On June 2, the U.S. District Court for the Eastern District of Pennsylvania granted a motion by the CFPB and DOJ to terminate a consent order and dismiss with prejudice a case alleging redlining against a mortgage lender (previously covered by InfoBytes here). The consent order, initially issued on September 14, 2022, required the company to fulfill specific financial obligations, including disbursing $18.4 million in loan subsidies, spending over $2 million on targeted advertising, outreach, and consumer financial education intended to generate applications in allegedly redlined areas, and paying a $4 million civil penalty. According to the government’s motion, the company had complied with the monetary terms, leading to the unopposed motion for termination.

Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape.