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DOJ announces major new initiative targeting redlining; DOJ/CFPB/OCC settle redlining lawsuit against Mississippi-based national bank

CFPB Monitor

Trustmark National Bank Settlement. The DOJ, CFPB, and OCC, announced they had entered into agreements with Trustmark National Bank (TNB) to resolve allegations that TNB engaged in lending discrimination by redlining predominantly Black and Hispanic neighborhoods in Memphis, Tennessee.

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36 State Attorneys General settle with CarMax over non-disclosure of open safety recalls

CFPB Monitor

CarMax must also present consumers with copies of open recalls and obtain the consumer’s signature on a standalone disclosure document before presenting any other sales paperwork. .

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Sizzle Or Fizzle: Facebook, Online Lending, Cash – And The Twilio Surge

PYMNTS

This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C.

Lending 101