A federal judge ruled the U.S. Consumer Financial Protection Bureau overreached when it sued Townstone over remarks made on the mortgage lender's weekly radio show and podcast between 2014 and 2017.
A Chicago mortgage lender told an Illinois federal judge on Wednesday that the Consumer Financial Protection Bureau's suit attempting to hold it liable for allegedly disparaging majority-Black neighborhoods is based on a regulation in "flagrant" violation of the First Amendment and must be dismissed.
The Consumer Financial Protection Bureau on Monday defended its suit accusing a Chicago mortgage lender of discriminating against prospective Black borrowers, telling an Illinois federal judge that a recent U.S. Supreme Court decision limiting agency power isn't the trump card the company claims.