPMorgan Chase

Posted on February 27, 2015December 30, 2022 by Rick Preiss

In a recent filing with the Securities and Exchange Commission, JPMorgan Chase reported that it has been questioned by the U.S. Department of Justice regarding possible racial disparities in loans the bank purchased from auto dealers. While the report does not mention whether the bank is the target of the probe or simply participating in […]

Ally Financial Fair Lending Consent Order

Posted on January 21, 2014October 22, 2015 by Rick Preiss

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 […]