Arnold & Porter explains First DOJ/CFPB Joint Redlining Settlement

On September 24, 2015, the US Department of Justice (DOJ), the Bureau of Consumer Financial Protection (CFPB), and Hudson City Savings Bank (Bank) entered into a consent order which, if approved by the court, would settle allegations that the Bank violated the Equal Credit Opportunity Act and the Fair Housing Act (FHA). The consent order is the latest in a series of actions taken by a number of regulators on both the state and federal level settling allegations of redlining based largely on statistical analysis rather than evidence of denied loans.1

The recent settlement was the result of investigations … Read more

Arnold & Porter discusses Blankenship Case

The recent indictment of Don Blankenship, the former chairman and CEO of Massey Energy Co., stands as a warning for company leaders confronting a crisis and raises questions about the continued viability of common approaches for responding to a crisis. The indictment stems from the 2010 explosion at the Upper Big Branch Mine in West Virginia, an incident that killed 29 miners. On Nov. 13, 2014, a federal grand jury in West Virginia charged Blankenship with conspiring to violate safety regulations and to circumvent inspections and with making false statements immediately after the incident. It is unusual to see a … Read more