Legal

ABA, OCC File Briefs in Missouri Mutual M&A Litigation

ABA and the Missouri Bankers Association have filed a friend-of-the-court brief in a Missouri case in which two mutual thrift depositors claim that they are entitled to a distribution of their thrift’s capital at the time the bank merged into another institution.

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Supreme Court Sends Miami Fair Housing Case Back for Rehearing

While holding that cities may sue lenders under the Fair Housing Act, alleging reduced property tax revenues due to predatory lending, the Supreme Court today found that the lower court should have used a more stringent test to determine whether the city of Miami was entitled compensation for its losses.

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Highway Robbery

Let’s hope the FAST Act’s thievery serves as a wake-up call to banks that our industry is much stronger when we fight together.

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ABA Seeks Fairness in Fair Lending Enforcement

As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, ABA today urged federal regulators and law enforcement to reign in disparate impact and redlining investigations that go beyond the law and Supreme Court precedent.

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ABA, State Associations Continue Focus on ADA Website Issues

Over the last month, ABA has been working with state bankers associations to inform members of Congress about the demand letters that plaintiffs’ firms have sent to banks asserting that the bank’s website is not accessible to speech and hearing impaired customers as required by the Americans with Disabilities Act.

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Democrats Defend CFPB’s Structure in Amicus Brief

A group of 39 current and former Democratic lawmakers submitted an amicus brief today in the case of PHH Mortgage v. Consumer Financial Protection Bureau, a closely watched case over whether the bureau’s leadership structure -- a single powerful director who cannot be removed at will by the president -- is constitutional.

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DOJ Reverses Position on CFPB Structure in Amicus Brief

In an amicus brief filed in the case of PHH Mortgage v. Consumer Financial Protection Bureau on Friday, the Department of Justice reversed its position on the constitutionality of the CFPB’s structure, asserting that the Bureau’s structure with a single director removable only “for cause” should be invalidated.

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