The Consumer Financial Protection Bureau (CFPB) and the legal team for Townstone Financial filed a joint motion asking the court to vacate the settlement the CFPB reached with Townstone in November, which resolved allegations of redlining and violations of the Equal Credit Opportunity Act (ECOA) against the Chicago mortgage broker.
The CFPB called the Townstone case “abusive,” “unjust” and “a seven-year harassment saga.” Attorneys on the Townstone team talked to RESPA News about this unprecedented reversal by the bureau.
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