District Court Rejects City's Alleged Discriminatory Practices Case against Wells Fargo (8/3/15)
The U.S. District Court for the Central District of California on July 17 rejected the city of Los Angeles' claims that Wells Fargo engaged in mortgage lending practices that had a disparate impact on minority borrowers. In rejecting these claims, the court relied heavily on the Supreme Court’s recent decision in the Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc., noting that the city "must prove a 'robust causality' between the policy and the statistical disparity." For more on Fair Lending, see ABA's resources page.
ABA Seeks Banker Input on Overtime Proposal (7/30/15)
ABA is seeking banker input on how the Department of Labor’s controversial overtime proposal – which would more than double the current salary necessary for employees to be exempt from overtime and will affect most banks in the country – would affect their banks. To provide input, contact ABA’s Cris Naser.