The 2023 order, aimed at ensuring the collection of information about applicants’ race, ethnicity and gender, wasn’t scheduled to be lifted until 2028. Regulators say…
Posts published in “Townstone Financial”
Court denies CFPB’s request to vacate fair lending settlement
By The Citizen on June 12, 2025
Judge declines to reopen case and vacate settlement with Chicago mortgage broker Townstone Financial, calling the request “a Pandora’s box the court refuses to open.” …
Groups slam CFPB’s bid to undo fair lending settlement as ‘dangerous’
By The Citizen on April 22, 2025
Fair housing and consumer groups are trying to stop the Trump administration from vacating a settlement the government reached with a Chicago mortgage broker just…
CFPB cites DEI in push to kill $105k settlement with mortgage broker
By The Citizen on March 28, 2025
Acting director Russell Vought claims bureau “abused its power” in redlining case against Townstone Financial that dragged on for four years, to “further the goal…
Redlining settlement wouldn’t resolve 1st Amendment questions
By The Citizen on October 25, 2024
The CFPB claimed statements made by hosts of Townstone Financial’s AM radio call-in show and podcasts discouraged Black Chicago residents from applying for a mortgage. …
Court tosses redlining suit sparked by mortgage broker’s radio show
By The Citizen on February 8, 2023
Regulators alleged statements made by hosts of Townstone Financial’s call-in show discouraged “prospective” African-American applicants from seeking mortgage loans. Source: Inman News